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%15.8%
1 years$701,922$695,670$689,570$683,616$677,802$661,685
2 years$347,486$341,015$334,743$328,661$322,763$306,620
3 years$229,356$222,857$216,601$210,577$204,774$189,109
4 years$170,303$163,823$157,630$151,709$146,047$130,980
5 years$134,880$128,439$122,327$116,527$111,022$96,597
6 years$111,273$104,880$98,859$93,187$87,848$74,078
7 years$94,417$88,078$82,152$76,614$71,444$58,331
8 years$81,781$75,500$69,671$64,270$59,270$46,809
9 years$71,958$65,736$60,008$54,744$49,914$38,095
10 years$64,104$57,943$52,316$47,190$42,529$31,339
11 years$57,683$51,583$46,058$41,069$36,576$26,000
12 years$52,335$46,298$40,876$36,023$31,696$21,715
13 years$47,814$41,840$36,520$31,803$27,640$18,236
14 years$43,942$38,032$32,813$28,231$24,229$15,382
15 years$40,589$34,743$29,626$25,177$21,333$13,021
16 years$37,658$31,876$26,860$22,544$18,854$11,057
17 years$35,075$29,356$24,442$20,255$16,717$9,412
18 years$32,781$27,126$22,312$18,254$14,864$8,030
19 years$30,731$25,141$20,426$16,494$13,249$6,862
20 years$28,889$23,362$18,746$14,939$11,834$5,873
21 years$27,224$21,761$17,242$13,558$10,590$5,033
22 years$25,712$20,313$15,892$12,327$9,493$4,318
23 years$24,334$18,998$14,673$11,226$8,521$3,708
24 years$23,073$17,800$13,570$10,239$7,659$3,187
25 years$21,914$16,704$12,569$9,351$6,892$2,741
26 years$20,847$15,699$11,657$8,550$6,208$2,358
27 years$19,860$14,775$10,824$7,826$5,597$2,030
28 years$18,945$13,922$10,063$7,170$5,050$1,749
29 years$18,094$13,134$9,364$6,575$4,560$1,507
30 years$17,302$12,404$8,722$6,035$4,121$1,298
31 years$16,563$11,726$8,132$5,542$3,725$1,119
32 years$15,871$11,095$7,587$5,093$3,370$965
33 years$15,222$10,507$7,084$4,684$3,050$832
34 years$14,613$9,958$6,619$4,310$2,761$718
35 years$14,040$9,445$6,188$3,967$2,501$620
36 years$13,500$8,965$5,789$3,654$2,266$535
37 years$12,990$8,515$5,418$3,366$2,054$461
38 years$12,509$8,092$5,074$3,103$1,862$398
39 years$12,053$7,695$4,754$2,861$1,688$344
40 years$11,621$7,321$4,456$2,639$1,531$297
41 years$11,211$6,969$4,178$2,435$1,389$256
42 years$10,822$6,637$3,919$2,247$1,261$221
43 years$10,452$6,324$3,678$2,074$1,144$191
44 years$10,099$6,028$3,452$1,915$1,039$165
45 years$9,763$5,748$3,241$1,769$943$142
46 years$9,443$5,483$3,044$1,634$856$123
47 years$9,138$5,233$2,860$1,509$777$106
48 years$8,846$4,995$2,688$1,395$706$92
49 years$8,566$4,770$2,526$1,289$641$79
50 years$8,299$4,557$2,375$1,191$582$68

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 $2,226 every year, while hoping to spend $30,734 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: 71/9/20 Blend
61$8,500,000$8,500,000$8,500,000$8,500,000
62$9,369,296$8,918,796$8,787,046$9,988,839
63$10,292,264$9,323,116$9,048,711$10,806,168
64$11,308,344$9,746,218$9,318,112$11,696,886
65$12,427,001$10,188,990$9,595,476$12,671,368
66$13,658,666$10,652,361$9,881,035$13,737,911
67$15,014,830$11,137,307$10,175,030$14,905,648
68$16,508,157$11,644,849$10,477,707$16,184,634
69$18,152,600$12,176,058$10,789,322$17,585,942
70$19,963,536$12,732,055$11,110,134$19,121,762
71$21,957,907$13,314,016$11,440,415$20,805,516
72$24,154,384$13,923,173$11,780,439$22,651,988
73$26,573,540$14,560,817$12,130,492$24,677,453
74$29,238,045$15,228,302$12,490,868$26,899,840
75$32,172,881$15,927,044$12,861,867$29,338,889
76$35,405,576$16,658,530$13,243,801$32,016,344
77$38,966,464$17,424,317$13,636,987$34,956,152
78$42,888,972$18,226,037$14,041,755$38,184,690
79$47,209,936$19,065,402$14,458,443$41,731,009
80$51,969,946$19,944,203$14,887,397$45,627,110
81$57,213,732$20,864,321$15,328,977$49,908,242
82$62,990,584$21,827,724$15,783,549$54,613,232
83$69,354,818$22,836,477$16,251,492$59,784,851
84$76,366,289$23,892,744$16,733,197$65,470,217
85$84,090,954$24,998,792$17,229,062$71,721,232
86$92,601,497$26,156,998$17,739,501$78,595,075
87$101,978,013$27,369,854$18,264,938$86,154,738
88$112,308,766$28,639,972$18,805,809$94,469,616
89$123,691,018$29,970,089$19,362,562$103,616,162
90$136,231,953$31,363,075$19,935,659$113,678,604
91$150,049,684$32,821,937$20,525,575$124,749,739
92$165,274,369$34,349,829$21,132,798$136,931,803
93$182,049,439$35,950,055$21,757,832$150,337,437
94$200,532,955$37,626,081$22,401,192$165,090,743
95$220,899,095$39,381,538$23,063,411$181,328,457
96$243,339,803$41,220,233$23,745,035$199,201,231
97$268,066,596$43,146,158$24,446,627$218,875,053
98$295,312,565$45,163,496$25,168,766$240,532,814
99$325,334,573$47,276,634$25,912,046$264,376,026
100$358,415,680$49,490,169$26,677,080$290,626,721