Can I retire at age 62 with 4,900,000?

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 $4,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$404,637$401,033$397,517$394,084$390,733$386,331
2 years$200,316$196,585$192,969$189,464$186,063$181,632
3 years$132,217$128,470$124,864$121,391$118,046$113,723
4 years$98,175$94,439$90,869$87,456$84,192$80,009
5 years$77,754$74,042$70,518$67,174$64,001$59,973
6 years$64,145$60,461$56,989$53,720$50,642$46,772
7 years$54,429$50,775$47,358$44,166$41,185$37,475
8 years$47,144$43,523$40,163$37,050$34,167$30,617
9 years$41,482$37,895$34,593$31,558$28,774$25,382
10 years$36,954$33,402$30,159$27,203$24,517$21,281
11 years$33,252$29,736$26,551$23,675$21,085$18,003
12 years$30,170$26,690$23,564$20,766$18,272$15,340
13 years$27,563$24,120$21,053$18,334$15,934$13,148
14 years$25,331$21,924$18,916$16,274$13,967$11,325
15 years$23,398$20,028$17,078$14,514$12,298$9,794
16 years$21,709$18,375$15,484$12,996$10,869$8,499
17 years$20,220$16,923$14,090$11,676$9,637$7,397
18 years$18,897$15,638$12,862$10,523$8,569$6,454
19 years$17,716$14,493$11,775$9,508$7,638$5,643
20 years$16,654$13,467$10,806$8,612$6,822$4,943
21 years$15,694$12,544$9,940$7,816$6,105$4,337
22 years$14,822$11,710$9,161$7,106$5,472$3,810
23 years$14,028$10,952$8,459$6,472$4,912$3,351
24 years$13,301$10,261$7,823$5,903$4,415$2,951
25 years$12,633$9,630$7,245$5,391$3,973$2,601
26 years$12,017$9,050$6,720$4,929$3,579$2,294
27 years$11,448$8,517$6,240$4,512$3,227$2,025
28 years$10,921$8,026$5,801$4,134$2,911$1,788
29 years$10,431$7,571$5,398$3,791$2,629$1,580
30 years$9,974$7,150$5,028$3,479$2,375$1,397
31 years$9,548$6,760$4,688$3,195$2,148$1,236
32 years$9,149$6,396$4,374$2,936$1,943$1,093
33 years$8,775$6,057$4,084$2,700$1,758$968
34 years$8,424$5,741$3,816$2,484$1,592$857
35 years$8,094$5,445$3,567$2,287$1,442$759
36 years$7,782$5,168$3,337$2,106$1,306$672
37 years$7,489$4,908$3,123$1,941$1,184$595
38 years$7,211$4,665$2,925$1,789$1,073$528
39 years$6,948$4,436$2,740$1,649$973$468
40 years$6,699$4,220$2,569$1,521$883$414
41 years$6,463$4,017$2,408$1,404$801$367
42 years$6,238$3,826$2,259$1,295$727$326
43 years$6,025$3,645$2,120$1,196$660$289
44 years$5,822$3,475$1,990$1,104$599$256
45 years$5,628$3,314$1,869$1,020$544$227
46 years$5,444$3,161$1,755$942$493$201
47 years$5,268$3,017$1,649$870$448$179
48 years$5,099$2,880$1,549$804$407$158
49 years$4,938$2,750$1,456$743$370$141
50 years$4,784$2,627$1,369$687$336$125

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $4,900,000, adding $6,012 every year, while hoping to spend $40,578 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: 82/5/13 Blend
61$4,900,000$4,900,000$4,900,000$4,900,000
62$5,406,001$5,146,301$5,070,351$5,835,669
63$5,914,239$5,355,295$5,197,033$6,327,380
64$6,472,957$5,573,170$5,326,599$6,861,218
65$7,087,261$5,800,318$5,459,103$7,446,171
66$7,762,777$6,037,149$5,594,598$8,087,352
67$8,505,703$6,284,092$5,733,140$8,790,391
68$9,322,868$6,541,596$5,874,784$9,561,489
69$10,221,795$6,810,129$6,019,584$10,407,479
70$11,210,775$7,090,183$6,167,597$11,335,884
71$12,298,941$7,382,269$6,318,879$12,354,993
72$13,496,357$7,686,924$6,473,485$13,473,935
73$14,814,112$8,004,710$6,631,473$14,702,768
74$16,264,423$8,336,212$6,792,899$16,052,570
75$17,860,753$8,682,045$6,957,820$17,535,548
76$19,617,936$9,042,851$7,126,293$19,165,146
77$21,552,316$9,419,301$7,298,374$20,956,178
78$23,681,903$9,812,098$7,474,120$22,924,963
79$26,026,542$10,221,976$7,653,589$25,089,479
80$28,608,101$10,649,704$7,836,835$27,469,535
81$31,450,674$11,096,087$8,023,916$30,086,955
82$34,580,813$11,561,965$8,214,888$32,965,782
83$38,027,775$12,048,220$8,409,806$36,132,508
84$41,823,798$12,555,773$8,608,724$39,616,322
85$46,004,407$13,085,587$8,811,698$43,449,383
86$50,608,747$13,638,672$9,018,780$47,667,124
87$55,679,955$14,216,082$9,230,025$52,308,588
88$61,265,563$14,818,923$9,445,483$57,416,792
89$67,417,949$15,448,349$9,665,206$63,039,137
90$74,194,834$16,105,572$9,889,244$69,227,848
91$81,659,818$16,791,856$10,117,645$76,040,473
92$89,882,990$17,508,527$10,350,456$83,540,422
93$98,941,582$18,256,972$10,587,724$91,797,564
94$108,920,702$19,038,643$10,829,492$100,888,890
95$119,914,136$19,855,058$11,075,801$110,899,231
96$132,025,230$20,707,809$11,326,693$121,922,068
97$145,367,872$21,598,560$11,582,206$134,060,404
98$160,067,559$22,529,053$11,842,374$147,427,742
99$176,262,588$23,501,114$12,107,231$162,149,151
100$194,105,355$24,516,653$12,376,807$178,362,450