Can I retire at age 62 with 8,500,000?

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 $8,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$701,922$695,670$689,570$683,616$677,802$651,939
2 years$347,486$341,015$334,743$328,661$322,763$297,011
3 years$229,356$222,857$216,601$210,577$204,774$179,943
4 years$170,303$163,823$157,630$151,709$146,047$122,326
5 years$134,880$128,439$122,327$116,527$111,022$88,473
6 years$111,273$104,880$98,859$93,187$87,848$66,486
7 years$94,417$88,078$82,152$76,614$71,444$51,262
8 years$81,781$75,500$69,671$64,270$59,270$40,249
9 years$71,958$65,736$60,008$54,744$49,914$32,026
10 years$64,104$57,943$52,316$47,190$42,529$25,742
11 years$57,683$51,583$46,058$41,069$36,576$20,852
12 years$52,335$46,298$40,876$36,023$31,696$16,995
13 years$47,814$41,840$36,520$31,803$27,640$13,918
14 years$43,942$38,032$32,813$28,231$24,229$11,442
15 years$40,589$34,743$29,626$25,177$21,333$9,437
16 years$37,658$31,876$26,860$22,544$18,854$7,802
17 years$35,075$29,356$24,442$20,255$16,717$6,464
18 years$32,781$27,126$22,312$18,254$14,864$5,365
19 years$30,731$25,141$20,426$16,494$13,249$4,459
20 years$28,889$23,362$18,746$14,939$11,834$3,710
21 years$27,224$21,761$17,242$13,558$10,590$3,090
22 years$25,712$20,313$15,892$12,327$9,493$2,575
23 years$24,334$18,998$14,673$11,226$8,521$2,148
24 years$23,073$17,800$13,570$10,239$7,659$1,793
25 years$21,914$16,704$12,569$9,351$6,892$1,497
26 years$20,847$15,699$11,657$8,550$6,208$1,250
27 years$19,860$14,775$10,824$7,826$5,597$1,044
28 years$18,945$13,922$10,063$7,170$5,050$873
29 years$18,094$13,134$9,364$6,575$4,560$730
30 years$17,302$12,404$8,722$6,035$4,121$610
31 years$16,563$11,726$8,132$5,542$3,725$510
32 years$15,871$11,095$7,587$5,093$3,370$427
33 years$15,222$10,507$7,084$4,684$3,050$357
34 years$14,613$9,958$6,619$4,310$2,761$298
35 years$14,040$9,445$6,188$3,967$2,501$250
36 years$13,500$8,965$5,789$3,654$2,266$209
37 years$12,990$8,515$5,418$3,366$2,054$175
38 years$12,509$8,092$5,074$3,103$1,862$146
39 years$12,053$7,695$4,754$2,861$1,688$122
40 years$11,621$7,321$4,456$2,639$1,531$102
41 years$11,211$6,969$4,178$2,435$1,389$86
42 years$10,822$6,637$3,919$2,247$1,261$72
43 years$10,452$6,324$3,678$2,074$1,144$60
44 years$10,099$6,028$3,452$1,915$1,039$50
45 years$9,763$5,748$3,241$1,769$943$42
46 years$9,443$5,483$3,044$1,634$856$35
47 years$9,138$5,233$2,860$1,509$777$29
48 years$8,846$4,995$2,688$1,395$706$25
49 years$8,566$4,770$2,526$1,289$641$21
50 years$8,299$4,557$2,375$1,191$582$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,500,000, adding $4,688 every year, while hoping to spend $37,358 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: 40/43/17 Blend
61$8,500,000$8,500,000$8,500,000$8,500,000
62$9,371,836$8,921,336$8,789,586$9,699,212
63$10,288,014$9,318,732$9,044,288$10,330,079
64$11,296,391$9,734,350$9,306,271$11,008,158
65$12,406,331$10,169,041$9,575,739$11,740,927
66$13,628,152$10,623,699$9,852,902$12,533,374
67$14,973,225$11,099,262$10,137,975$13,390,973
68$16,454,078$11,596,710$10,431,182$14,319,728
69$18,084,516$12,117,070$10,732,748$15,326,226
70$19,879,750$12,661,420$11,042,909$16,417,701
71$21,856,542$13,230,888$11,361,904$17,602,092
72$24,033,363$13,826,655$11,689,981$18,888,117
73$26,430,564$14,449,959$12,027,394$20,285,351
74$29,070,572$15,102,098$12,374,402$21,804,310
75$31,978,100$15,784,430$12,731,274$23,456,547
76$35,180,380$16,498,380$13,098,285$25,254,758
77$38,707,417$17,245,440$13,475,717$27,212,892
78$42,592,280$18,027,173$13,863,859$29,346,281
79$46,871,405$18,845,217$14,263,011$31,671,778
80$51,584,945$19,701,288$14,673,478$34,207,911
81$56,777,144$20,597,186$15,095,574$36,975,048
82$62,496,759$21,534,795$15,529,623$39,995,590
83$68,797,518$22,516,089$15,975,954$43,294,167
84$75,738,626$23,543,139$16,434,910$46,897,872
85$83,385,325$24,618,112$16,906,839$50,836,504
86$91,809,511$25,743,282$17,392,101$55,142,841
87$101,090,409$26,921,030$17,891,063$59,852,945
88$111,315,322$28,153,852$18,404,106$65,006,493
89$122,580,458$29,444,364$18,931,616$70,647,140
90$134,991,833$30,795,307$19,473,994$76,822,927
91$148,666,276$32,209,552$20,031,649$83,586,718
92$163,732,528$33,690,113$20,605,001$90,996,695
93$180,332,460$35,240,142$21,194,483$99,116,894
94$198,622,410$36,862,949$21,800,537$108,017,798
95$218,774,661$38,561,998$22,423,620$117,776,994
96$240,979,063$40,340,923$23,064,198$128,479,889
97$265,444,830$42,203,531$23,722,751$140,220,506
98$292,402,512$44,153,812$24,399,772$153,102,357
99$322,106,169$46,195,950$25,095,766$167,239,409
100$354,835,775$48,334,329$25,811,251$182,757,144