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

Use the below retirement simulation to view the chances of a successful retirement.
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%19.4%
1 years$1,346,039$1,334,049$1,322,351$1,310,934$1,299,785$1,250,685
2 years$666,356$653,946$641,918$630,257$618,945$570,048
3 years$439,824$427,361$415,363$403,811$392,684$345,528
4 years$326,581$314,155$302,278$290,923$280,066$235,010
5 years$258,653$246,302$234,580$223,457$212,901$170,062
6 years$213,382$201,124$189,576$178,700$168,462$127,869
7 years$181,058$168,903$157,538$146,919$137,004$98,646
8 years$156,827$144,781$133,605$123,247$113,658$77,499
9 years$137,990$126,058$115,074$104,979$95,717$61,704
10 years$122,929$111,114$100,324$90,493$81,556$49,628
11 years$110,615$98,918$88,324$78,756$70,140$40,228
12 years$100,360$88,784$78,385$69,080$60,782$32,808
13 years$91,690$80,235$70,032$60,987$53,003$26,886
14 years$84,265$72,931$62,924$54,137$46,462$22,120
15 years$77,835$66,624$56,812$48,281$40,909$18,255
16 years$72,215$61,126$51,508$43,230$36,156$15,105
17 years$67,261$56,295$46,870$38,842$32,058$12,524
18 years$62,863$52,019$42,787$35,005$28,505$10,402
19 years$58,932$48,211$39,169$31,630$25,407$8,651
20 years$55,399$44,800$35,948$28,647$22,694$7,204
21 years$52,206$41,729$33,065$25,999$20,308$6,004
22 years$49,307$38,953$30,474$23,639$18,204$5,009
23 years$46,665$36,432$28,138$21,528$16,341$4,181
24 years$44,246$34,134$26,023$19,635$14,687$3,492
25 years$42,024$32,033$24,102$17,932$13,216$2,918
26 years$39,976$30,106$22,353$16,396$11,905$2,439
27 years$38,084$28,333$20,757$15,008$10,733$2,039
28 years$36,329$26,698$19,296$13,750$9,685$1,706
29 years$34,699$25,187$17,957$12,609$8,745$1,427
30 years$33,180$23,786$16,726$11,572$7,902$1,194
31 years$31,762$22,486$15,593$10,628$7,144$999
32 years$30,435$21,276$14,549$9,768$6,462$836
33 years$29,191$20,149$13,584$8,982$5,848$700
34 years$28,023$19,097$12,692$8,264$5,295$586
35 years$26,924$18,113$11,867$7,608$4,796$491
36 years$25,888$17,192$11,101$7,007$4,345$411
37 years$24,911$16,328$10,390$6,456$3,938$344
38 years$23,987$15,518$9,730$5,950$3,570$288
39 years$23,113$14,756$9,116$5,486$3,238$241
40 years$22,285$14,039$8,544$5,060$2,937$202
41 years$21,499$13,364$8,012$4,669$2,664$169
42 years$20,752$12,727$7,515$4,309$2,418$142
43 years$20,042$12,126$7,052$3,978$2,194$119
44 years$19,367$11,559$6,620$3,673$1,992$99
45 years$18,723$11,023$6,216$3,392$1,808$83
46 years$18,109$10,515$5,838$3,133$1,642$70
47 years$17,523$10,035$5,485$2,895$1,491$58
48 years$16,963$9,579$5,154$2,675$1,354$49
49 years$16,427$9,148$4,845$2,472$1,229$41
50 years$15,914$8,738$4,555$2,285$1,117$34

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 $5,139 every year, while hoping to spend $30,317 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: 34/38/28 Blend
61$16,300,000$16,300,000$16,300,000$16,300,000
62$17,967,901$17,104,001$16,851,351$18,426,322
63$19,768,370$17,909,840$17,383,614$19,578,525
64$21,751,470$18,754,149$17,932,692$20,817,068
65$23,935,799$19,638,781$18,499,116$22,152,101
66$26,341,848$20,565,679$19,083,434$23,592,238
67$28,992,199$21,536,880$19,686,211$25,146,913
68$31,911,736$22,554,519$20,308,032$26,826,471
69$35,127,878$23,620,836$20,949,496$28,642,252
70$38,670,843$24,738,178$21,611,226$30,606,693
71$42,573,929$25,909,008$22,293,861$32,733,437
72$46,873,826$27,135,907$22,998,063$35,037,453
73$51,610,970$28,421,580$23,724,512$37,535,165
74$56,829,918$29,768,866$24,473,911$40,244,603
75$62,579,768$31,180,739$25,246,986$43,185,560
76$68,914,629$32,660,320$26,044,485$46,379,769
77$75,894,126$34,210,880$26,867,179$49,851,097
78$83,583,962$35,835,848$27,715,865$53,625,761
79$92,056,543$37,538,822$28,591,364$57,732,561
80$101,391,659$39,323,573$29,494,523$62,203,140
81$111,677,236$41,194,055$30,426,217$67,072,273
82$123,010,165$43,154,415$31,387,346$72,378,177
83$135,497,221$45,209,001$32,378,842$78,162,860
84$149,256,068$47,362,373$33,401,663$84,472,504
85$164,416,369$49,619,310$34,456,801$91,357,883
86$181,121,009$51,984,827$35,545,274$98,874,829
87$199,527,449$54,464,181$36,668,139$107,084,739
88$219,809,208$57,062,885$37,826,480$116,055,138
89$242,157,499$59,786,718$39,021,419$125,860,300
90$266,783,041$62,641,744$40,254,113$136,581,928
91$293,918,040$65,634,318$41,525,754$148,309,904
92$323,818,387$68,771,107$42,837,575$161,143,119
93$356,766,072$72,059,101$44,190,843$175,190,384
94$393,071,845$75,505,630$45,586,870$190,571,430
95$433,078,149$79,118,382$47,027,006$207,418,020
96$477,162,355$82,905,417$48,512,645$225,875,164
97$525,740,322$86,875,190$50,045,225$246,102,463
98$579,270,325$91,036,564$51,626,231$268,275,586
99$638,257,379$95,398,837$53,257,191$292,587,901
100$703,258,011$99,971,759$54,939,685$319,252,270