Can I retire at age 62 with 16,600,000?

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 $16,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$1,370,812$1,358,602$1,346,689$1,335,061$1,323,707$1,303,388
2 years$678,620$665,981$653,733$641,856$630,337$609,915
3 years$447,919$435,226$423,008$411,244$399,912$380,022
4 years$332,592$319,937$307,842$296,278$285,220$266,017
5 years$263,413$250,835$238,898$227,570$216,820$198,358
6 years$217,309$204,825$193,065$181,989$171,562$153,863
7 years$184,391$172,012$160,438$149,624$139,526$122,595
8 years$159,713$147,446$136,064$125,515$115,750$99,585
9 years$140,529$128,378$117,192$106,911$97,479$82,071
10 years$125,192$113,159$102,171$92,159$83,057$68,394
11 years$112,651$100,739$89,949$80,206$71,431$57,499
12 years$102,207$90,418$79,828$70,351$61,901$48,682
13 years$93,377$81,711$71,321$62,109$53,979$41,455
14 years$85,816$74,273$64,082$55,134$47,318$35,468
15 years$79,268$67,850$57,857$49,170$41,662$30,465
16 years$73,544$62,251$52,456$44,026$36,821$26,254
17 years$68,499$57,331$47,733$39,557$32,648$22,689
18 years$64,020$52,976$43,574$35,649$29,029$19,654
19 years$60,017$49,098$39,890$32,212$25,874$17,060
20 years$56,418$45,624$36,609$29,174$23,111$14,833
21 years$53,167$42,497$33,673$26,477$20,682$12,917
22 years$50,215$39,670$31,035$24,074$18,539$11,262
23 years$47,523$37,102$28,656$21,925$16,641$9,831
24 years$45,060$34,762$26,501$19,996$14,958$8,589
25 years$42,797$32,623$24,546$18,262$13,460$7,511
26 years$40,712$30,660$22,765$16,698$12,124$6,572
27 years$38,785$28,855$21,139$15,284$10,931$5,755
28 years$36,998$27,190$19,652$14,003$9,863$5,042
29 years$35,337$25,650$18,288$12,841$8,906$4,419
30 years$33,790$24,224$17,034$11,785$8,047$3,875
31 years$32,346$22,900$15,880$10,824$7,275$3,399
32 years$30,995$21,668$14,817$9,947$6,581$2,983
33 years$29,728$20,520$13,834$9,147$5,956$2,618
34 years$28,538$19,448$12,926$8,416$5,392$2,299
35 years$27,419$18,446$12,085$7,748$4,884$2,019
36 years$26,365$17,508$11,305$7,135$4,425$1,773
37 years$25,369$16,629$10,582$6,574$4,011$1,558
38 years$24,429$15,803$9,909$6,060$3,636$1,368
39 years$23,538$15,027$9,284$5,587$3,297$1,202
40 years$22,695$14,297$8,702$5,154$2,991$1,057
41 years$21,894$13,610$8,159$4,755$2,713$929
42 years$21,134$12,961$7,654$4,388$2,462$816
43 years$20,411$12,350$7,182$4,051$2,234$718
44 years$19,723$11,772$6,742$3,740$2,028$631
45 years$19,067$11,225$6,330$3,454$1,841$555
46 years$18,442$10,709$5,945$3,191$1,672$488
47 years$17,845$10,219$5,586$2,948$1,518$429
48 years$17,275$9,756$5,249$2,724$1,379$377
49 years$16,729$9,316$4,934$2,517$1,252$331
50 years$16,207$8,899$4,638$2,327$1,137$291

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $16,600,000, adding $5,856 every year, while hoping to spend $34,299 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: 49/25/26 Blend
61$16,600,000$16,600,000$16,600,000$16,600,000
62$18,299,240$17,419,440$17,162,140$19,060,682
63$20,129,269$18,236,499$17,700,578$20,410,836
64$22,144,811$19,092,444$18,255,904$21,872,963
65$24,364,753$19,989,145$18,828,648$23,460,833
66$26,809,905$20,928,561$19,419,355$25,186,344
67$29,503,202$21,912,746$20,028,590$27,062,570
68$32,469,913$22,943,855$20,656,932$29,103,877
69$35,737,886$24,024,146$21,304,982$31,326,056
70$39,337,808$25,155,987$21,973,356$33,746,464
71$43,303,494$26,341,860$22,662,693$36,384,183
72$47,672,206$27,584,367$23,373,649$39,260,194
73$52,485,008$28,886,237$24,106,903$42,397,566
74$57,787,147$30,250,332$24,863,153$45,821,672
75$63,628,488$31,679,650$25,643,120$49,560,418
76$70,063,978$33,177,337$26,447,549$53,644,499
77$77,154,167$34,746,690$27,277,205$58,107,681
78$84,965,781$36,391,167$28,132,880$62,987,115
79$93,572,349$38,114,392$29,015,390$68,323,674
80$103,054,899$39,920,168$29,925,576$74,162,336
81$113,502,722$41,812,479$30,864,306$80,552,594
82$125,014,213$43,795,504$31,832,474$87,548,917
83$137,697,804$45,873,625$32,831,003$95,211,251
84$151,672,984$48,051,437$33,860,846$103,605,581
85$167,071,427$50,333,756$34,922,983$112,804,534
86$184,038,238$52,725,635$36,018,428$122,888,060
87$202,733,317$55,232,370$37,148,224$133,944,174
88$223,332,874$57,859,515$38,313,448$146,069,771
89$246,031,090$60,612,894$39,515,211$159,371,530
90$271,041,949$63,498,613$40,754,659$173,966,909
91$298,601,260$66,523,078$42,032,972$189,985,235
92$328,968,881$69,693,001$43,351,370$207,568,916
93$362,431,174$73,015,425$44,711,107$226,874,767
94$399,303,706$76,497,733$46,113,482$248,075,470
95$439,934,230$80,147,668$47,559,829$271,361,197
96$484,705,965$83,973,348$49,051,527$296,941,378
97$534,041,219$87,983,287$50,589,999$325,046,664
98$588,405,369$92,186,414$52,176,709$355,931,087
99$648,311,258$96,592,090$53,813,171$389,874,433
100$714,324,037$101,210,133$55,500,943$427,184,865