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

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 $6,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$520,248$515,614$511,093$506,680$502,371$483,394
2 years$257,549$252,752$248,103$243,596$239,224$220,325
3 years$169,994$165,176$160,539$156,074$151,774$133,548
4 years$126,225$121,422$116,831$112,443$108,246$90,832
5 years$99,970$95,196$90,666$86,367$82,287$65,730
6 years$82,473$77,735$73,272$69,068$65,111$49,422
7 years$69,980$65,282$60,889$56,785$52,953$38,127
8 years$60,614$55,958$51,639$47,635$43,929$29,953
9 years$53,333$48,722$44,476$40,575$36,995$23,849
10 years$47,512$42,946$38,776$34,976$31,521$19,181
11 years$42,753$38,232$34,137$30,439$27,110$15,548
12 years$38,789$34,315$30,296$26,700$23,493$12,680
13 years$35,438$31,011$27,068$23,572$20,486$10,392
14 years$32,569$28,188$24,320$20,924$17,958$8,549
15 years$30,084$25,750$21,958$18,661$15,812$7,056
16 years$27,911$23,625$19,908$16,709$13,974$5,838
17 years$25,997$21,758$18,116$15,013$12,391$4,840
18 years$24,297$20,106$16,537$13,529$11,017$4,020
19 years$22,777$18,634$15,139$12,225$9,820$3,344
20 years$21,412$17,315$13,894$11,072$8,771$2,784
21 years$20,178$16,128$12,780$10,049$7,849$2,321
22 years$19,057$15,055$11,778$9,136$7,036$1,936
23 years$18,036$14,081$10,875$8,321$6,316$1,616
24 years$17,101$13,193$10,058$7,589$5,677$1,350
25 years$16,242$12,381$9,316$6,931$5,108$1,128
26 years$15,451$11,636$8,640$6,337$4,601$943
27 years$14,719$10,951$8,023$5,801$4,148$788
28 years$14,041$10,319$7,458$5,315$3,743$659
29 years$13,411$9,735$6,940$4,874$3,380$551
30 years$12,824$9,193$6,465$4,473$3,054$461
31 years$12,276$8,691$6,027$4,108$2,761$386
32 years$11,763$8,223$5,623$3,775$2,498$323
33 years$11,282$7,788$5,250$3,472$2,260$271
34 years$10,831$7,381$4,906$3,194$2,047$226
35 years$10,406$7,001$4,586$2,940$1,854$190
36 years$10,006$6,645$4,291$2,708$1,679$159
37 years$9,628$6,311$4,016$2,495$1,522$133
38 years$9,271$5,998$3,761$2,300$1,380$111
39 years$8,933$5,703$3,523$2,121$1,251$93
40 years$8,613$5,426$3,302$1,956$1,135$78
41 years$8,309$5,165$3,097$1,805$1,030$65
42 years$8,021$4,919$2,905$1,665$934$55
43 years$7,746$4,687$2,726$1,537$848$46
44 years$7,485$4,468$2,559$1,419$770$38
45 years$7,236$4,260$2,402$1,311$699$32
46 years$6,999$4,064$2,256$1,211$634$27
47 years$6,773$3,878$2,120$1,119$576$23
48 years$6,556$3,702$1,992$1,034$523$19
49 years$6,349$3,536$1,872$955$475$16
50 years$6,151$3,377$1,760$883$432$13

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 $2,755 every year, while hoping to spend $33,630 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: 44/42/14 Blend
61$6,300,000$6,300,000$6,300,000$6,300,000
62$6,945,442$6,611,542$6,513,892$7,222,915
63$7,618,095$6,899,725$6,696,325$7,705,144
64$8,358,231$7,200,903$6,883,743$8,223,911
65$9,172,699$7,515,675$7,076,276$8,785,452
66$10,069,043$7,844,672$7,274,061$9,393,722
67$11,055,577$8,188,553$7,477,233$10,053,064
68$12,141,462$8,548,008$7,685,937$10,768,243
69$13,336,791$8,923,760$7,900,315$11,544,493
70$14,652,686$9,316,566$8,120,518$12,387,563
71$16,101,401$9,727,219$8,346,697$13,303,766
72$17,696,441$10,156,550$8,579,008$14,300,038
73$19,452,685$10,605,428$8,817,612$15,384,001
74$21,386,529$11,074,764$9,062,672$16,564,028
75$23,516,040$11,565,512$9,314,356$17,849,327
76$25,861,125$12,078,671$9,572,836$19,250,014
77$28,443,722$12,615,289$9,838,288$20,777,213
78$31,288,004$13,176,460$10,110,894$22,443,155
79$34,420,608$13,763,335$10,390,836$24,261,287
80$37,870,887$14,377,114$10,678,305$26,246,401
81$41,671,184$15,019,059$10,973,495$28,414,763
82$45,857,141$15,690,490$11,276,604$30,784,264
83$50,468,035$16,392,789$11,587,836$33,374,587
84$55,547,144$17,127,405$11,907,397$36,207,387
85$61,142,160$17,895,855$12,235,502$39,306,487
86$67,305,637$18,699,730$12,572,369$42,698,103
87$74,095,489$19,540,693$12,918,221$46,411,081
88$81,575,534$20,420,492$13,273,285$50,477,167
89$89,816,095$21,340,953$13,637,797$54,931,300
90$98,894,670$22,303,992$14,011,996$59,811,935
91$108,896,654$23,311,616$14,396,127$65,161,399
92$119,916,156$24,365,928$14,790,439$71,026,285
93$132,056,875$25,469,130$15,195,191$77,457,884
94$145,433,090$26,623,532$15,610,644$84,512,661
95$160,170,731$27,831,551$16,037,066$92,252,784
96$176,408,571$29,095,722$16,474,733$100,746,695
97$194,299,534$30,418,700$16,923,925$110,069,757
98$214,012,139$31,803,270$17,384,929$120,304,948
99$235,732,093$33,252,346$17,858,040$131,543,642
100$259,664,040$34,768,984$18,343,558$143,886,456