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%15.3%
1 years$528,506$523,798$519,205$514,722$510,345$499,225
2 years$261,637$256,764$252,041$247,463$243,021$231,874
3 years$172,692$167,798$163,088$158,552$154,183$143,356
4 years$128,228$123,349$118,686$114,228$109,964$99,542
5 years$101,557$96,707$92,105$87,738$83,593$73,604
6 years$83,782$78,969$74,435$70,165$66,144$56,600
7 years$71,090$66,318$61,856$57,686$53,793$44,694
8 years$61,576$56,847$52,458$48,392$44,627$35,970
9 years$54,180$49,495$45,182$41,219$37,582$29,362
10 years$48,267$43,628$39,391$35,531$32,022$24,230
11 years$43,432$38,839$34,679$30,923$27,540$20,166
12 years$39,405$34,860$30,777$27,123$23,865$16,898
13 years$36,001$31,503$27,497$23,946$20,811$14,238
14 years$33,086$28,636$24,706$21,256$18,243$12,050
15 years$30,561$26,159$22,306$18,957$16,062$10,237
16 years$28,354$24,000$20,224$16,974$14,196$8,723
17 years$26,409$22,104$18,403$15,251$12,587$7,453
18 years$24,682$20,425$16,800$13,744$11,192$6,381
19 years$23,139$18,929$15,379$12,419$9,976$5,474
20 years$21,752$17,590$14,114$11,248$8,910$4,703
21 years$20,498$16,384$12,982$10,208$7,974$4,046
22 years$19,360$15,294$11,965$9,282$7,147$3,484
23 years$18,322$14,304$11,048$8,453$6,416$3,004
24 years$17,373$13,402$10,217$7,709$5,767$2,592
25 years$16,500$12,577$9,463$7,041$5,189$2,238
26 years$15,696$11,821$8,777$6,438$4,674$1,933
27 years$14,953$11,125$8,150$5,893$4,214$1,671
28 years$14,264$10,483$7,577$5,399$3,803$1,445
29 years$13,624$9,889$7,051$4,951$3,434$1,250
30 years$13,028$9,339$6,567$4,544$3,103$1,082
31 years$12,471$8,829$6,123$4,173$2,805$937
32 years$11,950$8,354$5,712$3,835$2,537$811
33 years$11,461$7,911$5,334$3,527$2,296$702
34 years$11,003$7,498$4,984$3,245$2,079$608
35 years$10,571$7,112$4,659$2,987$1,883$527
36 years$10,165$6,750$4,359$2,751$1,706$457
37 years$9,781$6,411$4,080$2,535$1,546$396
38 years$9,418$6,093$3,820$2,336$1,402$343
39 years$9,075$5,794$3,579$2,154$1,271$297
40 years$8,750$5,512$3,355$1,987$1,153$258
41 years$8,441$5,247$3,146$1,833$1,046$223
42 years$8,148$4,997$2,951$1,692$949$194
43 years$7,869$4,761$2,769$1,562$861$168
44 years$7,604$4,538$2,599$1,442$782$146
45 years$7,351$4,328$2,441$1,332$710$126
46 years$7,110$4,129$2,292$1,230$645$110
47 years$6,880$3,940$2,153$1,137$585$95
48 years$6,660$3,761$2,024$1,050$532$82
49 years$6,450$3,592$1,902$971$483$71
50 years$6,249$3,431$1,788$897$438$62

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 $3,028 every year, while hoping to spend $52,120 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: 51/40/9 Blend
61$6,400,000$6,400,000$6,400,000$6,400,000
62$7,055,923$6,716,723$6,617,523$7,399,203
63$7,720,172$6,990,388$6,783,755$7,907,188
64$8,450,428$7,275,714$6,953,809$8,453,277
65$9,253,367$7,573,220$7,127,757$9,045,693
66$10,136,348$7,883,446$7,305,675$9,688,804
67$11,107,476$8,206,955$7,487,635$10,387,410
68$12,175,681$8,544,338$7,673,713$11,146,784
69$13,350,803$8,896,213$7,863,986$11,972,724
70$14,643,684$9,263,227$8,058,528$12,871,600
71$16,066,268$9,646,053$8,257,417$13,850,416
72$17,631,717$10,045,399$8,460,730$14,916,873
73$19,354,533$10,462,004$8,668,545$16,079,440
74$21,250,693$10,896,640$8,880,939$17,347,427
75$23,337,805$11,350,117$9,097,992$18,731,077
76$25,635,268$11,823,279$9,319,781$20,241,655
77$28,164,458$12,317,013$9,546,386$21,891,553
78$30,948,928$12,832,242$9,777,886$23,694,406
79$34,014,633$13,369,936$10,014,359$25,665,213
80$37,390,170$13,931,108$10,255,885$27,820,480
81$41,107,053$14,516,818$10,502,543$30,178,370
82$45,200,005$15,128,174$10,754,411$32,758,872
83$49,707,289$15,766,339$11,011,567$35,583,984
84$54,671,068$16,432,525$11,274,090$38,677,919
85$60,137,802$17,128,003$11,542,057$42,067,331
86$66,158,687$17,854,105$11,815,545$45,781,557
87$72,790,138$18,612,220$12,094,630$49,852,895
88$80,094,318$19,403,805$12,379,387$54,316,901
89$88,139,733$20,230,386$12,669,890$59,212,723
90$97,001,867$21,093,556$12,966,213$64,583,460
91$106,763,903$21,994,986$13,268,427$70,476,571
92$117,517,504$22,936,423$13,576,602$76,944,312
93$129,363,678$23,919,697$13,890,807$84,044,227
94$142,413,733$24,946,721$14,211,109$91,839,682
95$156,790,325$26,019,502$14,537,572$100,400,459
96$172,628,616$27,140,135$14,870,258$109,803,410
97$190,077,552$28,310,819$15,209,229$120,133,172
98$209,301,265$29,533,852$15,554,541$131,482,961
99$230,480,624$30,811,641$15,906,248$143,955,445
100$253,814,943$32,146,707$16,264,403$157,663,705