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

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 $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%13.9%
1 years$660,633$654,748$649,007$643,403$637,931$627,621
2 years$327,046$320,955$315,052$309,328$303,777$293,418
3 years$215,865$209,748$203,859$198,190$192,728$182,643
4 years$160,285$154,187$148,357$142,785$137,456$127,722
5 years$126,946$120,884$115,131$109,672$104,492$95,137
6 years$104,727$98,711$93,043$87,706$82,681$73,716
7 years$88,863$82,897$77,319$72,108$67,241$58,670
8 years$76,970$71,058$65,573$60,489$55,783$47,603
9 years$67,725$61,869$56,478$51,524$46,978$39,185
10 years$60,333$54,535$49,239$44,414$40,027$32,615
11 years$54,289$48,549$43,349$38,653$34,425$27,385
12 years$49,256$43,575$38,471$33,904$29,832$23,156
13 years$45,001$39,379$34,371$29,932$26,014$19,692
14 years$41,357$35,794$30,883$26,571$22,804$16,826
15 years$38,201$32,699$27,883$23,696$20,078$14,433
16 years$35,443$30,001$25,280$21,217$17,745$12,421
17 years$33,012$27,629$23,004$19,064$15,734$10,719
18 years$30,853$25,531$21,000$17,180$13,990$9,271
19 years$28,924$23,662$19,224$15,524$12,470$8,036
20 years$27,189$21,988$17,643$14,060$11,138$6,977
21 years$25,622$20,481$16,228$12,760$9,967$6,066
22 years$24,200$19,118$14,957$11,602$8,934$5,281
23 years$22,903$17,881$13,810$10,566$8,020$4,603
24 years$21,716$16,753$12,772$9,637$7,208$4,015
25 years$20,625$15,722$11,829$8,801$6,487$3,505
26 years$19,620$14,776$10,971$8,047$5,843$3,063
27 years$18,691$13,906$10,188$7,366$5,268$2,677
28 years$17,830$13,103$9,471$6,749$4,753$2,342
29 years$17,030$12,362$8,813$6,189$4,292$2,049
30 years$16,285$11,674$8,209$5,680$3,878$1,794
31 years$15,589$11,036$7,653$5,216$3,506$1,571
32 years$14,937$10,442$7,141$4,794$3,172$1,376
33 years$14,327$9,889$6,667$4,408$2,870$1,206
34 years$13,753$9,373$6,229$4,056$2,599$1,057
35 years$13,214$8,890$5,824$3,734$2,354$927
36 years$12,706$8,438$5,448$3,439$2,133$813
37 years$12,226$8,014$5,100$3,168$1,933$713
38 years$11,773$7,616$4,775$2,920$1,752$625
39 years$11,344$7,242$4,474$2,693$1,589$548
40 years$10,937$6,890$4,194$2,484$1,441$481
41 years$10,552$6,559$3,932$2,291$1,308$422
42 years$10,185$6,246$3,689$2,115$1,187$370
43 years$9,837$5,952$3,461$1,952$1,077$325
44 years$9,505$5,673$3,249$1,803$977$285
45 years$9,189$5,410$3,051$1,665$887$250
46 years$8,888$5,161$2,865$1,538$806$220
47 years$8,600$4,925$2,692$1,421$732$193
48 years$8,325$4,702$2,530$1,313$664$169
49 years$8,062$4,490$2,378$1,213$603$149
50 years$7,811$4,289$2,235$1,121$548$130

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 $4,428 every year, while hoping to spend $58,288 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: 50/26/24 Blend
61$8,000,000$8,000,000$8,000,000$8,000,000
62$8,820,567$8,396,567$8,272,567$9,201,812
63$9,658,247$8,745,981$8,487,681$9,816,809
64$10,579,417$9,110,563$8,708,046$10,478,609
65$11,592,531$9,490,994$8,933,779$11,196,729
66$12,706,904$9,887,987$9,164,996$11,976,525
67$13,932,799$10,302,289$9,401,814$12,823,884
68$15,281,523$10,734,681$9,644,353$13,745,280
69$16,765,537$11,185,978$9,892,737$14,747,831
70$18,398,566$11,657,036$10,147,089$15,839,365
71$20,195,737$12,148,748$10,407,534$17,028,491
72$22,173,716$12,662,050$10,674,200$18,324,679
73$24,350,867$13,197,922$10,947,217$19,738,347
74$26,747,422$13,757,387$11,226,716$21,280,956
75$29,385,679$14,341,519$11,512,830$22,965,116
76$32,290,203$14,951,438$11,805,695$24,804,704
77$35,488,066$15,588,320$12,105,447$26,814,990
78$39,009,094$16,253,394$12,412,226$29,012,778
79$42,886,157$16,947,945$12,726,170$31,416,566
80$47,155,471$17,673,320$13,047,423$34,046,711
81$51,856,945$18,430,929$13,376,128$36,925,623
82$57,034,556$19,222,247$13,712,431$40,077,972
83$62,736,761$20,048,818$14,056,478$43,530,916
84$69,016,959$20,912,258$14,408,418$47,314,356
85$75,933,990$21,814,260$14,768,401$51,461,211
86$83,552,693$22,756,595$15,136,578$56,007,729
87$91,944,516$23,741,117$15,513,103$60,993,822
88$101,188,194$24,769,769$15,898,129$66,463,440
89$111,370,485$25,844,583$16,291,811$72,464,980
90$122,586,994$26,967,687$16,694,306$79,051,741
91$134,943,074$28,141,310$17,105,772$86,282,419
92$148,554,818$29,367,784$17,526,366$94,221,657
93$163,550,158$30,649,554$17,956,248$102,940,652
94$180,070,069$31,989,178$18,395,577$112,517,818
95$198,269,902$33,389,333$18,844,515$123,039,526
96$218,320,847$34,852,826$19,303,221$134,600,906
97$240,411,552$36,382,593$19,771,858$147,306,744
98$264,749,902$37,981,711$20,250,587$161,272,464
99$291,564,979$39,653,402$20,739,568$176,625,211
100$321,109,227$41,401,039$21,238,964$193,505,041