Can I retire at age 62 with 6,300,000?

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 $6,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$520,248$515,614$511,093$506,680$502,371$486,679
2 years$257,549$252,752$248,103$243,596$239,224$223,555
3 years$169,994$165,176$160,539$156,074$151,774$136,618
4 years$126,225$121,422$116,831$112,443$108,246$93,721
5 years$99,970$95,196$90,666$86,367$82,287$68,431
6 years$82,473$77,735$73,272$69,068$65,111$51,936
7 years$69,980$65,282$60,889$56,785$52,953$40,457
8 years$60,614$55,958$51,639$47,635$43,929$32,106
9 years$53,333$48,722$44,476$40,575$36,995$25,830
10 years$47,512$42,946$38,776$34,976$31,521$20,999
11 years$42,753$38,232$34,137$30,439$27,110$17,210
12 years$38,789$34,315$30,296$26,700$23,493$14,195
13 years$35,438$31,011$27,068$23,572$20,486$11,769
14 years$32,569$28,188$24,320$20,924$17,958$9,798
15 years$30,084$25,750$21,958$18,661$15,812$8,184
16 years$27,911$23,625$19,908$16,709$13,974$6,856
17 years$25,997$21,758$18,116$15,013$12,391$5,756
18 years$24,297$20,106$16,537$13,529$11,017$4,842
19 years$22,777$18,634$15,139$12,225$9,820$4,079
20 years$21,412$17,315$13,894$11,072$8,771$3,441
21 years$20,178$16,128$12,780$10,049$7,849$2,906
22 years$19,057$15,055$11,778$9,136$7,036$2,457
23 years$18,036$14,081$10,875$8,321$6,316$2,078
24 years$17,101$13,193$10,058$7,589$5,677$1,759
25 years$16,242$12,381$9,316$6,931$5,108$1,490
26 years$15,451$11,636$8,640$6,337$4,601$1,263
27 years$14,719$10,951$8,023$5,801$4,148$1,071
28 years$14,041$10,319$7,458$5,315$3,743$908
29 years$13,411$9,735$6,940$4,874$3,380$770
30 years$12,824$9,193$6,465$4,473$3,054$653
31 years$12,276$8,691$6,027$4,108$2,761$555
32 years$11,763$8,223$5,623$3,775$2,498$471
33 years$11,282$7,788$5,250$3,472$2,260$400
34 years$10,831$7,381$4,906$3,194$2,047$339
35 years$10,406$7,001$4,586$2,940$1,854$288
36 years$10,006$6,645$4,291$2,708$1,679$245
37 years$9,628$6,311$4,016$2,495$1,522$208
38 years$9,271$5,998$3,761$2,300$1,380$176
39 years$8,933$5,703$3,523$2,121$1,251$150
40 years$8,613$5,426$3,302$1,956$1,135$127
41 years$8,309$5,165$3,097$1,805$1,030$108
42 years$8,021$4,919$2,905$1,665$934$92
43 years$7,746$4,687$2,726$1,537$848$78
44 years$7,485$4,468$2,559$1,419$770$66
45 years$7,236$4,260$2,402$1,311$699$56
46 years$6,999$4,064$2,256$1,211$634$48
47 years$6,773$3,878$2,120$1,119$576$41
48 years$6,556$3,702$1,992$1,034$523$35
49 years$6,349$3,536$1,872$955$475$29
50 years$6,151$3,377$1,760$883$432$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,300,000, adding $4,717 every year, while hoping to spend $22,478 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: 37/42/21 Blend
61$6,300,000$6,300,000$6,300,000$6,300,000
62$6,947,466$6,613,566$6,515,916$7,160,428
63$7,632,191$6,913,714$6,710,282$7,615,923
64$8,386,004$7,227,816$6,910,407$8,105,153
65$9,215,930$7,556,532$7,116,459$8,633,144
66$10,129,706$7,900,554$7,328,612$9,203,393
67$11,135,861$8,260,606$7,547,045$9,819,736
68$12,243,791$8,637,447$7,771,943$10,486,379
69$13,463,849$9,031,874$8,003,495$11,207,934
70$14,807,447$9,444,721$8,241,897$11,989,465
71$16,287,155$9,876,861$8,487,349$12,836,527
72$17,916,828$10,329,210$8,740,058$13,755,216
73$19,711,731$10,802,728$9,000,237$14,752,225
74$21,688,688$11,298,422$9,268,105$15,834,906
75$23,866,234$11,817,345$9,543,887$17,011,329
76$26,264,797$12,360,602$9,827,814$18,290,361
77$28,906,886$12,929,351$10,120,126$19,681,742
78$31,817,305$13,524,806$10,421,066$21,196,172
79$35,023,388$14,148,238$10,730,889$22,845,413
80$38,555,253$14,800,982$11,049,854$24,642,389
81$42,446,092$15,484,433$11,378,227$26,601,306
82$46,732,480$16,200,057$11,716,284$28,737,784
83$51,454,722$16,949,388$12,064,309$31,068,993
84$56,657,231$17,734,036$12,422,591$33,613,816
85$62,388,951$18,555,687$12,791,430$36,393,016
86$68,703,817$19,416,108$13,171,135$39,429,430
87$75,661,261$20,317,152$13,562,023$42,748,177
88$83,326,778$21,260,761$13,964,420$46,376,889
89$91,772,543$22,248,972$14,378,661$50,345,962
90$101,078,088$23,283,917$14,805,092$54,688,842
91$111,331,058$24,367,834$15,244,068$59,442,327
92$122,628,036$25,503,068$15,695,954$64,646,911
93$135,075,454$26,692,077$16,161,127$70,347,154
94$148,790,598$27,937,436$16,639,972$76,592,099
95$163,902,716$29,241,848$17,132,889$83,435,720
96$180,554,238$30,608,144$17,640,286$90,937,430
97$198,902,119$32,039,291$18,162,584$99,162,624
98$219,119,321$33,538,402$18,700,216$108,183,291
99$241,396,448$35,108,739$19,253,629$118,078,681
100$265,943,540$36,753,722$19,823,280$128,936,043