Can I retire at age 62 with 16,800,000?

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 $16,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$1,387,328$1,374,971$1,362,914$1,351,146$1,339,656$1,320,181
2 years$686,796$674,005$661,609$649,590$637,931$618,352
3 years$453,316$440,470$428,105$416,198$404,730$385,654
4 years$336,599$323,792$311,551$299,847$288,657$270,232
5 years$266,587$253,857$241,776$230,312$219,432$201,712
6 years$219,927$207,293$195,391$184,182$173,629$156,634
7 years$186,612$174,085$162,371$151,426$141,207$124,943
8 years$161,637$149,223$137,703$127,028$117,145$101,609
9 years$142,223$129,925$118,604$108,199$98,653$83,838
10 years$126,700$114,523$103,402$93,269$84,057$69,952
11 years$114,008$101,953$91,033$81,172$72,292$58,883
12 years$103,439$91,507$80,790$71,199$62,647$49,918
13 years$94,503$82,696$72,180$62,858$54,629$42,563
14 years$86,849$75,168$64,854$55,798$47,888$36,464
15 years$80,223$68,668$58,555$49,762$42,164$31,364
16 years$74,430$63,001$53,088$44,557$37,265$27,067
17 years$69,325$58,022$48,308$40,034$33,041$23,424
18 years$64,791$53,615$44,099$36,078$29,379$20,320
19 years$60,740$49,690$40,371$32,600$26,186$17,664
20 years$57,098$46,174$37,050$29,526$23,390$15,382
21 years$53,807$43,009$34,079$26,796$20,931$13,414
22 years$50,820$40,148$31,409$24,364$18,762$11,714
23 years$48,096$37,549$29,001$22,189$16,842$10,241
24 years$45,603$35,181$26,821$20,237$15,138$8,961
25 years$43,313$33,016$24,841$18,482$13,622$7,849
26 years$41,203$31,029$23,039$16,899$12,270$6,879
27 years$39,252$29,202$21,394$15,468$11,062$6,033
28 years$37,444$27,517$19,888$14,172$9,982$5,294
29 years$35,763$25,959$18,508$12,996$9,013$4,648
30 years$34,198$24,516$17,239$11,927$8,144$4,083
31 years$32,736$23,176$16,072$10,954$7,363$3,587
32 years$31,368$21,929$14,995$10,067$6,660$3,153
33 years$30,086$20,767$14,001$9,258$6,028$2,772
34 years$28,882$19,682$13,082$8,518$5,457$2,438
35 years$27,750$18,668$12,231$7,841$4,943$2,144
36 years$26,682$17,719$11,441$7,221$4,479$1,887
37 years$25,675$16,829$10,709$6,654$4,059$1,660
38 years$24,723$15,994$10,028$6,133$3,680$1,461
39 years$23,822$15,208$9,396$5,655$3,337$1,286
40 years$22,968$14,469$8,807$5,216$3,027$1,132
41 years$22,158$13,774$8,258$4,812$2,746$997
42 years$21,389$13,117$7,746$4,441$2,492$878
43 years$20,657$12,498$7,269$4,100$2,261$773
44 years$19,961$11,913$6,823$3,785$2,053$680
45 years$19,297$11,361$6,406$3,496$1,863$599
46 years$18,664$10,838$6,017$3,229$1,692$528
47 years$18,060$10,342$5,653$2,983$1,536$465
48 years$17,483$9,873$5,312$2,757$1,395$409
49 years$16,931$9,428$4,993$2,548$1,267$361
50 years$16,403$9,006$4,694$2,355$1,151$318

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $16,800,000, adding $3,442 every year, while hoping to spend $38,106 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: 61/29/10 Blend
61$16,800,000$16,800,000$16,800,000$16,800,000
62$18,517,150$17,626,750$17,366,350$19,604,362
63$20,365,355$18,449,917$17,907,579$21,156,631
64$22,400,800$19,312,141$18,465,661$22,844,975
65$24,642,542$20,215,297$19,041,122$24,686,247
66$27,111,584$21,161,349$19,634,501$26,695,218
67$29,831,066$22,152,355$20,246,357$28,888,130
68$32,826,489$23,190,475$20,877,265$31,282,839
69$36,125,954$24,277,971$21,527,817$33,898,987
70$39,760,426$25,417,217$22,198,623$36,758,172
71$43,764,028$26,610,699$22,890,315$39,884,155
72$48,174,360$27,861,024$23,603,542$43,303,073
73$53,032,858$29,170,927$24,338,973$47,043,679
74$58,385,180$30,543,274$25,097,300$51,137,611
75$64,281,644$31,981,069$25,879,235$55,619,679
76$70,777,693$33,487,463$26,685,511$60,528,191
77$77,934,428$35,065,760$27,516,886$65,905,300
78$85,819,179$36,719,421$28,374,141$71,797,402
79$94,506,141$38,452,078$29,258,080$78,255,560
80$104,077,075$40,267,537$30,169,533$85,335,980
81$114,622,080$42,169,790$31,109,356$93,100,531
82$126,240,444$44,163,022$32,078,432$101,617,321
83$139,041,579$46,251,619$33,077,669$110,961,327
84$153,146,055$48,440,183$34,108,005$121,215,096
85$168,686,737$50,733,538$35,170,409$132,469,509
86$185,810,043$53,136,739$36,265,876$144,824,634
87$204,677,319$55,655,092$37,395,434$158,390,650
88$225,466,369$58,294,155$38,560,145$173,288,882
89$248,373,129$61,059,758$39,761,100$189,652,929
90$273,613,518$63,958,017$40,999,427$207,629,911
91$301,425,477$66,995,339$42,276,287$227,381,849
92$332,071,211$70,178,446$43,592,878$249,087,170
93$365,839,671$73,514,386$44,950,436$272,942,384
94$403,049,275$77,010,549$46,350,234$299,163,919
95$444,050,919$80,674,683$47,793,584$327,990,148
96$489,231,285$84,514,915$49,281,841$359,683,616
97$539,016,494$88,539,764$50,816,401$394,533,509
98$593,876,128$92,758,164$52,398,702$432,858,355
99$654,327,664$97,179,485$54,030,229$475,009,016
100$720,941,355$101,813,549$55,712,512$521,371,976