Can I retire at age 62 with 6,400,000?

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 $6,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$528,506$523,798$519,205$514,722$510,345$490,484
2 years$261,637$256,764$252,041$247,463$243,021$223,252
3 years$172,692$167,798$163,088$158,552$154,183$135,127
4 years$128,228$123,349$118,686$114,228$109,964$91,767
5 years$101,557$96,707$92,105$87,738$83,593$66,301
6 years$83,782$78,969$74,435$70,165$66,144$49,769
7 years$71,090$66,318$61,856$57,686$53,793$38,329
8 years$61,576$56,847$52,458$48,392$44,627$30,059
9 years$54,180$49,495$45,182$41,219$37,582$23,889
10 years$48,267$43,628$39,391$35,531$32,022$19,177
11 years$43,432$38,839$34,679$30,923$27,540$15,514
12 years$39,405$34,860$30,777$27,123$23,865$12,627
13 years$36,001$31,503$27,497$23,946$20,811$10,327
14 years$33,086$28,636$24,706$21,256$18,243$8,478
15 years$30,561$26,159$22,306$18,957$16,062$6,982
16 years$28,354$24,000$20,224$16,974$14,196$5,764
17 years$26,409$22,104$18,403$15,251$12,587$4,769
18 years$24,682$20,425$16,800$13,744$11,192$3,952
19 years$23,139$18,929$15,379$12,419$9,976$3,279
20 years$21,752$17,590$14,114$11,248$8,910$2,724
21 years$20,498$16,384$12,982$10,208$7,974$2,266
22 years$19,360$15,294$11,965$9,282$7,147$1,885
23 years$18,322$14,304$11,048$8,453$6,416$1,570
24 years$17,373$13,402$10,217$7,709$5,767$1,308
25 years$16,500$12,577$9,463$7,041$5,189$1,090
26 years$15,696$11,821$8,777$6,438$4,674$909
27 years$14,953$11,125$8,150$5,893$4,214$758
28 years$14,264$10,483$7,577$5,399$3,803$633
29 years$13,624$9,889$7,051$4,951$3,434$528
30 years$13,028$9,339$6,567$4,544$3,103$441
31 years$12,471$8,829$6,123$4,173$2,805$368
32 years$11,950$8,354$5,712$3,835$2,537$307
33 years$11,461$7,911$5,334$3,527$2,296$257
34 years$11,003$7,498$4,984$3,245$2,079$214
35 years$10,571$7,112$4,659$2,987$1,883$179
36 years$10,165$6,750$4,359$2,751$1,706$149
37 years$9,781$6,411$4,080$2,535$1,546$125
38 years$9,418$6,093$3,820$2,336$1,402$104
39 years$9,075$5,794$3,579$2,154$1,271$87
40 years$8,750$5,512$3,355$1,987$1,153$73
41 years$8,441$5,247$3,146$1,833$1,046$61
42 years$8,148$4,997$2,951$1,692$949$51
43 years$7,869$4,761$2,769$1,562$861$42
44 years$7,604$4,538$2,599$1,442$782$35
45 years$7,351$4,328$2,441$1,332$710$30
46 years$7,110$4,129$2,292$1,230$645$25
47 years$6,880$3,940$2,153$1,137$585$21
48 years$6,660$3,761$2,024$1,050$532$17
49 years$6,450$3,592$1,902$971$483$14
50 years$6,249$3,431$1,788$897$438$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,400,000, adding $3,515 every year, while hoping to spend $32,172 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: 53/30/17 Blend
61$6,400,000$6,400,000$6,400,000$6,400,000
62$7,056,426$6,717,226$6,618,026$7,397,771
63$7,741,950$7,012,139$6,805,499$7,926,724
64$8,496,320$7,320,425$6,998,174$8,498,272
65$9,326,524$7,642,704$7,196,192$9,119,455
66$10,240,261$7,979,628$7,399,695$9,795,002
67$11,246,015$8,331,878$7,608,833$10,530,109
68$12,353,136$8,700,168$7,823,757$11,330,487
69$13,571,924$9,085,244$8,044,621$12,202,414
70$14,913,730$9,487,890$8,271,585$13,152,795
71$16,391,060$9,908,927$8,504,813$14,189,221
72$18,017,696$10,349,212$8,744,472$15,320,042
73$19,808,823$10,809,646$8,990,734$16,554,439
74$21,781,176$11,291,170$9,243,776$17,902,515
75$23,953,191$11,794,773$9,503,777$19,375,380
76$26,345,187$12,321,488$9,770,925$20,985,259
77$28,979,553$12,872,398$10,045,408$22,745,604
78$31,880,961$13,448,638$10,327,422$24,671,215
79$35,076,594$14,051,397$10,617,166$26,778,379
80$38,596,411$14,681,920$10,914,846$29,085,022
81$42,473,423$15,341,512$11,220,671$31,610,871
82$46,744,006$16,031,540$11,534,857$34,377,640
83$51,448,244$16,753,435$11,857,624$37,409,232
84$56,630,309$17,508,697$12,189,199$40,731,955
85$62,338,877$18,298,900$12,529,814$44,374,777
86$68,627,586$19,125,689$12,879,706$48,369,583
87$75,555,542$19,990,791$13,239,118$52,751,484
88$83,187,881$20,896,012$13,608,302$57,559,133
89$91,596,376$21,843,249$13,987,511$62,835,094
90$100,860,123$22,834,484$14,377,010$68,626,232
91$111,066,281$23,871,799$14,777,065$74,984,157
92$122,310,897$24,957,373$15,187,952$81,965,700
93$134,699,814$26,093,490$15,609,954$89,633,448
94$148,349,666$27,282,542$16,043,359$98,056,326
95$163,388,983$28,527,038$16,488,462$107,310,245
96$179,959,402$29,829,605$16,945,568$117,478,809
97$198,217,002$31,192,997$17,414,986$128,654,100
98$218,333,783$32,620,100$17,897,034$140,937,540
99$240,499,282$34,113,938$18,392,038$154,440,840
100$264,922,369$35,677,682$18,900,332$169,287,048