Can I retire at age 62 with 8,600,000?

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 $8,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$710,180$703,854$697,682$691,658$685,776$669,742
2 years$351,574$345,026$338,681$332,528$326,560$310,497
3 years$232,055$225,479$219,149$213,054$207,183$191,593
4 years$172,307$165,751$159,484$153,493$147,765$132,768
5 years$136,467$129,951$123,766$117,898$112,328$97,966
6 years$112,582$106,114$100,022$94,284$88,882$75,169
7 years$95,528$89,115$83,118$77,516$72,285$59,224
8 years$82,743$76,388$70,491$65,026$59,967$47,553
9 years$72,804$66,509$60,714$55,388$50,501$38,724
10 years$64,858$58,625$52,932$47,745$43,029$31,876
11 years$58,361$52,190$46,600$41,552$37,007$26,462
12 years$52,951$46,843$41,357$36,447$32,069$22,116
13 years$48,376$42,332$36,949$32,177$27,965$18,585
14 years$44,459$38,479$33,199$28,563$24,514$15,687
15 years$41,066$35,151$29,974$25,473$21,584$13,289
16 years$38,101$32,251$27,176$22,809$19,076$11,292
17 years$35,488$29,702$24,729$20,493$16,914$9,620
18 years$33,167$27,446$22,575$18,469$15,039$8,212
19 years$31,093$25,436$20,666$16,688$13,405$7,024
20 years$29,229$23,637$18,966$15,114$11,973$6,016
21 years$27,544$22,017$17,445$13,717$10,715$5,160
22 years$26,015$20,552$16,078$12,472$9,604$4,430
23 years$24,621$19,222$14,846$11,359$8,621$3,807
24 years$23,344$18,009$13,730$10,360$7,749$3,274
25 years$22,172$16,901$12,716$9,461$6,973$2,818
26 years$21,092$15,884$11,794$8,651$6,281$2,427
27 years$20,093$14,949$10,952$7,918$5,663$2,091
28 years$19,168$14,086$10,181$7,255$5,110$1,802
29 years$18,307$13,289$9,474$6,653$4,614$1,554
30 years$17,506$12,550$8,825$6,106$4,169$1,341
31 years$16,758$11,864$8,227$5,607$3,769$1,157
32 years$16,058$11,225$7,676$5,153$3,409$998
33 years$15,401$10,631$7,167$4,739$3,086$862
34 years$14,785$10,076$6,697$4,360$2,794$744
35 years$14,205$9,556$6,261$4,014$2,530$642
36 years$13,659$9,070$5,857$3,697$2,293$555
37 years$13,143$8,615$5,482$3,406$2,078$479
38 years$12,656$8,187$5,134$3,139$1,884$414
39 years$12,195$7,785$4,810$2,895$1,708$358
40 years$11,758$7,407$4,508$2,670$1,549$309
41 years$11,343$7,051$4,227$2,463$1,406$267
42 years$10,949$6,715$3,965$2,273$1,276$231
43 years$10,575$6,398$3,721$2,099$1,158$199
44 years$10,218$6,099$3,493$1,938$1,051$172
45 years$9,878$5,816$3,279$1,790$954$149
46 years$9,554$5,548$3,080$1,653$866$129
47 years$9,245$5,294$2,894$1,527$786$111
48 years$8,950$5,054$2,719$1,411$714$96
49 years$8,667$4,826$2,556$1,304$649$83
50 years$8,397$4,610$2,403$1,205$589$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,600,000, adding $2,070 every year, while hoping to spend $40,626 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: 39/34/27 Blend
61$8,600,000$8,600,000$8,600,000$8,600,000
62$9,479,335$9,023,535$8,890,235$9,772,999
63$10,403,002$9,422,463$9,144,832$10,386,268
64$11,419,520$9,839,576$9,406,597$11,045,048
65$12,538,320$10,275,723$9,675,726$11,756,633
66$13,769,788$10,731,793$9,952,422$12,525,861
67$15,125,371$11,208,716$10,236,893$13,358,041
68$16,617,682$11,707,467$10,529,353$14,259,001
69$18,260,620$12,229,066$10,830,020$15,235,140
70$20,069,496$12,774,584$11,139,119$16,293,484
71$22,061,187$13,345,140$11,456,881$17,441,748
72$24,254,284$13,941,909$11,783,543$18,688,408
73$26,669,278$14,566,119$12,119,349$20,042,778
74$29,328,744$15,219,059$12,464,547$21,515,088
75$32,257,561$15,902,077$12,819,394$23,116,584
76$35,483,141$16,616,588$13,184,153$24,859,625
77$39,035,693$17,364,072$13,559,093$26,757,797
78$42,948,503$18,146,081$13,944,492$28,826,037
79$47,258,252$18,964,241$14,340,634$31,080,769
80$52,005,359$19,820,253$14,747,810$33,540,053
81$57,234,363$20,715,904$15,166,320$36,223,751
82$62,994,346$21,653,062$15,596,470$39,153,711
83$69,339,394$22,633,685$16,038,575$42,353,963
84$76,329,104$23,659,828$16,492,960$45,850,944
85$84,029,153$24,733,640$16,959,954$49,673,740
86$92,511,913$25,857,375$17,439,899$53,854,355
87$101,857,136$27,033,394$17,933,144$58,428,003
88$112,152,705$28,264,172$18,440,046$63,433,438
89$123,495,466$29,552,301$18,960,972$68,913,310
90$135,992,139$30,900,499$19,496,300$74,914,558
91$149,760,327$32,311,614$20,046,416$81,488,851
92$164,929,625$33,788,627$20,611,715$88,693,060
93$181,642,845$35,334,668$21,192,606$96,589,792
94$200,057,360$36,953,012$21,789,503$105,247,969
95$220,346,595$38,647,094$22,402,836$114,743,468
96$242,701,658$40,420,512$23,033,041$125,159,830
97$267,333,149$42,277,038$23,680,570$136,589,039
98$294,473,143$44,220,626$24,345,882$149,132,374
99$324,377,385$46,255,418$25,029,450$162,901,358
100$357,327,701$48,385,757$25,731,760$178,018,800