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

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 $16,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$1,354,297$1,342,233$1,330,464$1,318,976$1,307,759$1,286,094
2 years$670,444$657,958$645,856$634,123$622,742$600,979
3 years$442,523$429,982$417,912$406,289$395,093$373,908
4 years$328,585$316,083$304,133$292,708$281,784$261,340
5 years$260,239$247,813$236,019$224,828$214,208$194,565
6 years$214,691$202,358$190,739$179,797$169,495$150,676
7 years$182,169$169,940$158,505$147,821$137,845$119,854
8 years$157,789$145,670$134,425$124,003$114,356$97,190
9 years$138,836$126,832$115,780$105,623$96,304$79,954
10 years$123,683$111,796$100,940$91,048$82,056$66,508
11 years$111,293$99,525$88,866$79,239$70,571$55,809
12 years$100,976$89,329$78,866$69,503$61,155$47,160
13 years$92,252$80,727$70,462$61,361$53,328$40,079
14 years$84,782$73,379$63,310$54,470$46,747$34,222
15 years$78,313$67,033$57,160$48,577$41,160$29,334
16 years$72,658$61,501$51,824$43,496$36,377$25,227
17 years$67,674$56,640$47,158$39,081$32,255$21,755
18 years$63,249$52,338$43,049$35,219$28,679$18,804
19 years$59,294$48,506$39,409$31,824$25,563$16,286
20 years$55,738$45,075$36,168$28,823$22,833$14,129
21 years$52,526$41,985$33,268$26,158$20,433$12,276
22 years$49,610$39,192$30,661$23,784$18,315$10,679
23 years$46,951$36,655$28,310$21,660$16,441$9,300
24 years$44,517$34,343$26,182$19,756$14,777$8,106
25 years$42,282$32,230$24,250$18,042$13,297$7,071
26 years$40,222$30,291$22,491$16,497$11,978$6,173
27 years$38,317$28,507$20,885$15,100$10,799$5,392
28 years$36,552$26,862$19,415$13,835$9,744$4,713
29 years$34,912$25,341$18,067$12,687$8,799$4,121
30 years$33,383$23,932$16,829$11,643$7,950$3,605
31 years$31,956$22,624$15,689$10,693$7,188$3,154
32 years$30,621$21,407$14,638$9,827$6,502$2,761
33 years$29,370$20,273$13,668$9,037$5,884$2,417
34 years$28,195$19,214$12,770$8,315$5,327$2,117
35 years$27,089$18,224$11,939$7,654$4,825$1,854
36 years$26,047$17,297$11,169$7,049$4,372$1,625
37 years$25,064$16,428$10,454$6,495$3,962$1,423
38 years$24,134$15,613$9,790$5,987$3,592$1,247
39 years$23,255$14,846$9,172$5,520$3,258$1,093
40 years$22,421$14,125$8,597$5,091$2,955$958
41 years$21,631$13,446$8,061$4,698$2,681$840
42 years$20,880$12,805$7,562$4,335$2,432$736
43 years$20,165$12,201$7,096$4,002$2,208$646
44 years$19,486$11,630$6,660$3,695$2,004$566
45 years$18,838$11,090$6,254$3,413$1,819$496
46 years$18,220$10,580$5,874$3,152$1,652$435
47 years$17,630$10,096$5,518$2,912$1,500$382
48 years$17,067$9,638$5,186$2,691$1,362$335
49 years$16,528$9,204$4,874$2,487$1,237$294
50 years$16,012$8,792$4,582$2,299$1,124$258

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 $4,334 every year, while hoping to spend $45,933 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: 61/23/16 Blend
61$16,400,000$16,400,000$16,400,000$16,400,000
62$18,077,271$17,208,071$16,953,871$19,106,833
63$19,872,280$18,002,394$17,472,953$20,595,162
64$21,848,840$18,834,099$18,007,885$22,213,089
65$24,025,422$19,704,970$18,559,149$23,977,629
66$26,422,378$20,616,876$19,127,243$25,902,995
67$29,062,133$21,571,775$19,712,678$28,004,820
68$31,969,400$22,571,722$20,315,983$30,300,300
69$35,171,411$23,618,869$20,937,700$32,808,350
70$38,698,173$24,715,471$21,578,391$35,549,778
71$42,582,751$25,863,894$22,238,632$38,547,478
72$46,861,584$27,066,617$22,919,018$41,826,640
73$51,574,822$28,326,238$23,620,162$45,414,983
74$56,766,712$29,645,481$24,342,695$49,343,013
75$62,486,009$31,027,202$25,087,268$53,644,299
76$68,786,440$32,474,393$25,854,550$58,355,793
77$75,727,212$33,990,193$26,645,232$63,518,164
78$83,373,565$35,577,891$27,460,025$69,176,182
79$91,797,396$37,240,934$28,299,663$75,379,127
80$101,077,928$38,982,938$29,164,899$82,181,255
81$111,302,467$40,807,692$30,056,513$89,642,296
82$122,567,218$42,719,168$30,975,306$97,828,012
83$134,978,198$44,721,532$31,922,103$106,810,813
84$148,652,236$46,819,149$32,897,755$116,670,426
85$163,718,073$49,016,596$33,903,139$127,494,644
86$180,317,580$51,318,672$34,939,157$139,380,143
87$198,607,094$53,730,408$36,006,740$152,433,383
88$218,758,899$56,257,079$37,106,847$166,771,608
89$240,962,844$58,904,214$38,240,464$182,523,937
90$265,428,144$61,677,611$39,408,610$199,832,575
91$292,385,348$64,583,347$40,612,332$218,854,141
92$322,088,518$67,627,795$41,852,709$239,761,139
93$354,817,628$70,817,638$43,130,856$262,743,566
94$390,881,202$74,159,879$44,447,916$288,010,702
95$430,619,236$77,661,863$45,805,072$315,793,063
96$474,406,395$81,331,292$47,203,539$346,344,568
97$522,655,560$85,176,238$48,644,570$379,944,919
98$575,821,721$89,205,168$50,129,458$416,902,225
99$634,406,273$93,426,957$51,659,530$457,555,896
100$698,961,746$97,850,912$53,236,158$502,279,826