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%12.6%
1 years$520,248$515,614$511,093$506,680$502,371$496,918
2 years$257,549$252,752$248,103$243,596$239,224$233,734
3 years$169,994$165,176$160,539$156,074$151,774$146,416
4 years$126,225$121,422$116,831$112,443$108,246$103,063
5 years$99,970$95,196$90,666$86,367$82,287$77,293
6 years$82,473$77,735$73,272$69,068$65,111$60,312
7 years$69,980$65,282$60,889$56,785$52,953$48,352
8 years$60,614$55,958$51,639$47,635$43,929$39,525
9 years$53,333$48,722$44,476$40,575$36,995$32,786
10 years$47,512$42,946$38,776$34,976$31,521$27,506
11 years$42,753$38,232$34,137$30,439$27,110$23,283
12 years$38,789$34,315$30,296$26,700$23,493$19,852
13 years$35,438$31,011$27,068$23,572$20,486$17,026
14 years$32,569$28,188$24,320$20,924$17,958$14,675
15 years$30,084$25,750$21,958$18,661$15,812$12,699
16 years$27,911$23,625$19,908$16,709$13,974$11,028
17 years$25,997$21,758$18,116$15,013$12,391$9,605
18 years$24,297$20,106$16,537$13,529$11,017$8,386
19 years$22,777$18,634$15,139$12,225$9,820$7,338
20 years$21,412$17,315$13,894$11,072$8,771$6,432
21 years$20,178$16,128$12,780$10,049$7,849$5,647
22 years$19,057$15,055$11,778$9,136$7,036$4,965
23 years$18,036$14,081$10,875$8,321$6,316$4,371
24 years$17,101$13,193$10,058$7,589$5,677$3,852
25 years$16,242$12,381$9,316$6,931$5,108$3,397
26 years$15,451$11,636$8,640$6,337$4,601$2,999
27 years$14,719$10,951$8,023$5,801$4,148$2,649
28 years$14,041$10,319$7,458$5,315$3,743$2,342
29 years$13,411$9,735$6,940$4,874$3,380$2,071
30 years$12,824$9,193$6,465$4,473$3,054$1,832
31 years$12,276$8,691$6,027$4,108$2,761$1,622
32 years$11,763$8,223$5,623$3,775$2,498$1,436
33 years$11,282$7,788$5,250$3,472$2,260$1,272
34 years$10,831$7,381$4,906$3,194$2,047$1,127
35 years$10,406$7,001$4,586$2,940$1,854$999
36 years$10,006$6,645$4,291$2,708$1,679$886
37 years$9,628$6,311$4,016$2,495$1,522$786
38 years$9,271$5,998$3,761$2,300$1,380$697
39 years$8,933$5,703$3,523$2,121$1,251$618
40 years$8,613$5,426$3,302$1,956$1,135$548
41 years$8,309$5,165$3,097$1,805$1,030$486
42 years$8,021$4,919$2,905$1,665$934$432
43 years$7,746$4,687$2,726$1,537$848$383
44 years$7,485$4,468$2,559$1,419$770$340
45 years$7,236$4,260$2,402$1,311$699$302
46 years$6,999$4,064$2,256$1,211$634$268
47 years$6,773$3,878$2,120$1,119$576$238
48 years$6,556$3,702$1,992$1,034$523$211
49 years$6,349$3,536$1,872$955$475$187
50 years$6,151$3,377$1,760$883$432$166

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 $6,662 every year, while hoping to spend $52,228 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: 60/32/8 Blend
61$6,300,000$6,300,000$6,300,000$6,300,000
62$6,949,472$6,615,572$6,517,922$7,354,061
63$7,602,748$6,884,165$6,680,702$7,894,595
64$8,320,907$7,164,168$6,847,185$8,477,338
65$9,110,514$7,456,086$7,017,439$9,111,637
66$9,978,797$7,760,446$7,191,535$9,802,456
67$10,933,725$8,077,798$7,369,541$10,555,253
68$11,984,073$8,408,718$7,551,530$11,376,031
69$13,139,513$8,753,810$7,737,570$12,271,393
70$14,410,699$9,113,702$7,927,735$13,248,600
71$15,809,372$9,489,055$8,122,095$14,315,643
72$17,348,465$9,880,556$8,320,723$15,481,312
73$19,042,232$10,288,927$8,523,690$16,755,278
74$20,906,377$10,714,921$8,731,071$18,148,184
75$22,958,201$11,159,326$8,942,936$19,671,742
76$25,216,773$11,622,968$9,159,359$21,338,841
77$27,703,099$12,106,709$9,380,413$23,163,666
78$30,440,328$12,611,450$9,606,169$25,161,834
79$33,453,966$13,138,137$9,836,701$27,350,533
80$36,772,121$13,687,756$10,072,081$29,748,683
81$40,425,762$14,261,340$10,312,381$32,377,115
82$44,449,016$14,859,972$10,557,671$35,258,762
83$48,879,485$15,484,780$10,808,023$38,418,875
84$53,758,608$16,136,949$11,063,507$41,885,253
85$59,132,043$16,817,718$11,324,192$45,688,510
86$65,050,106$17,528,380$11,590,147$49,862,353
87$71,568,239$18,270,293$11,861,439$54,443,902
88$78,747,537$19,044,875$12,138,134$59,474,036
89$86,655,322$19,853,610$12,420,298$64,997,772
90$95,365,781$20,698,053$12,707,994$71,064,688
91$104,960,663$21,579,830$13,001,284$77,729,390
92$115,530,051$22,500,642$13,300,227$85,052,016
93$127,173,213$23,462,270$13,604,882$93,098,806
94$139,999,540$24,466,581$13,915,305$101,942,719
95$154,129,574$25,515,524$14,231,548$111,664,117
96$169,696,149$26,611,143$14,553,664$122,351,522
97$186,845,643$27,755,576$14,881,698$134,102,441
98$205,739,361$28,951,062$15,215,698$147,024,283
99$226,555,056$30,199,943$15,555,703$161,235,368
100$249,488,605$31,504,674$15,901,753$176,866,040