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

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 $7,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$619,343$613,826$608,444$603,190$598,061$581,481
2 years$306,605$300,895$295,361$289,995$284,791$268,211
3 years$202,373$196,638$191,118$185,803$180,683$164,622
4 years$150,267$144,550$139,085$133,860$128,865$113,446
5 years$119,012$113,329$107,936$102,818$97,961$83,226
6 years$98,182$92,542$87,228$82,224$77,513$63,477
7 years$83,309$77,716$72,487$67,601$63,039$49,701
8 years$72,160$66,617$61,475$56,709$52,297$39,651
9 years$63,492$58,002$52,948$48,303$44,041$32,075
10 years$56,562$51,126$46,161$41,638$37,526$26,223
11 years$50,896$45,515$40,640$36,237$32,273$21,617
12 years$46,178$40,851$36,067$31,785$27,967$17,937
13 years$42,189$36,918$32,223$28,062$24,388$14,962
14 years$38,772$33,557$28,953$24,910$21,378$12,533
15 years$35,814$30,655$26,140$22,215$18,823$10,536
16 years$33,228$28,126$23,700$19,891$16,636$8,883
17 years$30,948$25,903$21,566$17,872$14,751$7,507
18 years$28,925$23,935$19,687$16,106$13,116$6,357
19 years$27,116$22,183$18,023$14,554$11,690$5,392
20 years$25,490$20,613$16,540$13,181$10,442$4,580
21 years$24,021$19,201$15,214$11,963$9,344$3,895
22 years$22,687$17,923$14,022$10,877$8,376$3,316
23 years$21,471$16,763$12,947$9,906$7,519$2,825
24 years$20,358$15,706$11,974$9,035$6,758$2,409
25 years$19,336$14,739$11,090$8,251$6,081$2,055
26 years$18,394$13,852$10,285$7,544$5,478$1,754
27 years$17,523$13,037$9,551$6,905$4,939$1,498
28 years$16,716$12,284$8,879$6,327$4,456$1,280
29 years$15,966$11,589$8,262$5,802$4,024$1,094
30 years$15,267$10,945$7,696$5,325$3,636$935
31 years$14,614$10,346$7,175$4,890$3,287$799
32 years$14,004$9,790$6,694$4,494$2,973$683
33 years$13,431$9,271$6,251$4,133$2,691$585
34 years$12,894$8,787$5,840$3,803$2,436$500
35 years$12,388$8,334$5,460$3,500$2,207$428
36 years$11,912$7,910$5,108$3,224$1,999$366
37 years$11,462$7,513$4,781$2,970$1,812$313
38 years$11,037$7,140$4,477$2,738$1,643$268
39 years$10,635$6,789$4,194$2,524$1,490$229
40 years$10,254$6,460$3,931$2,328$1,351$196
41 years$9,892$6,149$3,686$2,148$1,226$168
42 years$9,549$5,856$3,458$1,983$1,112$144
43 years$9,222$5,580$3,245$1,830$1,010$123
44 years$8,911$5,319$3,046$1,690$916$105
45 years$8,615$5,072$2,860$1,561$832$90
46 years$8,332$4,838$2,686$1,442$755$77
47 years$8,063$4,617$2,524$1,332$686$66
48 years$7,805$4,408$2,372$1,231$623$57
49 years$7,558$4,209$2,229$1,137$566$48
50 years$7,323$4,021$2,096$1,051$514$41

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 $5,901 every year, while hoping to spend $54,939 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: 67/15/18 Blend
61$7,500,000$7,500,000$7,500,000$7,500,000
62$8,271,087$7,873,587$7,757,337$8,788,383
63$9,056,283$8,200,938$7,958,753$9,462,377
64$9,919,728$8,542,488$8,165,075$10,192,169
65$10,869,345$8,898,875$8,376,410$10,988,856
66$11,913,864$9,270,765$8,592,865$11,859,010
67$13,062,902$9,658,857$8,814,551$12,809,863
68$14,327,059$10,063,881$9,041,578$13,849,375
69$15,718,008$10,486,601$9,274,061$14,986,309
70$17,248,617$10,927,817$9,512,114$16,230,310
71$18,933,061$11,388,364$9,755,854$17,591,999
72$20,786,957$11,869,118$10,005,400$19,083,067
73$22,827,517$12,370,995$10,260,871$20,716,389
74$25,073,703$12,894,954$10,522,390$22,506,138
75$27,546,410$13,441,996$10,790,079$24,467,924
76$30,268,662$14,013,171$11,064,065$26,618,933
77$33,265,828$14,609,579$11,344,473$28,978,095
78$36,565,862$15,232,368$11,631,433$31,566,254
79$40,199,568$15,882,742$11,925,073$34,406,366
80$44,200,887$16,561,959$12,225,527$37,523,715
81$48,607,221$17,271,339$12,532,925$40,946,149
82$53,459,783$18,012,260$12,847,404$44,704,339
83$58,803,987$18,786,168$13,169,099$48,832,069
84$64,689,877$19,594,572$13,498,146$53,366,552
85$71,172,595$20,439,057$13,834,685$58,348,777
86$78,312,908$21,321,279$14,178,855$63,823,896
87$86,177,774$22,242,972$14,530,796$69,841,649
88$94,840,982$23,205,952$14,890,652$76,456,827
89$104,383,838$24,212,119$15,258,565$83,729,790
90$114,895,941$25,263,465$15,634,679$91,727,031
91$126,476,025$26,362,073$16,019,139$100,521,805
92$139,232,889$27,510,124$16,412,090$110,194,813
93$153,286,428$28,709,904$16,813,678$120,834,965
94$168,768,758$29,963,804$17,224,051$132,540,214
95$185,825,470$31,274,329$17,643,356$145,418,474
96$204,617,000$32,644,103$18,071,740$159,588,644
97$225,320,141$34,075,871$18,509,350$175,181,718
98$248,129,717$35,572,511$18,956,335$192,342,021
99$273,260,418$37,137,034$19,412,842$211,228,570
100$300,948,827$38,772,594$19,879,019$232,016,568