Can I retire at age 62 with 7,000,000?

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 $7,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$578,053$572,904$567,881$562,978$558,190$541,624
2 years$286,165$280,836$275,670$270,662$265,805$249,252
3 years$188,882$183,529$178,377$173,416$168,637$152,616
4 years$140,249$134,913$129,813$124,936$120,274$104,907
5 years$111,078$105,774$100,740$95,963$91,430$76,760
6 years$91,636$86,372$81,413$76,743$72,346$58,385
7 years$77,755$72,535$67,655$63,094$58,836$45,585
8 years$67,349$62,176$57,376$52,928$48,810$36,260
9 years$59,259$54,135$49,418$45,083$41,105$29,243
10 years$52,792$47,718$43,084$38,862$35,024$23,833
11 years$47,503$42,480$37,930$33,822$30,122$19,584
12 years$43,099$38,128$33,662$29,666$26,103$16,196
13 years$39,376$34,457$30,075$26,191$22,762$13,464
14 years$36,187$31,320$27,023$23,249$19,953$11,240
15 years$33,426$28,611$24,398$20,734$17,568$9,416
16 years$31,013$26,250$22,120$18,565$15,527$7,910
17 years$28,885$24,176$20,128$16,681$13,767$6,660
18 years$26,996$22,339$18,375$15,033$12,241$5,619
19 years$25,308$20,704$16,821$13,583$10,911$4,748
20 years$23,791$19,239$15,438$12,302$9,746$4,018
21 years$22,420$17,921$14,200$11,165$8,721$3,404
22 years$21,175$16,728$13,087$10,152$7,817$2,886
23 years$20,040$15,645$12,084$9,245$7,017$2,450
24 years$19,001$14,659$11,175$8,432$6,307$2,080
25 years$18,047$13,757$10,351$7,701$5,676$1,768
26 years$17,168$12,929$9,600$7,041$5,112$1,503
27 years$16,355$12,168$8,914$6,445$4,609$1,278
28 years$15,601$11,466$8,287$5,905$4,159$1,087
29 years$14,901$10,816$7,712$5,415$3,756$925
30 years$14,249$10,215$7,183$4,970$3,393$788
31 years$13,640$9,657$6,697$4,564$3,068$671
32 years$13,070$9,137$6,248$4,195$2,775$571
33 years$12,536$8,653$5,834$3,857$2,512$487
34 years$12,034$8,201$5,451$3,549$2,274$415
35 years$11,562$7,779$5,096$3,267$2,060$353
36 years$11,118$7,383$4,767$3,009$1,866$301
37 years$10,698$7,012$4,462$2,772$1,691$256
38 years$10,301$6,664$4,179$2,555$1,533$218
39 years$9,926$6,337$3,915$2,356$1,390$186
40 years$9,570$6,029$3,669$2,173$1,261$159
41 years$9,233$5,739$3,441$2,005$1,144$135
42 years$8,912$5,466$3,228$1,850$1,038$115
43 years$8,607$5,208$3,029$1,708$942$98
44 years$8,317$4,964$2,843$1,577$855$84
45 years$8,041$4,734$2,669$1,457$776$71
46 years$7,777$4,516$2,507$1,345$705$61
47 years$7,525$4,309$2,355$1,243$640$52
48 years$7,285$4,114$2,213$1,149$581$44
49 years$7,055$3,928$2,080$1,062$528$38
50 years$6,834$3,753$1,956$981$480$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $7,000,000, adding $5,381 every year, while hoping to spend $42,434 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: 56/30/14 Blend
61$7,000,000$7,000,000$7,000,000$7,000,000
62$7,719,551$7,348,551$7,240,051$8,123,616
63$8,461,795$7,663,480$7,437,443$8,713,218
64$9,278,327$7,992,419$7,640,025$9,350,054
65$10,176,677$8,336,009$7,847,928$10,042,765
66$11,165,147$8,694,921$8,061,281$10,796,705
67$12,252,879$9,069,860$8,280,221$11,617,757
68$13,449,950$9,461,560$8,504,886$12,512,392
69$14,767,461$9,870,793$8,735,416$13,487,722
70$16,217,645$10,298,365$8,971,956$14,551,573
71$17,813,981$10,745,121$9,214,653$15,712,549
72$19,571,321$11,211,946$9,463,657$16,980,116
73$21,506,029$11,699,765$9,719,123$18,364,687
74$23,636,138$12,209,547$9,981,208$19,877,718
75$25,981,518$12,742,309$10,250,072$21,531,814
76$28,564,063$13,299,112$10,525,880$23,340,844
77$31,407,899$13,881,070$10,808,798$25,320,073
78$34,539,611$14,489,349$11,098,999$27,486,298
79$37,988,493$15,125,169$11,396,658$29,858,006
80$41,786,825$15,789,808$11,701,951$32,455,546
81$45,970,177$16,484,604$12,015,063$35,301,317
82$50,577,746$17,210,960$12,336,178$38,419,977
83$55,652,723$17,970,344$12,665,487$41,838,668
84$61,242,703$18,764,293$13,003,183$45,587,276
85$67,400,133$19,594,418$13,349,464$49,698,702
86$74,182,807$20,462,406$13,704,532$54,209,171
87$81,654,412$21,370,022$14,068,592$59,158,573
88$89,885,127$22,319,117$14,441,854$64,590,828
89$98,952,286$23,311,631$14,824,533$70,554,304
90$108,941,110$24,349,591$15,216,846$77,102,260
91$119,945,509$25,435,127$15,619,015$84,293,354
92$132,068,967$26,570,464$16,031,268$92,192,181
93$145,425,521$27,757,937$16,453,836$100,869,885
94$160,140,839$28,999,990$16,886,953$110,404,819
95$176,353,398$30,299,183$17,330,860$120,883,284
96$194,215,802$31,658,201$17,785,802$132,400,332
97$213,896,214$33,079,852$18,252,026$145,060,662
98$235,579,945$34,567,082$18,729,786$158,979,597
99$259,471,205$36,122,975$19,219,340$174,284,167
100$285,795,031$37,750,764$19,720,950$191,114,301