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%16.1%
1 years$478,959$474,692$470,530$466,467$462,500$450,953
2 years$237,108$232,692$228,413$224,263$220,238$208,678
3 years$156,502$152,067$147,798$143,688$139,728$128,516
4 years$116,207$111,785$107,559$103,519$99,655$88,878
5 years$92,036$87,641$83,470$79,512$75,756$65,443
6 years$75,927$71,566$67,456$63,587$59,943$50,105
7 years$64,426$60,101$56,057$52,278$48,750$39,387
8 years$55,803$51,517$47,540$43,855$40,443$31,552
9 years$49,101$44,855$40,947$37,355$34,059$25,632
10 years$43,742$39,538$35,698$32,200$29,020$21,047
11 years$39,360$35,198$31,428$28,024$24,958$17,428
12 years$35,711$31,592$27,892$24,580$21,628$14,527
13 years$32,626$28,550$24,919$21,701$18,860$12,175
14 years$29,984$25,951$22,390$19,264$16,533$10,248
15 years$27,696$23,707$20,215$17,180$14,557$8,658
16 years$25,696$21,750$18,328$15,383$12,865$7,336
17 years$23,933$20,031$16,678$13,821$11,407$6,231
18 years$22,368$18,510$15,225$12,456$10,143$5,304
19 years$20,970$17,155$13,938$11,255$9,040$4,523
20 years$19,712$15,941$12,791$10,193$8,075$3,862
21 years$18,576$14,848$11,765$9,251$7,226$3,302
22 years$17,545$13,860$10,844$8,411$6,477$2,826
23 years$16,605$12,963$10,012$7,660$5,814$2,421
24 years$15,744$12,146$9,260$6,987$5,226$2,076
25 years$14,953$11,398$8,576$6,381$4,703$1,781
26 years$14,225$10,713$7,954$5,834$4,236$1,529
27 years$13,551$10,082$7,386$5,340$3,819$1,313
28 years$12,927$9,500$6,866$4,893$3,446$1,128
29 years$12,347$8,962$6,390$4,487$3,112$970
30 years$11,806$8,464$5,952$4,118$2,812$834
31 years$11,302$8,001$5,549$3,782$2,542$717
32 years$10,830$7,571$5,177$3,476$2,299$617
33 years$10,387$7,170$4,834$3,196$2,081$530
34 years$9,971$6,795$4,516$2,941$1,884$456
35 years$9,580$6,445$4,222$2,707$1,706$393
36 years$9,212$6,117$3,950$2,493$1,546$338
37 years$8,864$5,810$3,697$2,297$1,401$291
38 years$8,535$5,522$3,462$2,117$1,270$251
39 years$8,224$5,250$3,244$1,952$1,152$216
40 years$7,930$4,995$3,040$1,801$1,045$186
41 years$7,650$4,755$2,851$1,661$948$160
42 years$7,384$4,529$2,674$1,533$860$138
43 years$7,132$4,315$2,509$1,415$781$119
44 years$6,891$4,113$2,355$1,307$709$102
45 years$6,662$3,922$2,212$1,207$643$88
46 years$6,444$3,742$2,077$1,115$584$76
47 years$6,235$3,571$1,952$1,030$530$65
48 years$6,036$3,409$1,834$952$482$56
49 years$5,845$3,255$1,724$880$437$48
50 years$5,663$3,109$1,621$813$397$42

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 $5,137 every year, while hoping to spend $26,558 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: 47/27/26 Blend
61$5,800,000$5,800,000$5,800,000$5,800,000
62$6,396,899$6,089,499$5,999,599$6,649,720
63$7,021,125$6,359,627$6,172,328$7,098,299
64$7,708,132$6,642,101$6,349,953$7,581,925
65$8,464,296$6,937,498$6,532,611$8,106,384
66$9,296,641$7,246,423$6,720,441$8,675,523
67$10,212,909$7,569,508$6,913,586$9,293,571
68$11,221,628$7,907,416$7,112,193$9,965,171
69$12,332,197$8,260,843$7,316,415$10,695,429
70$13,554,972$8,630,515$7,526,406$11,489,957
71$14,901,365$9,017,195$7,742,325$12,354,924
72$16,383,948$9,421,682$7,964,338$13,297,113
73$18,016,579$9,844,812$8,192,611$14,323,982
74$19,814,523$10,287,462$8,427,317$15,443,734
75$21,794,607$10,750,549$8,668,634$16,665,390
76$23,975,367$11,235,036$8,916,743$17,998,874
77$26,377,232$11,741,931$9,171,832$19,455,102
78$29,022,714$12,272,290$9,434,093$21,046,085
79$31,936,618$12,827,219$9,703,722$22,785,036
80$35,146,278$13,407,878$9,980,921$24,686,495
81$38,681,815$14,015,480$10,265,899$26,766,464
82$42,576,421$14,651,300$10,558,868$29,042,552
83$46,866,673$15,316,670$10,860,046$31,534,140
84$51,592,875$16,012,989$11,169,659$34,262,559
85$56,799,442$16,741,719$11,487,937$37,251,290
86$62,535,318$17,504,397$11,815,116$40,526,183
87$68,854,437$18,302,629$12,151,439$44,115,691
88$75,816,233$19,138,100$12,497,155$48,051,142
89$83,486,199$20,012,578$12,852,520$52,367,028
90$91,936,508$20,927,910$13,217,796$57,101,323
91$101,246,692$21,886,038$13,593,253$62,295,843
92$111,504,393$22,888,993$13,979,165$67,996,630
93$122,806,192$23,938,904$14,375,818$74,254,388
94$135,258,518$25,038,005$14,783,502$81,124,950
95$148,978,652$26,188,633$15,202,515$88,669,805
96$164,095,839$27,393,240$15,633,164$96,956,669
97$180,752,503$28,654,397$16,075,763$106,060,122
98$199,105,590$29,974,795$16,530,633$116,062,304
99$219,328,057$31,357,256$16,998,106$127,053,682
100$241,610,498$32,804,740$17,478,521$139,133,902