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%15.6%
1 years$693,664$687,485$681,457$675,573$669,828$654,432
2 years$343,398$337,003$330,804$324,795$318,966$303,540
3 years$226,658$220,235$214,052$208,099$202,365$187,391
4 years$168,299$161,896$155,775$149,924$144,328$129,921
5 years$133,293$126,928$120,888$115,156$109,716$95,917
6 years$109,964$103,647$97,695$92,091$86,815$73,637
7 years$93,306$87,042$81,185$75,713$70,604$58,049
8 years$80,819$74,611$68,852$63,514$58,572$46,637
9 years$71,111$64,963$59,302$54,100$49,326$38,001
10 years$63,350$57,261$51,701$46,634$42,029$31,301
11 years$57,004$50,976$45,517$40,586$36,146$26,001
12 years$51,719$45,754$40,395$35,599$31,323$21,745
13 years$47,251$41,348$36,090$31,429$27,315$18,285
14 years$43,425$37,584$32,427$27,899$23,944$15,444
15 years$40,111$34,334$29,277$24,881$21,082$13,093
16 years$37,215$31,501$26,544$22,278$18,632$11,133
17 years$34,662$29,011$24,154$20,017$16,521$9,491
18 years$32,396$26,807$22,050$18,039$14,689$8,108
19 years$30,370$24,845$20,185$16,300$13,093$6,940
20 years$28,549$23,087$18,525$14,763$11,695$5,949
21 years$26,904$21,505$17,040$13,398$10,466$5,106
22 years$25,410$20,074$15,705$12,182$9,381$4,387
23 years$24,048$18,775$14,500$11,094$8,421$3,773
24 years$22,802$17,591$13,410$10,119$7,569$3,248
25 years$21,656$16,508$12,421$9,241$6,811$2,798
26 years$20,601$15,515$11,520$8,449$6,135$2,411
27 years$19,626$14,601$10,697$7,734$5,531$2,079
28 years$18,722$13,759$9,944$7,086$4,991$1,794
29 years$17,882$12,980$9,254$6,498$4,507$1,548
30 years$17,099$12,258$8,620$5,964$4,072$1,336
31 years$16,368$11,588$8,036$5,477$3,682$1,154
32 years$15,684$10,964$7,498$5,034$3,330$997
33 years$15,043$10,383$7,001$4,629$3,014$861
34 years$14,441$9,841$6,541$4,259$2,729$744
35 years$13,875$9,334$6,115$3,921$2,471$643
36 years$13,341$8,860$5,721$3,611$2,239$556
37 years$12,837$8,415$5,354$3,327$2,030$480
38 years$12,361$7,997$5,014$3,066$1,840$415
39 years$11,911$7,604$4,698$2,827$1,669$359
40 years$11,484$7,235$4,403$2,608$1,513$310
41 years$11,079$6,887$4,129$2,406$1,373$268
42 years$10,694$6,559$3,873$2,221$1,246$232
43 years$10,329$6,249$3,634$2,050$1,131$201
44 years$9,980$5,957$3,411$1,893$1,026$174
45 years$9,649$5,680$3,203$1,748$932$150
46 years$9,332$5,419$3,009$1,615$846$130
47 years$9,030$5,171$2,826$1,492$768$112
48 years$8,741$4,937$2,656$1,378$698$97
49 years$8,465$4,714$2,497$1,274$634$84
50 years$8,201$4,503$2,347$1,177$575$73

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 $5,817 every year, while hoping to spend $38,014 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: 33/46/21 Blend
61$8,400,000$8,400,000$8,400,000$8,400,000
62$9,262,800$8,817,600$8,687,400$9,508,445
63$10,167,159$9,209,216$8,937,982$10,083,617
64$11,162,489$9,618,747$9,195,683$10,699,204
65$12,258,028$10,047,031$9,460,704$11,361,874
66$13,463,956$10,494,945$9,733,247$12,075,795
67$14,791,491$10,963,408$10,013,522$12,845,537
68$16,252,992$11,453,384$10,301,744$13,676,105
69$17,862,078$11,965,881$10,598,133$14,572,986
70$19,633,757$12,501,956$10,902,917$15,542,198
71$21,584,563$13,062,715$11,216,328$16,590,338
72$23,732,719$13,649,319$11,538,606$17,724,645
73$26,098,303$14,262,982$11,869,996$18,953,060
74$28,703,439$14,904,977$12,210,750$20,284,298
75$31,572,507$15,576,637$12,561,127$21,727,923
76$34,732,371$16,279,361$12,921,393$23,294,439
77$38,212,634$17,014,612$13,291,821$24,995,376
78$42,045,918$17,783,922$13,672,692$26,843,398
79$46,268,168$18,588,901$14,064,293$28,852,415
80$50,918,994$19,431,230$14,466,920$31,037,709
81$56,042,046$20,312,675$14,880,877$33,416,070
82$61,685,423$21,235,085$15,306,475$36,005,950
83$67,902,128$22,200,395$15,744,033$38,827,629
84$74,750,568$23,210,637$16,193,881$41,903,397
85$82,295,104$24,267,937$16,656,355$45,257,760
86$90,606,663$25,374,524$17,131,801$48,917,662
87$99,763,401$26,532,734$17,620,574$52,912,729
88$109,851,444$27,745,014$18,123,039$57,275,542
89$120,965,700$29,013,929$18,639,571$62,041,936
90$133,210,758$30,342,168$19,170,552$67,251,324
91$146,701,868$31,732,547$19,716,378$72,947,064
92$161,566,035$33,188,018$20,277,453$79,176,854
93$177,943,215$34,711,675$20,854,193$85,993,176
94$195,987,637$36,306,761$21,447,022$93,453,772
95$215,869,257$37,976,674$22,056,379$101,622,185
96$237,775,366$39,724,976$22,682,712$110,568,339
97$261,912,352$41,555,399$23,326,482$120,369,193
98$288,507,654$43,471,855$23,988,161$131,109,446
99$317,811,904$45,478,445$24,668,234$142,882,328
100$350,101,297$47,579,467$25,367,198$155,790,461