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%13%
1 years$726,696$720,223$713,907$707,743$701,724$692,956
2 years$359,750$353,050$346,557$340,261$334,154$325,331
3 years$237,451$230,722$224,245$218,009$212,001$203,398
4 years$176,314$169,605$163,193$157,063$151,201$142,883
5 years$139,641$132,973$126,645$120,639$114,941$106,933
6 years$115,200$108,582$102,348$96,476$90,949$83,261
7 years$97,749$91,187$85,051$79,318$73,966$66,601
8 years$84,667$78,164$72,130$66,538$61,362$54,319
9 years$74,498$68,056$62,126$56,676$51,675$44,951
10 years$66,367$59,988$54,163$48,855$44,030$37,620
11 years$59,718$53,404$47,684$42,519$37,867$31,766
12 years$54,182$47,932$42,318$37,295$32,815$27,016
13 years$49,501$43,317$37,809$32,925$28,615$23,110
14 years$45,493$39,374$33,971$29,228$25,084$19,865
15 years$42,022$35,969$30,671$26,066$22,086$17,145
16 years$38,987$33,001$27,808$23,339$19,520$14,847
17 years$36,313$30,392$25,304$20,970$17,307$12,895
18 years$33,938$28,084$23,100$18,898$15,389$11,226
19 years$31,816$26,028$21,147$17,076$13,717$9,795
20 years$29,908$24,186$19,407$15,466$12,252$8,561
21 years$28,185$22,529$17,851$14,036$10,964$7,494
22 years$26,620$21,030$16,452$12,762$9,828$6,569
23 years$25,193$19,669$15,191$11,623$8,822$5,765
24 years$23,887$18,428$14,049$10,601$7,929$5,064
25 years$22,688$17,294$13,012$9,681$7,135$4,453
26 years$21,582$16,254$12,068$8,852$6,427$3,918
27 years$20,560$15,296$11,206$8,102$5,795$3,450
28 years$19,613$14,414$10,418$7,423$5,229$3,040
29 years$18,733$13,598$9,695$6,807$4,721$2,680
30 years$17,913$12,842$9,030$6,248$4,266$2,363
31 years$17,147$12,140$8,419$5,738$3,857$2,085
32 years$16,431$11,487$7,855$5,273$3,489$1,840
33 years$15,760$10,878$7,334$4,849$3,157$1,625
34 years$15,129$10,310$6,852$4,462$2,859$1,435
35 years$14,536$9,779$6,407$4,107$2,589$1,268
36 years$13,976$9,281$5,993$3,783$2,346$1,120
37 years$13,449$8,815$5,609$3,485$2,126$990
38 years$12,950$8,378$5,253$3,212$1,928$875
39 years$12,478$7,966$4,922$2,962$1,748$773
40 years$12,031$7,579$4,613$2,732$1,585$684
41 years$11,607$7,215$4,325$2,521$1,438$604
42 years$11,204$6,871$4,057$2,326$1,305$534
43 years$10,820$6,547$3,807$2,147$1,185$473
44 years$10,456$6,240$3,574$1,983$1,075$418
45 years$10,108$5,951$3,356$1,831$976$370
46 years$9,777$5,677$3,152$1,691$886$327
47 years$9,460$5,417$2,961$1,563$805$289
48 years$9,158$5,172$2,783$1,444$731$256
49 years$8,869$4,939$2,615$1,335$664$226
50 years$8,592$4,718$2,459$1,233$603$200

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 $3,857 every year, while hoping to spend $52,032 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: 36/35/29 Blend
61$8,800,000$8,800,000$8,800,000$8,800,000
62$9,701,578$9,235,178$9,098,778$9,966,293
63$10,635,778$9,632,341$9,348,226$10,561,263
64$11,663,522$10,047,220$9,604,286$11,198,169
65$12,794,297$10,480,629$9,867,125$11,884,787
66$14,038,555$10,933,420$10,136,914$12,625,629
67$15,407,814$11,406,484$10,413,827$13,425,644
68$16,914,763$11,900,754$10,698,042$14,290,261
69$18,573,384$12,417,206$10,989,742$15,225,441
70$20,399,084$12,956,864$11,289,113$16,237,728
71$22,408,839$13,520,799$11,596,347$17,334,307
72$24,621,354$14,110,131$11,911,638$18,523,068
73$27,057,240$14,726,036$12,235,186$19,812,681
74$29,739,209$15,369,741$12,567,194$21,212,667
75$32,692,285$16,042,536$12,907,872$22,733,491
76$35,944,045$16,745,767$13,257,433$24,386,650
77$39,524,874$17,480,846$13,616,094$26,184,783
78$43,468,256$18,249,253$13,984,078$28,141,783
79$47,811,087$19,052,534$14,361,613$30,272,925
80$52,594,021$19,892,312$14,748,930$32,595,002
81$57,861,860$20,770,284$15,146,269$35,126,483
82$63,663,971$21,688,230$15,553,870$37,887,678
83$70,054,754$22,648,011$15,971,982$40,900,928
84$77,094,154$23,651,578$16,400,859$44,190,805
85$84,848,228$24,700,976$16,840,758$47,784,345
86$93,389,768$25,798,344$17,291,943$51,711,289
87$102,798,985$26,945,924$17,754,685$56,004,365
88$113,164,272$28,146,064$18,229,257$60,699,583
89$124,583,031$29,401,225$18,715,941$65,836,572
90$137,162,598$30,713,983$19,215,022$71,458,948
91$151,021,252$32,087,037$19,726,794$77,614,712
92$166,289,333$33,523,215$20,251,555$84,356,700
93$183,110,471$35,025,478$20,789,608$91,743,073
94$201,642,943$36,596,931$21,341,265$99,837,856
95$222,061,167$38,240,824$21,906,840$108,711,530
96$244,557,344$39,960,563$22,486,658$118,441,695
97$269,343,279$41,759,717$23,081,047$129,113,786
98$296,652,374$43,642,023$23,690,342$140,821,872
99$326,741,832$45,611,398$24,314,885$153,669,532
100$359,895,090$47,671,947$24,955,024$167,770,820