Can I retire at age 62 with 16,600,000?

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 $16,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$1,370,812$1,358,602$1,346,689$1,335,061$1,323,707$1,299,640
2 years$678,620$665,981$653,733$641,856$630,337$606,175
3 years$447,919$435,226$423,008$411,244$399,912$376,409
4 years$332,592$319,937$307,842$296,278$285,220$262,557
5 years$263,413$250,835$238,898$227,570$216,820$195,061
6 years$217,309$204,825$193,065$181,989$171,562$150,733
7 years$184,391$172,012$160,438$149,624$139,526$119,631
8 years$159,713$147,446$136,064$125,515$115,750$96,785
9 years$140,529$128,378$117,192$106,911$97,479$79,432
10 years$125,192$113,159$102,171$92,159$83,057$65,912
11 years$112,651$100,739$89,949$80,206$71,431$55,169
12 years$102,207$90,418$79,828$70,351$61,901$46,500
13 years$93,377$81,711$71,321$62,109$53,979$39,414
14 years$85,816$74,273$64,082$55,134$47,318$33,563
15 years$79,268$67,850$57,857$49,170$41,662$28,691
16 years$73,544$62,251$52,456$44,026$36,821$24,604
17 years$68,499$57,331$47,733$39,557$32,648$21,157
18 years$64,020$52,976$43,574$35,649$29,029$18,235
19 years$60,017$49,098$39,890$32,212$25,874$15,746
20 years$56,418$45,624$36,609$29,174$23,111$13,620
21 years$53,167$42,497$33,673$26,477$20,682$11,797
22 years$50,215$39,670$31,035$24,074$18,539$10,231
23 years$47,523$37,102$28,656$21,925$16,641$8,882
24 years$45,060$34,762$26,501$19,996$14,958$7,718
25 years$42,797$32,623$24,546$18,262$13,460$6,712
26 years$40,712$30,660$22,765$16,698$12,124$5,841
27 years$38,785$28,855$21,139$15,284$10,931$5,085
28 years$36,998$27,190$19,652$14,003$9,863$4,430
29 years$35,337$25,650$18,288$12,841$8,906$3,861
30 years$33,790$24,224$17,034$11,785$8,047$3,366
31 years$32,346$22,900$15,880$10,824$7,275$2,936
32 years$30,995$21,668$14,817$9,947$6,581$2,561
33 years$29,728$20,520$13,834$9,147$5,956$2,235
34 years$28,538$19,448$12,926$8,416$5,392$1,951
35 years$27,419$18,446$12,085$7,748$4,884$1,703
36 years$26,365$17,508$11,305$7,135$4,425$1,487
37 years$25,369$16,629$10,582$6,574$4,011$1,298
38 years$24,429$15,803$9,909$6,060$3,636$1,134
39 years$23,538$15,027$9,284$5,587$3,297$991
40 years$22,695$14,297$8,702$5,154$2,991$865
41 years$21,894$13,610$8,159$4,755$2,713$756
42 years$21,134$12,961$7,654$4,388$2,462$660
43 years$20,411$12,350$7,182$4,051$2,234$577
44 years$19,723$11,772$6,742$3,740$2,028$504
45 years$19,067$11,225$6,330$3,454$1,841$441
46 years$18,442$10,709$5,945$3,191$1,672$385
47 years$17,845$10,219$5,586$2,948$1,518$336
48 years$17,275$9,756$5,249$2,724$1,379$294
49 years$16,729$9,316$4,934$2,517$1,252$257
50 years$16,207$8,899$4,638$2,327$1,137$225

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $16,600,000, adding $5,126 every year, while hoping to spend $23,876 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: 44/36/20 Blend
61$16,600,000$16,600,000$16,600,000$16,600,000
62$18,298,487$17,418,687$17,161,387$18,997,457
63$20,139,529$18,246,799$17,710,890$20,318,576
64$22,167,557$19,114,688$18,278,001$21,746,953
65$24,401,619$20,024,279$18,863,284$23,294,737
66$26,862,703$20,977,587$19,467,323$24,972,989
67$29,573,939$21,976,730$20,090,719$26,793,846
68$32,560,816$23,023,924$20,734,093$28,770,634
69$35,851,419$24,121,497$21,398,086$30,917,981
70$39,476,701$25,271,887$22,083,358$33,251,953
71$43,470,766$26,477,652$22,790,593$35,790,195
72$47,871,201$27,741,473$23,520,495$38,552,089
73$52,719,423$29,066,164$24,273,790$41,558,930
74$58,061,071$30,454,674$25,051,230$44,834,118
75$63,946,443$31,910,095$25,853,588$48,403,368
76$70,430,961$33,435,671$26,681,664$52,294,943
77$77,575,703$35,034,802$27,536,284$56,539,914
78$85,447,972$36,711,056$28,418,297$61,172,438
79$94,121,939$38,468,171$29,328,584$66,230,073
80$103,679,337$40,310,071$30,268,051$71,754,118
81$114,210,233$42,240,869$31,237,635$77,789,992
82$125,813,882$44,264,877$32,238,301$84,387,650
83$138,599,661$46,386,618$33,271,047$91,602,041
84$152,688,101$48,610,837$34,336,901$99,493,613
85$168,212,027$50,942,508$35,436,927$108,128,868
86$185,317,811$53,386,848$36,572,221$117,580,976
87$204,166,751$55,949,327$37,743,914$127,930,447
88$224,936,599$58,635,683$38,953,175$139,265,877
89$247,823,233$61,451,933$40,201,208$151,684,766
90$273,042,512$64,404,387$41,489,257$165,294,418
91$300,832,309$67,499,663$42,818,608$180,212,940
92$331,454,758$70,744,700$44,190,585$196,570,328
93$365,198,730$74,146,777$45,606,556$214,509,683
94$402,382,558$77,713,526$47,067,933$234,188,532
95$443,357,044$81,452,953$48,576,173$255,780,296
96$488,508,768$85,373,454$50,132,781$279,475,902
97$538,263,741$89,483,832$51,739,308$305,485,559
98$593,091,424$93,793,321$53,397,356$334,040,720
99$653,509,162$98,311,607$55,108,580$365,396,232
100$720,087,064$103,048,844$56,874,686$399,832,719