Can I retire at age 62 with 8,700,000?

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$718,438$712,038$705,795$699,701$693,750$681,416
2 years$355,662$349,038$342,619$336,395$330,357$317,973
3 years$234,753$228,100$221,697$215,531$209,592$197,544
4 years$174,310$167,678$161,339$155,278$149,483$137,863
5 years$138,054$131,462$125,205$119,269$113,635$102,476
6 years$113,891$107,348$101,185$95,380$89,915$79,231
7 years$96,638$90,151$84,085$78,417$73,125$62,918
8 years$83,705$77,276$71,311$65,782$60,664$50,932
9 years$73,651$67,283$61,420$56,032$51,088$41,825
10 years$65,612$59,306$53,547$48,300$43,530$34,727
11 years$59,040$52,797$47,142$42,035$37,437$29,086
12 years$53,566$47,388$41,837$36,871$32,442$24,531
13 years$48,939$42,825$37,379$32,551$28,290$20,806
14 years$44,976$38,926$33,585$28,895$24,799$17,730
15 years$41,544$35,560$30,323$25,770$21,835$15,166
16 years$38,544$32,626$27,492$23,074$19,298$13,015
17 years$35,900$30,047$25,017$20,732$17,111$11,200
18 years$33,553$27,765$22,837$18,683$15,214$9,660
19 years$31,454$25,732$20,906$16,882$13,561$8,348
20 years$29,569$23,911$19,187$15,290$12,113$7,226
21 years$27,864$22,273$17,648$13,877$10,839$6,264
22 years$26,317$20,791$16,265$12,617$9,716$5,436
23 years$24,907$19,445$15,018$11,491$8,722$4,723
24 years$23,616$18,219$13,889$10,480$7,839$4,107
25 years$22,430$17,097$12,864$9,571$7,054$3,575
26 years$21,337$16,069$11,931$8,751$6,354$3,113
27 years$20,327$15,123$11,079$8,010$5,729$2,713
28 years$19,390$14,250$10,299$7,339$5,169$2,365
29 years$18,520$13,443$9,584$6,730$4,668$2,063
30 years$17,709$12,696$8,928$6,177$4,217$1,800
31 years$16,953$12,002$8,323$5,673$3,813$1,571
32 years$16,244$11,356$7,765$5,213$3,449$1,372
33 years$15,580$10,754$7,251$4,794$3,121$1,198
34 years$14,957$10,193$6,775$4,411$2,826$1,047
35 years$14,370$9,668$6,334$4,061$2,560$915
36 years$13,818$9,176$5,925$3,740$2,319$799
37 years$13,296$8,715$5,546$3,446$2,102$698
38 years$12,803$8,282$5,193$3,176$1,906$611
39 years$12,336$7,876$4,866$2,928$1,728$534
40 years$11,894$7,493$4,561$2,701$1,567$467
41 years$11,475$7,133$4,276$2,492$1,422$408
42 years$11,076$6,793$4,011$2,300$1,290$357
43 years$10,697$6,472$3,764$2,123$1,171$312
44 years$10,337$6,169$3,533$1,960$1,063$273
45 years$9,993$5,883$3,318$1,810$965$239
46 years$9,665$5,612$3,116$1,672$876$209
47 years$9,353$5,356$2,927$1,545$796$183
48 years$9,054$5,113$2,751$1,428$723$160
49 years$8,768$4,883$2,586$1,319$656$140
50 years$8,494$4,664$2,431$1,219$596$122

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,700,000, adding $5,197 every year, while hoping to spend $59,599 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: 51/41/8 Blend
61$8,700,000$8,700,000$8,700,000$8,700,000
62$9,592,761$9,131,661$8,996,811$10,062,215
63$10,507,809$9,515,699$9,234,791$10,766,481
64$11,514,196$9,916,558$9,478,746$11,524,815
65$12,621,173$10,334,999$9,728,813$12,347,755
66$13,838,936$10,771,817$9,985,132$13,241,386
67$15,178,719$11,227,848$10,247,846$14,212,390
68$16,652,899$11,703,963$10,517,099$15,268,112
69$18,275,112$12,201,075$10,793,040$16,416,620
70$20,060,385$12,720,139$11,075,818$17,666,784
71$22,025,275$13,262,156$11,365,588$19,028,350
72$24,188,022$13,828,171$11,662,505$20,512,036
73$26,568,730$14,419,281$11,966,728$22,129,622
74$29,189,545$15,036,631$12,278,418$23,894,063
75$32,074,875$15,681,421$12,597,741$25,819,606
76$35,251,610$16,354,908$12,924,863$27,921,918
77$38,749,382$17,058,407$13,259,954$30,218,232
78$42,600,843$17,793,294$13,603,187$32,727,507
79$46,841,973$18,561,009$13,954,738$35,470,598
80$51,512,417$19,363,061$14,314,784$38,470,449
81$56,655,862$20,201,030$14,683,508$41,752,309
82$62,320,448$21,076,568$15,061,093$45,343,960
83$68,559,221$21,991,406$15,447,727$49,275,974
84$75,430,634$22,947,358$15,843,598$53,581,999
85$82,999,100$23,946,320$16,248,900$58,299,069
86$91,335,598$24,990,279$16,663,828$63,467,946
87$100,518,341$26,081,316$17,088,579$69,133,499
88$110,633,520$27,221,608$17,523,354$75,345,122
89$121,776,110$28,413,438$17,968,358$82,157,191
90$134,050,771$29,659,193$18,423,795$89,629,573
91$147,572,831$30,961,376$18,889,874$97,828,178
92$162,469,382$32,322,605$19,366,806$106,825,577
93$178,880,471$33,745,625$19,854,806$116,701,678
94$196,960,425$35,233,307$20,354,089$127,544,472
95$216,879,311$36,788,662$20,864,874$139,450,849
96$238,824,535$38,414,840$21,387,380$152,527,510
97$263,002,612$40,115,142$21,921,833$166,891,960
98$289,641,120$41,893,025$22,468,455$182,673,607
99$318,990,841$43,752,110$23,027,475$200,014,973
100$351,328,132$45,696,189$23,599,121$219,073,027