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

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 $7,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$652,375$646,564$640,894$635,360$629,957$621,570
2 years$322,958$316,943$311,114$305,462$299,980$291,543
3 years$213,166$207,126$201,311$195,712$190,319$182,096
4 years$158,282$152,259$146,503$141,000$135,737$127,790
5 years$125,359$119,373$113,692$108,301$103,185$95,537
6 years$103,418$97,477$91,880$86,609$81,647$74,307
7 years$87,752$81,861$76,353$71,206$66,401$59,372
8 years$76,008$70,170$64,753$59,733$55,086$48,368
9 years$66,878$61,096$55,772$50,879$46,390$39,979
10 years$59,579$53,853$48,623$43,859$39,527$33,419
11 years$53,611$47,942$42,807$38,170$33,994$28,183
12 years$48,641$43,030$37,990$33,480$29,459$23,938
13 years$44,439$38,887$33,942$29,558$25,689$20,451
14 years$40,840$35,347$30,497$26,238$22,519$17,556
15 years$37,724$32,290$27,535$23,400$19,827$15,131
16 years$35,000$29,626$24,964$20,952$17,523$13,085
17 years$32,599$27,284$22,716$18,825$15,537$11,348
18 years$30,467$25,212$20,737$16,965$13,815$9,866
19 years$28,562$23,366$18,984$15,330$12,314$8,595
20 years$26,850$21,713$17,422$13,884$10,999$7,501
21 years$25,302$20,225$16,025$12,601$9,843$6,557
22 years$23,897$18,879$14,770$11,457$8,823$5,739
23 years$22,617$17,657$13,637$10,434$7,920$5,028
24 years$21,444$16,544$12,612$9,516$7,118$4,411
25 years$20,367$15,525$11,681$8,691$6,405$3,872
26 years$19,375$14,591$10,834$7,947$5,770$3,402
27 years$18,458$13,732$10,060$7,274$5,202$2,991
28 years$17,607$12,940$9,352$6,664$4,694$2,631
29 years$16,817$12,207$8,703$6,111$4,238$2,315
30 years$16,081$11,528$8,107$5,609$3,830$2,039
31 years$15,394$10,898$7,558$5,151$3,462$1,796
32 years$14,751$10,312$7,051$4,734$3,132$1,582
33 years$14,148$9,765$6,584$4,353$2,834$1,395
34 years$13,582$9,255$6,152$4,005$2,566$1,230
35 years$13,049$8,779$5,751$3,687$2,324$1,084
36 years$12,547$8,332$5,380$3,396$2,106$956
37 years$12,073$7,914$5,036$3,129$1,909$844
38 years$11,626$7,521$4,716$2,884$1,730$744
39 years$11,202$7,152$4,418$2,659$1,569$657
40 years$10,801$6,804$4,141$2,453$1,423$580
41 years$10,420$6,477$3,883$2,263$1,291$512
42 years$10,058$6,168$3,642$2,088$1,172$452
43 years$9,714$5,877$3,418$1,928$1,063$399
44 years$9,386$5,602$3,208$1,780$965$352
45 years$9,074$5,342$3,013$1,644$876$311
46 years$8,777$5,096$2,829$1,518$796$275
47 years$8,493$4,863$2,658$1,403$722$242
48 years$8,221$4,643$2,498$1,296$656$214
49 years$7,962$4,434$2,348$1,198$596$189
50 years$7,713$4,235$2,207$1,107$541$167

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 $6,699 every year, while hoping to spend $20,008 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: 85/10/5 Blend
61$7,900,000$7,900,000$7,900,000$7,900,000
62$8,712,710$8,294,010$8,171,560$9,452,858
63$9,580,118$8,679,128$8,424,019$10,321,434
64$10,535,331$9,082,446$8,684,265$11,272,001
65$11,587,284$9,504,836$8,952,537$12,315,602
66$12,745,823$9,947,209$9,229,083$13,461,567
67$14,021,797$10,410,522$9,514,157$14,720,173
68$15,427,161$10,895,778$9,808,022$16,102,737
69$16,975,089$11,404,029$10,110,948$17,621,724
70$18,680,098$11,936,376$10,423,215$19,290,861
71$20,558,185$12,493,975$10,745,109$21,125,268
72$22,626,977$13,078,037$11,076,928$23,141,601
73$24,905,900$13,689,832$11,418,976$25,358,203
74$27,416,358$14,330,690$11,771,568$27,795,281
75$30,181,940$15,002,007$12,135,029$30,475,092
76$33,228,638$15,705,246$12,509,692$33,422,155
77$36,585,095$16,441,940$12,895,904$36,663,479
78$40,282,877$17,213,696$13,294,018$40,228,817
79$44,356,764$18,022,201$13,704,401$44,150,946
80$48,845,086$18,869,221$14,127,431$48,465,972
81$53,790,081$19,756,609$14,563,496$53,213,676
82$59,238,293$20,686,307$15,012,997$58,437,879
83$65,241,014$21,660,351$15,476,348$64,186,862
84$71,854,766$22,680,877$15,953,974$70,513,814
85$79,141,835$23,750,122$16,446,315$77,477,336
86$87,170,857$24,870,434$16,953,822$85,141,992
87$96,017,472$26,044,272$17,476,962$93,578,912
88$105,765,029$27,274,217$18,016,215$102,866,468
89$116,505,382$28,562,973$18,572,078$113,091,006
90$128,339,748$29,913,376$19,145,060$124,347,664
91$141,379,671$31,328,399$19,735,688$136,741,260
92$155,748,067$32,811,161$20,344,503$150,387,288
93$171,580,392$34,364,930$20,972,066$165,413,000
94$189,025,913$35,993,133$21,618,951$181,958,605
95$208,249,124$37,699,364$22,285,754$200,178,591
96$229,431,293$39,487,391$22,973,085$220,243,179
97$252,772,177$41,361,165$23,681,576$242,339,929
98$278,491,906$43,324,830$24,411,876$266,675,506
99$306,833,062$45,382,728$25,164,655$293,477,626
100$338,062,969$47,539,416$25,940,605$322,997,204