Can I retire at age 62 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$660,633$654,748$649,007$643,403$637,931$618,502
2 years$327,046$320,955$315,052$309,328$303,777$284,369
3 years$215,865$209,748$203,859$198,190$192,728$173,950
4 years$160,285$154,187$148,357$142,785$137,456$119,451
5 years$126,946$120,884$115,131$109,672$104,492$87,310
6 years$104,727$98,711$93,043$87,706$82,681$66,337
7 years$88,863$82,897$77,319$72,108$67,241$51,734
8 years$76,970$71,058$65,573$60,489$55,783$41,103
9 years$67,725$61,869$56,478$51,524$46,978$33,109
10 years$60,333$54,535$49,239$44,414$40,027$26,950
11 years$54,289$48,549$43,349$38,653$34,425$22,116
12 years$49,256$43,575$38,471$33,904$29,832$18,266
13 years$45,001$39,379$34,371$29,932$26,014$15,165
14 years$41,357$35,794$30,883$26,571$22,804$12,642
15 years$38,201$32,699$27,883$23,696$20,078$10,575
16 years$35,443$30,001$25,280$21,217$17,745$8,871
17 years$33,012$27,629$23,004$19,064$15,734$7,459
18 years$30,853$25,531$21,000$17,180$13,990$6,284
19 years$28,924$23,662$19,224$15,524$12,470$5,302
20 years$27,189$21,988$17,643$14,060$11,138$4,480
21 years$25,622$20,481$16,228$12,760$9,967$3,789
22 years$24,200$19,118$14,957$11,602$8,934$3,208
23 years$22,903$17,881$13,810$10,566$8,020$2,718
24 years$21,716$16,753$12,772$9,637$7,208$2,305
25 years$20,625$15,722$11,829$8,801$6,487$1,955
26 years$19,620$14,776$10,971$8,047$5,843$1,660
27 years$18,691$13,906$10,188$7,366$5,268$1,409
28 years$17,830$13,103$9,471$6,749$4,753$1,197
29 years$17,030$12,362$8,813$6,189$4,292$1,017
30 years$16,285$11,674$8,209$5,680$3,878$864
31 years$15,589$11,036$7,653$5,216$3,506$735
32 years$14,937$10,442$7,141$4,794$3,172$625
33 years$14,327$9,889$6,667$4,408$2,870$531
34 years$13,753$9,373$6,229$4,056$2,599$452
35 years$13,214$8,890$5,824$3,734$2,354$384
36 years$12,706$8,438$5,448$3,439$2,133$327
37 years$12,226$8,014$5,100$3,168$1,933$278
38 years$11,773$7,616$4,775$2,920$1,752$237
39 years$11,344$7,242$4,474$2,693$1,589$201
40 years$10,937$6,890$4,194$2,484$1,441$171
41 years$10,552$6,559$3,932$2,291$1,308$146
42 years$10,185$6,246$3,689$2,115$1,187$124
43 years$9,837$5,952$3,461$1,952$1,077$105
44 years$9,505$5,673$3,249$1,803$977$90
45 years$9,189$5,410$3,051$1,665$887$76
46 years$8,888$5,161$2,865$1,538$806$65
47 years$8,600$4,925$2,692$1,421$732$55
48 years$8,325$4,702$2,530$1,313$664$47
49 years$8,062$4,490$2,378$1,213$603$40
50 years$7,811$4,289$2,235$1,121$548$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,000,000, adding $6,676 every year, while hoping to spend $42,792 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: 66/11/23 Blend
61$8,000,000$8,000,000$8,000,000$8,000,000
62$8,822,886$8,398,886$8,274,886$9,352,637
63$9,677,290$8,764,901$8,506,565$10,075,583
64$10,617,409$9,147,417$8,744,570$10,860,179
65$11,651,941$9,547,196$8,989,069$11,716,983
66$12,790,469$9,965,039$9,240,233$12,653,098
67$14,043,553$10,401,782$9,498,237$13,676,342
68$15,422,828$10,858,302$9,763,260$14,795,322
69$16,941,114$11,335,516$10,035,487$16,019,512
70$18,612,538$11,834,387$10,315,106$17,359,342
71$20,452,665$12,355,920$10,602,310$18,826,296
72$22,478,646$12,901,170$10,897,297$20,433,017
73$24,709,382$13,471,241$11,200,271$22,193,428
74$27,165,698$14,067,290$11,511,438$24,122,856
75$29,870,540$14,690,528$11,831,013$26,238,184
76$32,849,195$15,342,224$12,159,212$28,558,001
77$36,129,527$16,023,707$12,496,259$31,102,778
78$39,742,238$16,736,369$12,842,383$33,895,063
79$43,721,163$17,481,667$13,197,819$36,959,687
80$48,103,582$18,261,129$13,562,806$40,323,999
81$52,930,577$19,076,354$13,937,591$44,018,122
82$58,247,420$19,929,020$14,322,424$48,075,235
83$64,103,996$20,820,880$14,717,564$52,531,886
84$70,555,275$21,753,775$15,123,274$57,428,331
85$77,661,834$22,729,631$15,539,825$62,808,915
86$85,490,424$23,750,466$15,967,492$68,722,486
87$94,114,604$24,818,396$16,406,560$75,222,857
88$103,615,431$25,935,634$16,857,317$82,369,307
89$114,082,228$27,104,504$17,320,060$90,227,140
90$125,613,427$28,327,435$17,795,093$98,868,302
91$138,317,494$29,606,977$18,282,726$108,372,049
92$152,313,958$30,945,799$18,783,277$118,825,702
93$167,734,536$32,346,697$19,297,071$130,325,462
94$184,724,376$33,812,603$19,824,441$142,977,314
95$203,443,429$35,346,587$20,365,726$156,898,030
96$224,067,956$36,951,867$20,921,275$172,216,262
97$246,792,194$38,631,815$21,491,444$189,073,757
98$271,830,187$40,389,963$22,076,597$207,626,688
99$299,417,809$42,230,014$22,677,106$228,047,126
100$329,814,988$44,155,848$23,293,352$250,524,661