Can I retire at age 62 with 6,800,000?

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 $6,800,000?

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$561,538$556,536$551,656$546,893$542,242$536,356
2 years$277,989$272,812$267,794$262,929$258,210$252,284
3 years$183,485$178,285$173,280$168,461$163,819$158,036
4 years$136,242$131,059$126,104$121,367$116,837$111,242
5 years$107,904$102,752$97,862$93,221$88,818$83,427
6 years$89,018$83,904$79,087$74,550$70,279$65,099
7 years$75,534$70,463$65,722$61,292$57,155$52,189
8 years$65,425$60,400$55,737$51,416$47,416$42,662
9 years$57,566$52,589$48,006$43,795$39,931$35,389
10 years$51,283$46,354$41,853$37,752$34,023$29,689
11 years$46,146$41,267$36,847$32,855$29,261$25,131
12 years$41,868$37,039$32,701$28,819$25,357$21,427
13 years$38,251$33,472$29,216$25,442$22,112$18,378
14 years$35,153$30,425$26,250$22,585$19,383$15,839
15 years$32,471$27,794$23,701$20,142$17,066$13,707
16 years$30,127$25,500$21,488$18,035$15,083$11,903
17 years$28,060$23,485$19,553$16,204$13,374$10,367
18 years$26,225$21,701$17,850$14,603$11,891$9,052
19 years$24,585$20,112$16,341$13,195$10,599$7,920
20 years$23,111$18,689$14,997$11,951$9,467$6,943
21 years$21,779$17,408$13,794$10,846$8,472$6,096
22 years$20,570$16,250$12,713$9,862$7,594$5,359
23 years$19,467$15,198$11,738$8,981$6,817$4,718
24 years$18,458$14,240$10,856$8,191$6,127$4,157
25 years$17,531$13,364$10,055$7,481$5,514$3,667
26 years$16,677$12,560$9,325$6,840$4,966$3,237
27 years$15,888$11,820$8,659$6,261$4,478$2,859
28 years$15,156$11,138$8,050$5,736$4,040$2,528
29 years$14,476$10,507$7,491$5,260$3,648$2,235
30 years$13,842$9,923$6,978$4,828$3,296$1,978
31 years$13,250$9,381$6,505$4,434$2,980$1,751
32 years$12,697$8,876$6,070$4,075$2,696$1,550
33 years$12,178$8,406$5,667$3,747$2,440$1,373
34 years$11,690$7,967$5,295$3,448$2,209$1,217
35 years$11,232$7,556$4,950$3,174$2,001$1,079
36 years$10,800$7,172$4,631$2,923$1,813$956
37 years$10,392$6,812$4,335$2,693$1,643$848
38 years$10,007$6,474$4,059$2,482$1,489$752
39 years$9,642$6,156$3,803$2,289$1,351$667
40 years$9,297$5,857$3,565$2,111$1,225$592
41 years$8,969$5,575$3,342$1,948$1,111$525
42 years$8,657$5,309$3,135$1,798$1,009$466
43 years$8,361$5,059$2,942$1,659$915$413
44 years$8,079$4,822$2,762$1,532$831$367
45 years$7,811$4,598$2,593$1,415$754$326
46 years$7,555$4,387$2,435$1,307$685$289
47 years$7,310$4,186$2,288$1,208$622$257
48 years$7,076$3,996$2,150$1,116$565$228
49 years$6,853$3,816$2,021$1,031$513$202
50 years$6,639$3,645$1,900$953$466$179

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,800,000, adding $4,005 every year, while hoping to spend $32,297 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: 65/14/21 Blend
61$6,800,000$6,800,000$6,800,000$6,800,000
62$7,497,731$7,137,331$7,031,931$7,944,657
63$8,228,136$7,452,697$7,233,137$8,560,917
64$9,031,960$7,782,433$7,440,001$9,230,104
65$9,916,657$8,127,209$7,652,678$9,960,694
66$10,890,441$8,487,728$7,871,328$10,758,709
67$11,962,364$8,864,724$8,096,115$11,630,775
68$13,142,397$9,258,967$8,327,207$12,584,184
69$14,441,529$9,671,265$8,564,777$13,626,965
70$15,871,870$10,102,461$8,809,001$14,767,953
71$17,446,760$10,553,441$9,060,062$16,016,875
72$19,180,901$11,025,131$9,318,146$17,384,437
73$21,090,494$11,518,504$9,583,445$18,882,429
74$23,193,389$12,034,576$9,856,155$20,523,829
75$25,509,257$12,574,412$10,136,479$22,322,928
76$28,059,774$13,139,130$10,424,623$24,295,461
77$30,868,822$13,729,899$10,720,799$26,458,753
78$33,962,723$14,347,945$11,025,227$28,831,886
79$37,370,478$14,994,552$11,338,129$31,435,871
80$41,124,046$15,671,064$11,659,736$34,293,847
81$45,258,644$16,378,892$11,990,283$37,431,298
82$49,813,079$17,119,511$12,330,011$40,876,292
83$54,830,116$17,894,469$12,679,168$44,659,741
84$60,356,877$18,705,388$13,038,010$48,815,694
85$66,445,292$19,553,965$13,406,797$53,381,654
86$73,152,583$20,441,981$13,785,796$58,398,929
87$80,541,810$21,371,301$14,175,283$63,913,021
88$88,682,458$22,343,879$14,575,539$69,974,053
89$97,651,103$23,361,763$14,986,853$76,637,237
90$107,532,124$24,427,098$15,409,522$83,963,397
91$118,418,510$25,542,135$15,843,849$92,019,533
92$130,412,726$26,709,228$16,290,147$100,879,459
93$143,627,692$27,930,848$16,748,735$110,624,490
94$158,187,840$29,209,583$17,219,941$121,344,207
95$174,230,292$30,548,145$17,704,101$133,137,303
96$191,906,154$31,949,376$18,201,561$146,112,508
97$211,381,942$33,416,255$18,712,673$160,389,611
98$232,841,152$34,951,904$19,237,800$176,100,589
99$256,485,997$36,559,595$19,777,313$193,390,848
100$282,539,310$38,242,756$20,331,595$212,420,589