Can I retire at age 62 with 7,100,000?

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 $7,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$586,311$581,089$575,993$571,020$566,164$563,068
2 years$290,253$284,847$279,608$274,529$269,602$266,478
3 years$191,580$186,151$180,925$175,893$171,047$167,991
4 years$142,253$136,841$131,667$126,721$121,992$119,029
5 years$112,665$107,285$102,179$97,334$92,736$89,874
6 years$92,945$87,606$82,576$77,839$73,379$70,622
7 years$78,866$73,571$68,621$63,996$59,677$57,025
8 years$68,311$63,064$58,196$53,684$49,508$46,963
9 years$60,106$54,909$50,124$45,727$41,693$39,253
10 years$53,546$48,399$43,699$39,417$35,524$33,189
11 years$48,182$43,087$38,472$34,305$30,552$28,320
12 years$43,715$38,673$34,143$30,090$26,476$24,344
13 years$39,939$34,949$30,505$26,565$23,087$21,055
14 years$36,704$31,768$27,409$23,581$20,238$18,302
15 years$33,904$29,020$24,746$21,030$17,819$15,977
16 years$31,456$26,625$22,436$18,830$15,749$13,998
17 years$29,298$24,521$20,416$16,919$13,964$12,302
18 years$27,382$22,659$18,637$15,247$12,416$10,841
19 years$25,670$21,000$17,061$13,777$11,067$9,574
20 years$24,131$19,514$15,658$12,478$9,885$8,473
21 years$22,740$18,177$14,402$11,325$8,846$7,511
22 years$21,477$16,967$13,274$10,297$7,929$6,669
23 years$20,326$15,869$12,256$9,377$7,118$5,928
24 years$19,273$14,868$11,335$8,553$6,398$5,277
25 years$18,305$13,953$10,498$7,811$5,757$4,701
26 years$17,413$13,114$9,737$7,142$5,186$4,193
27 years$16,589$12,341$9,041$6,537$4,675$3,742
28 years$15,824$11,629$8,405$5,989$4,218$3,342
29 years$15,114$10,971$7,822$5,492$3,809$2,987
30 years$14,453$10,361$7,286$5,041$3,442$2,671
31 years$13,835$9,794$6,792$4,629$3,112$2,389
32 years$13,257$9,268$6,337$4,255$2,815$2,139
33 years$12,715$8,777$5,917$3,912$2,547$1,915
34 years$12,206$8,318$5,529$3,600$2,306$1,715
35 years$11,728$7,890$5,169$3,314$2,089$1,537
36 years$11,276$7,488$4,835$3,052$1,893$1,378
37 years$10,851$7,112$4,526$2,812$1,715$1,235
38 years$10,448$6,759$4,238$2,592$1,555$1,107
39 years$10,068$6,427$3,971$2,390$1,410$993
40 years$9,707$6,115$3,722$2,204$1,279$891
41 years$9,364$5,821$3,490$2,034$1,161$799
42 years$9,039$5,544$3,274$1,877$1,053$717
43 years$8,730$5,282$3,072$1,733$956$644
44 years$8,436$5,035$2,883$1,600$867$578
45 years$8,155$4,801$2,707$1,477$788$519
46 years$7,888$4,580$2,543$1,365$715$466
47 years$7,633$4,371$2,389$1,261$649$418
48 years$7,389$4,173$2,245$1,165$590$375
49 years$7,155$3,985$2,110$1,077$536$337
50 years$6,932$3,806$1,984$995$486$303

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $7,100,000, adding $3,801 every year, while hoping to spend $57,810 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: 78/14/8 Blend
61$7,100,000$7,100,000$7,100,000$7,100,000
62$7,828,121$7,451,821$7,341,771$8,429,782
63$8,565,080$7,755,451$7,526,211$9,128,913
64$9,375,271$8,072,021$7,714,892$9,887,585
65$10,266,103$8,402,104$7,907,895$10,717,920
66$11,245,738$8,746,300$8,105,303$11,627,030
67$12,323,170$9,105,235$8,307,197$12,622,742
68$13,508,307$9,479,565$8,513,661$13,713,678
69$14,812,064$9,869,974$8,724,779$14,909,329
70$16,246,472$10,277,180$8,940,636$16,220,145
71$17,824,781$10,701,931$9,161,316$17,657,636
72$19,561,595$11,145,011$9,386,907$19,234,475
73$21,473,002$11,607,242$9,617,493$20,964,621
74$23,576,731$12,089,479$9,853,161$22,863,444
75$25,892,315$12,592,621$10,094,000$24,947,874
76$28,441,277$13,117,606$10,340,095$27,236,557
77$31,247,334$13,665,415$10,591,535$29,750,030
78$34,336,618$14,237,076$10,848,407$32,510,913
79$37,737,923$14,833,663$11,110,798$35,544,124
80$41,482,979$15,456,300$11,378,798$38,877,106
81$45,606,748$16,106,164$11,652,493$42,540,094
82$50,147,756$16,784,485$11,931,971$46,566,389
83$55,148,453$17,492,551$12,217,318$50,992,679
84$60,655,619$18,231,710$12,508,622$55,859,377
85$66,720,799$19,003,371$12,805,968$61,211,006
86$73,400,795$19,809,010$13,109,442$67,096,611
87$80,758,196$20,650,172$13,419,128$73,570,229
88$88,861,973$21,528,471$13,735,110$80,691,388
89$97,788,129$22,445,601$14,057,470$88,525,671
90$107,620,412$23,403,330$14,386,290$97,145,335
91$118,451,112$24,403,511$14,721,649$106,629,984
92$130,381,927$25,448,084$15,063,625$117,067,327
93$143,524,922$26,539,078$15,412,295$128,553,995
94$158,003,589$27,678,618$15,767,732$141,196,457
95$173,954,013$28,868,928$16,130,009$155,112,017
96$191,526,153$30,112,336$16,499,195$170,429,922
97$210,885,259$31,411,280$16,875,356$187,292,580
98$232,213,433$32,768,310$17,258,558$205,856,897
99$255,711,343$34,186,097$17,648,860$226,295,758
100$281,600,122$35,667,438$18,046,319$248,799,657