Can I retire at age 62 with 6,000,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $6,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$495,474$491,061$486,755$482,552$478,448$467,072
2 years$245,284$240,716$236,289$231,996$227,833$216,437
3 years$161,899$157,311$152,895$148,642$144,546$133,489
4 years$120,214$115,640$111,268$107,088$103,092$92,456
5 years$95,210$90,663$86,349$82,254$78,369$68,186
6 years$78,545$74,033$69,782$65,779$62,010$52,290
7 years$66,647$62,173$57,990$54,081$50,431$41,175
8 years$57,728$53,294$49,180$45,367$41,837$33,042
9 years$50,794$46,402$42,359$38,643$35,233$26,891
10 years$45,250$40,901$36,929$33,310$30,020$22,122
11 years$40,717$36,412$32,512$28,990$25,819$18,353
12 years$36,942$32,681$28,853$25,428$22,374$15,329
13 years$33,751$29,534$25,779$22,449$19,510$12,872
14 years$31,018$26,846$23,162$19,928$17,103$10,858
15 years$28,651$24,524$20,912$17,772$15,059$9,192
16 years$26,582$22,500$18,960$15,913$13,309$7,805
17 years$24,759$20,722$17,253$14,298$11,801$6,644
18 years$23,140$19,148$15,750$12,885$10,492$5,668
19 years$21,693$17,746$14,418$11,643$9,352$4,844
20 years$20,392$16,491$13,232$10,545$8,354$4,146
21 years$19,217$15,360$12,171$9,570$7,475$3,553
22 years$18,150$14,338$11,218$8,701$6,701$3,048
23 years$17,177$13,410$10,357$7,925$6,015$2,617
24 years$16,287$12,565$9,579$7,228$5,406$2,249
25 years$15,469$11,791$8,872$6,601$4,865$1,934
26 years$14,715$11,082$8,228$6,035$4,382$1,665
27 years$14,018$10,429$7,641$5,524$3,951$1,433
28 years$13,373$9,828$7,103$5,061$3,565$1,234
29 years$12,773$9,271$6,610$4,641$3,219$1,063
30 years$12,213$8,756$6,157$4,260$2,909$917
31 years$11,691$8,277$5,740$3,912$2,630$790
32 years$11,203$7,832$5,355$3,595$2,379$681
33 years$10,745$7,417$5,000$3,306$2,153$588
34 years$10,315$7,029$4,672$3,042$1,949$507
35 years$9,911$6,667$4,368$2,800$1,765$437
36 years$9,529$6,328$4,086$2,579$1,599$377
37 years$9,170$6,010$3,825$2,376$1,450$326
38 years$8,830$5,712$3,582$2,190$1,314$281
39 years$8,508$5,432$3,356$2,020$1,192$243
40 years$8,203$5,168$3,145$1,863$1,081$209
41 years$7,914$4,919$2,949$1,719$981$181
42 years$7,639$4,685$2,766$1,586$890$156
43 years$7,378$4,464$2,596$1,464$808$135
44 years$7,129$4,255$2,437$1,352$733$116
45 years$6,892$4,057$2,288$1,248$666$100
46 years$6,666$3,871$2,149$1,153$604$87
47 years$6,450$3,694$2,019$1,065$549$75
48 years$6,244$3,526$1,897$985$498$65
49 years$6,047$3,367$1,783$910$453$56
50 years$5,858$3,217$1,677$841$411$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,000,000, adding $5,194 every year, while hoping to spend $32,576 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: 57/13/30 Blend
61$6,000,000$6,000,000$6,000,000$6,000,000
62$6,617,358$6,299,358$6,206,358$6,939,552
63$7,257,667$6,573,366$6,379,610$7,435,823
64$7,962,197$6,859,708$6,557,574$7,972,675
65$8,737,463$7,158,955$6,740,375$8,557,219
66$9,590,644$7,471,704$6,928,137$9,194,088
67$10,529,651$7,798,578$7,120,991$9,888,376
68$11,563,200$8,140,234$7,319,069$10,645,688
69$12,700,897$8,497,356$7,522,509$11,472,193
70$13,953,324$8,870,662$7,731,448$12,374,680
71$15,332,142$9,260,903$7,946,031$13,360,620
72$16,850,200$9,668,867$8,166,402$14,438,237
73$18,521,657$10,095,378$8,392,713$15,616,585
74$20,362,113$10,541,299$8,625,116$16,905,627
75$22,388,760$11,007,534$8,863,769$18,316,334
76$24,620,541$11,495,031$9,108,833$19,860,786
77$27,078,330$12,004,781$9,360,473$21,552,278
78$29,785,128$12,537,823$9,618,857$23,405,455
79$32,766,281$13,095,246$9,884,158$25,436,438
80$36,049,718$13,678,190$10,156,554$27,662,982
81$39,666,216$14,287,848$10,436,225$30,104,638
82$43,649,688$14,925,471$10,723,357$32,782,937
83$48,037,507$15,592,369$11,018,139$35,721,590
84$52,870,852$16,289,915$11,320,767$38,946,714
85$58,195,105$17,019,547$11,631,439$42,487,070
86$64,060,272$17,782,771$11,950,358$46,374,338
87$70,521,458$18,581,164$12,277,733$50,643,413
88$77,639,386$19,416,381$12,613,776$55,332,729
89$85,480,972$20,290,152$12,958,707$60,484,621
90$94,119,955$21,204,293$13,312,747$66,145,725
91$103,637,591$22,160,705$13,676,125$72,367,413
92$114,123,424$23,161,378$14,049,074$79,206,273
93$125,676,129$24,208,401$14,431,833$86,724,646
94$138,404,441$25,303,960$14,824,647$94,991,207
95$152,428,185$26,450,345$15,227,764$104,081,614
96$167,879,406$27,649,958$15,641,440$114,079,215
97$184,903,613$28,905,314$16,065,936$125,075,835
98$203,661,155$30,219,047$16,501,518$137,172,637
99$224,328,734$31,593,922$16,948,460$150,481,077
100$247,101,071$33,032,830$17,407,039$165,123,948