Can I retire at age 62 with 6,200,000?

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 $6,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$511,990$507,430$502,980$498,637$494,397$487,814
2 years$253,460$248,740$244,165$239,729$235,427$228,806
3 years$167,295$162,554$157,991$153,597$149,365$142,911
4 years$124,221$119,495$114,977$110,658$106,528$100,291
5 years$98,383$93,685$89,227$84,996$80,981$74,979
6 years$81,164$76,501$72,109$67,972$64,077$58,317
7 years$68,869$64,245$59,923$55,883$52,112$46,596
8 years$59,652$55,070$50,819$46,879$43,232$37,960
9 years$52,487$47,949$43,770$39,931$36,408$31,376
10 years$46,758$42,264$38,160$34,421$31,021$26,227
11 years$42,074$37,625$33,596$29,956$26,679$22,118
12 years$38,174$33,771$29,815$26,276$23,120$18,787
13 years$34,876$30,519$26,638$23,198$20,161$16,050
14 years$32,052$27,741$23,934$20,592$17,673$13,778
15 years$29,606$25,342$21,609$18,365$15,561$11,875
16 years$27,468$23,250$19,592$16,443$13,752$10,270
17 years$25,584$21,413$17,828$14,774$12,194$8,906
18 years$23,911$19,786$16,275$13,315$10,842$7,743
19 years$22,416$18,338$14,899$12,031$9,664$6,745
20 years$21,072$17,040$13,673$10,896$8,632$5,887
21 years$19,857$15,872$12,577$9,889$7,725$5,146
22 years$18,755$14,816$11,591$8,991$6,924$4,504
23 years$17,750$13,857$10,703$8,189$6,215$3,946
24 years$16,830$12,984$9,898$7,469$5,587$3,461
25 years$15,985$12,184$9,168$6,821$5,027$3,039
26 years$15,206$11,451$8,503$6,237$4,528$2,670
27 years$14,486$10,777$7,895$5,708$4,083$2,347
28 years$13,818$10,155$7,340$5,230$3,684$2,065
29 years$13,198$9,580$6,830$4,796$3,326$1,817
30 years$12,621$9,048$6,362$4,402$3,006$1,600
31 years$12,081$8,553$5,931$4,043$2,717$1,409
32 years$11,576$8,093$5,534$3,715$2,458$1,242
33 years$11,103$7,664$5,167$3,416$2,224$1,095
34 years$10,659$7,264$4,828$3,143$2,014$965
35 years$10,241$6,890$4,514$2,894$1,824$851
36 years$9,847$6,539$4,222$2,665$1,653$751
37 years$9,475$6,211$3,952$2,455$1,498$662
38 years$9,124$5,902$3,701$2,263$1,358$584
39 years$8,791$5,613$3,467$2,087$1,232$516
40 years$8,476$5,340$3,250$1,925$1,117$455
41 years$8,177$5,083$3,047$1,776$1,013$402
42 years$7,894$4,841$2,859$1,639$920$355
43 years$7,624$4,612$2,682$1,513$835$313
44 years$7,366$4,397$2,518$1,397$758$276
45 years$7,122$4,193$2,364$1,290$688$244
46 years$6,888$4,000$2,221$1,192$624$215
47 years$6,665$3,817$2,086$1,101$567$190
48 years$6,452$3,644$1,960$1,017$515$168
49 years$6,248$3,480$1,843$940$468$148
50 years$6,053$3,324$1,732$869$425$131

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,200,000, adding $3,826 every year, while hoping to spend $51,177 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: 40/42/18 Blend
61$6,200,000$6,200,000$6,200,000$6,200,000
62$6,836,347$6,507,747$6,411,647$7,073,137
63$7,479,202$6,772,174$6,571,985$7,506,774
64$8,185,913$7,047,844$6,735,979$7,970,370
65$8,962,940$7,335,251$6,903,698$8,470,829
66$9,817,399$7,634,917$7,075,210$9,011,531
67$10,757,129$7,947,384$7,250,586$9,596,183
68$11,790,771$8,273,220$7,429,895$10,228,857
69$12,927,841$8,613,020$7,613,208$10,914,023
70$14,178,826$8,967,403$7,800,596$11,656,590
71$15,555,280$9,337,020$7,992,130$12,461,952
72$17,069,935$9,722,550$8,187,882$13,336,032
73$18,736,817$10,124,703$8,387,924$14,285,341
74$20,571,381$10,544,223$8,592,329$15,317,033
75$22,590,659$10,981,887$8,801,169$16,438,969
76$24,813,415$11,438,508$9,014,517$17,659,795
77$27,260,324$11,914,936$9,232,444$18,989,011
78$29,954,171$12,412,061$9,455,025$20,437,068
79$32,920,058$12,930,814$9,682,330$22,015,453
80$36,185,649$13,472,169$9,914,433$23,736,804
81$39,781,425$14,037,144$10,151,406$25,615,018
82$43,740,971$14,626,806$10,393,319$27,665,384
83$48,101,300$15,242,269$10,640,245$29,904,722
84$52,903,192$15,884,700$10,892,253$32,351,534
85$58,191,588$16,555,320$11,149,413$35,026,182
86$64,016,006$17,255,407$11,411,795$37,951,070
87$70,431,015$17,986,299$11,679,467$41,150,853
88$77,496,744$18,749,393$11,952,494$44,652,665
89$85,279,453$19,546,154$12,230,944$48,486,371
90$93,852,157$20,378,115$12,514,880$52,684,844
91$103,295,313$21,246,879$12,804,365$57,284,268
92$113,697,585$22,154,126$13,099,461$62,324,476
93$125,156,671$23,101,611$13,400,226$67,849,319
94$137,780,235$24,091,174$13,706,717$73,907,078
95$151,686,917$25,124,739$14,018,990$80,550,906
96$167,007,453$26,204,321$14,337,096$87,839,330
97$183,885,910$27,332,030$14,661,086$95,836,793
98$202,481,046$28,510,073$14,991,006$104,614,258
99$222,967,808$29,740,761$15,326,899$114,249,868
100$245,538,981$31,026,515$15,668,807$124,829,676