Can I retire at age 62 with 12,300,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $12,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$1,015,723$1,006,675$997,848$989,232$980,819$947,528
2 years$502,833$493,468$484,392$475,592$467,057$433,850
3 years$331,892$322,487$313,434$304,717$296,320$264,240
4 years$246,438$237,062$228,100$219,531$211,338$180,631
5 years$195,180$185,859$177,015$168,621$160,656$131,403
6 years$161,018$151,768$143,054$134,848$127,121$99,346
7 years$136,627$127,455$118,879$110,866$103,384$77,081
8 years$118,342$109,252$100,818$93,002$85,767$60,917
9 years$104,127$95,124$86,835$79,217$72,228$48,800
10 years$92,762$83,847$75,705$68,286$61,542$39,498
11 years$83,470$74,644$66,649$59,429$52,928$32,226
12 years$75,732$66,996$59,149$52,128$45,866$26,458
13 years$69,189$60,545$52,846$46,021$39,996$21,831
14 years$63,586$55,034$47,482$40,852$35,061$18,086
15 years$58,735$50,274$42,870$36,433$30,870$15,033
16 years$54,494$46,126$38,868$32,622$27,283$12,529
17 years$50,755$42,480$35,369$29,310$24,191$10,465
18 years$47,436$39,254$32,287$26,415$21,510$8,757
19 years$44,470$36,380$29,557$23,868$19,172$7,339
20 years$41,804$33,806$27,126$21,617$17,125$6,158
21 years$39,395$31,489$24,951$19,619$15,325$5,173
22 years$37,207$29,394$22,996$17,838$13,736$4,349
23 years$35,213$27,491$21,233$16,245$12,331$3,659
24 years$33,388$25,758$19,637$14,817$11,083$3,080
25 years$31,711$24,172$18,187$13,531$9,973$2,594
26 years$30,166$22,718$16,868$12,372$8,983$2,186
27 years$28,738$21,380$15,663$11,325$8,099$1,843
28 years$27,414$20,147$14,561$10,376$7,308$1,554
29 years$26,184$19,006$13,550$9,515$6,599$1,311
30 years$25,037$17,949$12,622$8,732$5,963$1,106
31 years$23,967$16,968$11,767$8,020$5,391$933
32 years$22,966$16,055$10,979$7,371$4,876$787
33 years$22,027$15,204$10,251$6,778$4,413$664
34 years$21,146$14,410$9,578$6,236$3,996$561
35 years$20,317$13,668$8,955$5,741$3,619$473
36 years$19,535$12,973$8,377$5,287$3,279$400
37 years$18,798$12,321$7,841$4,871$2,972$337
38 years$18,101$11,710$7,342$4,490$2,694$285
39 years$17,441$11,135$6,879$4,140$2,443$241
40 years$16,816$10,594$6,448$3,819$2,216$203
41 years$16,223$10,084$6,046$3,523$2,010$172
42 years$15,660$9,604$5,671$3,251$1,824$145
43 years$15,124$9,151$5,322$3,001$1,656$122
44 years$14,614$8,722$4,995$2,771$1,503$103
45 years$14,128$8,318$4,690$2,559$1,364$87
46 years$13,665$7,935$4,405$2,364$1,239$74
47 years$13,223$7,572$4,139$2,184$1,125$62
48 years$12,800$7,229$3,889$2,018$1,022$53
49 years$12,396$6,903$3,656$1,865$928$44
50 years$12,009$6,594$3,437$1,724$843$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $12,300,000, adding $2,312 every year, while hoping to spend $33,489 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 51/22/27 Blend
61$12,300,000$12,300,000$12,300,000$12,300,000
62$13,556,985$12,905,085$12,714,435$14,145,260
63$14,904,165$13,501,802$13,104,736$15,151,756
64$16,387,636$14,126,636$13,506,991$16,242,023
65$18,021,262$14,780,929$13,921,563$17,426,919
66$19,820,325$15,466,088$14,348,828$18,715,461
67$21,801,659$16,183,588$14,789,176$20,117,561
68$23,983,820$16,934,975$15,243,004$21,644,113
69$26,387,250$17,721,869$15,710,725$23,307,098
70$29,034,478$18,545,969$16,192,763$25,119,686
71$31,950,328$19,409,055$16,689,554$27,096,363
72$35,162,157$20,312,994$17,201,550$29,253,059
73$38,700,108$21,259,742$17,729,213$31,607,297
74$42,597,401$22,251,351$18,273,023$34,178,354
75$46,890,638$23,289,969$18,833,472$36,987,436
76$51,620,157$24,377,852$19,411,067$40,057,873
77$56,830,407$25,517,360$20,006,331$43,415,340
78$62,570,369$26,710,972$20,619,805$47,088,087
79$68,894,021$27,961,284$21,252,042$51,107,204
80$75,860,842$29,271,017$21,903,616$55,506,907
81$83,536,376$30,643,026$22,575,116$60,324,859
82$91,992,854$32,080,302$23,267,150$65,602,513
83$101,309,869$33,585,980$23,980,344$71,385,500
84$111,575,133$35,163,350$24,715,342$77,724,057
85$122,885,300$36,815,859$25,472,810$84,673,485
86$135,346,885$38,547,119$26,253,433$92,294,674
87$149,077,260$40,360,921$27,057,916$100,654,660
88$164,205,770$42,261,236$27,886,986$109,827,258
89$180,874,952$44,252,230$28,741,393$119,893,746
90$199,241,876$46,338,268$29,621,909$130,943,625
91$219,479,634$48,523,930$30,529,329$143,075,453
92$241,778,968$50,814,013$31,464,473$156,397,770
93$266,350,075$53,213,552$32,428,185$171,030,106
94$293,424,588$55,727,823$33,421,335$187,104,106
95$323,257,767$58,362,356$34,444,820$204,764,756
96$356,130,902$61,122,955$35,499,564$224,171,745
97$392,353,973$64,015,698$36,586,519$245,500,956
98$432,268,575$67,046,965$37,706,665$268,946,119
99$476,251,144$70,223,440$38,861,012$294,720,623
100$524,716,507$73,552,135$40,050,602$323,059,518