Can I retire at age 62 with 5,600,000?

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 $5,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$462,443$458,324$454,305$450,382$446,552$431,223
2 years$228,932$224,668$220,536$216,530$212,644$197,356
3 years$151,105$146,823$142,702$138,733$134,910$120,144
4 years$112,200$107,931$103,850$99,949$96,219$82,087
5 years$88,862$84,619$80,592$76,771$73,144$59,684
6 years$73,309$69,098$65,130$61,394$57,876$45,099
7 years$62,204$58,028$54,124$50,475$47,069$34,972
8 years$53,879$49,741$45,901$42,343$39,048$27,622
9 years$47,408$43,308$39,535$36,066$32,884$22,114
10 years$42,233$38,174$34,467$31,090$28,019$17,887
11 years$38,003$33,984$30,344$27,057$24,097$14,584
12 years$34,480$30,502$26,930$23,733$20,882$11,966
13 years$31,501$27,565$24,060$20,953$18,210$9,867
14 years$28,950$25,056$21,618$18,599$15,963$8,169
15 years$26,741$22,889$19,518$16,587$14,055$6,785
16 years$24,810$21,000$17,696$14,852$12,422$5,651
17 years$23,108$19,341$16,103$13,345$11,014$4,716
18 years$21,597$17,872$14,700$12,026$9,793$3,944
19 years$20,247$16,563$13,457$10,867$8,729$3,302
20 years$19,033$15,391$12,350$9,842$7,797$2,769
21 years$17,936$14,336$11,360$8,932$6,977$2,324
22 years$16,940$13,383$10,470$8,121$6,254$1,952
23 years$16,032$12,516$9,667$7,396$5,614$1,641
24 years$15,201$11,727$8,940$6,746$5,046$1,381
25 years$14,438$11,005$8,280$6,161$4,541$1,162
26 years$13,734$10,343$7,680$5,633$4,090$978
27 years$13,084$9,734$7,131$5,156$3,687$824
28 years$12,481$9,172$6,629$4,724$3,327$694
29 years$11,921$8,653$6,169$4,332$3,004$585
30 years$11,399$8,172$5,746$3,976$2,715$493
31 years$10,912$7,725$5,357$3,651$2,454$416
32 years$10,456$7,310$4,998$3,356$2,220$351
33 years$10,029$6,922$4,667$3,086$2,009$296
34 years$9,627$6,561$4,361$2,839$1,819$249
35 years$9,250$6,223$4,077$2,614$1,648$210
36 years$8,894$5,906$3,814$2,407$1,493$177
37 years$8,558$5,610$3,570$2,218$1,353$150
38 years$8,241$5,331$3,343$2,044$1,227$126
39 years$7,941$5,069$3,132$1,885$1,112$107
40 years$7,656$4,823$2,936$1,739$1,009$90
41 years$7,386$4,591$2,753$1,604$915$76
42 years$7,130$4,372$2,582$1,480$831$64
43 years$6,886$4,166$2,423$1,367$754$54
44 years$6,654$3,971$2,274$1,262$684$46
45 years$6,432$3,787$2,135$1,165$621$38
46 years$6,221$3,613$2,006$1,076$564$32
47 years$6,020$3,447$1,884$994$512$27
48 years$5,828$3,291$1,771$919$465$23
49 years$5,644$3,143$1,664$849$422$19
50 years$5,468$3,002$1,565$785$384$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $5,600,000, adding $6,759 every year, while hoping to spend $20,086 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: 35/43/22 Blend
61$5,600,000$5,600,000$5,600,000$5,600,000
62$6,178,172$5,881,372$5,794,572$6,352,896
63$6,786,974$6,148,188$5,967,319$6,749,159
64$7,457,201$6,427,404$6,145,179$7,174,095
65$8,195,096$6,719,608$6,328,304$7,632,187
66$9,007,541$7,025,414$6,516,847$8,126,402
67$9,902,116$7,345,465$6,710,967$8,659,990
68$10,887,176$7,680,437$6,910,828$9,236,514
69$11,971,925$8,031,036$7,116,599$9,859,883
70$13,166,509$8,398,003$7,328,452$10,534,383
71$14,482,103$8,782,116$7,546,565$11,264,715
72$15,931,025$9,184,187$7,771,123$12,056,040
73$17,526,847$9,605,070$8,002,313$12,914,019
74$19,284,525$10,045,658$8,240,330$13,844,868
75$21,220,540$10,506,888$8,485,374$14,855,413
76$23,353,051$10,989,742$8,737,650$15,953,146
77$25,702,071$11,495,248$8,997,370$17,146,298
78$28,289,651$12,024,484$9,264,751$18,443,912
79$31,140,093$12,578,581$9,540,018$19,855,920
80$34,280,174$13,158,723$9,823,400$21,393,237
81$37,739,403$13,766,152$10,115,135$23,067,860
82$41,550,297$14,402,168$10,415,467$24,892,971
83$45,748,688$15,068,135$10,724,646$26,883,064
84$50,374,064$15,765,483$11,042,931$29,054,073
85$55,469,936$16,495,710$11,370,587$31,423,517
86$61,084,256$17,260,386$11,707,888$34,010,660
87$67,269,862$18,061,157$12,055,114$36,836,689
88$74,084,983$18,899,749$12,412,556$39,924,907
89$81,593,785$19,777,970$12,780,510$43,300,947
90$89,866,977$20,697,716$13,159,283$46,993,005
91$98,982,479$21,660,975$13,549,189$51,032,104
92$109,026,158$22,669,829$13,950,553$55,452,375
93$120,092,637$23,726,462$14,363,708$60,291,377
94$132,286,191$24,833,163$14,788,996$65,590,438
95$145,721,726$25,992,331$15,226,771$71,395,039
96$160,525,869$27,206,483$15,677,396$77,755,240
97$176,838,162$28,478,255$16,141,242$84,726,134
98$194,812,376$29,810,411$16,618,696$92,368,367
99$214,617,967$31,205,849$17,110,150$100,748,694
100$236,441,672$32,667,608$17,616,013$109,940,602