Can I retire at age 62 with 5,800,000?

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 $5,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$478,959$474,692$470,530$466,467$462,500$452,238
2 years$237,108$232,692$228,413$224,263$220,238$209,953
3 years$156,502$152,067$147,798$143,688$139,728$129,740
4 years$116,207$111,785$107,559$103,519$99,655$90,042
5 years$92,036$87,641$83,470$79,512$75,756$66,545
6 years$75,927$71,566$67,456$63,587$59,943$51,143
7 years$64,426$60,101$56,057$52,278$48,750$40,363
8 years$55,803$51,517$47,540$43,855$40,443$32,466
9 years$49,101$44,855$40,947$37,355$34,059$26,485
10 years$43,742$39,538$35,698$32,200$29,020$21,842
11 years$39,360$35,198$31,428$28,024$24,958$18,167
12 years$35,711$31,592$27,892$24,580$21,628$15,213
13 years$32,626$28,550$24,919$21,701$18,860$12,810
14 years$29,984$25,951$22,390$19,264$16,533$10,834
15 years$27,696$23,707$20,215$17,180$14,557$9,198
16 years$25,696$21,750$18,328$15,383$12,865$7,832
17 years$23,933$20,031$16,678$13,821$11,407$6,687
18 years$22,368$18,510$15,225$12,456$10,143$5,721
19 years$20,970$17,155$13,938$11,255$9,040$4,904
20 years$19,712$15,941$12,791$10,193$8,075$4,210
21 years$18,576$14,848$11,765$9,251$7,226$3,619
22 years$17,545$13,860$10,844$8,411$6,477$3,114
23 years$16,605$12,963$10,012$7,660$5,814$2,683
24 years$15,744$12,146$9,260$6,987$5,226$2,313
25 years$14,953$11,398$8,576$6,381$4,703$1,995
26 years$14,225$10,713$7,954$5,834$4,236$1,722
27 years$13,551$10,082$7,386$5,340$3,819$1,488
28 years$12,927$9,500$6,866$4,893$3,446$1,285
29 years$12,347$8,962$6,390$4,487$3,112$1,111
30 years$11,806$8,464$5,952$4,118$2,812$961
31 years$11,302$8,001$5,549$3,782$2,542$831
32 years$10,830$7,571$5,177$3,476$2,299$719
33 years$10,387$7,170$4,834$3,196$2,081$622
34 years$9,971$6,795$4,516$2,941$1,884$539
35 years$9,580$6,445$4,222$2,707$1,706$466
36 years$9,212$6,117$3,950$2,493$1,546$404
37 years$8,864$5,810$3,697$2,297$1,401$349
38 years$8,535$5,522$3,462$2,117$1,270$303
39 years$8,224$5,250$3,244$1,952$1,152$262
40 years$7,930$4,995$3,040$1,801$1,045$227
41 years$7,650$4,755$2,851$1,661$948$197
42 years$7,384$4,529$2,674$1,533$860$170
43 years$7,132$4,315$2,509$1,415$781$148
44 years$6,891$4,113$2,355$1,307$709$128
45 years$6,662$3,922$2,212$1,207$643$111
46 years$6,444$3,742$2,077$1,115$584$96
47 years$6,235$3,571$1,952$1,030$530$83
48 years$6,036$3,409$1,834$952$482$72
49 years$5,845$3,255$1,724$880$437$62
50 years$5,663$3,109$1,621$813$397$54

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $5,800,000, adding $2,571 every year, while hoping to spend $29,585 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: 75/6/19 Blend
61$5,800,000$5,800,000$5,800,000$5,800,000
62$6,394,252$6,086,852$5,996,952$6,845,320
63$7,014,987$6,353,630$6,166,372$7,411,345
64$7,698,046$6,632,488$6,340,475$8,027,718
65$8,449,755$6,923,987$6,519,389$8,702,571
66$9,277,082$7,228,715$6,703,241$9,441,730
67$10,187,708$7,547,286$6,892,163$10,251,605
68$11,190,096$7,880,345$7,086,292$11,139,257
69$12,293,570$8,228,565$7,285,767$12,112,465
70$13,508,403$8,592,654$7,490,730$13,179,790
71$14,845,918$8,973,352$7,701,326$14,350,667
72$16,318,588$9,371,433$7,917,707$15,635,482
73$17,940,160$9,787,708$8,140,026$17,045,680
74$19,725,780$10,223,030$8,368,441$18,593,863
75$21,692,139$10,678,287$8,603,113$20,293,913
76$23,857,627$11,154,414$8,844,207$22,161,123
77$26,242,511$11,652,386$9,091,895$24,212,336
78$28,869,123$12,173,229$9,346,349$26,466,110
79$31,762,071$12,718,014$9,607,748$28,942,885
80$34,948,470$13,287,865$9,876,276$31,665,180
81$38,458,202$13,883,958$10,152,119$34,657,801
82$42,324,194$14,507,527$10,435,471$37,948,080
83$46,582,729$15,159,864$10,726,527$41,566,125
84$51,273,792$15,842,322$11,025,489$45,545,106
85$56,441,441$16,556,318$11,332,566$49,921,569
86$62,134,228$17,303,338$11,647,967$54,735,777
87$68,405,657$18,084,938$11,971,911$60,032,091
88$75,314,683$18,902,750$12,304,619$65,859,386
89$82,926,278$19,758,481$12,646,321$72,271,511
90$91,312,034$20,653,922$12,997,248$79,327,798
91$100,550,846$21,590,949$13,357,641$87,093,618
92$110,729,654$22,571,528$13,727,744$95,640,999
93$121,944,263$23,597,717$14,107,808$105,049,302
94$134,300,249$24,671,676$14,498,090$115,405,972
95$147,913,951$25,795,665$14,898,853$126,807,360
96$162,913,576$26,972,054$15,310,366$139,359,628
97$179,440,403$28,203,328$15,732,906$153,179,756
98$197,650,121$29,492,087$16,166,755$168,396,639
99$217,714,293$30,841,060$16,612,201$185,152,304
100$239,821,983$32,253,103$17,069,542$203,603,249