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%15%
1 years$801,017$793,882$786,921$780,126$773,492$757,565
2 years$396,543$389,158$382,000$375,061$368,329$352,356
3 years$261,736$254,319$247,180$240,305$233,683$218,161
4 years$194,346$186,951$179,883$173,126$166,665$151,714
5 years$153,922$146,572$139,597$132,978$126,696$112,359
6 years$126,982$119,687$112,815$106,343$100,250$86,542
7 years$107,746$100,513$93,750$87,431$81,530$68,454
8 years$93,326$86,158$79,507$73,343$67,637$55,189
9 years$82,117$75,016$68,480$62,472$56,960$45,131
10 years$73,154$66,123$59,702$53,852$48,533$37,312
11 years$65,826$58,866$52,561$46,867$41,740$31,112
12 years$59,723$52,835$46,646$41,109$36,171$26,121
13 years$54,564$47,747$41,675$36,293$31,542$22,053
14 years$50,145$43,401$37,446$32,217$27,649$18,703
15 years$46,319$39,647$33,808$28,732$24,345$15,922
16 years$42,975$36,376$30,652$25,726$21,516$13,597
17 years$40,027$33,501$27,892$23,115$19,078$11,641
18 years$37,409$30,956$25,462$20,831$16,963$9,989
19 years$35,070$28,690$23,309$18,823$15,119$8,588
20 years$32,967$26,660$21,392$17,047$13,505$7,395
21 years$31,067$24,833$19,677$15,472$12,085$6,376
22 years$29,342$23,180$18,135$14,067$10,833$5,504
23 years$27,770$21,680$16,744$12,811$9,724$4,756
24 years$26,330$20,313$15,486$11,685$8,740$4,113
25 years$25,008$19,063$14,343$10,671$7,865$3,560
26 years$23,790$17,916$13,302$9,757$7,084$3,083
27 years$22,663$16,861$12,352$8,931$6,387$2,672
28 years$21,619$15,888$11,483$8,183$5,763$2,316
29 years$20,649$14,988$10,686$7,504$5,204$2,009
30 years$19,745$14,155$9,954$6,887$4,702$1,743
31 years$18,901$13,381$9,280$6,325$4,251$1,512
32 years$18,111$12,661$8,658$5,813$3,846$1,313
33 years$17,371$11,990$8,084$5,345$3,480$1,140
34 years$16,676$11,364$7,553$4,918$3,151$990
35 years$16,022$10,779$7,062$4,527$2,854$860
36 years$15,406$10,231$6,606$4,170$2,586$747
37 years$14,824$9,717$6,183$3,842$2,344$649
38 years$14,275$9,234$5,790$3,541$2,125$564
39 years$13,754$8,781$5,425$3,265$1,927$490
40 years$13,261$8,354$5,085$3,011$1,748$426
41 years$12,794$7,953$4,768$2,778$1,586$370
42 years$12,350$7,574$4,472$2,564$1,439$322
43 years$11,927$7,216$4,197$2,367$1,306$280
44 years$11,525$6,879$3,939$2,186$1,185$243
45 years$11,142$6,559$3,699$2,018$1,076$211
46 years$10,776$6,257$3,474$1,864$977$184
47 years$10,428$5,971$3,264$1,723$887$160
48 years$10,094$5,701$3,067$1,592$806$139
49 years$9,776$5,444$2,883$1,471$732$121
50 years$9,471$5,200$2,710$1,360$665$105

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 $6,802 every year, while hoping to spend $56,574 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: 50/28/22 Blend
61$9,700,000$9,700,000$9,700,000$9,700,000
62$10,696,416$10,182,316$10,031,966$11,164,938
63$11,727,256$10,621,055$10,307,843$11,929,368
64$12,861,346$11,079,397$10,591,065$12,753,409
65$14,109,157$11,558,241$10,881,820$13,647,849
66$15,482,228$12,058,531$11,180,297$14,619,366
67$16,993,270$12,581,254$11,486,692$15,675,299
68$18,656,292$13,127,444$11,801,205$16,823,717
69$20,486,729$13,698,184$12,124,040$18,073,488
70$22,501,586$14,294,605$12,455,406$19,434,362
71$24,719,602$14,917,896$12,795,517$20,917,063
72$27,161,426$15,569,297$13,144,591$22,533,382
73$29,849,810$16,250,111$13,502,853$24,296,289
74$32,809,823$16,961,699$13,870,531$26,220,049
75$36,069,090$17,705,488$14,247,859$28,320,356
76$39,658,052$18,482,971$14,635,077$30,614,476
77$43,610,249$19,295,713$15,032,429$33,121,406
78$47,962,645$20,145,353$15,440,165$35,862,050
79$52,755,965$21,033,605$15,858,540$38,859,411
80$58,035,089$21,962,268$16,287,818$42,138,804
81$63,849,471$22,933,223$16,728,263$45,728,094
82$70,253,607$23,948,440$17,180,149$49,657,947
83$77,307,547$25,009,985$17,643,756$53,962,121
84$85,077,463$26,120,021$18,119,368$58,677,778
85$93,636,273$27,280,811$18,607,276$63,845,828
86$103,064,331$28,494,728$19,107,777$69,511,309
87$113,450,181$29,764,258$19,621,176$75,723,809
88$124,891,396$31,092,004$20,147,782$82,537,926
89$137,495,498$32,480,692$20,687,913$90,013,778
90$151,380,971$33,933,178$21,241,891$98,217,562
91$166,678,383$35,452,456$21,810,046$107,222,176
92$183,531,611$37,041,660$22,392,716$117,107,893
93$202,099,208$38,704,074$22,990,245$127,963,119
94$222,555,893$40,443,139$23,602,983$139,885,215
95$245,094,199$42,262,458$24,231,289$152,981,408
96$269,926,298$44,165,809$24,875,527$167,369,796
97$297,285,994$46,157,147$25,536,071$183,180,453
98$327,430,936$48,240,618$26,213,300$200,556,647
99$360,645,049$50,420,566$26,907,603$219,656,185
100$397,241,209$52,701,539$27,619,373$240,652,890