Can I retire at age 62 with 9,700,000?

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 $9,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$801,017$793,882$786,921$780,126$773,492$753,265
2 years$396,543$389,158$382,000$375,061$368,329$348,089
3 years$261,736$254,319$247,180$240,305$233,683$214,063
4 years$194,346$186,951$179,883$173,126$166,665$147,815
5 years$153,922$146,572$139,597$132,978$126,696$108,669
6 years$126,982$119,687$112,815$106,343$100,250$83,063
7 years$107,746$100,513$93,750$87,431$81,530$65,185
8 years$93,326$86,158$79,507$73,343$67,637$52,126
9 years$82,117$75,016$68,480$62,472$56,960$42,269
10 years$73,154$66,123$59,702$53,852$48,533$34,643
11 years$65,826$58,866$52,561$46,867$41,740$28,631
12 years$59,723$52,835$46,646$41,109$36,171$23,819
13 years$54,564$47,747$41,675$36,293$31,542$19,922
14 years$50,145$43,401$37,446$32,217$27,649$16,735
15 years$46,319$39,647$33,808$28,732$24,345$14,108
16 years$42,975$36,376$30,652$25,726$21,516$11,928
17 years$40,027$33,501$27,892$23,115$19,078$10,110
18 years$37,409$30,956$25,462$20,831$16,963$8,587
19 years$35,070$28,690$23,309$18,823$15,119$7,305
20 years$32,967$26,660$21,392$17,047$13,505$6,224
21 years$31,067$24,833$19,677$15,472$12,085$5,310
22 years$29,342$23,180$18,135$14,067$10,833$4,534
23 years$27,770$21,680$16,744$12,811$9,724$3,875
24 years$26,330$20,313$15,486$11,685$8,740$3,315
25 years$25,008$19,063$14,343$10,671$7,865$2,837
26 years$23,790$17,916$13,302$9,757$7,084$2,429
27 years$22,663$16,861$12,352$8,931$6,387$2,081
28 years$21,619$15,888$11,483$8,183$5,763$1,784
29 years$20,649$14,988$10,686$7,504$5,204$1,529
30 years$19,745$14,155$9,954$6,887$4,702$1,312
31 years$18,901$13,381$9,280$6,325$4,251$1,125
32 years$18,111$12,661$8,658$5,813$3,846$965
33 years$17,371$11,990$8,084$5,345$3,480$828
34 years$16,676$11,364$7,553$4,918$3,151$711
35 years$16,022$10,779$7,062$4,527$2,854$610
36 years$15,406$10,231$6,606$4,170$2,586$524
37 years$14,824$9,717$6,183$3,842$2,344$450
38 years$14,275$9,234$5,790$3,541$2,125$386
39 years$13,754$8,781$5,425$3,265$1,927$332
40 years$13,261$8,354$5,085$3,011$1,748$285
41 years$12,794$7,953$4,768$2,778$1,586$245
42 years$12,350$7,574$4,472$2,564$1,439$210
43 years$11,927$7,216$4,197$2,367$1,306$180
44 years$11,525$6,879$3,939$2,186$1,185$155
45 years$11,142$6,559$3,699$2,018$1,076$133
46 years$10,776$6,257$3,474$1,864$977$114
47 years$10,428$5,971$3,264$1,723$887$98
48 years$10,094$5,701$3,067$1,592$806$84
49 years$9,776$5,444$2,883$1,471$732$73
50 years$9,471$5,200$2,710$1,360$665$62

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $9,700,000, adding $5,950 every year, while hoping to spend $22,463 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: 61/9/30 Blend
61$9,700,000$9,700,000$9,700,000$9,700,000
62$10,695,537$10,181,437$10,031,087$11,260,652
63$11,762,582$10,656,427$10,343,228$12,121,867
64$12,937,712$11,153,939$10,665,073$13,058,628
65$14,231,929$11,675,052$10,996,923$14,080,775
66$15,657,354$12,220,899$11,339,089$15,196,658
67$17,227,347$12,792,666$11,691,892$16,415,469
68$18,956,627$13,391,597$12,055,660$17,747,322
69$20,861,414$14,018,996$12,430,736$19,203,351
70$22,959,583$14,676,232$12,817,470$20,795,808
71$25,270,830$15,364,736$13,216,225$22,538,181
72$27,816,859$16,086,012$13,627,373$24,445,319
73$30,621,587$16,841,636$14,051,298$26,533,566
74$33,711,371$17,633,258$14,488,399$28,820,920
75$37,115,254$18,462,611$14,939,084$31,327,193
76$40,865,241$19,331,510$15,403,774$34,074,203
77$44,996,600$20,241,859$15,882,905$37,085,972
78$49,548,196$21,195,652$16,376,925$40,388,953
79$54,562,855$22,194,982$16,886,295$44,012,277
80$60,087,773$23,242,043$17,411,492$47,988,022
81$66,174,957$24,339,134$17,953,009$52,351,520
82$72,881,718$25,488,667$18,511,350$57,141,681
83$80,271,211$26,693,170$19,087,038$62,401,360
84$88,413,033$27,955,294$19,680,612$68,177,758
85$97,383,877$29,277,817$20,292,627$74,522,864
86$107,268,257$30,663,655$20,923,655$81,493,943
87$118,159,308$32,115,863$21,574,286$89,154,074
88$130,159,661$33,637,644$22,245,128$97,572,739
89$143,382,416$35,232,357$22,936,809$106,826,477
90$157,952,205$36,903,525$23,649,975$116,999,602
91$174,006,373$38,654,841$24,385,292$128,184,995
92$191,696,272$40,490,178$25,143,449$140,484,977
93$211,188,690$42,413,595$25,925,153$154,012,269
94$232,667,426$44,429,351$26,731,135$168,891,054
95$256,335,024$46,541,910$27,562,148$185,258,140
96$282,414,686$48,755,952$28,418,970$203,264,251
97$311,152,378$51,076,388$29,302,400$223,075,443
98$342,819,154$53,508,365$30,213,263$244,874,665
99$377,713,712$56,057,279$31,152,412$268,863,482
100$416,165,215$58,728,790$32,120,722$295,263,970