Can I retire at age 62 with 5,800,000?

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 $5,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$478,959$474,692$470,530$466,467$462,500$458,625
2 years$237,108$232,692$228,413$224,263$220,238$216,333
3 years$156,502$152,067$147,798$143,688$139,728$135,913
4 years$116,207$111,785$107,559$103,519$99,655$95,960
5 years$92,036$87,641$83,470$79,512$75,756$72,192
6 years$75,927$71,566$67,456$63,587$59,943$56,514
7 years$64,426$60,101$56,057$52,278$48,750$45,458
8 years$55,803$51,517$47,540$43,855$40,443$37,288
9 years$49,101$44,855$40,947$37,355$34,059$31,039
10 years$43,742$39,538$35,698$32,200$29,020$26,134
11 years$39,360$35,198$31,428$28,024$24,958$22,205
12 years$35,711$31,592$27,892$24,580$21,628$19,004
13 years$32,626$28,550$24,919$21,701$18,860$16,362
14 years$29,984$25,951$22,390$19,264$16,533$14,158
15 years$27,696$23,707$20,215$17,180$14,557$12,302
16 years$25,696$21,750$18,328$15,383$12,865$10,727
17 years$23,933$20,031$16,678$13,821$11,407$9,382
18 years$22,368$18,510$15,225$12,456$10,143$8,226
19 years$20,970$17,155$13,938$11,255$9,040$7,229
20 years$19,712$15,941$12,791$10,193$8,075$6,365
21 years$18,576$14,848$11,765$9,251$7,226$5,614
22 years$17,545$13,860$10,844$8,411$6,477$4,958
23 years$16,605$12,963$10,012$7,660$5,814$4,384
24 years$15,744$12,146$9,260$6,987$5,226$3,882
25 years$14,953$11,398$8,576$6,381$4,703$3,440
26 years$14,225$10,713$7,954$5,834$4,236$3,051
27 years$13,551$10,082$7,386$5,340$3,819$2,708
28 years$12,927$9,500$6,866$4,893$3,446$2,405
29 years$12,347$8,962$6,390$4,487$3,112$2,137
30 years$11,806$8,464$5,952$4,118$2,812$1,900
31 years$11,302$8,001$5,549$3,782$2,542$1,691
32 years$10,830$7,571$5,177$3,476$2,299$1,504
33 years$10,387$7,170$4,834$3,196$2,081$1,339
34 years$9,971$6,795$4,516$2,941$1,884$1,193
35 years$9,580$6,445$4,222$2,707$1,706$1,062
36 years$9,212$6,117$3,950$2,493$1,546$947
37 years$8,864$5,810$3,697$2,297$1,401$844
38 years$8,535$5,522$3,462$2,117$1,270$752
39 years$8,224$5,250$3,244$1,952$1,152$670
40 years$7,930$4,995$3,040$1,801$1,045$598
41 years$7,650$4,755$2,851$1,661$948$533
42 years$7,384$4,529$2,674$1,533$860$476
43 years$7,132$4,315$2,509$1,415$781$424
44 years$6,891$4,113$2,355$1,307$709$378
45 years$6,662$3,922$2,212$1,207$643$338
46 years$6,444$3,742$2,077$1,115$584$301
47 years$6,235$3,571$1,952$1,030$530$269
48 years$6,036$3,409$1,834$952$482$240
49 years$5,845$3,255$1,724$880$437$214
50 years$5,663$3,109$1,621$813$397$191

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $5,800,000, adding $3,310 every year, while hoping to spend $58,818 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: 39/48/13 Blend
61$5,800,000$5,800,000$5,800,000$5,800,000
62$6,395,014$6,087,614$5,997,714$6,619,277
63$6,984,724$6,323,325$6,136,056$7,014,459
64$7,632,612$6,568,615$6,277,060$7,435,495
65$8,344,552$6,823,891$6,420,755$7,889,453
66$9,127,012$7,089,577$6,567,166$8,379,330
67$9,987,120$7,366,119$6,716,319$8,908,417
68$10,932,727$7,653,979$6,868,236$9,480,325
69$11,972,484$7,953,643$7,022,941$10,099,019
70$13,115,921$8,265,615$7,180,453$10,768,854
71$14,373,540$8,590,425$7,340,793$11,494,609
72$15,756,909$8,928,625$7,503,978$12,281,540
73$17,278,776$9,280,789$7,670,024$13,135,415
74$18,953,186$9,647,522$7,838,944$14,062,577
75$20,795,612$10,029,452$8,010,750$15,069,995
76$22,823,105$10,427,236$8,185,451$16,165,329
77$25,054,453$10,841,562$8,363,054$17,357,000
78$27,510,355$11,273,146$8,543,564$18,654,268
79$30,213,620$11,722,739$8,726,983$20,067,311
80$33,189,380$12,191,124$8,913,307$21,607,327
81$36,465,327$12,679,120$9,102,534$23,286,629
82$40,071,977$13,187,583$9,294,654$25,118,761
83$44,042,950$13,717,406$9,489,657$27,118,623
84$48,415,298$14,269,526$9,687,527$29,302,607
85$53,229,843$14,844,918$9,888,245$31,688,747
86$58,531,573$15,444,604$10,091,786$34,296,889
87$64,370,055$16,069,652$10,298,124$37,148,870
88$70,799,913$16,721,177$10,507,223$40,268,725
89$77,881,337$17,400,347$10,719,047$43,682,904
90$85,680,650$18,108,381$10,933,552$47,420,521
91$94,270,938$18,846,554$11,150,688$51,513,621
92$103,732,738$19,616,199$11,370,401$55,997,483
93$114,154,797$20,418,712$11,592,628$60,910,941
94$125,634,906$21,255,549$11,817,301$66,296,751
95$138,280,831$22,128,235$12,044,345$72,201,985
96$152,211,322$23,038,365$12,273,677$78,678,471
97$167,557,237$23,987,605$12,505,205$85,783,278
98$184,462,776$24,977,699$12,738,831$93,579,245
99$203,086,844$26,010,471$12,974,447$102,135,569
100$223,604,546$27,087,828$13,211,935$111,528,453