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%16.4%
1 years$578,053$572,904$567,881$562,978$558,190$543,593
2 years$286,165$280,836$275,670$270,662$265,805$251,198
3 years$188,882$183,529$178,377$173,416$168,637$154,478
4 years$140,249$134,913$129,813$124,936$120,274$106,671
5 years$111,078$105,774$100,740$95,963$91,430$78,421
6 years$91,636$86,372$81,413$76,743$72,346$59,943
7 years$77,755$72,535$67,655$63,094$58,836$47,041
8 years$67,349$62,176$57,376$52,928$48,810$37,616
9 years$59,259$54,135$49,418$45,083$41,105$30,503
10 years$52,792$47,718$43,084$38,862$35,024$25,000
11 years$47,503$42,480$37,930$33,822$30,122$20,662
12 years$43,099$38,128$33,662$29,666$26,103$17,189
13 years$39,376$34,457$30,075$26,191$22,762$14,377
14 years$36,187$31,320$27,023$23,249$19,953$12,077
15 years$33,426$28,611$24,398$20,734$17,568$10,181
16 years$31,013$26,250$22,120$18,565$15,527$8,608
17 years$28,885$24,176$20,128$16,681$13,767$7,296
18 years$26,996$22,339$18,375$15,033$12,241$6,197
19 years$25,308$20,704$16,821$13,583$10,911$5,272
20 years$23,791$19,239$15,438$12,302$9,746$4,492
21 years$22,420$17,921$14,200$11,165$8,721$3,832
22 years$21,175$16,728$13,087$10,152$7,817$3,272
23 years$20,040$15,645$12,084$9,245$7,017$2,796
24 years$19,001$14,659$11,175$8,432$6,307$2,392
25 years$18,047$13,757$10,351$7,701$5,676$2,047
26 years$17,168$12,929$9,600$7,041$5,112$1,753
27 years$16,355$12,168$8,914$6,445$4,609$1,502
28 years$15,601$11,466$8,287$5,905$4,159$1,287
29 years$14,901$10,816$7,712$5,415$3,756$1,104
30 years$14,249$10,215$7,183$4,970$3,393$946
31 years$13,640$9,657$6,697$4,564$3,068$812
32 years$13,070$9,137$6,248$4,195$2,775$697
33 years$12,536$8,653$5,834$3,857$2,512$598
34 years$12,034$8,201$5,451$3,549$2,274$513
35 years$11,562$7,779$5,096$3,267$2,060$440
36 years$11,118$7,383$4,767$3,009$1,866$378
37 years$10,698$7,012$4,462$2,772$1,691$325
38 years$10,301$6,664$4,179$2,555$1,533$279
39 years$9,926$6,337$3,915$2,356$1,390$239
40 years$9,570$6,029$3,669$2,173$1,261$206
41 years$9,233$5,739$3,441$2,005$1,144$177
42 years$8,912$5,466$3,228$1,850$1,038$152
43 years$8,607$5,208$3,029$1,708$942$130
44 years$8,317$4,964$2,843$1,577$855$112
45 years$8,041$4,734$2,669$1,457$776$96
46 years$7,777$4,516$2,507$1,345$705$83
47 years$7,525$4,309$2,355$1,243$640$71
48 years$7,285$4,114$2,213$1,149$581$61
49 years$7,055$3,928$2,080$1,062$528$52
50 years$6,834$3,753$1,956$981$480$45

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 $5,828 every year, while hoping to spend $30,814 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: 87/8/5 Blend
61$7,000,000$7,000,000$7,000,000$7,000,000
62$7,720,012$7,349,012$7,240,512$8,391,799
63$8,474,667$7,676,327$7,450,283$9,157,286
64$9,305,264$8,018,649$7,666,049$9,993,587
65$10,219,517$8,376,679$7,887,977$10,911,733
66$11,225,925$8,751,153$8,116,242$11,919,942
67$12,333,854$9,142,843$8,351,020$13,027,267
68$13,553,621$9,552,557$8,592,494$14,243,678
69$14,896,599$9,981,141$8,840,851$15,580,159
70$16,375,317$10,429,482$9,096,284$17,048,807
71$18,003,581$10,898,508$9,358,991$18,662,946
72$19,796,604$11,389,193$9,629,175$20,437,254
73$21,771,151$11,902,556$9,907,045$22,387,899
74$23,945,692$12,439,666$10,192,816$24,532,694
75$26,340,585$13,001,641$10,486,707$26,891,258
76$28,978,258$13,589,655$10,788,945$29,485,206
77$31,883,428$14,204,936$11,099,762$32,338,350
78$35,083,331$14,848,771$11,419,398$35,476,923
79$38,607,979$15,522,510$11,748,096$38,929,826
80$42,490,446$16,227,565$12,086,110$42,728,897
81$46,767,174$16,965,419$12,433,698$46,909,215
82$51,478,324$17,737,622$12,791,125$51,509,426
83$56,668,149$18,545,802$13,158,664$56,572,110
84$62,385,416$19,391,662$13,536,595$62,144,178
85$68,683,864$20,276,989$13,925,206$68,277,317
86$75,622,710$21,203,653$14,324,792$75,028,473
87$83,267,211$22,173,617$14,735,657$82,460,391
88$91,689,276$23,188,934$15,158,112$90,642,203
89$100,968,150$24,251,760$15,592,476$99,650,081
90$111,191,157$25,364,350$16,039,079$109,567,951
91$122,454,523$26,529,072$16,498,257$120,488,287
92$134,864,292$27,748,404$16,970,356$132,512,983
93$148,537,319$29,024,945$17,455,732$145,754,310
94$163,602,376$30,361,418$17,954,749$160,335,973
95$180,201,367$31,760,676$18,467,782$176,394,281
96$198,490,669$33,225,712$18,995,216$194,079,431
97$218,642,607$34,759,661$19,537,445$213,556,919
98$240,847,077$36,365,809$20,094,874$235,009,106
99$265,313,346$38,047,601$20,667,918$258,636,932
100$292,272,019$39,808,645$21,257,006$284,661,817