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

Use the below retirement simulation to view the chances of a successful retirement.
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%14%
1 years$701,922$695,670$689,570$683,616$677,802$666,573
2 years$347,486$341,015$334,743$328,661$322,763$311,483
3 years$229,356$222,857$216,601$210,577$204,774$193,794
4 years$170,303$163,823$157,630$151,709$146,047$135,451
5 years$134,880$128,439$122,327$116,527$111,022$100,842
6 years$111,273$104,880$98,859$93,187$87,848$78,094
7 years$94,417$88,078$82,152$76,614$71,444$62,120
8 years$81,781$75,500$69,671$64,270$59,270$50,373
9 years$71,958$65,736$60,008$54,744$49,914$41,440
10 years$64,104$57,943$52,316$47,190$42,529$34,471
11 years$57,683$51,583$46,058$41,069$36,576$28,925
12 years$52,335$46,298$40,876$36,023$31,696$24,443
13 years$47,814$41,840$36,520$31,803$27,640$20,773
14 years$43,942$38,032$32,813$28,231$24,229$17,737
15 years$40,589$34,743$29,626$25,177$21,333$15,204
16 years$37,658$31,876$26,860$22,544$18,854$13,075
17 years$35,075$29,356$24,442$20,255$16,717$11,275
18 years$32,781$27,126$22,312$18,254$14,864$9,746
19 years$30,731$25,141$20,426$16,494$13,249$8,441
20 years$28,889$23,362$18,746$14,939$11,834$7,323
21 years$27,224$21,761$17,242$13,558$10,590$6,362
22 years$25,712$20,313$15,892$12,327$9,493$5,535
23 years$24,334$18,998$14,673$11,226$8,521$4,820
24 years$23,073$17,800$13,570$10,239$7,659$4,201
25 years$21,914$16,704$12,569$9,351$6,892$3,665
26 years$20,847$15,699$11,657$8,550$6,208$3,200
27 years$19,860$14,775$10,824$7,826$5,597$2,795
28 years$18,945$13,922$10,063$7,170$5,050$2,443
29 years$18,094$13,134$9,364$6,575$4,560$2,136
30 years$17,302$12,404$8,722$6,035$4,121$1,868
31 years$16,563$11,726$8,132$5,542$3,725$1,635
32 years$15,871$11,095$7,587$5,093$3,370$1,431
33 years$15,222$10,507$7,084$4,684$3,050$1,253
34 years$14,613$9,958$6,619$4,310$2,761$1,097
35 years$14,040$9,445$6,188$3,967$2,501$961
36 years$13,500$8,965$5,789$3,654$2,266$842
37 years$12,990$8,515$5,418$3,366$2,054$738
38 years$12,509$8,092$5,074$3,103$1,862$647
39 years$12,053$7,695$4,754$2,861$1,688$567
40 years$11,621$7,321$4,456$2,639$1,531$497
41 years$11,211$6,969$4,178$2,435$1,389$435
42 years$10,822$6,637$3,919$2,247$1,261$382
43 years$10,452$6,324$3,678$2,074$1,144$335
44 years$10,099$6,028$3,452$1,915$1,039$293
45 years$9,763$5,748$3,241$1,769$943$257
46 years$9,443$5,483$3,044$1,634$856$226
47 years$9,138$5,233$2,860$1,509$777$198
48 years$8,846$4,995$2,688$1,395$706$174
49 years$8,566$4,770$2,526$1,289$641$152
50 years$8,299$4,557$2,375$1,191$582$133

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 $5,159 every year, while hoping to spend $40,872 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: 62/8/30 Blend
61$8,500,000$8,500,000$8,500,000$8,500,000
62$9,372,322$8,921,822$8,790,072$9,877,215
63$10,284,811$9,315,503$9,041,051$10,615,287
64$11,289,004$9,727,106$9,299,069$11,416,038
65$12,394,212$10,157,463$9,564,318$12,289,625
66$13,610,694$10,607,451$9,836,995$13,243,193
67$14,949,754$11,077,985$10,117,303$14,284,605
68$16,423,846$11,570,024$10,405,450$15,422,516
69$18,046,697$12,084,574$10,701,651$16,666,454
70$19,833,428$12,622,686$11,006,125$18,026,908
71$21,800,704$13,185,464$11,319,096$19,515,426
72$23,966,887$13,774,062$11,640,796$21,144,723
73$26,352,209$14,389,691$11,971,463$22,928,797
74$28,978,966$15,033,618$12,311,338$24,883,063
75$31,871,725$15,707,170$12,660,673$27,024,497
76$35,057,559$16,411,739$13,019,723$29,371,790
77$38,566,297$17,148,781$13,388,751$31,945,528
78$42,430,812$17,919,824$13,768,027$34,768,383
79$46,687,326$18,726,467$14,157,828$37,865,324
80$51,375,755$19,570,385$14,558,436$41,263,850
81$56,540,083$20,453,335$14,970,144$44,994,251
82$62,228,778$21,377,155$15,393,251$49,089,891
83$68,495,250$22,343,773$15,828,062$53,587,518
84$75,398,356$23,355,207$16,274,892$58,527,612
85$83,002,951$24,413,575$16,734,063$63,954,762
86$91,380,504$25,521,093$17,205,907$69,918,089
87$100,609,772$26,680,083$17,690,762$76,471,702
88$110,777,542$27,892,980$18,188,975$83,675,209
89$121,979,450$29,162,335$18,700,905$91,594,279
90$134,320,885$30,490,820$19,226,916$100,301,253
91$147,917,981$31,881,236$19,767,383$109,875,833
92$162,898,716$33,336,518$20,322,692$120,405,824
93$179,404,119$34,859,742$20,893,236$131,987,962
94$197,589,600$36,454,130$21,479,420$144,728,825
95$217,626,417$38,123,060$22,081,659$158,745,837
96$239,703,294$39,870,072$22,700,377$174,168,371
97$264,028,200$41,698,876$23,336,010$191,138,965
98$290,830,315$43,613,359$23,989,004$209,814,670
99$320,362,189$45,617,596$24,659,818$230,368,522
100$352,902,131$47,715,856$25,348,920$252,991,177