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%14.5%
1 years$710,180$703,854$697,682$691,658$685,776$673,031
2 years$351,574$345,026$338,681$332,528$326,560$313,768
3 years$232,055$225,479$219,149$213,054$207,183$194,741
4 years$172,307$165,751$159,484$153,493$147,765$135,770
5 years$136,467$129,951$123,766$117,898$112,328$100,815
6 years$112,582$106,114$100,022$94,284$88,882$77,862
7 years$95,528$89,115$83,118$77,516$72,285$61,761
8 years$82,743$76,388$70,491$65,026$59,967$49,938
9 years$72,804$66,509$60,714$55,388$50,501$40,959
10 years$64,858$58,625$52,932$47,745$43,029$33,967
11 years$58,361$52,190$46,600$41,552$37,007$28,413
12 years$52,951$46,843$41,357$36,447$32,069$23,933
13 years$48,376$42,332$36,949$32,177$27,965$20,272
14 years$44,459$38,479$33,199$28,563$24,514$17,251
15 years$41,066$35,151$29,974$25,473$21,584$14,737
16 years$38,101$32,251$27,176$22,809$19,076$12,629
17 years$35,488$29,702$24,729$20,493$16,914$10,852
18 years$33,167$27,446$22,575$18,469$15,039$9,346
19 years$31,093$25,436$20,666$16,688$13,405$8,065
20 years$29,229$23,637$18,966$15,114$11,973$6,970
21 years$27,544$22,017$17,445$13,717$10,715$6,033
22 years$26,015$20,552$16,078$12,472$9,604$5,228
23 years$24,621$19,222$14,846$11,359$8,621$4,535
24 years$23,344$18,009$13,730$10,360$7,749$3,938
25 years$22,172$16,901$12,716$9,461$6,973$3,422
26 years$21,092$15,884$11,794$8,651$6,281$2,975
27 years$20,093$14,949$10,952$7,918$5,663$2,588
28 years$19,168$14,086$10,181$7,255$5,110$2,253
29 years$18,307$13,289$9,474$6,653$4,614$1,962
30 years$17,506$12,550$8,825$6,106$4,169$1,709
31 years$16,758$11,864$8,227$5,607$3,769$1,489
32 years$16,058$11,225$7,676$5,153$3,409$1,298
33 years$15,401$10,631$7,167$4,739$3,086$1,132
34 years$14,785$10,076$6,697$4,360$2,794$987
35 years$14,205$9,556$6,261$4,014$2,530$861
36 years$13,659$9,070$5,857$3,697$2,293$751
37 years$13,143$8,615$5,482$3,406$2,078$655
38 years$12,656$8,187$5,134$3,139$1,884$572
39 years$12,195$7,785$4,810$2,895$1,708$499
40 years$11,758$7,407$4,508$2,670$1,549$436
41 years$11,343$7,051$4,227$2,463$1,406$380
42 years$10,949$6,715$3,965$2,273$1,276$332
43 years$10,575$6,398$3,721$2,099$1,158$290
44 years$10,218$6,099$3,493$1,938$1,051$253
45 years$9,878$5,816$3,279$1,790$954$221
46 years$9,554$5,548$3,080$1,653$866$193
47 years$9,245$5,294$2,894$1,527$786$168
48 years$8,950$5,054$2,719$1,411$714$147
49 years$8,667$4,826$2,556$1,304$649$128
50 years$8,397$4,610$2,403$1,205$589$112

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 $5,061 every year, while hoping to spend $57,140 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: 59/14/27 Blend
61$8,600,000$8,600,000$8,600,000$8,600,000
62$9,482,420$9,026,620$8,893,320$9,972,169
63$10,388,831$9,408,128$9,130,450$10,688,720
64$11,385,780$9,806,415$9,373,609$11,463,407
65$12,482,442$10,222,242$9,622,937$12,307,227
66$13,688,927$10,656,408$9,878,581$13,226,912
67$15,016,371$11,109,745$10,140,687$14,229,866
68$16,477,046$11,583,128$10,409,406$15,324,238
69$18,084,474$12,077,470$10,684,890$16,518,998
70$19,853,553$12,593,729$10,967,296$17,824,014
71$21,800,698$13,132,904$11,256,783$19,250,154
72$23,943,998$13,696,045$11,553,514$20,809,375
73$26,303,383$14,284,248$11,857,654$22,514,845
74$28,900,813$14,898,662$12,169,371$24,381,057
75$31,760,488$15,540,488$12,488,836$26,423,969
76$34,909,071$16,210,985$12,816,225$28,661,151
77$38,375,943$16,911,470$13,151,716$31,111,950
78$42,193,480$17,643,323$13,495,489$33,797,670
79$46,397,356$18,407,987$13,847,729$36,741,767
80$51,026,882$19,206,974$14,208,624$39,970,077
81$56,125,375$20,041,867$14,578,364$43,511,048
82$61,740,567$20,914,323$14,957,143$47,396,014
83$67,925,057$21,826,076$15,345,159$51,659,482
84$74,736,803$22,778,945$15,742,613$56,339,460
85$82,239,675$23,774,831$16,149,708$61,477,810
86$90,504,051$24,815,726$16,566,652$67,120,643
87$99,607,484$25,903,717$16,993,655$73,318,746
88$109,635,437$27,040,989$17,430,932$80,128,066
89$120,682,082$28,229,828$17,878,699$87,610,231
90$132,851,196$29,472,631$18,337,177$95,833,126
91$146,257,135$30,771,907$18,806,590$104,871,535
92$161,025,916$32,130,284$19,287,164$114,807,841
93$177,296,405$33,550,513$19,779,129$125,732,801
94$195,221,629$35,035,478$20,282,720$137,746,399
95$214,970,216$36,588,198$20,798,172$150,958,783
96$236,727,992$38,211,834$21,325,725$165,491,305
97$260,699,732$39,909,699$21,865,622$181,477,661
98$287,111,093$41,685,262$22,418,108$199,065,145
99$316,210,742$43,542,157$22,983,432$218,416,041
100$348,272,706$45,484,192$23,561,846$239,709,144