Can I retire at age 62 with 16,000,000?

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 $16,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$1,321,265$1,309,496$1,298,013$1,286,806$1,275,862$1,239,493
2 years$654,092$641,910$630,104$618,657$607,554$571,195
3 years$431,730$419,495$407,719$396,379$385,457$350,248
4 years$320,570$308,373$296,715$285,569$274,911$241,122
5 years$253,892$241,768$230,263$219,344$208,983$176,707
6 years$209,455$197,422$186,087$175,411$165,361$134,627
7 years$177,726$165,795$154,639$144,215$134,483$105,291
8 years$153,940$142,117$131,146$120,979$111,567$83,901
9 years$135,450$123,738$112,956$103,047$93,955$67,788
10 years$120,667$109,069$98,478$88,828$80,054$55,352
11 years$108,579$97,098$86,698$77,307$68,850$45,570
12 years$98,513$87,150$76,942$67,808$59,664$37,762
13 years$90,002$78,758$68,743$59,865$52,028$31,456
14 years$82,714$71,589$61,766$53,141$45,607$26,315
15 years$76,403$65,398$55,766$47,392$40,156$22,090
16 years$70,886$60,001$50,560$42,435$35,490$18,597
17 years$66,023$55,259$46,008$38,127$31,468$15,694
18 years$61,706$51,062$41,999$34,360$27,980$13,270
19 years$57,847$47,323$38,448$31,048$24,939$11,239
20 years$54,379$43,975$35,286$28,120$22,276$9,532
21 years$51,245$40,961$32,456$25,520$19,935$8,094
22 years$48,400$38,236$29,913$23,204$17,869$6,879
23 years$45,806$35,761$27,620$21,132$16,040$5,852
24 years$43,431$33,506$25,544$19,274$14,417$4,982
25 years$41,250$31,444$23,659$17,602$12,973$4,243
26 years$39,241$29,552$21,942$16,094$11,686$3,616
27 years$37,383$27,812$20,375$14,731$10,536$3,083
28 years$35,661$26,207$18,941$13,497$9,506$2,630
29 years$34,060$24,723$17,627$12,377$8,584$2,243
30 years$32,569$23,348$16,418$11,359$7,756$1,914
31 years$31,177$22,072$15,306$10,433$7,012$1,634
32 years$29,875$20,885$14,281$9,588$6,343$1,395
33 years$28,654$19,778$13,334$8,817$5,741$1,191
34 years$27,507$18,745$12,459$8,112$5,197$1,017
35 years$26,428$17,779$11,648$7,468$4,708$869
36 years$25,412$16,875$10,897$6,878$4,265$742
37 years$24,452$16,028$10,199$6,337$3,866$634
38 years$23,546$15,232$9,551$5,841$3,505$542
39 years$22,688$14,484$8,948$5,385$3,178$463
40 years$21,875$13,780$8,387$4,967$2,883$395
41 years$21,103$13,118$7,864$4,583$2,615$338
42 years$20,370$12,493$7,377$4,230$2,373$289
43 years$19,674$11,903$6,922$3,904$2,154$247
44 years$19,010$11,346$6,498$3,605$1,955$211
45 years$18,378$10,820$6,101$3,329$1,775$180
46 years$17,776$10,322$5,731$3,075$1,611$154
47 years$17,200$9,850$5,384$2,841$1,463$132
48 years$16,650$9,403$5,059$2,625$1,329$112
49 years$16,125$8,979$4,755$2,426$1,207$96
50 years$15,622$8,577$4,471$2,243$1,096$82

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $16,000,000, adding $3,906 every year, while hoping to spend $42,246 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: 50/30/20 Blend
61$16,000,000$16,000,000$16,000,000$16,000,000
62$17,636,029$16,788,029$16,540,029$18,419,177
63$19,389,955$17,565,693$17,049,171$19,739,106
64$21,321,365$18,380,047$17,573,952$21,168,165
65$23,448,318$19,232,843$18,114,854$22,720,402
66$25,790,714$20,125,920$18,672,369$24,407,461
67$28,370,481$21,061,204$19,247,007$26,242,136
68$31,211,780$22,040,714$19,839,293$28,238,486
69$34,341,239$23,066,566$20,449,767$30,411,958
70$37,788,198$24,140,980$21,078,986$32,779,533
71$41,584,986$25,266,280$21,727,524$35,359,876
72$45,767,233$26,444,906$22,395,974$38,173,507
73$50,374,197$27,679,413$23,084,946$41,242,990
74$55,449,141$28,972,479$23,795,067$44,593,133
75$61,039,737$30,326,915$24,526,986$48,251,225
76$67,198,520$31,745,663$25,281,369$52,247,274
77$73,983,379$33,231,811$26,058,906$56,614,292
78$81,458,109$34,788,595$26,860,304$61,388,595
79$89,693,006$36,419,406$27,686,294$66,610,136
80$98,765,537$38,127,801$28,537,629$72,322,872
81$108,761,068$39,917,509$29,415,086$78,575,174
82$119,773,668$41,792,438$30,319,462$85,420,271
83$131,907,000$43,756,687$31,251,583$92,916,740
84$145,275,301$45,814,550$32,212,297$101,129,053
85$160,004,451$47,970,534$33,202,479$110,128,171
86$176,233,174$50,229,359$34,223,031$119,992,200
87$194,114,338$52,595,977$35,274,882$130,807,123
88$213,816,399$55,075,578$36,358,990$142,667,590
89$235,524,996$57,673,606$37,476,340$155,677,805
90$259,444,699$60,395,766$38,627,951$169,952,492
91$285,800,940$63,248,040$39,814,869$185,617,965
92$314,842,144$66,236,702$41,038,175$202,813,302
93$346,842,069$69,368,328$42,298,981$221,691,644
94$382,102,398$72,649,813$43,598,434$242,421,625
95$420,955,576$76,088,388$44,937,715$265,188,944
96$463,767,959$79,691,633$46,318,043$290,198,098
97$510,943,264$83,467,497$47,740,671$317,674,298
98$562,926,387$87,424,313$49,206,893$347,865,571
99$620,207,595$91,570,822$50,718,041$381,045,081
100$683,327,163$95,916,185$52,275,488$417,513,686