Can I retire at age 62 with 16,700,000?

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 $16,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$1,379,070$1,366,786$1,354,802$1,343,104$1,331,681$1,288,538
2 years$682,708$669,993$657,671$645,723$634,134$591,072
3 years$450,618$437,848$425,556$413,721$402,321$360,692
4 years$334,595$321,865$309,696$298,063$286,938$247,063
5 years$265,000$252,346$240,337$228,941$218,126$180,109
6 years$218,618$206,059$194,228$183,086$172,596$136,469
7 years$185,501$173,048$161,404$150,525$140,367$106,127
8 years$160,675$148,334$136,884$126,272$116,448$84,070
9 years$141,376$129,152$117,898$107,555$98,066$67,513
10 years$125,946$113,841$102,786$92,714$83,557$54,782
11 years$113,329$101,346$90,491$80,689$71,862$44,811
12 years$102,823$90,963$80,309$70,775$62,274$36,888
13 years$93,940$82,204$71,750$62,484$54,304$30,521
14 years$86,333$74,721$64,468$55,466$47,603$25,356
15 years$79,745$68,259$58,206$49,466$41,913$21,136
16 years$73,987$62,626$52,772$44,291$37,043$17,666
17 years$68,912$57,676$48,021$39,795$32,845$14,799
18 years$64,405$53,296$43,837$35,864$29,204$12,421
19 years$60,378$49,394$40,130$32,406$26,030$10,441
20 years$56,758$45,899$36,830$29,350$23,251$8,788
21 years$53,487$42,753$33,876$26,637$20,807$7,404
22 years$50,517$39,909$31,222$24,219$18,650$6,245
23 years$47,810$37,326$28,828$22,057$16,742$5,270
24 years$45,332$34,972$26,661$20,117$15,048$4,451
25 years$43,055$32,819$24,694$18,372$13,541$3,761
26 years$40,957$30,845$22,902$16,798$12,197$3,179
27 years$39,018$29,029$21,267$15,376$10,997$2,689
28 years$37,221$27,353$19,770$14,088$9,922$2,275
29 years$35,550$25,805$18,398$12,919$8,960$1,925
30 years$33,994$24,370$17,137$11,856$8,096$1,629
31 years$32,541$23,038$15,976$10,889$7,319$1,379
32 years$31,182$21,798$14,906$10,007$6,621$1,168
33 years$29,907$20,643$13,918$9,202$5,992$989
34 years$28,710$19,565$13,004$8,467$5,425$837
35 years$27,584$18,557$12,158$7,794$4,914$709
36 years$26,523$17,614$11,373$7,178$4,452$601
37 years$25,522$16,729$10,645$6,614$4,035$509
38 years$24,576$15,898$9,969$6,096$3,658$431
39 years$23,680$15,118$9,340$5,621$3,317$365
40 years$22,832$14,383$8,754$5,185$3,009$310
41 years$22,026$13,692$8,209$4,783$2,730$262
42 years$21,262$13,039$7,700$4,415$2,477$222
43 years$20,534$12,424$7,225$4,075$2,248$188
44 years$19,842$11,843$6,782$3,763$2,040$160
45 years$19,182$11,293$6,368$3,475$1,852$135
46 years$18,553$10,773$5,981$3,210$1,682$115
47 years$17,953$10,281$5,619$2,966$1,527$97
48 years$17,379$9,814$5,281$2,740$1,387$82
49 years$16,830$9,372$4,963$2,533$1,260$70
50 years$16,305$8,953$4,666$2,341$1,144$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $16,700,000, adding $5,499 every year, while hoping to spend $35,897 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: 36/41/23 Blend
61$16,700,000$16,700,000$16,700,000$16,700,000
62$18,409,072$17,523,972$17,265,122$18,943,772
63$20,248,603$18,344,453$17,805,310$20,157,667
64$22,274,564$19,203,934$18,362,390$21,463,558
65$24,505,931$20,104,288$18,936,892$22,872,662
66$26,963,618$21,047,480$19,529,360$24,394,248
67$29,670,668$22,035,568$20,140,354$26,038,477
68$32,652,475$23,070,710$20,770,455$27,816,490
69$35,937,022$24,155,169$21,420,260$29,740,503
70$39,555,143$25,291,317$22,090,384$31,823,915
71$43,540,818$26,481,642$22,781,462$34,081,428
72$47,931,490$27,728,751$23,494,149$36,529,173
73$52,768,420$29,035,377$24,229,121$39,184,856
74$58,097,076$30,404,388$24,987,074$42,067,913
75$63,967,562$31,838,788$25,768,726$45,199,686
76$70,435,093$33,341,728$26,574,818$48,603,609
77$77,560,511$34,916,512$27,406,113$52,305,422
78$85,410,865$36,566,602$28,263,399$56,333,403
79$94,060,039$38,295,631$29,147,489$60,718,618
80$103,589,453$40,107,407$30,059,219$65,495,204
81$114,088,828$42,005,921$30,999,455$70,700,678
82$125,657,038$43,995,360$31,969,085$76,376,278
83$138,403,035$46,080,113$32,969,029$82,567,333
84$152,446,888$48,264,781$34,000,234$89,323,681
85$167,920,906$50,554,190$35,063,677$96,700,120
86$184,970,893$52,953,401$36,160,366$104,756,909
87$203,757,523$55,467,717$37,291,337$113,560,319
88$224,457,858$58,102,702$38,457,664$123,183,242
89$247,267,014$60,864,189$39,660,451$133,705,855
90$272,400,009$63,758,294$40,900,836$145,216,362
91$300,093,791$66,791,431$42,179,994$157,811,803
92$330,609,470$69,970,324$43,499,137$171,598,945
93$364,234,792$73,302,026$44,859,514$186,695,274
94$401,286,846$76,793,931$46,262,413$203,230,071
95$442,115,063$80,453,792$47,709,162$221,345,613
96$487,104,512$84,289,740$49,201,132$241,198,489
97$536,679,537$88,310,302$50,739,734$262,961,045
98$591,307,761$92,524,418$52,326,427$286,822,991
99$651,504,502$96,941,463$53,962,711$312,993,152
100$717,837,635$101,571,269$55,650,136$341,701,412