Can I retire at age 62 with 6,900,000?

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 $6,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$569,796$564,720$559,768$554,935$550,216$532,390
2 years$282,077$276,824$271,732$266,796$262,007$244,216
3 years$186,183$180,907$175,829$170,939$166,228$149,029
4 years$138,246$132,986$127,958$123,152$118,555$102,080
5 years$109,491$104,263$99,301$94,592$90,124$74,416
6 years$90,327$85,138$80,250$75,646$71,312$56,385
7 years$76,644$71,499$66,688$62,193$57,996$43,849
8 years$66,387$61,288$56,557$52,172$48,113$34,735
9 years$58,413$53,362$48,712$44,439$40,518$27,894
10 years$52,037$47,036$42,468$38,307$34,524$22,634
11 years$46,825$41,873$37,389$33,338$29,691$18,515
12 years$42,484$37,583$33,181$29,242$25,730$15,241
13 years$38,814$33,964$29,645$25,817$22,437$12,610
14 years$35,670$30,873$26,637$22,917$19,668$10,476
15 years$32,949$28,203$24,049$20,438$17,317$8,733
16 years$30,570$25,875$21,804$18,300$15,305$7,299
17 years$28,473$23,830$19,841$16,442$13,571$6,115
18 years$26,611$22,020$18,112$14,818$12,066$5,132
19 years$24,947$20,408$16,581$13,389$10,755$4,314
20 years$23,451$18,964$15,217$12,127$9,607$3,631
21 years$22,099$17,665$13,997$11,006$8,597$3,059
22 years$20,872$16,489$12,900$10,007$7,706$2,580
23 years$19,754$15,422$11,911$9,113$6,917$2,178
24 years$18,730$14,449$11,016$8,312$6,217$1,839
25 years$17,789$13,560$10,203$7,591$5,595$1,554
26 years$16,922$12,744$9,463$6,941$5,039$1,314
27 years$16,121$11,994$8,787$6,353$4,543$1,111
28 years$15,379$11,302$8,168$5,821$4,100$940
29 years$14,688$10,662$7,601$5,338$3,702$795
30 years$14,045$10,069$7,080$4,899$3,345$673
31 years$13,445$9,519$6,601$4,499$3,024$570
32 years$12,883$9,006$6,159$4,135$2,736$482
33 years$12,357$8,529$5,750$3,802$2,476$409
34 years$11,862$8,084$5,373$3,498$2,241$346
35 years$11,397$7,667$5,023$3,220$2,030$293
36 years$10,959$7,277$4,699$2,966$1,839$248
37 years$10,545$6,912$4,398$2,733$1,667$210
38 years$10,154$6,569$4,119$2,519$1,511$178
39 years$9,784$6,246$3,859$2,322$1,371$151
40 years$9,433$5,943$3,617$2,142$1,243$128
41 years$9,101$5,657$3,392$1,976$1,128$108
42 years$8,785$5,388$3,181$1,824$1,023$92
43 years$8,484$5,133$2,985$1,684$929$78
44 years$8,198$4,893$2,802$1,555$843$66
45 years$7,926$4,666$2,631$1,436$765$56
46 years$7,666$4,451$2,471$1,326$695$47
47 years$7,418$4,248$2,322$1,225$631$40
48 years$7,180$4,055$2,182$1,132$573$34
49 years$6,954$3,872$2,051$1,046$520$29
50 years$6,737$3,699$1,928$967$473$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,900,000, adding $3,153 every year, while hoping to spend $54,177 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: 45/33/22 Blend
61$6,900,000$6,900,000$6,900,000$6,900,000
62$7,607,052$7,241,352$7,134,402$7,900,999
63$8,325,328$7,538,535$7,315,761$8,405,532
64$9,115,051$7,848,463$7,501,379$8,946,774
65$9,983,454$8,171,705$7,691,343$9,532,634
66$10,938,502$8,508,854$7,885,738$10,167,286
67$11,988,971$8,860,530$8,084,653$10,855,320
68$13,144,533$9,227,383$8,288,176$11,601,774
69$14,415,842$9,610,092$8,496,396$12,412,189
70$15,814,638$10,009,366$8,709,405$13,292,652
71$17,353,854$10,425,948$8,927,293$14,249,855
72$19,047,743$10,860,615$9,150,154$15,291,157
73$20,912,009$11,314,181$9,378,080$16,424,648
74$22,963,954$11,787,496$9,611,165$17,659,223
75$25,222,643$12,281,449$9,849,505$19,004,667
76$27,709,084$12,796,971$10,093,194$20,471,742
77$30,446,424$13,335,037$10,342,330$22,072,286
78$33,460,170$13,896,664$10,597,009$23,819,322
79$36,778,426$14,482,920$10,857,328$25,727,180
80$40,432,163$15,094,920$11,123,386$27,811,624
81$44,455,504$15,733,832$11,395,280$30,090,005
82$48,886,053$16,400,877$11,673,109$32,581,416
83$53,765,244$17,097,334$11,956,972$35,306,868
84$59,138,737$17,824,541$12,246,968$38,289,491
85$65,056,843$18,583,898$12,543,196$41,554,742
86$71,575,003$19,376,872$12,845,756$45,130,644
87$78,754,310$20,204,996$13,154,746$49,048,046
88$86,662,085$21,069,875$13,470,264$53,340,912
89$95,372,509$21,973,191$13,792,410$58,046,632
90$104,967,330$22,916,702$14,121,281$63,206,377
91$115,536,628$23,902,251$14,456,974$68,865,477
92$127,179,667$24,931,764$14,799,585$75,073,847
93$140,005,832$26,007,259$15,149,211$81,886,451
94$154,135,662$27,130,850$15,505,944$89,363,817
95$169,701,986$28,304,748$15,869,880$97,572,603
96$186,851,176$29,531,269$16,241,108$106,586,217
97$205,744,531$30,812,835$16,619,720$116,485,508
98$226,559,795$32,151,987$17,005,803$127,359,517
99$249,492,841$33,551,380$17,399,444$139,306,318
100$274,759,511$35,013,798$17,800,725$152,433,929