Can I retire at age 62 with 8,400,000?

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 $8,400,000?

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$693,664$687,485$681,457$675,573$669,828$651,521
2 years$343,398$337,003$330,804$324,795$318,966$300,656
3 years$226,658$220,235$214,052$208,099$202,365$184,625
4 years$168,299$161,896$155,775$149,924$144,328$127,295
5 years$133,293$126,928$120,888$115,156$109,716$93,435
6 years$109,964$103,647$97,695$92,091$86,815$71,302
7 years$93,306$87,042$81,185$75,713$70,604$55,860
8 years$80,819$74,611$68,852$63,514$58,572$44,591
9 years$71,111$64,963$59,302$54,100$49,326$36,093
10 years$63,350$57,261$51,701$46,634$42,029$29,526
11 years$57,004$50,976$45,517$40,586$36,146$24,355
12 years$51,719$45,754$40,395$35,599$31,323$20,222
13 years$47,251$41,348$36,090$31,429$27,315$16,879
14 years$43,425$37,584$32,427$27,899$23,944$14,150
15 years$40,111$34,334$29,277$24,881$21,082$11,903
16 years$37,215$31,501$26,544$22,278$18,632$10,043
17 years$34,662$29,011$24,154$20,017$16,521$8,493
18 years$32,396$26,807$22,050$18,039$14,689$7,198
19 years$30,370$24,845$20,185$16,300$13,093$6,110
20 years$28,549$23,087$18,525$14,763$11,695$5,194
21 years$26,904$21,505$17,040$13,398$10,466$4,420
22 years$25,410$20,074$15,705$12,182$9,381$3,766
23 years$24,048$18,775$14,500$11,094$8,421$3,211
24 years$22,802$17,591$13,410$10,119$7,569$2,740
25 years$21,656$16,508$12,421$9,241$6,811$2,339
26 years$20,601$15,515$11,520$8,449$6,135$1,999
27 years$19,626$14,601$10,697$7,734$5,531$1,708
28 years$18,722$13,759$9,944$7,086$4,991$1,460
29 years$17,882$12,980$9,254$6,498$4,507$1,249
30 years$17,099$12,258$8,620$5,964$4,072$1,068
31 years$16,368$11,588$8,036$5,477$3,682$914
32 years$15,684$10,964$7,498$5,034$3,330$783
33 years$15,043$10,383$7,001$4,629$3,014$670
34 years$14,441$9,841$6,541$4,259$2,729$573
35 years$13,875$9,334$6,115$3,921$2,471$491
36 years$13,341$8,860$5,721$3,611$2,239$421
37 years$12,837$8,415$5,354$3,327$2,030$360
38 years$12,361$7,997$5,014$3,066$1,840$308
39 years$11,911$7,604$4,698$2,827$1,669$264
40 years$11,484$7,235$4,403$2,608$1,513$226
41 years$11,079$6,887$4,129$2,406$1,373$194
42 years$10,694$6,559$3,873$2,221$1,246$166
43 years$10,329$6,249$3,634$2,050$1,131$142
44 years$9,980$5,957$3,411$1,893$1,026$122
45 years$9,649$5,680$3,203$1,748$932$104
46 years$9,332$5,419$3,009$1,615$846$89
47 years$9,030$5,171$2,826$1,492$768$77
48 years$8,741$4,937$2,656$1,378$698$66
49 years$8,465$4,714$2,497$1,274$634$56
50 years$8,201$4,503$2,347$1,177$575$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,400,000, adding $4,879 every year, while hoping to spend $55,299 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: 62/27/11 Blend
61$8,400,000$8,400,000$8,400,000$8,400,000
62$9,261,833$8,816,633$8,686,433$9,812,303
63$10,147,702$9,189,810$8,918,590$10,554,772
64$11,122,076$9,579,420$9,156,672$11,358,067
65$12,193,925$9,986,208$9,400,818$12,233,521
66$13,373,131$10,410,958$9,651,170$13,188,123
67$14,670,581$10,854,486$9,907,876$14,229,560
68$16,098,273$11,317,648$10,171,082$15,366,289
69$17,669,426$11,801,342$10,440,942$16,607,612
70$19,398,603$12,306,503$10,717,610$17,963,764
71$21,301,854$12,834,115$11,001,243$19,446,006
72$23,396,862$13,385,205$11,292,003$21,066,729
73$25,703,109$13,960,848$11,590,053$22,839,570
74$28,242,067$14,562,170$11,895,560$24,779,534
75$31,037,392$15,190,350$12,208,695$26,903,138
76$34,115,150$15,846,622$12,529,631$29,228,563
77$37,504,066$16,532,278$12,858,545$31,775,819
78$41,235,791$17,248,669$13,195,616$34,566,936
79$45,345,200$17,997,212$13,541,027$37,626,163
80$49,870,725$18,779,390$13,894,966$40,980,200
81$54,854,713$19,596,754$14,257,622$44,658,443
82$60,343,829$20,450,931$14,629,187$48,693,256
83$66,389,494$21,343,620$15,009,859$53,120,277
84$73,048,370$22,276,606$15,399,837$57,978,748
85$80,382,897$23,251,752$15,799,325$63,311,881
86$88,461,879$24,271,014$16,208,529$69,167,265
87$97,361,134$25,336,438$16,627,658$75,597,304
88$107,164,213$26,450,166$17,056,927$82,659,714
89$117,963,180$27,614,442$17,496,552$90,418,060
90$129,859,492$28,831,617$17,946,754$98,942,350
91$142,964,945$30,104,151$18,407,755$108,309,692
92$157,402,738$31,434,623$18,879,783$118,605,016
93$173,308,629$32,825,732$19,363,068$129,921,868
94$190,832,222$34,280,306$19,857,844$142,363,292
95$210,138,375$35,801,306$20,364,348$156,042,791
96$231,408,754$37,391,836$20,882,819$171,085,394
97$254,843,555$39,055,143$21,413,501$187,628,830
98$280,663,385$40,794,633$21,956,641$205,824,820
99$309,111,350$42,613,870$22,512,488$225,840,502
100$340,455,348$44,516,589$23,081,296$247,860,000