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

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 $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$718,438$712,038$705,795$699,701$693,750$687,937
2 years$355,662$349,038$342,619$336,395$330,357$324,499
3 years$234,753$228,100$221,697$215,531$209,592$203,870
4 years$174,310$167,678$161,339$155,278$149,483$143,940
5 years$138,054$131,462$125,205$119,269$113,635$108,288
6 years$113,891$107,348$101,185$95,380$89,915$84,772
7 years$96,638$90,151$84,085$78,417$73,125$68,187
8 years$83,705$77,276$71,311$65,782$60,664$55,931
9 years$73,651$67,283$61,420$56,032$51,088$46,559
10 years$65,612$59,306$53,547$48,300$43,530$39,202
11 years$59,040$52,797$47,142$42,035$37,437$33,307
12 years$53,566$47,388$41,837$36,871$32,442$28,506
13 years$48,939$42,825$37,379$32,551$28,290$24,544
14 years$44,976$38,926$33,585$28,895$24,799$21,237
15 years$41,544$35,560$30,323$25,770$21,835$18,453
16 years$38,544$32,626$27,492$23,074$19,298$16,091
17 years$35,900$30,047$25,017$20,732$17,111$14,073
18 years$33,553$27,765$22,837$18,683$15,214$12,340
19 years$31,454$25,732$20,906$16,882$13,561$10,844
20 years$29,569$23,911$19,187$15,290$12,113$9,548
21 years$27,864$22,273$17,648$13,877$10,839$8,420
22 years$26,317$20,791$16,265$12,617$9,716$7,437
23 years$24,907$19,445$15,018$11,491$8,722$6,577
24 years$23,616$18,219$13,889$10,480$7,839$5,822
25 years$22,430$17,097$12,864$9,571$7,054$5,160
26 years$21,337$16,069$11,931$8,751$6,354$4,576
27 years$20,327$15,123$11,079$8,010$5,729$4,062
28 years$19,390$14,250$10,299$7,339$5,169$3,607
29 years$18,520$13,443$9,584$6,730$4,668$3,206
30 years$17,709$12,696$8,928$6,177$4,217$2,851
31 years$16,953$12,002$8,323$5,673$3,813$2,536
32 years$16,244$11,356$7,765$5,213$3,449$2,257
33 years$15,580$10,754$7,251$4,794$3,121$2,009
34 years$14,957$10,193$6,775$4,411$2,826$1,789
35 years$14,370$9,668$6,334$4,061$2,560$1,594
36 years$13,818$9,176$5,925$3,740$2,319$1,420
37 years$13,296$8,715$5,546$3,446$2,102$1,266
38 years$12,803$8,282$5,193$3,176$1,906$1,128
39 years$12,336$7,876$4,866$2,928$1,728$1,006
40 years$11,894$7,493$4,561$2,701$1,567$897
41 years$11,475$7,133$4,276$2,492$1,422$800
42 years$11,076$6,793$4,011$2,300$1,290$713
43 years$10,697$6,472$3,764$2,123$1,171$636
44 years$10,337$6,169$3,533$1,960$1,063$568
45 years$9,993$5,883$3,318$1,810$965$506
46 years$9,665$5,612$3,116$1,672$876$452
47 years$9,353$5,356$2,927$1,545$796$403
48 years$9,054$5,113$2,751$1,428$723$360
49 years$8,768$4,883$2,586$1,319$656$321
50 years$8,494$4,664$2,431$1,219$596$287

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 $4,274 every year, while hoping to spend $45,220 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: 76/17/7 Blend
61$8,700,000$8,700,000$8,700,000$8,700,000
62$9,591,809$9,130,709$8,995,859$10,312,027
63$10,522,059$9,530,000$9,249,106$11,185,290
64$11,545,680$9,947,340$9,509,322$12,135,976
65$12,672,147$10,383,567$9,776,692$13,176,688
66$13,911,901$10,839,557$10,051,406$14,316,339
67$15,276,446$11,316,227$10,333,659$15,564,744
68$16,778,459$11,814,537$10,623,652$16,932,705
69$18,431,908$12,335,496$10,921,591$18,432,114
70$20,252,183$12,880,155$11,227,684$20,076,065
71$22,256,243$13,449,620$11,542,149$21,878,974
72$24,462,774$14,045,046$11,865,206$23,856,714
73$26,892,368$14,667,645$12,197,081$26,026,762
74$29,567,715$15,318,684$12,538,008$28,408,364
75$32,513,814$15,999,493$12,888,224$31,022,715
76$35,758,217$16,711,462$13,247,974$33,893,153
77$39,331,281$17,456,049$13,617,507$37,045,381
78$43,266,458$18,234,782$13,997,079$40,507,708
79$47,600,610$19,049,259$14,386,954$44,311,311
80$52,374,355$19,901,156$14,787,401$48,490,527
81$57,632,455$20,792,228$15,198,694$53,083,177
82$63,424,233$21,724,314$15,621,117$58,130,919
83$69,804,039$22,699,340$16,054,960$63,679,639
84$76,831,768$23,719,325$16,500,518$69,779,878
85$84,573,418$24,786,382$16,958,095$76,487,313
86$93,101,718$25,902,726$17,428,002$83,863,273
87$102,496,812$27,070,678$17,910,559$91,975,316
88$112,847,015$28,292,669$18,406,090$100,897,866
89$124,249,647$29,571,247$18,914,932$110,712,910
90$136,811,954$30,909,080$19,437,424$121,510,768
91$150,652,114$32,308,966$19,973,919$133,390,942
92$165,900,360$33,773,835$20,524,775$146,463,053
93$182,700,200$35,306,757$21,090,359$160,847,867
94$201,209,782$36,910,949$21,671,047$176,678,436
95$221,603,376$38,589,783$22,267,224$194,101,346
96$244,073,029$40,346,790$22,879,284$213,278,097
97$268,830,369$42,185,674$23,507,631$234,386,622
98$296,108,607$44,110,312$24,152,677$257,622,962
99$326,164,737$46,124,770$24,814,844$283,203,111
100$359,281,964$48,233,308$25,494,566$311,365,049