Can I retire at age 62 with 8,800,000?

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 $8,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$726,696$720,223$713,907$707,743$701,724$678,176
2 years$359,750$353,050$346,557$340,261$334,154$310,663
3 years$237,451$230,722$224,245$218,009$212,001$189,303
4 years$176,314$169,605$163,193$157,063$151,201$129,470
5 years$139,641$132,973$126,645$120,639$114,941$94,235
6 years$115,200$108,582$102,348$96,476$90,949$71,285
7 years$97,749$91,187$85,051$79,318$73,966$55,340
8 years$84,667$78,164$72,130$66,538$61,362$43,761
9 years$74,498$68,056$62,126$56,676$51,675$35,078
10 years$66,367$59,988$54,163$48,855$44,030$28,410
11 years$59,718$53,404$47,684$42,519$37,867$23,194
12 years$54,182$47,932$42,318$37,295$32,815$19,055
13 years$49,501$43,317$37,809$32,925$28,615$15,734
14 years$45,493$39,374$33,971$29,228$25,084$13,044
15 years$42,022$35,969$30,671$26,066$22,086$10,850
16 years$38,987$33,001$27,808$23,339$19,520$9,049
17 years$36,313$30,392$25,304$20,970$17,307$7,564
18 years$33,938$28,084$23,100$18,898$15,389$6,334
19 years$31,816$26,028$21,147$17,076$13,717$5,312
20 years$29,908$24,186$19,407$15,466$12,252$4,461
21 years$28,185$22,529$17,851$14,036$10,964$3,750
22 years$26,620$21,030$16,452$12,762$9,828$3,155
23 years$25,193$19,669$15,191$11,623$8,822$2,657
24 years$23,887$18,428$14,049$10,601$7,929$2,238
25 years$22,688$17,294$13,012$9,681$7,135$1,887
26 years$21,582$16,254$12,068$8,852$6,427$1,591
27 years$20,560$15,296$11,206$8,102$5,795$1,342
28 years$19,613$14,414$10,418$7,423$5,229$1,133
29 years$18,733$13,598$9,695$6,807$4,721$956
30 years$17,913$12,842$9,030$6,248$4,266$807
31 years$17,147$12,140$8,419$5,738$3,857$682
32 years$16,431$11,487$7,855$5,273$3,489$576
33 years$15,760$10,878$7,334$4,849$3,157$486
34 years$15,129$10,310$6,852$4,462$2,859$411
35 years$14,536$9,779$6,407$4,107$2,589$347
36 years$13,976$9,281$5,993$3,783$2,346$293
37 years$13,449$8,815$5,609$3,485$2,126$248
38 years$12,950$8,378$5,253$3,212$1,928$209
39 years$12,478$7,966$4,922$2,962$1,748$177
40 years$12,031$7,579$4,613$2,732$1,585$150
41 years$11,607$7,215$4,325$2,521$1,438$126
42 years$11,204$6,871$4,057$2,326$1,305$107
43 years$10,820$6,547$3,807$2,147$1,185$90
44 years$10,456$6,240$3,574$1,983$1,075$76
45 years$10,108$5,951$3,356$1,831$976$65
46 years$9,777$5,677$3,152$1,691$886$55
47 years$9,460$5,417$2,961$1,563$805$46
48 years$9,158$5,172$2,783$1,444$731$39
49 years$8,869$4,939$2,615$1,335$664$33
50 years$8,592$4,718$2,459$1,233$603$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,800,000, adding $6,176 every year, while hoping to spend $58,867 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: 32/40/28 Blend
61$8,800,000$8,800,000$8,800,000$8,800,000
62$9,703,971$9,237,571$9,101,171$9,931,397
63$10,631,142$9,627,577$9,343,426$10,496,357
64$11,650,911$10,034,722$9,591,823$11,098,809
65$12,772,662$10,459,781$9,846,507$11,746,564
66$14,006,732$10,903,569$10,107,624$12,443,652
67$15,364,512$11,366,937$10,375,323$13,194,488
68$16,858,552$11,850,777$10,649,756$14,003,919
69$18,502,680$12,356,021$10,931,078$14,877,256
70$20,312,133$12,883,645$11,219,449$15,820,327
71$22,303,698$13,434,672$11,515,028$16,839,530
72$24,495,875$14,010,170$11,817,981$17,941,882
73$26,909,045$14,611,259$12,128,475$19,135,091
74$29,565,668$15,239,112$12,446,680$20,427,617
75$32,490,492$15,894,954$12,772,769$21,828,753
76$35,710,786$16,580,070$13,106,920$23,348,705
77$39,256,596$17,295,804$13,449,312$24,998,685
78$43,161,034$18,043,563$13,800,129$26,791,013
79$47,460,582$18,824,821$14,159,556$28,739,226
80$52,195,444$19,641,119$14,527,784$30,858,204
81$57,409,919$20,494,074$14,905,004$33,164,302
82$63,152,823$21,385,375$15,291,414$35,675,501
83$69,477,946$22,316,794$15,687,211$38,411,571
84$76,444,562$23,290,183$16,092,599$41,394,250
85$84,117,990$24,307,484$16,507,783$44,647,447
86$92,570,204$25,370,730$16,932,973$48,197,455
87$101,880,517$26,482,048$17,368,380$52,073,199
88$112,136,329$27,643,668$17,814,220$56,306,497
89$123,433,950$28,857,923$18,270,712$60,932,355
90$135,879,509$30,127,257$18,738,077$65,989,289
91$149,589,957$31,454,231$19,216,541$71,519,678
92$164,694,169$32,841,524$19,706,331$77,570,161
93$181,334,161$34,291,946$20,207,680$84,192,063
94$199,666,430$35,808,435$20,720,821$91,441,875
95$219,863,429$37,394,072$21,245,992$99,381,770
96$242,115,200$39,052,082$21,783,434$108,080,188
97$266,631,161$40,785,845$22,333,389$117,612,468
98$293,642,086$42,598,899$22,896,105$128,061,546
99$323,402,284$44,494,950$23,471,830$139,518,728
100$356,191,997$46,477,882$24,060,816$152,084,543