Can I retire at age 62 with 4,600,000?

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 $4,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$379,864$376,480$373,179$369,957$366,810$363,282
2 years$188,051$184,549$181,155$177,864$174,672$171,117
3 years$124,122$120,605$117,219$113,959$110,819$107,349
4 years$92,164$88,657$85,306$82,101$79,037$75,678
5 years$72,994$69,508$66,201$63,062$60,083$56,844
6 years$60,218$56,759$53,500$50,431$47,541$44,428
7 years$51,096$47,666$44,459$41,462$38,664$35,677
8 years$44,258$40,859$37,704$34,781$32,075$29,214
9 years$38,942$35,575$32,475$29,626$27,012$24,276
10 years$34,692$31,357$28,312$25,538$23,016$20,403
11 years$31,216$27,916$24,926$22,226$19,794$17,303
12 years$28,322$25,056$22,121$19,495$17,153$14,781
13 years$25,876$22,643$19,764$17,211$14,958$12,702
14 years$23,780$20,582$17,758$15,278$13,112$10,969
15 years$21,966$18,802$16,033$13,625$11,545$9,512
16 years$20,380$17,250$14,536$12,200$10,203$8,277
17 years$18,982$15,887$13,227$10,962$9,047$7,224
18 years$17,740$14,680$12,075$9,879$8,044$6,321
19 years$16,631$13,605$11,054$8,926$7,170$5,543
20 years$15,634$12,643$10,145$8,084$6,404$4,869
21 years$14,733$11,776$9,331$7,337$5,731$4,285
22 years$13,915$10,993$8,600$6,671$5,137$3,776
23 years$13,169$10,281$7,941$6,075$4,611$3,332
24 years$12,487$9,633$7,344$5,541$4,145$2,943
25 years$11,860$9,040$6,802$5,061$3,730$2,602
26 years$11,282$8,496$6,308$4,627$3,360$2,302
27 years$10,748$7,996$5,858$4,235$3,029$2,038
28 years$10,252$7,534$5,446$3,880$2,733$1,806
29 years$9,792$7,108$5,068$3,558$2,468$1,601
30 years$9,364$6,713$4,720$3,266$2,230$1,420
31 years$8,963$6,346$4,401$2,999$2,016$1,260
32 years$8,589$6,004$4,106$2,756$1,824$1,119
33 years$8,238$5,686$3,834$2,535$1,650$993
34 years$7,908$5,389$3,582$2,332$1,494$883
35 years$7,598$5,112$3,349$2,147$1,353$784
36 years$7,306$4,852$3,133$1,977$1,226$697
37 years$7,030$4,608$2,932$1,822$1,111$620
38 years$6,769$4,379$2,746$1,679$1,008$551
39 years$6,523$4,164$2,573$1,548$914$490
40 years$6,289$3,962$2,411$1,428$829$436
41 years$6,067$3,771$2,261$1,318$752$388
42 years$5,856$3,592$2,121$1,216$682$345
43 years$5,656$3,422$1,990$1,122$619$307
44 years$5,465$3,262$1,868$1,036$562$273
45 years$5,284$3,111$1,754$957$510$243
46 years$5,110$2,967$1,648$884$463$216
47 years$4,945$2,832$1,548$817$421$192
48 years$4,787$2,703$1,455$755$382$171
49 years$4,636$2,582$1,367$698$347$152
50 years$4,491$2,466$1,285$645$315$136

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $4,600,000, adding $6,425 every year, while hoping to spend $30,983 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: 68/9/23 Blend
61$4,600,000$4,600,000$4,600,000$4,600,000
62$5,075,827$4,832,027$4,760,727$5,390,922
63$5,560,596$5,035,831$4,887,246$5,806,730
64$6,093,773$5,248,583$5,016,965$6,257,276
65$6,680,262$5,470,688$5,149,958$6,749,438
66$7,325,469$5,702,572$5,286,301$7,287,321
67$8,035,347$5,944,678$5,426,073$7,875,450
68$8,816,457$6,197,472$5,569,351$8,518,803
69$9,676,028$6,461,440$5,716,216$9,222,861
70$10,622,024$6,737,092$5,866,751$9,993,662
71$11,663,222$7,024,960$6,021,038$10,837,851
72$12,809,290$7,325,604$6,179,163$11,762,749
73$14,070,886$7,639,606$6,341,212$12,776,414
74$15,459,747$7,967,578$6,507,274$13,887,725
75$16,988,812$8,310,160$6,677,439$15,106,456
76$18,672,335$8,668,022$6,851,797$16,443,375
77$20,526,024$9,041,865$7,030,443$17,910,341
78$22,567,185$9,432,424$7,213,470$19,520,416
79$24,814,892$9,840,466$7,400,974$21,287,986
80$27,290,159$10,266,797$7,593,055$23,228,899
81$30,016,144$10,712,259$7,789,811$25,360,613
82$33,018,364$11,177,733$7,991,343$27,702,355
83$36,324,939$11,664,144$8,197,755$30,275,310
84$39,966,854$12,172,458$8,409,151$33,102,813
85$43,978,253$12,703,688$8,625,637$36,210,570
86$48,396,759$13,258,894$8,847,321$39,626,901
87$53,263,835$13,839,185$9,074,312$43,383,008
88$58,625,166$14,445,725$9,306,721$47,513,261
89$64,531,097$15,079,731$9,544,662$52,055,530
90$71,037,109$15,742,477$9,788,247$57,051,535
91$78,204,334$16,435,298$10,037,593$62,547,243
92$86,100,142$17,159,593$10,292,818$68,593,296
93$94,798,769$17,916,826$10,554,041$75,245,492
94$104,382,023$18,708,531$10,821,381$82,565,307
95$114,940,054$19,536,313$11,094,961$90,620,476
96$126,572,202$20,401,855$11,374,905$99,485,630
97$139,387,939$21,306,919$11,661,337$109,243,000
98$153,507,901$22,253,350$11,954,384$119,983,189
99$169,065,025$23,243,081$12,254,173$131,806,028
100$186,205,803$24,278,138$12,560,834$144,821,514