Can I retire at age 62 with 16,300,000?

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 $16,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$1,346,039$1,334,049$1,322,351$1,310,934$1,299,785$1,274,584
2 years$666,356$653,946$641,918$630,257$618,945$593,658
3 years$439,824$427,361$415,363$403,811$392,684$368,099
4 years$326,581$314,155$302,278$290,923$280,066$256,372
5 years$258,653$246,302$234,580$223,457$212,901$190,167
6 years$213,382$201,124$189,576$178,700$168,462$146,711
7 years$181,058$168,903$157,538$146,919$137,004$116,243
8 years$156,827$144,781$133,605$123,247$113,658$93,881
9 years$137,990$126,058$115,074$104,979$95,717$76,910
10 years$122,929$111,114$100,324$90,493$81,556$63,702
11 years$110,615$98,918$88,324$78,756$70,140$53,219
12 years$100,360$88,784$78,385$69,080$60,782$44,769
13 years$91,690$80,235$70,032$60,987$53,003$37,871
14 years$84,265$72,931$62,924$54,137$46,462$32,184
15 years$77,835$66,624$56,812$48,281$40,909$27,455
16 years$72,215$61,126$51,508$43,230$36,156$23,495
17 years$67,261$56,295$46,870$38,842$32,058$20,160
18 years$62,863$52,019$42,787$35,005$28,505$17,337
19 years$58,932$48,211$39,169$31,630$25,407$14,938
20 years$55,399$44,800$35,948$28,647$22,694$12,892
21 years$52,206$41,729$33,065$25,999$20,308$11,141
22 years$49,307$38,953$30,474$23,639$18,204$9,640
23 years$46,665$36,432$28,138$21,528$16,341$8,350
24 years$44,246$34,134$26,023$19,635$14,687$7,238
25 years$42,024$32,033$24,102$17,932$13,216$6,279
26 years$39,976$30,106$22,353$16,396$11,905$5,451
27 years$38,084$28,333$20,757$15,008$10,733$4,735
28 years$36,329$26,698$19,296$13,750$9,685$4,115
29 years$34,699$25,187$17,957$12,609$8,745$3,577
30 years$33,180$23,786$16,726$11,572$7,902$3,111
31 years$31,762$22,486$15,593$10,628$7,144$2,707
32 years$30,435$21,276$14,549$9,768$6,462$2,355
33 years$29,191$20,149$13,584$8,982$5,848$2,050
34 years$28,023$19,097$12,692$8,264$5,295$1,785
35 years$26,924$18,113$11,867$7,608$4,796$1,554
36 years$25,888$17,192$11,101$7,007$4,345$1,354
37 years$24,911$16,328$10,390$6,456$3,938$1,179
38 years$23,987$15,518$9,730$5,950$3,570$1,027
39 years$23,113$14,756$9,116$5,486$3,238$895
40 years$22,285$14,039$8,544$5,060$2,937$780
41 years$21,499$13,364$8,012$4,669$2,664$679
42 years$20,752$12,727$7,515$4,309$2,418$592
43 years$20,042$12,126$7,052$3,978$2,194$516
44 years$19,367$11,559$6,620$3,673$1,992$450
45 years$18,723$11,023$6,216$3,392$1,808$392
46 years$18,109$10,515$5,838$3,133$1,642$342
47 years$17,523$10,035$5,485$2,895$1,491$298
48 years$16,963$9,579$5,154$2,675$1,354$260
49 years$16,427$9,148$4,845$2,472$1,229$226
50 years$15,914$8,738$4,555$2,285$1,117$197

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $16,300,000, adding $2,802 every year, while hoping to spend $26,607 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: 75/8/17 Blend
61$16,300,000$16,300,000$16,300,000$16,300,000
62$17,965,490$17,101,590$16,848,940$19,243,669
63$19,769,661$17,911,259$17,385,070$20,899,645
64$21,756,965$18,759,709$17,938,269$22,710,625
65$23,946,054$19,648,813$18,509,079$24,694,888
66$26,357,481$20,580,535$19,098,063$26,869,687
67$29,013,896$21,556,933$19,705,800$29,254,013
68$31,940,255$22,580,164$20,332,886$31,868,781
69$35,164,061$23,652,492$20,979,938$34,737,020
70$38,715,621$24,776,291$21,647,592$37,884,090
71$42,628,333$25,954,047$22,336,505$41,337,917
72$46,938,998$27,188,371$23,047,353$45,129,258
73$51,688,173$28,481,998$23,780,836$49,291,982
74$56,920,547$29,837,796$24,537,674$53,863,395
75$62,685,369$31,258,774$25,318,612$58,884,584
76$69,036,909$32,748,086$26,124,418$64,400,802
77$76,034,971$34,309,040$26,955,884$70,461,896
78$83,745,459$35,945,104$27,813,827$77,122,768
79$92,240,997$37,659,916$28,699,092$84,443,895
80$101,601,615$39,457,288$29,612,548$92,491,898
81$111,915,506$41,341,221$30,555,094$101,340,158
82$123,279,854$43,315,908$31,527,656$111,069,517
83$135,801,759$45,385,747$32,531,193$121,769,027
84$149,599,240$47,555,350$33,566,689$133,536,792
85$164,802,354$49,829,553$34,635,164$146,480,890
86$181,554,420$52,213,428$35,737,669$160,720,384
87$200,013,378$54,712,293$36,875,288$176,386,448
88$220,353,273$57,331,725$38,049,139$193,623,595
89$242,765,900$60,077,573$39,260,379$212,591,039
90$267,462,618$62,955,970$40,510,198$233,464,190
91$294,676,341$65,973,348$41,799,825$256,436,309
92$324,663,738$69,136,453$43,130,530$281,720,322
93$357,707,658$72,452,358$44,503,622$309,550,827
94$394,119,797$75,928,481$45,920,451$340,186,300
95$434,243,641$79,572,602$47,382,411$373,911,532
96$478,457,712$83,392,879$48,890,941$411,040,308
97$527,179,137$87,397,868$50,447,526$451,918,361
98$580,867,587$91,596,542$52,053,696$496,926,635
99$640,029,618$95,998,310$53,711,032$546,484,863
100$705,223,453$100,613,041$55,421,166$601,055,533