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%13.6%
1 years$511,990$507,430$502,980$498,637$494,397$487,009
2 years$253,460$248,740$244,165$239,729$235,427$228,000
3 years$167,295$162,554$157,991$153,597$149,365$142,130
4 years$124,221$119,495$114,977$110,658$106,528$99,542
5 years$98,383$93,685$89,227$84,996$80,981$74,263
6 years$81,164$76,501$72,109$67,972$64,077$57,636
7 years$68,869$64,245$59,923$55,883$52,112$45,949
8 years$59,652$55,070$50,819$46,879$43,232$37,346
9 years$52,487$47,949$43,770$39,931$36,408$30,796
10 years$46,758$42,264$38,160$34,421$31,021$25,680
11 years$42,074$37,625$33,596$29,956$26,679$21,603
12 years$38,174$33,771$29,815$26,276$23,120$18,302
13 years$34,876$30,519$26,638$23,198$20,161$15,595
14 years$32,052$27,741$23,934$20,592$17,673$13,352
15 years$29,606$25,342$21,609$18,365$15,561$11,476
16 years$27,468$23,250$19,592$16,443$13,752$9,897
17 years$25,584$21,413$17,828$14,774$12,194$8,559
18 years$23,911$19,786$16,275$13,315$10,842$7,420
19 years$22,416$18,338$14,899$12,031$9,664$6,445
20 years$21,072$17,040$13,673$10,896$8,632$5,608
21 years$19,857$15,872$12,577$9,889$7,725$4,887
22 years$18,755$14,816$11,591$8,991$6,924$4,264
23 years$17,750$13,857$10,703$8,189$6,215$3,725
24 years$16,830$12,984$9,898$7,469$5,587$3,257
25 years$15,985$12,184$9,168$6,821$5,027$2,850
26 years$15,206$11,451$8,503$6,237$4,528$2,496
27 years$14,486$10,777$7,895$5,708$4,083$2,188
28 years$13,818$10,155$7,340$5,230$3,684$1,918
29 years$13,198$9,580$6,830$4,796$3,326$1,683
30 years$12,621$9,048$6,362$4,402$3,006$1,477
31 years$12,081$8,553$5,931$4,043$2,717$1,296
32 years$11,576$8,093$5,534$3,715$2,458$1,139
33 years$11,103$7,664$5,167$3,416$2,224$1,000
34 years$10,659$7,264$4,828$3,143$2,014$879
35 years$10,241$6,890$4,514$2,894$1,824$772
36 years$9,847$6,539$4,222$2,665$1,653$679
37 years$9,475$6,211$3,952$2,455$1,498$597
38 years$9,124$5,902$3,701$2,263$1,358$525
39 years$8,791$5,613$3,467$2,087$1,232$462
40 years$8,476$5,340$3,250$1,925$1,117$406
41 years$8,177$5,083$3,047$1,776$1,013$357
42 years$7,894$4,841$2,859$1,639$920$314
43 years$7,624$4,612$2,682$1,513$835$276
44 years$7,366$4,397$2,518$1,397$758$243
45 years$7,122$4,193$2,364$1,290$688$214
46 years$6,888$4,000$2,221$1,192$624$188
47 years$6,665$3,817$2,086$1,101$567$166
48 years$6,452$3,644$1,960$1,017$515$146
49 years$6,248$3,480$1,843$940$468$128
50 years$6,053$3,324$1,732$869$425$113

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 $5,988 every year, while hoping to spend $24,390 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: 52/19/29 Blend
61$6,200,000$6,200,000$6,200,000$6,200,000
62$6,838,577$6,509,977$6,413,877$7,138,171
63$7,510,161$6,803,015$6,602,791$7,640,357
64$8,249,429$7,109,594$6,797,216$8,183,423
65$9,063,259$7,430,353$6,997,311$8,773,743
66$9,959,230$7,765,959$7,203,240$9,415,842
67$10,945,694$8,117,113$7,415,170$10,114,697
68$12,031,851$8,484,547$7,633,275$10,875,778
69$13,227,841$8,869,032$7,857,731$11,705,101
70$14,544,838$9,271,372$8,088,722$12,609,286
71$15,995,153$9,692,410$8,326,436$13,595,611
72$17,592,352$10,133,032$8,571,065$14,672,085
73$19,351,385$10,594,164$8,822,809$15,847,519
74$21,288,725$11,076,776$9,081,871$17,131,607
75$23,422,523$11,581,887$9,348,463$18,535,016
76$25,772,783$12,110,562$9,622,799$20,069,488
77$28,361,546$12,663,918$9,905,102$21,747,941
78$31,213,101$13,243,128$10,195,600$23,584,595
79$34,354,213$13,849,417$10,494,528$25,595,105
80$37,814,376$14,484,071$10,802,128$27,796,698
81$41,626,090$15,148,439$11,118,647$30,208,344
82$45,825,171$15,843,931$11,444,341$32,850,922
83$50,451,084$16,572,030$11,779,472$35,747,423
84$55,547,320$17,334,285$12,124,310$38,923,158
85$61,161,805$18,132,323$12,479,133$42,405,997
86$67,347,350$18,967,848$12,844,224$46,226,630
87$74,162,152$19,842,645$13,219,878$50,418,850
88$81,670,343$20,758,586$13,606,396$55,019,869
89$89,942,595$21,717,633$14,004,087$60,070,670
90$99,056,785$22,721,843$14,413,270$65,616,385
91$109,098,735$23,773,371$14,834,271$71,706,720
92$120,163,015$24,874,475$15,267,429$78,396,420
93$132,353,842$26,027,524$15,713,087$85,745,781
94$145,786,061$27,235,000$16,171,603$93,821,216
95$160,586,229$28,499,504$16,643,341$102,695,873
96$176,893,808$29,823,763$17,128,676$112,450,327
97$194,862,485$31,210,637$17,627,996$123,173,333
98$214,661,621$32,663,120$18,141,696$134,962,658
99$236,477,848$34,184,355$18,670,185$147,925,996
100$260,516,834$35,777,634$19,213,882$162,181,987