Can I retire at age 62 with 7,600,000?

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 $7,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$627,601$622,011$616,556$611,233$606,035$598,710
2 years$310,694$304,907$299,299$293,862$288,588$281,216
3 years$205,072$199,260$193,666$188,280$183,092$175,903
4 years$152,271$146,477$140,940$135,645$130,583$123,631
5 years$120,599$114,840$109,375$104,189$99,267$92,573
6 years$99,491$93,775$88,391$83,320$78,547$72,119
7 years$84,420$78,753$73,453$68,502$63,879$57,720
8 years$73,122$67,505$62,294$57,465$52,994$47,103
9 years$64,339$58,776$53,654$48,947$44,629$39,003
10 years$57,317$51,808$46,777$42,193$38,026$32,662
11 years$51,575$46,121$41,182$36,721$32,704$27,596
12 years$46,794$41,396$36,548$32,209$28,340$23,484
13 years$42,751$37,410$32,653$28,436$24,713$20,103
14 years$39,289$34,005$29,339$25,242$21,663$17,291
15 years$36,291$31,064$26,489$22,511$19,074$14,934
16 years$33,671$28,501$24,016$20,157$16,858$12,941
17 years$31,361$26,248$21,854$18,110$14,947$11,247
18 years$29,310$24,254$19,950$16,321$13,290$9,799
19 years$27,477$22,479$18,263$14,748$11,846$8,556
20 years$25,830$20,888$16,761$13,357$10,581$7,483
21 years$24,341$19,457$15,417$12,122$9,469$6,556
22 years$22,990$18,162$14,209$11,022$8,488$5,751
23 years$21,758$16,987$13,119$10,038$7,619$5,051
24 years$20,630$15,915$12,133$9,155$6,848$4,440
25 years$19,594$14,936$11,238$8,361$6,162$3,907
26 years$18,639$14,037$10,422$7,645$5,551$3,441
27 years$17,757$13,211$9,678$6,997$5,004$3,032
28 years$16,939$12,448$8,997$6,411$4,516$2,674
29 years$16,179$11,744$8,373$5,879$4,077$2,359
30 years$15,470$11,091$7,799$5,396$3,684$2,082
31 years$14,809$10,484$7,271$4,955$3,331$1,839
32 years$14,190$9,920$6,784$4,554$3,013$1,624
33 years$13,610$9,395$6,334$4,188$2,727$1,435
34 years$13,066$8,904$5,918$3,853$2,469$1,268
35 years$12,553$8,445$5,533$3,547$2,236$1,121
36 years$12,071$8,016$5,176$3,267$2,026$992
37 years$11,615$7,613$4,845$3,010$1,836$877
38 years$11,184$7,235$4,537$2,774$1,665$776
39 years$10,777$6,880$4,250$2,558$1,510$686
40 years$10,390$6,546$3,984$2,359$1,369$607
41 years$10,024$6,231$3,736$2,177$1,242$537
42 years$9,676$5,934$3,504$2,009$1,127$476
43 years$9,345$5,654$3,288$1,855$1,023$421
44 years$9,030$5,389$3,087$1,712$929$373
45 years$8,730$5,139$2,898$1,581$843$330
46 years$8,443$4,903$2,722$1,461$765$292
47 years$8,170$4,679$2,557$1,350$695$259
48 years$7,909$4,466$2,403$1,247$631$229
49 years$7,659$4,265$2,259$1,153$573$203
50 years$7,420$4,074$2,124$1,065$521$180

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $7,600,000, adding $4,582 every year, while hoping to spend $25,253 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: 64/25/11 Blend
61$7,600,000$7,600,000$7,600,000$7,600,000
62$8,379,926$7,977,126$7,859,326$8,895,299
63$9,207,810$8,341,137$8,095,745$9,604,094
64$10,119,291$8,722,137$8,339,237$10,374,611
65$11,122,870$9,120,933$8,590,013$11,215,580
66$12,227,914$9,538,370$8,848,289$12,133,854
67$13,444,744$9,975,332$9,114,289$13,136,968
68$14,784,731$10,432,747$9,388,242$14,233,214
69$16,260,410$10,911,588$9,670,384$15,431,712
70$17,885,588$11,412,872$9,960,958$16,742,496
71$19,675,482$11,937,667$10,260,214$18,176,606
72$21,646,861$12,487,093$10,568,411$19,746,193
73$23,818,202$13,062,321$10,885,814$21,464,625
74$26,209,866$13,664,582$11,212,696$23,346,615
75$28,844,288$14,295,163$11,549,338$25,408,358
76$31,746,194$14,955,414$11,896,029$27,667,679
77$34,942,827$15,646,751$12,253,067$30,144,196
78$38,464,211$16,370,657$12,620,760$32,859,509
79$42,343,428$17,128,687$12,999,423$35,837,395
80$46,616,935$17,922,469$13,389,381$39,104,028
81$51,324,906$18,753,714$13,790,969$42,688,231
82$56,511,610$19,624,210$14,204,530$46,621,733
83$62,225,833$20,535,835$14,630,421$50,939,475
84$68,521,332$21,490,555$15,069,004$55,679,929
85$75,457,350$22,490,434$15,520,657$60,885,459
86$83,099,166$23,537,632$15,985,766$66,602,719
87$91,518,720$24,634,415$16,464,729$72,883,085
88$100,795,288$25,783,159$16,957,955$79,783,137
89$111,016,227$26,986,354$17,465,867$87,365,191
90$122,277,807$28,246,610$17,988,897$95,697,874
91$134,686,112$29,566,663$18,527,495$104,856,777
92$148,358,048$30,949,382$19,082,118$114,925,154
93$163,422,440$32,397,773$19,653,240$125,994,706
94$180,021,254$33,914,989$20,241,349$138,166,441
95$198,310,934$35,504,336$20,846,946$151,551,620
96$218,463,878$37,169,276$21,470,548$166,272,798
97$240,670,067$38,913,444$22,112,684$182,464,980
98$265,138,857$40,740,647$22,773,903$200,276,880
99$292,100,959$42,654,876$23,454,766$219,872,325
100$321,810,609$44,660,318$24,155,854$241,431,787