Can I retire at age 62 with 4,700,000?

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 $4,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$388,122$384,664$381,291$377,999$374,785$371,800
2 years$192,139$188,561$185,093$181,730$178,469$175,460
3 years$126,821$123,227$119,767$116,436$113,228$110,288
4 years$94,168$90,585$87,160$83,886$80,755$77,907
5 years$74,581$71,019$67,640$64,432$61,389$58,641
6 years$61,527$57,993$54,663$51,527$48,575$45,931
7 years$52,207$48,702$45,425$42,363$39,504$36,966
8 years$45,220$41,747$38,524$35,538$32,773$30,339
9 years$39,788$36,348$33,181$30,270$27,599$25,270
10 years$35,446$32,039$28,928$26,093$23,516$21,289
11 years$31,895$28,522$25,468$22,709$20,225$18,099
12 years$28,938$25,600$22,602$19,919$17,526$15,500
13 years$26,438$23,135$20,193$17,585$15,283$13,354
14 years$24,297$21,029$18,144$15,610$13,397$11,563
15 years$22,443$19,211$16,381$13,922$11,796$10,054
16 years$20,823$17,625$14,852$12,465$10,425$8,773
17 years$19,394$16,232$13,515$11,200$9,244$7,678
18 years$18,126$14,999$12,337$10,093$8,219$6,737
19 years$16,993$13,901$11,294$9,120$7,326$5,925
20 years$15,974$12,918$10,365$8,260$6,544$5,220
21 years$15,053$12,032$9,534$7,497$5,856$4,607
22 years$14,217$11,232$8,787$6,816$5,249$4,072
23 years$13,455$10,505$8,113$6,208$4,712$3,604
24 years$12,758$9,842$7,503$5,662$4,235$3,193
25 years$12,117$9,237$6,950$5,171$3,811$2,832
26 years$11,527$8,681$6,445$4,728$3,433$2,513
27 years$10,981$8,170$5,985$4,327$3,095$2,233
28 years$10,475$7,698$5,564$3,965$2,793$1,985
29 years$10,005$7,262$5,178$3,636$2,522$1,765
30 years$9,567$6,859$4,823$3,337$2,278$1,571
31 years$9,158$6,484$4,496$3,065$2,060$1,398
32 years$8,776$6,135$4,195$2,816$1,863$1,246
33 years$8,417$5,810$3,917$2,590$1,686$1,110
34 years$8,080$5,506$3,660$2,383$1,527$989
35 years$7,763$5,223$3,422$2,194$1,383$882
36 years$7,465$4,957$3,201$2,020$1,253$786
37 years$7,183$4,708$2,996$1,861$1,136$701
38 years$6,917$4,474$2,806$1,716$1,030$626
39 years$6,664$4,255$2,629$1,582$934$558
40 years$6,426$4,048$2,464$1,459$847$498
41 years$6,199$3,853$2,310$1,346$768$445
42 years$5,984$3,670$2,167$1,242$697$397
43 years$5,779$3,497$2,033$1,147$633$355
44 years$5,584$3,333$1,909$1,059$574$317
45 years$5,399$3,178$1,792$978$521$283
46 years$5,222$3,032$1,683$903$473$252
47 years$5,053$2,893$1,581$835$430$225
48 years$4,891$2,762$1,486$771$390$201
49 years$4,737$2,638$1,397$713$355$180
50 years$4,589$2,520$1,313$659$322$161

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $4,700,000, adding $3,803 every year, while hoping to spend $50,533 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: 72/6/22 Blend
61$4,700,000$4,700,000$4,700,000$4,700,000
62$5,183,323$4,934,223$4,861,373$5,528,217
63$5,658,255$5,122,233$4,970,462$5,946,516
64$6,179,937$5,317,762$5,081,512$6,398,137
65$6,753,083$5,521,125$5,194,535$6,891,538
66$7,382,888$5,732,651$5,309,543$7,430,864
67$8,075,074$5,952,682$5,426,544$8,020,680
68$8,835,946$6,181,578$5,545,548$8,666,011
69$9,672,449$6,419,712$5,666,561$9,372,395
70$10,592,236$6,667,475$5,789,587$10,145,928
71$11,603,736$6,925,274$5,914,631$10,993,326
72$12,716,239$7,193,534$6,041,693$11,921,986
73$13,939,978$7,472,700$6,170,772$12,940,057
74$15,286,230$7,763,235$6,301,866$14,056,513
75$16,767,416$8,065,625$6,434,970$15,281,241
76$18,397,226$8,380,374$6,570,075$16,625,133
77$20,190,742$8,708,012$6,707,172$18,100,186
78$22,164,583$9,049,089$6,846,247$19,719,618
79$24,337,058$9,404,182$6,987,284$21,497,989
80$26,728,344$9,773,893$7,130,263$23,451,343
81$29,360,671$10,158,850$7,275,164$25,597,352
82$32,258,536$10,559,710$7,421,958$27,955,489
83$35,448,930$10,977,159$7,570,617$30,547,206
84$38,961,595$11,411,914$7,721,107$33,396,139
85$42,829,304$11,864,724$7,873,390$36,528,330
86$47,088,167$12,336,370$8,027,423$39,972,471
87$51,777,979$12,827,671$8,183,161$43,760,177
88$56,942,586$13,339,480$8,340,550$47,926,281
89$62,630,306$13,872,690$8,499,534$52,509,162
90$68,894,380$14,428,235$8,660,051$57,551,109
91$75,793,476$15,007,088$8,822,032$63,098,718
92$83,392,244$15,610,269$8,985,404$69,203,333
93$91,761,923$16,238,842$9,150,085$75,921,526
94$100,981,015$16,893,921$9,315,989$83,315,634
95$111,136,025$17,576,670$9,483,021$91,454,346
96$122,322,277$18,288,303$9,651,079$100,413,350
97$134,644,813$19,030,094$9,820,054$110,276,046
98$148,219,386$19,803,371$9,989,828$121,134,334
99$163,173,551$20,609,524$10,160,275$133,089,481
100$179,647,869$21,450,006$10,331,259$146,253,073