Can I retire at age 62 with 7,900,000?

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 $7,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$652,375$646,564$640,894$635,360$629,957$607,123
2 years$322,958$316,943$311,114$305,462$299,980$277,225
3 years$213,166$207,126$201,311$195,712$190,319$168,360
4 years$158,282$152,259$146,503$141,000$135,737$114,741
5 years$125,359$119,373$113,692$108,301$103,185$83,206
6 years$103,418$97,477$91,880$86,609$81,647$62,700
7 years$87,752$81,861$76,353$71,206$66,401$48,482
8 years$76,008$70,170$64,753$59,733$55,086$38,179
9 years$66,878$61,096$55,772$50,879$46,390$30,473
10 years$59,579$53,853$48,623$43,859$39,527$24,571
11 years$53,611$47,942$42,807$38,170$33,994$19,969
12 years$48,641$43,030$37,990$33,480$29,459$16,329
13 years$44,439$38,887$33,942$29,558$25,689$13,419
14 years$40,840$35,347$30,497$26,238$22,519$11,071
15 years$37,724$32,290$27,535$23,400$19,827$9,163
16 years$35,000$29,626$24,964$20,952$17,523$7,603
17 years$32,599$27,284$22,716$18,825$15,537$6,323
18 years$30,467$25,212$20,737$16,965$13,815$5,267
19 years$28,562$23,366$18,984$15,330$12,314$4,394
20 years$26,850$21,713$17,422$13,884$10,999$3,670
21 years$25,302$20,225$16,025$12,601$9,843$3,069
22 years$23,897$18,879$14,770$11,457$8,823$2,568
23 years$22,617$17,657$13,637$10,434$7,920$2,150
24 years$21,444$16,544$12,612$9,516$7,118$1,801
25 years$20,367$15,525$11,681$8,691$6,405$1,510
26 years$19,375$14,591$10,834$7,947$5,770$1,266
27 years$18,458$13,732$10,060$7,274$5,202$1,062
28 years$17,607$12,940$9,352$6,664$4,694$891
29 years$16,817$12,207$8,703$6,111$4,238$748
30 years$16,081$11,528$8,107$5,609$3,830$628
31 years$15,394$10,898$7,558$5,151$3,462$527
32 years$14,751$10,312$7,051$4,734$3,132$443
33 years$14,148$9,765$6,584$4,353$2,834$372
34 years$13,582$9,255$6,152$4,005$2,566$312
35 years$13,049$8,779$5,751$3,687$2,324$262
36 years$12,547$8,332$5,380$3,396$2,106$220
37 years$12,073$7,914$5,036$3,129$1,909$185
38 years$11,626$7,521$4,716$2,884$1,730$156
39 years$11,202$7,152$4,418$2,659$1,569$131
40 years$10,801$6,804$4,141$2,453$1,423$110
41 years$10,420$6,477$3,883$2,263$1,291$92
42 years$10,058$6,168$3,642$2,088$1,172$78
43 years$9,714$5,877$3,418$1,928$1,063$65
44 years$9,386$5,602$3,208$1,780$965$55
45 years$9,074$5,342$3,013$1,644$876$46
46 years$8,777$5,096$2,829$1,518$796$39
47 years$8,493$4,863$2,658$1,403$722$32
48 years$8,221$4,643$2,498$1,296$656$27
49 years$7,962$4,434$2,348$1,198$596$23
50 years$7,713$4,235$2,207$1,107$541$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $7,900,000, adding $5,403 every year, while hoping to spend $54,908 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: 64/10/26 Blend
61$7,900,000$7,900,000$7,900,000$7,900,000
62$8,711,373$8,292,673$8,170,223$9,208,840
63$9,541,512$8,640,592$8,385,504$9,893,713
64$10,454,484$9,003,720$8,606,156$10,635,143
65$11,458,681$9,382,742$8,832,302$11,444,060
66$12,563,348$9,778,378$9,064,066$12,327,094
67$13,778,672$10,191,380$9,301,575$13,291,541
68$15,115,875$10,622,536$9,544,956$14,345,435
69$16,587,324$11,072,670$9,794,342$15,497,620
70$18,206,644$11,542,644$10,049,865$16,757,831
71$19,988,848$12,033,360$10,311,662$18,136,788
72$21,950,478$12,545,763$10,579,871$19,646,294
73$24,109,762$13,080,841$10,854,632$21,299,346
74$26,486,784$13,639,628$11,136,088$23,110,257
75$29,103,673$14,223,207$11,424,384$25,094,786
76$31,984,815$14,832,711$11,719,668$27,270,291
77$35,157,079$15,469,327$12,022,090$29,655,888
78$38,650,074$16,134,296$12,331,802$32,272,629
79$42,496,423$16,828,919$12,648,959$35,143,703
80$46,732,077$17,554,555$12,973,719$38,294,649
81$51,396,651$18,312,629$13,306,240$41,753,599
82$56,533,794$19,104,633$13,646,684$45,551,539
83$62,191,609$19,932,128$13,995,215$49,722,603
84$68,423,099$20,796,748$14,352,001$54,304,388
85$75,286,671$21,700,205$14,717,209$59,338,315
86$82,846,687$22,644,290$15,091,011$64,870,009
87$91,174,069$23,630,880$15,473,580$70,949,734
88$100,346,969$24,661,939$15,865,090$77,632,864
89$110,451,510$25,739,524$16,265,721$84,980,402
90$121,582,592$26,865,789$16,675,650$93,059,554
91$133,844,793$28,042,989$17,095,061$101,944,362
92$147,353,353$29,273,486$17,524,137$111,716,402
93$162,235,262$30,559,755$17,963,062$122,465,545
94$178,630,460$31,904,384$18,412,026$134,290,811
95$196,693,155$33,310,086$18,871,217$147,301,295
96$216,593,280$34,779,704$19,340,826$161,617,198
97$238,518,096$36,316,211$19,821,045$177,370,956
98$262,673,962$37,922,725$20,312,070$194,708,488
99$289,288,276$39,602,509$20,814,095$213,790,570
100$318,611,631$41,358,982$21,327,317$234,794,351