Can I retire at age 62 with 6,100,000?

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 $6,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$503,732$499,245$494,868$490,595$486,423$475,436
2 years$249,372$244,728$240,227$235,863$231,630$220,620
3 years$164,597$159,933$155,443$151,120$146,955$136,266
4 years$122,217$117,567$113,123$108,873$104,810$94,523
5 years$96,796$92,174$87,788$83,625$79,675$69,820
6 years$79,855$75,267$70,946$66,876$63,044$53,631
7 years$67,758$63,209$58,956$54,982$51,272$42,302
8 years$58,690$54,182$49,999$46,123$42,535$34,006
9 years$51,640$47,175$43,064$39,287$35,820$27,725
10 years$46,004$41,583$37,545$33,866$30,521$22,851
11 years$41,396$37,019$33,054$29,473$26,249$18,994
12 years$37,558$33,226$29,334$25,852$22,747$15,895
13 years$34,313$30,026$26,208$22,823$19,836$13,375
14 years$31,535$27,293$23,548$20,260$17,388$11,305
15 years$29,129$24,933$21,261$18,068$15,310$9,590
16 years$27,025$22,875$19,276$16,178$13,531$8,161
17 years$25,171$21,067$17,540$14,536$11,997$6,962
18 years$23,525$19,467$16,012$13,100$10,667$5,952
19 years$22,054$18,042$14,658$11,837$9,508$5,098
20 years$20,732$16,766$13,453$10,721$8,493$4,373
21 years$19,537$15,616$12,374$9,730$7,600$3,757
22 years$18,452$14,577$11,405$8,846$6,812$3,230
23 years$17,463$13,634$10,530$8,057$6,115$2,781
24 years$16,558$12,774$9,739$7,348$5,496$2,395
25 years$15,727$11,988$9,020$6,711$4,946$2,065
26 years$14,960$11,267$8,365$6,136$4,455$1,781
27 years$14,252$10,603$7,768$5,616$4,017$1,537
28 years$13,596$9,991$7,221$5,146$3,624$1,327
29 years$12,985$9,426$6,720$4,719$3,273$1,146
30 years$12,417$8,902$6,260$4,331$2,957$990
31 years$11,886$8,415$5,836$3,977$2,673$856
32 years$11,390$7,962$5,445$3,655$2,418$740
33 years$10,924$7,540$5,084$3,361$2,189$640
34 years$10,487$7,147$4,750$3,093$1,982$553
35 years$10,076$6,778$4,441$2,847$1,795$478
36 years$9,688$6,434$4,154$2,622$1,626$414
37 years$9,322$6,111$3,888$2,416$1,474$358
38 years$8,977$5,807$3,641$2,227$1,336$310
39 years$8,650$5,522$3,412$2,053$1,212$268
40 years$8,340$5,254$3,198$1,894$1,099$232
41 years$8,046$5,001$2,998$1,747$997$201
42 years$7,766$4,763$2,813$1,613$905$174
43 years$7,501$4,538$2,639$1,489$821$150
44 years$7,248$4,326$2,477$1,374$745$130
45 years$7,007$4,125$2,326$1,269$677$113
46 years$6,777$3,935$2,185$1,172$614$98
47 years$6,558$3,755$2,053$1,083$558$84
48 years$6,348$3,585$1,929$1,001$507$73
49 years$6,148$3,423$1,813$925$460$63
50 years$5,956$3,270$1,704$855$418$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,100,000, adding $3,734 every year, while hoping to spend $38,679 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: 82/11/7 Blend
61$6,100,000$6,100,000$6,100,000$6,100,000
62$6,726,052$6,402,752$6,308,202$7,272,758
63$7,370,955$6,675,332$6,478,372$7,903,394
64$8,080,342$6,959,973$6,652,947$8,590,018
65$8,860,749$7,257,224$6,832,033$9,342,603
66$9,719,378$7,567,661$7,015,739$10,167,732
67$10,664,165$7,891,887$7,204,177$11,072,654
68$11,703,852$8,230,532$7,397,459$12,065,351
69$12,848,074$8,584,257$7,595,703$13,154,612
70$14,107,445$8,953,753$7,799,026$14,350,118
71$15,493,661$9,339,743$8,007,551$15,662,531
72$17,019,610$9,742,986$8,221,399$17,103,592
73$18,699,491$10,164,274$8,440,697$18,686,234
74$20,548,953$10,604,437$8,665,574$20,424,703
75$22,585,237$11,064,344$8,896,161$22,334,687
76$24,827,341$11,544,907$9,132,592$24,433,470
77$27,296,199$12,047,077$9,375,003$26,740,089
78$30,014,879$12,571,852$9,623,534$29,275,514
79$33,008,801$13,120,276$9,878,327$32,062,846
80$36,305,973$13,693,444$10,139,525$35,127,531
81$39,937,261$14,292,502$10,407,278$38,497,604
82$43,936,674$14,918,647$10,681,734$42,203,948
83$48,341,691$15,573,136$10,963,048$46,280,584
84$53,193,609$16,257,286$11,251,376$50,764,994
85$58,537,936$16,972,471$11,546,876$55,698,472
86$64,424,819$17,720,137$11,849,710$61,126,512
87$70,909,519$18,501,792$12,160,044$67,099,234
88$78,052,930$19,319,020$12,478,045$73,671,861
89$85,922,154$20,173,476$12,803,885$80,905,232
90$94,591,135$21,066,898$13,137,736$88,866,380
91$104,141,357$22,001,102$13,479,777$97,629,159
92$114,662,613$22,977,994$13,830,186$107,274,943
93$126,253,850$23,999,566$14,189,148$117,893,387
94$139,024,106$25,067,908$14,556,848$129,583,279
95$153,093,537$26,185,208$14,933,475$142,453,463
96$168,594,554$27,353,759$15,319,222$156,623,866
97$185,673,066$28,575,961$15,714,284$172,226,634
98$204,489,866$29,854,330$16,118,859$189,407,366
99$225,222,140$31,191,501$16,533,149$208,326,498
100$248,065,148$32,590,233$16,957,359$229,160,804