Can I retire at age 62 with 8,900,000?

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 $8,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$734,954$728,407$722,020$715,786$709,698$694,801
2 years$363,838$357,062$350,495$344,128$337,952$323,013
3 years$240,150$233,344$226,794$220,486$214,410$199,897
4 years$178,317$171,533$165,048$158,848$152,919$138,942
5 years$141,228$134,484$128,084$122,010$116,247$102,846
6 years$116,509$109,816$103,511$97,573$91,982$79,172
7 years$98,860$92,223$86,018$80,220$74,806$62,589
8 years$85,629$79,052$72,950$67,294$62,059$50,431
9 years$75,344$68,829$62,832$57,320$52,263$41,216
10 years$67,121$60,670$54,778$49,410$44,530$34,054
11 years$60,397$54,011$48,226$43,002$38,298$28,378
12 years$54,798$48,477$42,799$37,718$33,188$23,810
13 years$50,064$43,809$38,238$33,300$28,940$20,088
14 years$46,010$39,821$34,357$29,560$25,369$17,025
15 years$42,499$36,377$31,020$26,362$22,337$14,483
16 years$39,430$33,376$28,124$23,604$19,741$12,359
17 years$36,726$30,738$25,592$21,208$17,504$10,575
18 years$34,324$28,403$23,362$19,113$15,564$9,067
19 years$32,178$26,324$21,387$17,270$13,872$7,790
20 years$30,248$24,461$19,628$15,642$12,391$6,702
21 years$28,505$22,785$18,054$14,196$11,089$5,775
22 years$26,922$21,269$16,639$12,907$9,939$4,981
23 years$25,479$19,892$15,363$11,755$8,922$4,301
24 years$24,159$18,638$14,209$10,721$8,019$3,717
25 years$22,946$17,490$13,160$9,791$7,216$3,214
26 years$21,828$16,438$12,205$8,952$6,500$2,781
27 years$20,794$15,470$11,334$8,194$5,860$2,408
28 years$19,836$14,578$10,536$7,508$5,288$2,086
29 years$18,946$13,752$9,805$6,885$4,775$1,807
30 years$18,117$12,988$9,133$6,319$4,314$1,567
31 years$17,342$12,278$8,514$5,803$3,901$1,359
32 years$16,618$11,617$7,944$5,333$3,528$1,178
33 years$15,939$11,002$7,417$4,904$3,193$1,022
34 years$15,301$10,427$6,930$4,512$2,891$887
35 years$14,701$9,890$6,479$4,154$2,619$770
36 years$14,135$9,387$6,061$3,826$2,373$668
37 years$13,602$8,915$5,673$3,525$2,150$580
38 years$13,097$8,473$5,313$3,249$1,949$504
39 years$12,620$8,057$4,977$2,996$1,768$437
40 years$12,168$7,665$4,665$2,763$1,604$380
41 years$11,739$7,297$4,375$2,549$1,455$330
42 years$11,331$6,949$4,104$2,353$1,320$286
43 years$10,943$6,621$3,851$2,172$1,198$249
44 years$10,574$6,311$3,614$2,005$1,087$216
45 years$10,223$6,018$3,394$1,852$987$188
46 years$9,888$5,741$3,188$1,711$896$163
47 years$9,568$5,479$2,995$1,580$814$142
48 years$9,262$5,230$2,814$1,460$739$123
49 years$8,969$4,995$2,645$1,350$671$107
50 years$8,690$4,771$2,487$1,248$610$93

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,900,000, adding $5,525 every year, while hoping to spend $25,553 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: 32/47/21 Blend
61$8,900,000$8,900,000$8,900,000$8,900,000
62$9,813,499$9,341,799$9,203,849$10,063,619
63$10,787,288$9,772,359$9,484,990$10,682,375
64$11,859,546$10,223,160$9,774,692$11,345,684
65$13,040,292$10,695,167$10,073,216$12,059,621
66$14,340,563$11,189,391$10,380,830$12,828,636
67$15,772,521$11,706,892$10,697,809$13,657,599
68$17,349,569$12,248,781$11,024,436$14,551,848
69$19,086,477$12,816,222$11,361,006$15,517,227
70$20,999,517$13,410,436$11,707,820$16,560,142
71$23,106,623$14,032,703$12,065,187$17,687,616
72$25,427,556$14,684,364$12,433,429$18,907,348
73$27,984,093$15,366,823$12,812,874$20,227,782
74$30,800,228$16,081,555$13,203,863$21,658,180
75$33,902,405$16,830,105$13,606,746$23,208,704
76$37,319,761$17,614,091$14,021,883$24,890,506
77$41,084,405$18,435,210$14,449,645$26,715,827
78$45,231,722$19,295,242$14,890,415$28,698,104
79$49,800,700$20,196,052$15,344,587$30,852,091
80$54,834,308$21,139,595$15,812,567$33,193,994
81$60,379,893$22,127,921$16,294,773$35,741,610
82$66,489,631$23,163,178$16,791,637$38,514,491
83$73,221,018$24,247,619$17,303,602$41,534,121
84$80,637,414$25,383,604$17,831,125$44,824,104
85$88,808,641$26,573,611$18,374,677$48,410,387
86$97,811,637$27,820,233$18,934,744$52,321,487
87$107,731,192$29,126,192$19,511,826$56,588,752
88$118,660,738$30,494,340$20,106,437$61,246,650
89$130,703,239$31,927,668$20,719,108$66,333,078
90$143,972,156$33,429,311$21,350,385$71,889,714
91$158,592,524$35,002,555$22,000,831$77,962,391
92$174,702,129$36,650,848$22,671,026$84,601,523
93$192,452,809$38,377,802$23,361,568$91,862,567
94$212,011,886$40,187,205$24,073,071$99,806,527
95$233,563,749$42,083,028$24,806,170$108,500,522
96$257,311,591$44,069,437$25,561,517$118,018,402
97$283,479,331$46,150,796$26,339,784$128,441,427
98$312,313,721$48,331,684$27,141,666$139,859,020
99$344,086,683$50,616,899$27,967,874$152,369,592
100$379,097,872$53,011,475$28,819,145$166,081,455