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%18.3%
1 years$478,959$474,692$470,530$466,467$462,500$446,980
2 years$237,108$232,692$228,413$224,263$220,238$204,755
3 years$156,502$152,067$147,798$143,688$139,728$124,768
4 years$116,207$111,785$107,559$103,519$99,655$85,333
5 years$92,036$87,641$83,470$79,512$75,756$62,109
6 years$75,927$71,566$67,456$63,587$59,943$46,983
7 years$64,426$60,101$56,057$52,278$48,750$36,474
8 years$55,803$51,517$47,540$43,855$40,443$28,843
9 years$49,101$44,855$40,947$37,355$34,059$23,120
10 years$43,742$39,538$35,698$32,200$29,020$18,725
11 years$39,360$35,198$31,428$28,024$24,958$15,287
12 years$35,711$31,592$27,892$24,580$21,628$12,559
13 years$32,626$28,550$24,919$21,701$18,860$10,370
14 years$29,984$25,951$22,390$19,264$16,533$8,597
15 years$27,696$23,707$20,215$17,180$14,557$7,151
16 years$25,696$21,750$18,328$15,383$12,865$5,964
17 years$23,933$20,031$16,678$13,821$11,407$4,985
18 years$22,368$18,510$15,225$12,456$10,143$4,175
19 years$20,970$17,155$13,938$11,255$9,040$3,501
20 years$19,712$15,941$12,791$10,193$8,075$2,940
21 years$18,576$14,848$11,765$9,251$7,226$2,472
22 years$17,545$13,860$10,844$8,411$6,477$2,080
23 years$16,605$12,963$10,012$7,660$5,814$1,751
24 years$15,744$12,146$9,260$6,987$5,226$1,475
25 years$14,953$11,398$8,576$6,381$4,703$1,244
26 years$14,225$10,713$7,954$5,834$4,236$1,049
27 years$13,551$10,082$7,386$5,340$3,819$885
28 years$12,927$9,500$6,866$4,893$3,446$747
29 years$12,347$8,962$6,390$4,487$3,112$630
30 years$11,806$8,464$5,952$4,118$2,812$532
31 years$11,302$8,001$5,549$3,782$2,542$449
32 years$10,830$7,571$5,177$3,476$2,299$380
33 years$10,387$7,170$4,834$3,196$2,081$321
34 years$9,971$6,795$4,516$2,941$1,884$271
35 years$9,580$6,445$4,222$2,707$1,706$229
36 years$9,212$6,117$3,950$2,493$1,546$193
37 years$8,864$5,810$3,697$2,297$1,401$163
38 years$8,535$5,522$3,462$2,117$1,270$138
39 years$8,224$5,250$3,244$1,952$1,152$117
40 years$7,930$4,995$3,040$1,801$1,045$99
41 years$7,650$4,755$2,851$1,661$948$83
42 years$7,384$4,529$2,674$1,533$860$70
43 years$7,132$4,315$2,509$1,415$781$60
44 years$6,891$4,113$2,355$1,307$709$50
45 years$6,662$3,922$2,212$1,207$643$43
46 years$6,444$3,742$2,077$1,115$584$36
47 years$6,235$3,571$1,952$1,030$530$30
48 years$6,036$3,409$1,834$952$482$26
49 years$5,845$3,255$1,724$880$437$22
50 years$5,663$3,109$1,621$813$397$18

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 $5,326 every year, while hoping to spend $59,619 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: 58/17/25 Blend
61$5,800,000$5,800,000$5,800,000$5,800,000
62$6,397,094$6,089,694$5,999,794$6,724,521
63$6,986,163$6,324,655$6,137,353$7,183,703
64$7,633,319$6,569,130$6,277,522$7,677,304
65$8,344,425$6,823,524$6,420,325$8,214,233
66$9,125,936$7,088,257$6,565,787$8,798,699
67$9,984,969$7,363,770$6,713,928$9,435,333
68$10,929,362$7,650,520$6,864,770$10,129,233
69$11,967,749$7,948,987$7,018,332$10,886,007
70$13,109,644$8,259,673$7,174,631$11,711,832
71$14,365,531$8,583,099$7,333,684$12,613,505
72$15,746,956$8,919,813$7,495,504$13,598,508
73$17,266,646$9,270,384$7,660,103$14,675,078
74$18,938,619$9,635,408$7,827,492$15,852,287
75$20,778,323$10,015,508$7,997,678$17,140,121
76$22,802,778$10,411,333$8,170,666$18,549,575
77$25,030,736$10,823,564$8,346,458$20,092,757
78$27,482,862$11,252,909$8,525,055$21,783,002
79$30,181,923$11,700,111$8,706,454$23,634,993
80$33,153,006$12,165,943$8,890,647$25,664,902
81$36,423,754$12,651,215$9,077,625$27,890,539
82$40,024,626$13,156,774$9,267,375$30,331,521
83$43,989,185$13,683,504$9,459,879$33,009,452
84$48,354,414$14,232,327$9,655,117$35,948,129
85$53,161,064$14,804,210$9,853,062$39,173,766
86$58,454,038$15,400,163$10,053,686$42,715,236
87$64,282,818$16,021,239$10,256,953$46,604,344
88$70,701,928$16,668,542$10,462,822$50,876,126
89$77,771,448$17,343,223$10,671,250$55,569,178
90$85,557,583$18,046,489$10,882,185$60,726,018
91$94,133,288$18,779,598$11,095,569$66,393,484
92$103,578,953$19,543,868$11,311,341$72,623,179
93$113,983,164$20,340,676$11,529,428$79,471,950
94$125,443,538$21,171,460$11,749,755$87,002,428
95$138,067,644$22,037,727$11,972,237$95,283,613
96$151,974,018$22,941,049$12,196,782$104,391,526
97$167,293,281$23,883,075$12,423,288$114,409,923
98$184,169,374$24,865,523$12,651,646$125,431,084
99$202,760,912$25,890,196$12,881,738$137,556,680
100$223,242,684$26,958,974$13,113,435$150,898,732