Can I retire at age 62 with 9,400,000?

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 $9,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$776,243$769,329$762,583$755,999$749,569$725,866
2 years$384,279$377,122$370,186$363,461$356,938$333,272
3 years$253,641$246,453$239,535$232,873$226,456$203,570
4 years$188,335$181,169$174,320$167,772$161,510$139,579
5 years$149,162$142,039$135,279$128,865$122,778$101,861
6 years$123,055$115,985$109,326$103,054$97,150$77,265
7 years$104,414$97,404$90,850$84,727$79,009$60,154
8 years$90,440$83,494$77,048$71,075$65,545$47,709
9 years$79,577$72,696$66,362$60,540$55,199$38,359
10 years$70,892$64,078$57,856$52,186$47,032$31,165
11 years$63,790$57,045$50,935$45,418$40,449$25,526
12 years$57,876$51,201$45,204$39,837$35,052$21,040
13 years$52,876$46,270$40,386$35,170$30,566$17,432
14 years$48,594$42,058$36,287$31,220$26,794$14,502
15 years$44,887$38,421$32,763$27,843$23,592$12,106
16 years$41,646$35,251$29,704$24,930$20,850$10,133
17 years$38,789$32,465$27,030$22,400$18,487$8,501
18 years$36,252$29,999$24,675$20,187$16,438$7,146
19 years$33,985$27,802$22,588$18,240$14,652$6,016
20 years$31,948$25,835$20,730$16,520$13,087$5,071
21 years$30,106$24,065$19,068$14,993$11,712$4,279
22 years$28,435$22,463$17,574$13,632$10,498$3,615
23 years$26,911$21,010$16,227$12,415$9,423$3,056
24 years$25,516$19,685$15,007$11,323$8,470$2,585
25 years$24,235$18,473$13,899$10,341$7,622$2,187
26 years$23,054$17,362$12,891$9,455$6,865$1,852
27 years$21,962$16,339$11,970$8,655$6,190$1,569
28 years$20,951$15,397$11,128$7,930$5,585$1,329
29 years$20,010$14,525$10,356$7,272$5,043$1,127
30 years$19,134$13,717$9,646$6,674$4,557$955
31 years$18,317$12,967$8,993$6,129$4,120$810
32 years$17,551$12,270$8,390$5,633$3,727$687
33 years$16,834$11,620$7,834$5,180$3,373$583
34 years$16,160$11,013$7,320$4,766$3,054$494
35 years$15,527$10,445$6,843$4,387$2,766$419
36 years$14,929$9,914$6,402$4,041$2,506$356
37 years$14,366$9,416$5,992$3,723$2,271$302
38 years$13,833$8,949$5,611$3,431$2,059$256
39 years$13,329$8,509$5,257$3,164$1,867$217
40 years$12,851$8,096$4,927$2,918$1,694$185
41 years$12,398$7,707$4,620$2,692$1,536$157
42 years$11,968$7,340$4,334$2,485$1,394$133
43 years$11,558$6,993$4,067$2,294$1,265$113
44 years$11,169$6,666$3,818$2,118$1,149$96
45 years$10,797$6,357$3,585$1,956$1,043$81
46 years$10,443$6,064$3,367$1,807$947$69
47 years$10,105$5,787$3,163$1,669$860$59
48 years$9,782$5,524$2,972$1,542$781$50
49 years$9,473$5,275$2,794$1,425$709$42
50 years$9,178$5,039$2,627$1,318$644$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $9,400,000, adding $2,723 every year, while hoping to spend $29,337 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: 64/18/18 Blend
61$9,400,000$9,400,000$9,400,000$9,400,000
62$10,361,609$9,863,409$9,717,709$10,977,805
63$11,387,279$10,315,501$10,012,038$11,844,033
64$12,516,583$10,788,763$10,315,243$12,786,355
65$13,760,063$11,284,201$10,627,592$13,815,092
66$15,129,331$11,802,869$10,949,359$14,938,687
67$16,637,186$12,345,872$11,280,825$16,166,426
68$18,297,729$12,914,370$11,622,282$17,508,528
69$20,126,499$13,509,576$11,974,030$18,976,237
70$22,140,619$14,132,762$12,336,378$20,581,928
71$24,358,958$14,785,263$12,709,642$22,339,219
72$26,802,307$15,468,476$13,094,150$24,263,100
73$29,493,578$16,183,867$13,490,240$26,370,068
74$32,458,017$16,932,972$13,898,258$28,678,285
75$35,723,447$17,717,399$14,318,561$31,207,743
76$39,320,524$18,538,837$14,751,518$33,980,450
77$43,283,031$19,399,053$15,197,508$37,020,639
78$47,648,196$20,299,903$15,656,920$40,354,987
79$52,457,042$21,243,328$16,130,157$44,012,869
80$57,754,776$22,231,367$16,617,633$48,026,631
81$63,591,212$23,266,153$17,119,773$52,431,887
82$70,021,247$24,349,925$17,637,016$57,267,861
83$77,105,372$25,485,030$18,169,814$62,577,742
84$84,910,250$26,673,927$18,718,633$68,409,097
85$93,509,340$27,919,193$19,283,952$74,814,312
86$102,983,592$29,223,533$19,866,263$81,851,081
87$113,422,211$30,589,778$20,466,075$89,582,948
88$124,923,499$32,020,900$21,083,912$98,079,903
89$137,595,783$33,520,012$21,720,310$107,419,034
90$151,558,438$35,090,378$22,375,826$117,685,254
91$166,943,013$36,735,420$23,051,030$128,972,094
92$183,894,471$38,458,726$23,746,510$141,382,581
93$202,572,561$40,264,057$24,462,872$155,030,205
94$223,153,322$42,155,357$25,200,738$170,039,985
95$245,830,750$44,136,758$25,960,752$186,549,640
96$270,818,623$46,212,595$26,743,573$204,710,888
97$298,352,522$48,387,412$27,549,883$224,690,862
98$328,692,057$50,665,973$28,380,382$246,673,691
99$362,123,313$53,053,272$29,235,791$270,862,222
100$398,961,554$55,554,546$30,116,853$297,479,932