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%19.8%
1 years$561,538$556,536$551,656$546,893$542,242$520,933
2 years$277,989$272,812$267,794$262,929$258,210$237,003
3 years$183,485$178,285$173,280$168,461$163,819$143,381
4 years$136,242$131,059$126,104$121,367$116,837$97,324
5 years$107,904$102,752$97,862$93,221$88,818$70,279
6 years$89,018$83,904$79,087$74,550$70,279$52,726
7 years$75,534$70,463$65,722$61,292$57,155$40,583
8 years$65,425$60,400$55,737$51,416$47,416$31,807
9 years$57,566$52,589$48,006$43,795$39,931$25,263
10 years$51,283$46,354$41,853$37,752$34,023$20,267
11 years$46,146$41,267$36,847$32,855$29,261$16,385
12 years$41,868$37,039$32,701$28,819$25,357$13,327
13 years$38,251$33,472$29,216$25,442$22,112$10,892
14 years$35,153$30,425$26,250$22,585$19,383$8,936
15 years$32,471$27,794$23,701$20,142$17,066$7,354
16 years$30,127$25,500$21,488$18,035$15,083$6,067
17 years$28,060$23,485$19,553$16,204$13,374$5,015
18 years$26,225$21,701$17,850$14,603$11,891$4,153
19 years$24,585$20,112$16,341$13,195$10,599$3,444
20 years$23,111$18,689$14,997$11,951$9,467$2,859
21 years$21,779$17,408$13,794$10,846$8,472$2,375
22 years$20,570$16,250$12,713$9,862$7,594$1,975
23 years$19,467$15,198$11,738$8,981$6,817$1,644
24 years$18,458$14,240$10,856$8,191$6,127$1,368
25 years$17,531$13,364$10,055$7,481$5,514$1,140
26 years$16,677$12,560$9,325$6,840$4,966$950
27 years$15,888$11,820$8,659$6,261$4,478$791
28 years$15,156$11,138$8,050$5,736$4,040$660
29 years$14,476$10,507$7,491$5,260$3,648$550
30 years$13,842$9,923$6,978$4,828$3,296$459
31 years$13,250$9,381$6,505$4,434$2,980$383
32 years$12,697$8,876$6,070$4,075$2,696$319
33 years$12,178$8,406$5,667$3,747$2,440$266
34 years$11,690$7,967$5,295$3,448$2,209$222
35 years$11,232$7,556$4,950$3,174$2,001$185
36 years$10,800$7,172$4,631$2,923$1,813$155
37 years$10,392$6,812$4,335$2,693$1,643$129
38 years$10,007$6,474$4,059$2,482$1,489$108
39 years$9,642$6,156$3,803$2,289$1,351$90
40 years$9,297$5,857$3,565$2,111$1,225$75
41 years$8,969$5,575$3,342$1,948$1,111$63
42 years$8,657$5,309$3,135$1,798$1,009$52
43 years$8,361$5,059$2,942$1,659$915$44
44 years$8,079$4,822$2,762$1,532$831$36
45 years$7,811$4,598$2,593$1,415$754$30
46 years$7,555$4,387$2,435$1,307$685$25
47 years$7,310$4,186$2,288$1,208$622$21
48 years$7,076$3,996$2,150$1,116$565$18
49 years$6,853$3,816$2,021$1,031$513$15
50 years$6,639$3,645$1,900$953$466$12

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 $2,452 every year, while hoping to spend $57,457 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: 57/26/17 Blend
61$6,800,000$6,800,000$6,800,000$6,800,000
62$7,496,129$7,135,729$7,030,329$7,889,817
63$8,199,601$7,424,246$7,204,711$8,445,899
64$8,972,900$7,724,975$7,383,010$9,045,134
65$9,823,090$8,038,453$7,565,295$9,696,849
66$10,757,951$8,365,242$7,751,637$10,406,097
67$11,786,053$8,705,930$7,942,109$11,178,435
68$12,916,842$9,061,133$8,136,781$12,019,977
69$14,160,723$9,431,491$8,335,726$12,937,446
70$15,529,160$9,817,677$8,539,016$13,938,239
71$17,034,785$10,220,394$8,746,724$15,030,496
72$18,691,516$10,640,376$8,958,922$16,223,171
73$20,514,688$11,078,392$9,175,683$17,526,121
74$22,521,197$11,535,244$9,397,079$18,950,191
75$24,729,661$12,011,773$9,623,183$20,507,318
76$27,160,595$12,508,858$9,854,068$22,210,639
77$29,836,602$13,027,419$10,089,806$24,074,616
78$32,782,589$13,568,416$10,330,468$26,115,171
79$36,026,000$14,132,855$10,576,126$28,349,828
80$39,597,076$14,721,790$10,826,851$30,797,883
81$43,529,140$15,336,319$11,082,712$33,480,580
82$47,858,908$15,977,595$11,343,779$36,421,308
83$52,626,841$16,646,821$11,610,120$39,645,823
84$57,877,523$17,345,260$11,881,803$43,182,486
85$63,660,081$18,074,228$12,158,894$47,062,527
86$70,028,650$18,835,105$12,441,457$51,320,338
87$77,042,883$19,629,336$12,729,556$55,993,795
88$84,768,513$20,458,430$13,023,253$61,124,612
89$93,277,977$21,323,969$13,322,608$66,758,728
90$102,651,093$22,227,605$13,627,677$72,946,745
91$112,975,818$23,171,071$13,938,518$79,744,392
92$124,349,076$24,156,178$14,255,182$87,213,056
93$136,877,672$25,184,821$14,577,721$95,420,351
94$150,679,302$26,258,985$14,906,183$104,440,758
95$165,883,662$27,380,747$15,240,611$114,356,317
96$182,633,671$28,552,279$15,581,047$125,257,402
97$201,086,822$29,775,858$15,927,529$137,243,569
98$221,416,667$31,053,864$16,280,091$150,424,488
99$243,814,455$32,388,790$16,638,761$164,920,975
100$268,490,935$33,783,247$17,003,565$180,866,128