Can I retire at age 62 with 7,500,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $7,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$619,343$613,826$608,444$603,190$598,061$593,297
2 years$306,605$300,895$295,361$289,995$284,791$279,989
3 years$202,373$196,638$191,118$185,803$180,683$175,992
4 years$150,267$144,550$139,085$133,860$128,865$124,320
5 years$119,012$113,329$107,936$102,818$97,961$93,577
6 years$98,182$92,542$87,228$82,224$77,513$73,294
7 years$83,309$77,716$72,487$67,601$63,039$58,988
8 years$72,160$66,617$61,475$56,709$52,297$48,413
9 years$63,492$58,002$52,948$48,303$44,041$40,324
10 years$56,562$51,126$46,161$41,638$37,526$33,972
11 years$50,896$45,515$40,640$36,237$32,273$28,882
12 years$46,178$40,851$36,067$31,785$27,967$24,734
13 years$42,189$36,918$32,223$28,062$24,388$21,310
14 years$38,772$33,557$28,953$24,910$21,378$18,451
15 years$35,814$30,655$26,140$22,215$18,823$16,043
16 years$33,228$28,126$23,700$19,891$16,636$13,999
17 years$30,948$25,903$21,566$17,872$14,751$12,252
18 years$28,925$23,935$19,687$16,106$13,116$10,751
19 years$27,116$22,183$18,023$14,554$11,690$9,454
20 years$25,490$20,613$16,540$13,181$10,442$8,330
21 years$24,021$19,201$15,214$11,963$9,344$7,352
22 years$22,687$17,923$14,022$10,877$8,376$6,498
23 years$21,471$16,763$12,947$9,906$7,519$5,751
24 years$20,358$15,706$11,974$9,035$6,758$5,095
25 years$19,336$14,739$11,090$8,251$6,081$4,519
26 years$18,394$13,852$10,285$7,544$5,478$4,011
27 years$17,523$13,037$9,551$6,905$4,939$3,563
28 years$16,716$12,284$8,879$6,327$4,456$3,167
29 years$15,966$11,589$8,262$5,802$4,024$2,817
30 years$15,267$10,945$7,696$5,325$3,636$2,506
31 years$14,614$10,346$7,175$4,890$3,287$2,232
32 years$14,004$9,790$6,694$4,494$2,973$1,988
33 years$13,431$9,271$6,251$4,133$2,691$1,771
34 years$12,894$8,787$5,840$3,803$2,436$1,578
35 years$12,388$8,334$5,460$3,500$2,207$1,407
36 years$11,912$7,910$5,108$3,224$1,999$1,255
37 years$11,462$7,513$4,781$2,970$1,812$1,119
38 years$11,037$7,140$4,477$2,738$1,643$999
39 years$10,635$6,789$4,194$2,524$1,490$891
40 years$10,254$6,460$3,931$2,328$1,351$795
41 years$9,892$6,149$3,686$2,148$1,226$710
42 years$9,549$5,856$3,458$1,983$1,112$634
43 years$9,222$5,580$3,245$1,830$1,010$566
44 years$8,911$5,319$3,046$1,690$916$505
45 years$8,615$5,072$2,860$1,561$832$451
46 years$8,332$4,838$2,686$1,442$755$403
47 years$8,063$4,617$2,524$1,332$686$360
48 years$7,805$4,408$2,372$1,231$623$321
49 years$7,558$4,209$2,229$1,137$566$287
50 years$7,323$4,021$2,096$1,051$514$256

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $7,500,000, adding $4,639 every year, while hoping to spend $25,050 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: 75/5/20 Blend
61$7,500,000$7,500,000$7,500,000$7,500,000
62$8,269,785$7,872,285$7,756,035$8,850,641
63$9,086,650$8,231,374$7,989,209$9,595,504
64$9,985,996$8,607,219$8,229,355$10,408,237
65$10,976,209$9,000,614$8,476,680$11,298,478
66$12,066,530$9,412,392$8,731,397$12,273,952
67$13,267,143$9,843,426$8,993,725$13,343,169
68$14,589,268$10,294,630$9,263,891$14,515,495
69$16,045,269$10,766,963$9,542,128$15,801,250
70$17,648,771$11,261,429$9,828,673$17,211,794
71$19,414,787$11,779,080$10,123,775$18,759,644
72$21,359,861$12,321,020$10,427,687$20,458,583
73$23,502,222$12,888,406$10,740,670$22,323,793
74$25,861,960$13,482,448$11,062,993$24,371,996
75$28,461,209$14,104,418$11,394,933$26,621,611
76$31,324,364$14,755,646$11,736,775$29,092,928
77$34,478,304$15,437,528$12,088,812$31,808,299
78$37,952,651$16,151,526$12,451,347$34,792,342
79$41,780,043$16,899,173$12,824,689$38,072,180
80$45,996,451$17,682,076$13,209,159$41,677,692
81$50,641,509$18,501,918$13,605,087$45,641,794
82$55,758,897$19,360,466$14,012,811$50,000,748
83$61,396,744$20,259,568$14,432,680$54,794,503
84$67,608,091$21,201,166$14,865,054$60,067,074
85$74,451,385$22,187,292$15,310,302$65,866,949
86$81,991,034$23,220,077$15,768,804$72,247,553
87$90,298,014$24,301,755$16,240,954$79,267,746
88$99,450,538$25,434,668$16,727,152$86,992,377
89$109,534,797$26,621,270$17,227,816$95,492,898
90$120,645,769$27,864,136$17,743,371$104,848,031
91$132,888,122$29,165,962$18,274,258$115,144,516
92$146,377,193$30,529,578$18,820,928$126,477,924
93$161,240,086$31,957,946$19,383,849$138,953,555
94$177,616,865$33,454,176$19,963,498$152,687,436
95$195,661,880$35,021,525$20,560,370$167,807,410
96$215,545,221$36,663,409$21,174,972$184,454,341
97$237,454,327$38,383,410$21,807,827$202,783,442
98$261,595,752$40,185,280$22,459,472$222,965,739
99$288,197,116$42,072,956$23,130,462$245,189,681
100$317,509,255$44,050,564$23,821,365$269,662,919