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

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 $16,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$1,379,070$1,366,786$1,354,802$1,343,104$1,331,681$1,299,489
2 years$682,708$669,993$657,671$645,723$634,134$601,894
3 years$450,618$437,848$425,556$413,721$402,321$371,041
4 years$334,595$321,865$309,696$298,063$286,938$256,859
5 years$265,000$252,346$240,337$228,941$218,126$189,332
6 years$218,618$206,059$194,228$183,086$172,596$145,116
7 years$185,501$173,048$161,404$150,525$140,367$114,204
8 years$160,675$148,334$136,884$126,272$116,448$91,591
9 years$141,376$129,152$117,898$107,555$98,066$74,496
10 years$125,946$113,841$102,786$92,714$83,557$61,247
11 years$113,329$101,346$90,491$80,689$71,862$50,779
12 years$102,823$90,963$80,309$70,775$62,274$42,384
13 years$93,940$82,204$71,750$62,484$54,304$35,569
14 years$86,333$74,721$64,468$55,466$47,603$29,981
15 years$79,745$68,259$58,206$49,466$41,913$25,363
16 years$73,987$62,626$52,772$44,291$37,043$21,521
17 years$68,912$57,676$48,021$39,795$32,845$18,307
18 years$64,405$53,296$43,837$35,864$29,204$15,606
19 years$60,378$49,394$40,130$32,406$26,030$13,327
20 years$56,758$45,899$36,830$29,350$23,251$11,398
21 years$53,487$42,753$33,876$26,637$20,807$9,760
22 years$50,517$39,909$31,222$24,219$18,650$8,367
23 years$47,810$37,326$28,828$22,057$16,742$7,179
24 years$45,332$34,972$26,661$20,117$15,048$6,165
25 years$43,055$32,819$24,694$18,372$13,541$5,298
26 years$40,957$30,845$22,902$16,798$12,197$4,555
27 years$39,018$29,029$21,267$15,376$10,997$3,918
28 years$37,221$27,353$19,770$14,088$9,922$3,372
29 years$35,550$25,805$18,398$12,919$8,960$2,903
30 years$33,994$24,370$17,137$11,856$8,096$2,500
31 years$32,541$23,038$15,976$10,889$7,319$2,153
32 years$31,182$21,798$14,906$10,007$6,621$1,855
33 years$29,907$20,643$13,918$9,202$5,992$1,599
34 years$28,710$19,565$13,004$8,467$5,425$1,378
35 years$27,584$18,557$12,158$7,794$4,914$1,188
36 years$26,523$17,614$11,373$7,178$4,452$1,024
37 years$25,522$16,729$10,645$6,614$4,035$883
38 years$24,576$15,898$9,969$6,096$3,658$761
39 years$23,680$15,118$9,340$5,621$3,317$657
40 years$22,832$14,383$8,754$5,185$3,009$566
41 years$22,026$13,692$8,209$4,783$2,730$488
42 years$21,262$13,039$7,700$4,415$2,477$421
43 years$20,534$12,424$7,225$4,075$2,248$363
44 years$19,842$11,843$6,782$3,763$2,040$313
45 years$19,182$11,293$6,368$3,475$1,852$270
46 years$18,553$10,773$5,981$3,210$1,682$233
47 years$17,953$10,281$5,619$2,966$1,527$201
48 years$17,379$9,814$5,281$2,740$1,387$174
49 years$16,830$9,372$4,963$2,533$1,260$150
50 years$16,305$8,953$4,666$2,341$1,144$129

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 $6,014 every year, while hoping to spend $33,279 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: 30/45/25 Blend
61$16,700,000$16,700,000$16,700,000$16,700,000
62$18,409,603$17,524,503$17,265,653$18,819,291
63$20,251,974$18,347,796$17,808,644$19,959,849
64$22,281,152$19,210,314$18,368,710$21,182,622
65$24,516,155$20,113,944$18,946,387$22,497,400
66$26,977,941$21,060,666$19,542,230$23,912,190
67$29,689,606$22,052,554$20,156,809$25,435,754
68$32,676,598$23,091,781$20,790,714$27,077,682
69$35,966,960$24,180,628$21,444,553$28,848,481
70$39,591,596$25,321,484$22,118,951$30,759,657
71$43,584,559$26,516,857$22,814,556$32,823,818
72$47,983,375$27,769,374$23,532,035$35,054,783
73$52,829,396$29,081,790$24,272,074$37,467,701
74$58,168,189$30,456,993$25,035,384$40,079,183
75$64,049,971$31,898,012$25,822,696$42,907,451
76$70,530,076$33,408,023$26,634,764$45,972,491
77$77,669,483$34,990,355$27,472,368$49,296,237
78$85,535,387$36,648,499$28,336,309$52,902,758
79$94,201,838$38,386,117$29,227,417$56,818,477
80$103,750,434$40,207,045$30,146,544$61,072,404
81$114,271,098$42,115,310$31,094,573$65,696,394
82$125,862,920$44,115,130$32,072,411$70,725,433
83$138,635,098$46,210,931$33,080,996$76,197,954
84$152,707,963$48,407,352$34,121,295$82,156,177
85$168,214,121$50,709,259$35,194,305$88,646,498
86$185,299,701$53,121,752$36,301,053$95,719,899
87$204,125,734$55,650,181$37,442,602$103,432,416
88$224,869,674$58,300,155$38,620,044$111,845,648
89$247,727,075$61,077,556$39,834,509$121,027,312
90$272,913,432$63,988,552$41,087,161$131,051,864
91$300,666,220$67,039,609$42,379,199$142,001,175
92$331,247,135$70,237,511$43,711,863$153,965,284
93$364,944,562$73,589,367$45,086,429$167,043,218
94$402,076,297$77,102,637$46,504,215$181,343,902
95$442,992,553$80,785,140$47,966,580$196,987,158
96$488,079,258$84,645,076$49,474,924$214,104,808
97$537,761,703$88,691,045$51,030,695$232,841,885
98$592,508,555$92,932,065$52,635,382$253,357,974
99$652,836,284$97,377,593$54,290,524$275,828,682
100$719,314,035$102,037,544$55,997,706$300,447,258