Can I retire at age 62 with 4,800,000?

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 $4,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$396,380$392,849$389,404$386,042$382,759$376,108
2 years$196,227$192,573$189,031$185,597$182,266$175,587
3 years$129,519$125,849$122,316$118,914$115,637$109,138
4 years$96,171$92,512$89,014$85,671$82,473$76,204
5 years$76,168$72,531$69,079$65,803$62,695$56,674
6 years$62,836$59,227$55,826$52,623$49,608$43,842
7 years$53,318$49,738$46,392$43,265$40,345$34,835
8 years$46,182$42,635$39,344$36,294$33,470$28,215
9 years$40,635$37,121$33,887$30,914$28,187$23,184
10 years$36,200$32,721$29,543$26,648$24,016$19,261
11 years$32,574$29,129$26,009$23,192$20,655$16,142
12 years$29,554$26,145$23,083$20,342$17,899$13,623
13 years$27,001$23,627$20,623$17,959$15,608$11,563
14 years$24,814$21,477$18,530$15,942$13,682$9,859
15 years$22,921$19,619$16,730$14,218$12,047$8,440
16 years$21,266$18,000$15,168$12,730$10,647$7,248
17 years$19,807$16,578$13,802$11,438$9,440$6,241
18 years$18,512$15,318$12,600$10,308$8,394$5,387
19 years$17,354$14,197$11,534$9,314$7,482$4,659
20 years$16,314$13,193$10,586$8,436$6,683$4,036
21 years$15,373$12,288$9,737$7,656$5,980$3,501
22 years$14,520$11,471$8,974$6,961$5,361$3,041
23 years$13,742$10,728$8,286$6,340$4,812$2,644
24 years$13,029$10,052$7,663$5,782$4,325$2,301
25 years$12,375$9,433$7,098$5,281$3,892$2,004
26 years$11,772$8,866$6,583$4,828$3,506$1,747
27 years$11,215$8,344$6,113$4,419$3,161$1,523
28 years$10,698$7,862$5,682$4,049$2,852$1,329
29 years$10,218$7,417$5,288$3,713$2,575$1,160
30 years$9,771$7,005$4,926$3,408$2,327$1,013
31 years$9,353$6,622$4,592$3,130$2,104$885
32 years$8,962$6,265$4,284$2,876$1,903$774
33 years$8,596$5,933$4,000$2,645$1,722$676
34 years$8,252$5,624$3,738$2,434$1,559$591
35 years$7,928$5,334$3,494$2,240$1,412$517
36 years$7,624$5,063$3,269$2,063$1,280$452
37 years$7,336$4,808$3,060$1,901$1,160$396
38 years$7,064$4,570$2,865$1,752$1,051$346
39 years$6,806$4,345$2,684$1,616$953$303
40 years$6,562$4,134$2,516$1,490$865$265
41 years$6,331$3,935$2,359$1,375$785$232
42 years$6,111$3,748$2,213$1,269$712$203
43 years$5,902$3,571$2,077$1,171$646$178
44 years$5,703$3,404$1,949$1,082$586$155
45 years$5,513$3,246$1,830$999$532$136
46 years$5,333$3,096$1,719$923$483$119
47 years$5,160$2,955$1,615$852$439$104
48 years$4,995$2,821$1,518$788$399$91
49 years$4,837$2,694$1,427$728$362$80
50 years$4,686$2,573$1,341$673$329$70

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $4,800,000, adding $3,622 every year, while hoping to spend $59,385 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: 69/9/22 Blend
61$4,800,000$4,800,000$4,800,000$4,800,000
62$5,293,336$5,038,936$4,964,536$5,629,152
63$5,770,071$5,222,659$5,067,663$6,037,944
64$6,293,443$5,413,394$5,172,254$6,477,857
65$6,868,146$5,611,421$5,278,296$6,957,824
66$7,499,350$5,817,035$5,385,773$7,481,803
67$8,192,753$6,030,539$5,494,665$8,054,148
68$8,954,630$6,252,251$5,604,953$8,679,657
69$9,791,894$6,482,504$5,716,611$9,363,613
70$10,712,162$6,721,641$5,829,612$10,111,833
71$11,723,824$6,970,023$5,943,925$10,930,725
72$12,836,125$7,228,025$6,059,518$11,827,346
73$14,059,250$7,496,038$6,176,351$12,809,469
74$15,404,419$7,774,469$6,294,384$13,885,656
75$16,883,996$8,063,744$6,413,572$15,065,336
76$18,511,601$8,364,306$6,533,865$16,358,900
77$20,302,244$8,676,616$6,655,209$17,777,789
78$22,272,460$9,001,158$6,777,546$19,334,610
79$24,440,469$9,338,432$6,900,812$21,043,250
80$26,826,346$9,688,964$7,024,937$22,919,007
81$29,452,209$10,053,300$7,149,849$24,978,737
82$32,342,433$10,432,010$7,275,468$27,241,006
83$35,523,871$10,825,688$7,401,706$29,726,273
84$39,026,116$11,234,956$7,528,473$32,457,076
85$42,881,771$11,660,461$7,655,668$35,458,245
86$47,126,766$12,102,878$7,783,187$38,757,140
87$51,800,688$12,562,911$7,910,916$42,383,905
88$56,947,161$13,041,296$8,038,734$46,371,750
89$62,614,252$13,538,801$8,166,513$50,757,271
90$68,854,929$14,056,225$8,294,114$55,580,785
91$75,727,556$14,594,405$8,421,392$60,886,720
92$83,296,449$15,154,212$8,548,190$66,724,026
93$91,632,476$15,736,557$8,674,343$73,146,639
94$100,813,731$16,342,391$8,799,676$80,213,990
95$110,926,268$16,972,705$8,924,002$87,991,564
96$122,064,914$17,628,535$9,047,123$96,551,520
97$134,334,164$18,310,962$9,168,830$105,973,368
98$147,849,164$19,021,114$9,288,902$116,344,719
99$162,736,801$19,760,171$9,407,102$127,762,114
100$179,136,898$20,529,362$9,523,183$140,331,932