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%14.5%
1 years$1,354,297$1,342,233$1,330,464$1,318,976$1,307,759$1,283,455
2 years$670,444$657,958$645,856$634,123$622,742$598,347
3 years$442,523$429,982$417,912$406,289$395,093$371,367
4 years$328,585$316,083$304,133$292,708$281,784$258,910
5 years$260,239$247,813$236,019$224,828$214,208$192,251
6 years$214,691$202,358$190,739$179,797$169,495$148,480
7 years$182,169$169,940$158,505$147,821$137,845$117,777
8 years$157,789$145,670$134,425$124,003$114,356$95,230
9 years$138,836$126,832$115,780$105,623$96,304$78,109
10 years$123,683$111,796$100,940$91,048$82,056$64,774
11 years$111,293$99,525$88,866$79,239$70,571$54,183
12 years$100,976$89,329$78,866$69,503$61,155$45,639
13 years$92,252$80,727$70,462$61,361$53,328$38,659
14 years$84,782$73,379$63,310$54,470$46,747$32,898
15 years$78,313$67,033$57,160$48,577$41,160$28,102
16 years$72,658$61,501$51,824$43,496$36,377$24,083
17 years$67,674$56,640$47,158$39,081$32,255$20,694
18 years$63,249$52,338$43,049$35,219$28,679$17,822
19 years$59,294$48,506$39,409$31,824$25,563$15,379
20 years$55,738$45,075$36,168$28,823$22,833$13,292
21 years$52,526$41,985$33,268$26,158$20,433$11,505
22 years$49,610$39,192$30,661$23,784$18,315$9,970
23 years$46,951$36,655$28,310$21,660$16,441$8,649
24 years$44,517$34,343$26,182$19,756$14,777$7,509
25 years$42,282$32,230$24,250$18,042$13,297$6,525
26 years$40,222$30,291$22,491$16,497$11,978$5,673
27 years$38,317$28,507$20,885$15,100$10,799$4,936
28 years$36,552$26,862$19,415$13,835$9,744$4,296
29 years$34,912$25,341$18,067$12,687$8,799$3,741
30 years$33,383$23,932$16,829$11,643$7,950$3,259
31 years$31,956$22,624$15,689$10,693$7,188$2,840
32 years$30,621$21,407$14,638$9,827$6,502$2,476
33 years$29,370$20,273$13,668$9,037$5,884$2,159
34 years$28,195$19,214$12,770$8,315$5,327$1,882
35 years$27,089$18,224$11,939$7,654$4,825$1,642
36 years$26,047$17,297$11,169$7,049$4,372$1,432
37 years$25,064$16,428$10,454$6,495$3,962$1,250
38 years$24,134$15,613$9,790$5,987$3,592$1,091
39 years$23,255$14,846$9,172$5,520$3,258$952
40 years$22,421$14,125$8,597$5,091$2,955$831
41 years$21,631$13,446$8,061$4,698$2,681$725
42 years$20,880$12,805$7,562$4,335$2,432$633
43 years$20,165$12,201$7,096$4,002$2,208$553
44 years$19,486$11,630$6,660$3,695$2,004$482
45 years$18,838$11,090$6,254$3,413$1,819$421
46 years$18,220$10,580$5,874$3,152$1,652$368
47 years$17,630$10,096$5,518$2,912$1,500$321
48 years$17,067$9,638$5,186$2,691$1,362$280
49 years$16,528$9,204$4,874$2,487$1,237$245
50 years$16,012$8,792$4,582$2,299$1,124$214

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 $4,944 every year, while hoping to spend $54,689 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: 60/22/18 Blend
61$16,400,000$16,400,000$16,400,000$16,400,000
62$18,077,900$17,208,700$16,954,500$19,078,179
63$19,863,657$17,993,737$17,464,287$20,539,865
64$21,829,728$18,815,409$17,989,319$22,127,272
65$23,994,448$19,675,452$18,530,049$23,857,805
66$26,378,019$20,575,686$19,086,943$25,745,329
67$29,002,703$21,518,021$19,660,481$27,805,094
68$31,893,030$22,504,454$20,251,158$30,053,873
69$35,076,029$23,537,083$20,859,482$32,510,116
70$38,581,487$24,618,103$21,485,977$35,194,121
71$42,442,223$25,749,815$22,131,183$38,128,222
72$46,694,406$26,934,632$22,795,653$41,336,992
73$51,377,889$28,175,082$23,479,961$44,847,472
74$56,536,587$29,473,814$24,184,693$48,689,421
75$62,218,894$30,833,606$24,910,456$52,895,590
76$68,478,137$32,257,369$25,657,872$57,502,027
77$75,373,080$33,748,153$26,427,583$62,548,410
78$82,968,477$35,309,156$27,220,251$68,078,416
79$91,335,687$36,943,729$28,036,554$74,140,126
80$100,553,341$38,655,386$28,877,192$80,786,473
81$110,708,090$40,447,808$29,742,887$88,075,736
82$121,895,420$42,324,856$30,634,379$96,072,078
83$134,220,554$44,290,575$31,552,431$104,846,149
84$147,799,443$46,349,206$32,497,831$114,475,740
85$162,759,864$48,505,194$33,471,385$125,046,513
86$179,242,621$50,763,199$34,473,927$136,652,800
87$197,402,878$53,128,106$35,506,314$149,398,482
88$217,411,623$55,605,035$36,569,427$163,397,962
89$239,457,281$58,199,354$37,664,175$178,777,234
90$263,747,490$60,916,689$38,791,491$195,675,062
91$290,511,065$63,762,938$39,952,338$214,244,278
92$320,000,158$66,744,286$41,147,705$234,653,216
93$352,492,632$69,867,214$42,378,611$257,087,287
94$388,294,691$73,138,518$43,646,105$281,750,714
95$427,743,766$76,565,322$44,951,266$308,868,453
96$471,211,702$80,155,094$46,295,205$338,688,299
97$519,108,266$83,915,665$47,679,065$371,483,209
98$571,885,019$87,855,242$49,104,023$407,553,869
99$630,039,573$91,982,431$50,571,290$447,231,512
100$694,120,293$96,306,254$52,082,113$490,881,031