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%11.8%
1 years$1,379,070$1,366,786$1,354,802$1,343,104$1,331,681$1,321,628
2 years$682,708$669,993$657,671$645,723$634,134$623,998
3 years$450,618$437,848$425,556$413,721$402,321$392,416
4 years$334,595$321,865$309,696$298,063$286,938$277,342
5 years$265,000$252,346$240,337$228,941$218,126$208,866
6 years$218,618$206,059$194,228$183,086$172,596$163,683
7 years$185,501$173,048$161,404$150,525$140,367$131,806
8 years$160,675$148,334$136,884$126,272$116,448$108,239
9 years$141,376$129,152$117,898$107,555$98,066$90,207
10 years$125,946$113,841$102,786$92,714$83,557$76,043
11 years$113,329$101,346$90,491$80,689$71,862$64,688
12 years$102,823$90,963$80,309$70,775$62,274$55,434
13 years$93,940$82,204$71,750$62,484$54,304$47,790
14 years$86,333$74,721$64,468$55,466$47,603$41,407
15 years$79,745$68,259$58,206$49,466$41,913$36,027
16 years$73,987$62,626$52,772$44,291$37,043$31,457
17 years$68,912$57,676$48,021$39,795$32,845$27,551
18 years$64,405$53,296$43,837$35,864$29,204$24,192
19 years$60,378$49,394$40,130$32,406$26,030$21,290
20 years$56,758$45,899$36,830$29,350$23,251$18,772
21 years$53,487$42,753$33,876$26,637$20,807$16,580
22 years$50,517$39,909$31,222$24,219$18,650$14,666
23 years$47,810$37,326$28,828$22,057$16,742$12,989
24 years$45,332$34,972$26,661$20,117$15,048$11,517
25 years$43,055$32,819$24,694$18,372$13,541$10,222
26 years$40,957$30,845$22,902$16,798$12,197$9,080
27 years$39,018$29,029$21,267$15,376$10,997$8,072
28 years$37,221$27,353$19,770$14,088$9,922$7,181
29 years$35,550$25,805$18,398$12,919$8,960$6,392
30 years$33,994$24,370$17,137$11,856$8,096$5,693
31 years$32,541$23,038$15,976$10,889$7,319$5,072
32 years$31,182$21,798$14,906$10,007$6,621$4,521
33 years$29,907$20,643$13,918$9,202$5,992$4,032
34 years$28,710$19,565$13,004$8,467$5,425$3,596
35 years$27,584$18,557$12,158$7,794$4,914$3,209
36 years$26,523$17,614$11,373$7,178$4,452$2,864
37 years$25,522$16,729$10,645$6,614$4,035$2,557
38 years$24,576$15,898$9,969$6,096$3,658$2,283
39 years$23,680$15,118$9,340$5,621$3,317$2,039
40 years$22,832$14,383$8,754$5,185$3,009$1,821
41 years$22,026$13,692$8,209$4,783$2,730$1,627
42 years$21,262$13,039$7,700$4,415$2,477$1,454
43 years$20,534$12,424$7,225$4,075$2,248$1,299
44 years$19,842$11,843$6,782$3,763$2,040$1,161
45 years$19,182$11,293$6,368$3,475$1,852$1,038
46 years$18,553$10,773$5,981$3,210$1,682$927
47 years$17,953$10,281$5,619$2,966$1,527$829
48 years$17,379$9,814$5,281$2,740$1,387$741
49 years$16,830$9,372$4,963$2,533$1,260$662
50 years$16,305$8,953$4,666$2,341$1,144$592

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 $3,931 every year, while hoping to spend $58,148 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: 35/44/21 Blend
61$16,700,000$16,700,000$16,700,000$16,700,000
62$18,407,455$17,522,355$17,263,505$18,933,897
63$20,223,146$18,319,081$17,779,963$20,118,275
64$22,222,089$19,152,898$18,311,774$21,389,671
65$24,422,914$20,025,562$18,859,390$22,760,297
66$26,846,150$20,938,913$19,423,278$24,239,021
67$29,514,416$21,894,879$20,003,917$25,835,564
68$32,452,640$22,895,481$20,601,802$27,560,579
69$35,688,286$23,942,837$21,217,439$29,425,746
70$39,251,621$25,039,166$21,851,353$31,443,879
71$43,175,995$26,186,793$22,504,082$33,629,029
72$47,498,157$27,388,157$23,176,180$35,996,618
73$52,258,604$28,645,811$23,868,216$38,563,567
74$57,501,958$29,962,433$24,580,778$41,348,450
75$63,277,394$31,340,827$25,314,470$44,371,660
76$69,639,096$32,783,936$26,069,913$47,655,589
77$76,646,775$34,294,840$26,847,746$51,224,829
78$84,366,229$35,876,770$27,648,628$55,106,391
79$92,869,964$37,533,112$28,473,237$59,329,951
80$102,237,879$39,267,413$29,322,269$63,928,115
81$112,558,019$41,083,393$30,196,442$68,936,715
82$123,927,408$42,984,950$31,096,493$74,395,133
83$136,452,961$44,976,170$32,023,183$80,346,656
84$150,252,497$47,061,336$32,977,294$86,838,875
85$165,455,847$49,244,937$33,959,629$93,924,111
86$182,206,084$51,531,679$34,971,017$101,659,901
87$200,660,867$53,926,494$36,012,308$110,109,514
88$220,993,936$56,434,553$37,084,381$119,342,539
89$243,396,746$59,061,275$38,188,137$129,435,519
90$268,080,278$61,812,341$39,324,503$140,472,651
91$295,277,027$64,693,707$40,494,435$152,546,566
92$325,243,201$67,711,615$41,698,915$165,759,178
93$358,261,134$70,872,611$42,938,955$180,222,624
94$394,641,954$74,183,553$44,215,595$196,060,298
95$434,728,521$77,651,635$45,529,905$213,407,994
96$478,898,660$81,284,395$46,882,987$232,415,157
97$527,568,730$85,089,737$48,275,973$253,246,272
98$581,197,553$89,075,946$49,710,031$276,082,384
99$640,290,745$93,251,709$51,186,359$301,122,780
100$705,405,491$97,626,133$52,706,191$328,586,836