Can I retire at age 62 with 16,400,000?

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 $16,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$1,354,297$1,342,233$1,330,464$1,318,976$1,307,759$1,296,802
2 years$670,444$657,958$645,856$634,123$622,742$611,699
3 years$442,523$429,982$417,912$406,289$395,093$384,306
4 years$328,585$316,083$304,133$292,708$281,784$271,336
5 years$260,239$247,813$236,019$224,828$214,208$204,129
6 years$214,691$202,358$190,739$179,797$169,495$159,799
7 years$182,169$169,940$158,505$147,821$137,845$128,536
8 years$157,789$145,670$134,425$124,003$114,356$105,434
9 years$138,836$126,832$115,780$105,623$96,304$87,766
10 years$123,683$111,796$100,940$91,048$82,056$73,897
11 years$111,293$99,525$88,866$79,239$70,571$62,785
12 years$100,976$89,329$78,866$69,503$61,155$53,735
13 years$92,252$80,727$70,462$61,361$53,328$46,266
14 years$84,782$73,379$63,310$54,470$46,747$40,034
15 years$78,313$67,033$57,160$48,577$41,160$34,786
16 years$72,658$61,501$51,824$43,496$36,377$30,332
17 years$67,674$56,640$47,158$39,081$32,255$26,528
18 years$63,249$52,338$43,049$35,219$28,679$23,261
19 years$59,294$48,506$39,409$31,824$25,563$20,441
20 years$55,738$45,075$36,168$28,823$22,833$17,998
21 years$52,526$41,985$33,268$26,158$20,433$15,873
22 years$49,610$39,192$30,661$23,784$18,315$14,019
23 years$46,951$36,655$28,310$21,660$16,441$12,397
24 years$44,517$34,343$26,182$19,756$14,777$10,975
25 years$42,282$32,230$24,250$18,042$13,297$9,726
26 years$40,222$30,291$22,491$16,497$11,978$8,626
27 years$38,317$28,507$20,885$15,100$10,799$7,656
28 years$36,552$26,862$19,415$13,835$9,744$6,800
29 years$34,912$25,341$18,067$12,687$8,799$6,043
30 years$33,383$23,932$16,829$11,643$7,950$5,374
31 years$31,956$22,624$15,689$10,693$7,188$4,780
32 years$30,621$21,407$14,638$9,827$6,502$4,254
33 years$29,370$20,273$13,668$9,037$5,884$3,787
34 years$28,195$19,214$12,770$8,315$5,327$3,373
35 years$27,089$18,224$11,939$7,654$4,825$3,004
36 years$26,047$17,297$11,169$7,049$4,372$2,677
37 years$25,064$16,428$10,454$6,495$3,962$2,386
38 years$24,134$15,613$9,790$5,987$3,592$2,126
39 years$23,255$14,846$9,172$5,520$3,258$1,896
40 years$22,421$14,125$8,597$5,091$2,955$1,691
41 years$21,631$13,446$8,061$4,698$2,681$1,508
42 years$20,880$12,805$7,562$4,335$2,432$1,345
43 years$20,165$12,201$7,096$4,002$2,208$1,200
44 years$19,486$11,630$6,660$3,695$2,004$1,070
45 years$18,838$11,090$6,254$3,413$1,819$955
46 years$18,220$10,580$5,874$3,152$1,652$852
47 years$17,630$10,096$5,518$2,912$1,500$760
48 years$17,067$9,638$5,186$2,691$1,362$678
49 years$16,528$9,204$4,874$2,487$1,237$605
50 years$16,012$8,792$4,582$2,299$1,124$540

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $16,400,000, adding $5,570 every year, while hoping to spend $30,791 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: 24/49/27 Blend
61$16,400,000$16,400,000$16,400,000$16,400,000
62$18,078,545$17,209,345$16,955,145$18,358,107
63$19,889,796$18,019,842$17,490,381$19,405,321
64$21,884,761$18,869,021$18,042,516$20,523,565
65$24,082,149$19,758,745$18,612,082$21,721,053
66$26,502,573$20,690,968$19,199,631$23,004,395
67$29,168,747$21,667,737$19,805,730$24,380,807
68$32,105,702$22,691,199$20,430,965$25,858,179
69$35,341,022$23,763,606$21,075,941$27,445,131
70$38,905,101$24,887,318$21,741,280$29,151,089
71$42,831,434$26,064,809$22,427,626$30,986,363
72$47,156,931$27,298,675$23,135,642$32,962,234
73$51,922,264$28,591,636$23,866,012$35,091,049
74$57,172,253$29,946,545$24,619,442$37,386,325
75$62,956,290$31,366,393$25,396,660$39,862,865
76$69,328,802$32,854,316$26,198,418$42,536,887
77$76,349,765$34,413,603$27,025,491$45,426,160
78$84,085,274$36,047,702$27,878,677$48,550,160
79$92,608,161$37,760,229$28,758,802$51,930,237
80$101,998,687$39,554,974$29,666,716$55,589,807
81$112,345,299$41,435,913$30,603,297$59,554,550
82$123,745,462$43,407,215$31,569,449$63,852,637
83$136,306,581$45,473,251$32,566,108$68,514,984
84$150,147,015$47,638,603$33,594,235$73,575,519
85$165,397,194$49,908,078$34,654,826$79,071,486
86$182,200,850$52,286,715$35,748,904$85,043,775
87$200,716,372$54,779,800$36,877,528$91,537,289
88$221,118,305$57,392,874$38,041,789$98,601,344
89$243,598,995$60,131,747$39,242,811$106,290,114
90$268,370,404$63,002,514$40,481,757$114,663,113
91$295,666,112$66,011,564$41,759,822$123,785,739
92$325,743,523$69,165,599$43,078,244$133,729,858
93$358,886,293$72,471,644$44,438,296$144,574,460
94$395,407,010$75,937,069$45,841,294$156,406,372
95$435,650,140$79,569,600$47,288,592$169,321,050
96$479,995,285$83,377,342$48,781,591$183,423,445
97$528,860,763$87,368,791$50,321,734$198,828,966
98$582,707,558$91,552,859$51,910,509$215,664,529
99$642,043,670$95,938,890$53,549,452$234,069,723
100$707,428,914$100,536,685$55,240,148$254,198,086