Can I retire at age 62 with 6,700,000?

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 $6,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$553,280$548,351$543,543$538,850$534,267$527,373
2 years$273,901$268,800$263,856$259,063$254,413$247,477
3 years$180,787$175,664$170,732$165,984$161,410$154,647
4 years$134,239$129,131$124,249$119,582$115,119$108,582
5 years$106,317$101,241$96,423$91,850$87,512$81,220
6 years$87,709$82,671$77,924$73,454$69,245$63,206
7 years$74,423$69,427$64,755$60,390$56,315$50,530
8 years$64,463$59,511$54,917$50,660$46,718$41,188
9 years$56,720$51,815$47,300$43,151$39,344$34,065
10 years$50,529$45,673$41,238$37,197$33,523$28,492
11 years$45,467$40,660$36,305$32,372$28,831$24,044
12 years$41,252$36,494$32,220$28,395$24,984$20,435
13 years$37,689$32,980$28,786$25,068$21,787$17,469
14 years$34,636$29,978$25,864$22,253$19,098$15,007
15 years$31,994$27,385$23,352$19,846$16,815$12,943
16 years$29,684$25,125$21,172$17,770$14,862$11,201
17 years$27,647$23,140$19,266$15,966$13,177$9,721
18 years$25,839$21,382$17,587$14,388$11,717$8,457
19 years$24,224$19,817$16,100$13,001$10,443$7,373
20 years$22,771$18,415$14,776$11,775$9,328$6,439
21 years$21,459$17,152$13,591$10,687$8,348$5,633
22 years$20,267$16,011$12,526$9,717$7,482$4,934
23 years$19,181$14,975$11,566$8,849$6,717$4,326
24 years$18,187$14,031$10,696$8,071$6,037$3,798
25 years$17,274$13,167$9,907$7,371$5,432$3,337
26 years$16,432$12,375$9,188$6,739$4,893$2,934
27 years$15,654$11,646$8,532$6,169$4,412$2,581
28 years$14,933$10,974$7,932$5,652$3,981$2,272
29 years$14,263$10,353$7,381$5,183$3,595$2,002
30 years$13,638$9,777$6,875$4,757$3,248$1,764
31 years$13,055$9,243$6,410$4,369$2,936$1,555
32 years$12,510$8,745$5,980$4,015$2,656$1,371
33 years$11,999$8,282$5,584$3,692$2,404$1,210
34 years$11,519$7,850$5,217$3,397$2,176$1,067
35 years$11,067$7,445$4,878$3,127$1,971$942
36 years$10,641$7,067$4,563$2,880$1,786$832
37 years$10,239$6,712$4,271$2,654$1,619$734
38 years$9,860$6,378$3,999$2,446$1,468$648
39 years$9,500$6,065$3,747$2,255$1,331$573
40 years$9,160$5,771$3,512$2,080$1,207$506
41 years$8,837$5,493$3,293$1,919$1,095$447
42 years$8,530$5,231$3,089$1,771$994$395
43 years$8,238$4,984$2,899$1,635$902$349
44 years$7,961$4,751$2,721$1,510$819$308
45 years$7,696$4,531$2,555$1,394$743$272
46 years$7,444$4,322$2,400$1,288$675$241
47 years$7,203$4,125$2,254$1,190$613$213
48 years$6,972$3,938$2,119$1,099$556$188
49 years$6,752$3,760$1,991$1,016$505$166
50 years$6,542$3,592$1,872$939$459$147

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,700,000, adding $2,459 every year, while hoping to spend $37,965 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: 78/10/12 Blend
61$6,700,000$6,700,000$6,700,000$6,700,000
62$7,385,936$7,030,836$6,926,986$7,945,051
63$8,098,908$7,334,953$7,118,646$8,617,362
64$8,883,329$7,652,699$7,315,454$9,349,472
65$9,746,449$7,984,702$7,517,542$10,151,382
66$10,696,254$8,331,619$7,725,047$11,030,042
67$11,741,542$8,694,138$7,938,106$11,993,105
68$12,892,009$9,072,981$8,156,862$13,048,999
69$14,158,338$9,468,901$8,381,461$14,207,003
70$15,552,300$9,882,688$8,612,051$15,477,336
71$17,086,865$10,315,170$8,848,785$16,871,254
72$18,776,324$10,767,213$9,091,819$18,401,150
73$20,636,427$11,239,724$9,341,312$20,080,677
74$22,684,525$11,733,653$9,597,429$21,924,871
75$24,939,739$12,249,994$9,860,335$23,950,291
76$27,423,139$12,789,791$10,130,203$26,175,179
77$30,157,941$13,354,132$10,407,207$28,619,627
78$33,169,729$13,944,163$10,691,526$31,305,769
79$36,486,693$14,561,078$10,983,344$34,257,984
80$40,139,897$15,206,133$11,282,848$37,503,128
81$44,163,573$15,880,640$11,590,229$41,070,786
82$48,595,439$16,585,973$11,905,684$44,993,550
83$53,477,063$17,323,574$12,229,413$49,307,325
84$58,854,245$18,094,952$12,561,621$54,051,663
85$64,777,460$18,901,687$12,902,517$59,270,142
86$71,302,326$19,745,434$13,252,316$65,010,769
87$78,490,131$20,627,928$13,611,236$71,326,436
88$86,408,414$21,550,985$13,979,502$78,275,413
89$95,131,598$22,516,510$14,357,341$85,921,901
90$104,741,698$23,526,496$14,744,989$94,336,634
91$115,329,088$24,583,031$15,142,683$103,597,543
92$126,993,359$25,688,304$15,550,667$113,790,494
93$139,844,258$26,844,607$15,969,191$125,010,091
94$154,002,723$28,054,343$16,398,509$137,360,572
95$169,602,023$29,320,029$16,838,882$150,956,786
96$186,789,019$30,644,300$17,290,574$165,925,279
97$205,725,548$32,029,919$17,753,857$182,405,483
98$226,589,950$33,479,781$18,229,007$200,551,030
99$249,578,753$34,996,919$18,716,308$220,531,202
100$274,908,529$36,584,511$19,216,046$242,532,524