Can I retire at age 62 with 5,600,000?

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 $5,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$462,443$458,324$454,305$450,382$446,552$442,441
2 years$228,932$224,668$220,536$216,530$212,644$208,502
3 years$151,105$146,823$142,702$138,733$134,910$130,865
4 years$112,200$107,931$103,850$99,949$96,219$92,303
5 years$88,862$84,619$80,592$76,771$73,144$69,368
6 years$73,309$69,098$65,130$61,394$57,876$54,245
7 years$62,204$58,028$54,124$50,475$47,069$43,584
8 years$53,879$49,741$45,901$42,343$39,048$35,710
9 years$47,408$43,308$39,535$36,066$32,884$29,691
10 years$42,233$38,174$34,467$31,090$28,019$24,969
11 years$38,003$33,984$30,344$27,057$24,097$21,189
12 years$34,480$30,502$26,930$23,733$20,882$18,112
13 years$31,501$27,565$24,060$20,953$18,210$15,574
14 years$28,950$25,056$21,618$18,599$15,963$13,458
15 years$26,741$22,889$19,518$16,587$14,055$11,678
16 years$24,810$21,000$17,696$14,852$12,422$10,169
17 years$23,108$19,341$16,103$13,345$11,014$8,882
18 years$21,597$17,872$14,700$12,026$9,793$7,777
19 years$20,247$16,563$13,457$10,867$8,729$6,824
20 years$19,033$15,391$12,350$9,842$7,797$6,000
21 years$17,936$14,336$11,360$8,932$6,977$5,283
22 years$16,940$13,383$10,470$8,121$6,254$4,659
23 years$16,032$12,516$9,667$7,396$5,614$4,114
24 years$15,201$11,727$8,940$6,746$5,046$3,637
25 years$14,438$11,005$8,280$6,161$4,541$3,218
26 years$13,734$10,343$7,680$5,633$4,090$2,849
27 years$13,084$9,734$7,131$5,156$3,687$2,525
28 years$12,481$9,172$6,629$4,724$3,327$2,239
29 years$11,921$8,653$6,169$4,332$3,004$1,987
30 years$11,399$8,172$5,746$3,976$2,715$1,764
31 years$10,912$7,725$5,357$3,651$2,454$1,566
32 years$10,456$7,310$4,998$3,356$2,220$1,392
33 years$10,029$6,922$4,667$3,086$2,009$1,237
34 years$9,627$6,561$4,361$2,839$1,819$1,100
35 years$9,250$6,223$4,077$2,614$1,648$978
36 years$8,894$5,906$3,814$2,407$1,493$870
37 years$8,558$5,610$3,570$2,218$1,353$774
38 years$8,241$5,331$3,343$2,044$1,227$689
39 years$7,941$5,069$3,132$1,885$1,112$613
40 years$7,656$4,823$2,936$1,739$1,009$546
41 years$7,386$4,591$2,753$1,604$915$486
42 years$7,130$4,372$2,582$1,480$831$432
43 years$6,886$4,166$2,423$1,367$754$385
44 years$6,654$3,971$2,274$1,262$684$343
45 years$6,432$3,787$2,135$1,165$621$305
46 years$6,221$3,613$2,006$1,076$564$272
47 years$6,020$3,447$1,884$994$512$242
48 years$5,828$3,291$1,771$919$465$216
49 years$5,644$3,143$1,664$849$422$192
50 years$5,468$3,002$1,565$785$384$171

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $5,600,000, adding $2,054 every year, while hoping to spend $28,473 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: 88/5/7 Blend
61$5,600,000$5,600,000$5,600,000$5,600,000
62$6,173,319$5,876,519$5,789,719$6,713,518
63$6,772,702$6,134,173$5,953,379$7,323,195
64$7,432,268$6,403,498$6,121,568$7,989,200
65$8,158,126$6,685,036$6,294,407$8,720,471
66$8,957,006$6,979,354$6,472,020$9,523,575
67$9,836,324$7,287,046$6,654,537$10,405,745
68$10,804,252$7,608,734$6,842,087$11,374,946
69$11,869,795$7,945,071$7,034,806$12,439,955
70$13,042,874$8,296,739$7,232,831$13,610,439
71$14,334,420$8,664,453$7,436,305$14,897,049
72$15,756,482$9,048,962$7,645,372$16,311,515
73$17,322,332$9,451,050$7,860,181$17,866,764
74$19,046,598$9,871,539$8,080,885$19,577,032
75$20,945,397$10,311,290$8,307,640$21,458,007
76$23,036,488$10,771,204$8,540,607$23,526,972
77$25,339,443$11,252,226$8,779,950$25,802,965
78$27,875,826$11,755,345$9,025,838$28,306,964
79$30,669,400$12,281,597$9,278,444$31,062,081
80$33,746,351$12,832,068$9,537,944$34,093,780
81$37,135,535$13,407,895$9,804,521$37,430,115
82$40,868,748$14,010,270$10,078,361$41,101,999
83$44,981,028$14,640,441$10,359,654$45,143,489
84$49,510,986$15,299,716$10,648,596$49,592,111
85$54,501,170$15,989,465$10,945,387$54,489,213
86$59,998,464$16,711,124$11,250,232$59,880,353
87$66,054,535$17,466,197$11,563,342$65,815,728
88$72,726,316$18,256,259$11,884,933$72,350,649
89$80,076,547$19,082,962$12,215,225$79,546,060
90$88,174,364$19,948,037$12,554,444$87,469,115
91$97,095,954$20,853,295$12,902,823$96,193,809
92$106,925,272$21,800,637$13,260,597$105,801,674
93$117,754,834$22,792,053$13,628,012$116,382,553
94$129,686,592$23,829,628$14,005,315$128,035,440
95$142,832,893$24,915,549$14,392,762$140,869,419
96$157,317,543$26,052,105$14,790,614$155,004,692
97$173,276,971$27,241,697$15,199,139$170,573,706
98$190,861,521$28,486,840$15,618,609$187,722,413
99$210,236,870$29,790,169$16,049,307$206,611,638
100$231,585,590$31,154,446$16,491,518$227,418,596