Can I retire at age 62 with 14,700,000?

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 $14,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$1,213,912$1,203,099$1,192,550$1,182,253$1,172,199$1,157,071
2 years$600,947$589,755$578,908$568,391$558,190$542,971
3 years$396,652$385,411$374,592$364,174$354,139$339,301
4 years$294,524$283,318$272,607$262,367$252,575$238,233
5 years$233,263$222,125$211,554$201,523$192,003$178,199
6 years$192,436$181,382$170,967$161,159$151,926$138,675
7 years$163,286$152,324$142,074$132,498$123,556$110,865
8 years$141,433$130,570$120,490$111,149$102,502$90,368
9 years$124,445$113,684$103,778$94,674$86,321$74,740
10 years$110,862$100,207$90,476$81,610$73,550$62,513
11 years$99,757$89,209$79,654$71,025$63,256$52,752
12 years$90,509$80,069$70,691$62,299$54,816$44,835
13 years$82,690$72,359$63,158$55,001$47,801$38,329
14 years$75,993$65,772$56,747$48,823$41,902$32,925
15 years$70,195$60,084$51,235$43,542$36,894$28,397
16 years$65,127$55,126$46,452$38,987$32,607$24,574
17 years$60,659$50,769$42,270$35,029$28,911$21,328
18 years$56,692$46,913$38,587$31,569$25,707$18,555
19 years$53,147$43,478$35,324$28,525$22,913$16,176
20 years$49,961$40,402$32,419$25,835$20,466$14,128
21 years$47,081$37,633$29,819$23,447$18,315$12,358
22 years$44,467$35,129$27,483$21,318$16,417$10,825
23 years$42,084$32,856$25,376$19,415$14,737$9,492
24 years$39,903$30,784$23,468$17,708$13,246$8,332
25 years$37,899$28,889$21,736$16,172$11,919$7,321
26 years$36,052$27,151$20,159$14,787$10,736$6,437
27 years$34,345$25,552$18,720$13,535$9,680$5,663
28 years$32,763$24,078$17,402$12,401$8,734$4,986
29 years$31,293$22,714$16,194$11,372$7,887$4,392
30 years$29,923$21,451$15,084$10,436$7,126$3,870
31 years$28,644$20,279$14,063$9,585$6,443$3,412
32 years$27,447$19,188$13,121$8,809$5,828$3,009
33 years$26,326$18,171$12,251$8,100$5,274$2,654
34 years$25,272$17,222$11,447$7,453$4,775$2,342
35 years$24,281$16,335$10,702$6,861$4,325$2,067
36 years$23,347$15,504$10,011$6,319$3,919$1,825
37 years$22,466$14,725$9,370$5,822$3,552$1,611
38 years$21,633$13,994$8,775$5,366$3,220$1,423
39 years$20,844$13,307$8,221$4,948$2,920$1,257
40 years$20,097$12,661$7,706$4,564$2,648$1,110
41 years$19,388$12,052$7,225$4,211$2,403$981
42 years$18,715$11,478$6,778$3,886$2,180$866
43 years$18,075$10,936$6,360$3,587$1,979$765
44 years$17,466$10,424$5,970$3,312$1,796$676
45 years$16,885$9,941$5,606$3,059$1,631$598
46 years$16,331$9,483$5,265$2,825$1,480$528
47 years$15,803$9,050$4,946$2,610$1,344$467
48 years$15,298$8,639$4,648$2,412$1,221$413
49 years$14,815$8,250$4,369$2,229$1,109$365
50 years$14,352$7,881$4,107$2,060$1,007$322

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $14,700,000, adding $2,957 every year, while hoping to spend $45,971 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: 68/12/20 Blend
61$14,700,000$14,700,000$14,700,000$14,700,000
62$16,202,450$15,423,350$15,195,500$17,223,619
63$17,806,187$16,130,182$15,655,637$18,613,740
64$19,571,965$16,870,107$16,129,647$20,128,189
65$21,516,262$17,644,699$16,617,947$21,783,735
66$23,657,239$18,455,607$17,120,966$23,594,283
67$26,014,904$19,304,559$17,639,146$25,575,135
68$28,611,307$20,193,365$18,172,939$27,743,137
69$31,470,744$21,123,923$18,722,816$30,116,830
70$34,619,987$22,098,223$19,289,258$32,716,627
71$38,088,539$23,118,349$19,872,761$35,565,002
72$41,908,908$24,186,487$20,473,838$38,686,695
73$46,116,919$25,304,926$21,093,013$42,108,949
74$50,752,045$26,476,068$21,730,829$45,861,760
75$55,857,787$27,702,429$22,387,846$49,978,156
76$61,482,080$28,986,646$23,064,637$54,494,509
77$67,677,744$30,331,484$23,761,794$59,450,872
78$74,502,988$31,739,841$24,479,928$64,891,353
79$82,021,953$33,214,753$25,219,666$70,864,532
80$90,305,322$34,759,406$25,981,654$77,423,908
81$99,430,984$36,377,136$26,766,559$84,628,408
82$109,484,771$38,071,442$27,575,065$92,542,932
83$120,561,266$39,845,992$28,407,879$101,238,965
84$132,764,700$41,704,629$29,265,727$110,795,247
85$146,209,928$43,651,385$30,149,358$121,298,510
86$161,023,521$45,690,484$31,059,542$132,844,290
87$177,344,957$47,826,354$31,997,073$145,537,830
88$195,327,935$50,063,638$32,962,768$159,495,059
89$215,141,832$52,407,204$33,957,468$174,843,688
90$236,973,296$54,862,153$34,982,040$191,724,404
91$261,028,009$57,433,836$36,037,375$210,292,196
92$287,532,631$60,127,859$37,124,392$230,717,811
93$316,736,937$62,950,102$38,244,037$253,189,355
94$348,916,176$65,906,728$39,397,284$277,914,065
95$384,373,667$69,004,199$40,585,134$305,120,259
96$423,443,665$72,249,289$41,808,621$335,059,481
97$466,494,516$75,649,102$43,068,807$368,008,867
98$513,932,131$79,211,082$44,366,786$404,273,755
99$566,203,821$82,943,037$45,703,686$444,190,558
100$623,802,517$86,853,153$47,080,666$488,129,929