Can I retire at age 62 with 8,200,000?

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 $8,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$677,148$671,117$665,232$659,488$653,880$636,009
2 years$335,222$328,979$322,928$317,062$311,371$293,497
3 years$221,261$214,991$208,956$203,144$197,547$180,229
4 years$164,292$158,041$152,066$146,354$140,892$124,264
5 years$130,120$123,906$118,010$112,414$107,104$91,211
6 years$107,345$101,179$95,369$89,898$84,748$69,605
7 years$91,085$84,970$79,252$73,910$68,922$54,530
8 years$78,894$72,835$67,212$62,002$57,178$43,529
9 years$69,418$63,416$57,890$52,812$48,152$35,234
10 years$61,842$55,898$50,470$45,524$41,028$28,823
11 years$55,647$49,763$44,433$39,620$35,285$23,775
12 years$50,488$44,664$39,433$34,752$30,578$19,741
13 years$46,126$40,363$35,231$30,681$26,664$16,478
14 years$42,391$36,689$31,655$27,235$23,374$13,813
15 years$39,156$33,516$28,580$24,289$20,580$11,620
16 years$36,329$30,751$25,912$21,748$18,189$9,804
17 years$33,837$28,320$23,579$19,540$16,127$8,291
18 years$31,624$26,169$21,525$17,610$14,340$7,026
19 years$29,647$24,253$19,705$15,912$12,781$5,964
20 years$27,869$22,537$18,084$14,411$11,416$5,070
21 years$26,263$20,993$16,634$13,079$10,216$4,315
22 years$24,805$19,596$15,331$11,892$9,158$3,676
23 years$23,475$18,328$14,155$10,830$8,220$3,135
24 years$22,259$17,172$13,091$9,878$7,389$2,675
25 years$21,141$16,115$12,125$9,021$6,649$2,284
26 years$20,111$15,145$11,245$8,248$5,989$1,951
27 years$19,159$14,254$10,442$7,550$5,400$1,667
28 years$18,276$13,431$9,707$6,917$4,872$1,426
29 years$17,456$12,671$9,034$6,343$4,399$1,219
30 years$16,692$11,966$8,414$5,822$3,975$1,043
31 years$15,978$11,312$7,845$5,347$3,594$893
32 years$15,311$10,703$7,319$4,914$3,251$764
33 years$14,685$10,136$6,834$4,519$2,942$654
34 years$14,097$9,607$6,385$4,157$2,664$560
35 years$13,544$9,112$5,970$3,827$2,413$479
36 years$13,023$8,649$5,585$3,525$2,186$410
37 years$12,532$8,214$5,227$3,248$1,981$352
38 years$12,067$7,806$4,895$2,993$1,796$301
39 years$11,627$7,423$4,586$2,760$1,629$258
40 years$11,211$7,062$4,298$2,546$1,477$221
41 years$10,815$6,723$4,031$2,349$1,340$189
42 years$10,440$6,403$3,781$2,168$1,216$162
43 years$10,083$6,100$3,548$2,001$1,104$139
44 years$9,743$5,815$3,330$1,848$1,002$119
45 years$9,419$5,545$3,127$1,706$910$102
46 years$9,110$5,290$2,937$1,576$826$87
47 years$8,815$5,048$2,759$1,456$750$75
48 years$8,533$4,819$2,593$1,346$681$64
49 years$8,264$4,602$2,437$1,244$619$55
50 years$8,006$4,396$2,291$1,149$562$47

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,200,000, adding $5,615 every year, while hoping to spend $24,561 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: 44/48/8 Blend
61$8,200,000$8,200,000$8,200,000$8,200,000
62$9,042,192$8,607,592$8,480,492$9,419,228
63$9,938,363$9,003,231$8,738,456$10,076,573
64$10,925,120$9,417,434$9,004,238$10,785,625
65$12,011,677$9,851,083$9,278,075$11,553,527
66$13,208,187$10,305,105$9,560,210$12,385,689
67$14,525,838$10,780,471$9,850,892$13,288,046
68$15,976,957$11,278,198$10,150,381$14,267,108
69$17,575,129$11,799,352$10,458,941$15,330,021
70$19,335,324$12,345,051$10,776,847$16,484,629
71$21,274,035$12,916,467$11,104,379$17,739,544
72$23,409,440$13,514,827$11,441,829$19,104,221
73$25,761,568$14,141,418$11,789,496$20,589,044
74$28,352,490$14,797,590$12,147,686$22,205,421
75$31,206,528$15,484,757$12,516,718$23,965,884
76$34,350,485$16,204,400$12,896,919$25,884,200
77$37,813,892$16,958,074$13,288,624$27,975,501
78$41,629,297$17,747,408$13,692,180$30,256,416
79$45,832,562$18,574,107$14,107,945$32,745,223
80$50,463,208$19,439,963$14,536,286$35,462,018
81$55,564,785$20,346,852$14,977,582$38,428,893
82$61,185,285$21,296,739$15,432,222$41,670,139
83$67,377,592$22,291,686$15,900,609$45,212,473
84$74,199,983$23,333,856$16,383,156$49,085,273
85$81,716,679$24,425,513$16,880,290$53,320,855
86$89,998,450$25,569,032$17,392,449$57,954,766
87$99,123,281$26,766,904$17,920,085$63,026,111
88$109,177,112$28,021,739$18,463,665$68,577,913
89$120,254,647$29,336,274$19,023,667$74,657,511
90$132,460,246$30,713,377$19,600,585$81,316,991
91$145,908,915$32,156,056$20,194,928$88,613,675
92$160,727,386$33,667,464$20,807,220$96,610,644
93$177,055,318$35,250,909$21,438,001$105,377,324
94$195,046,612$36,909,854$22,087,825$114,990,131
95$214,870,864$38,647,935$22,757,265$125,533,175
96$236,714,970$40,468,962$23,446,911$137,099,046
97$260,784,884$42,376,928$24,157,370$149,789,668
98$287,307,566$44,376,021$24,889,265$163,717,251
99$316,533,124$46,470,632$25,643,242$179,005,330
100$348,737,175$48,665,365$26,419,963$195,789,920