Can I retire at age 62 with 6,500,000?

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 $6,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$536,764$531,983$527,318$522,765$518,319$515,053
2 years$265,725$260,776$255,980$251,329$246,819$243,524
3 years$175,390$170,420$165,636$161,029$156,592$153,370
4 years$130,232$125,277$120,540$116,012$111,683$108,560
5 years$103,144$98,218$93,544$89,109$84,899$81,884
6 years$85,091$80,203$75,598$71,261$67,178$64,274
7 years$72,201$67,354$62,822$58,588$54,634$51,843
8 years$62,538$57,735$53,278$49,148$45,324$42,646
9 years$55,027$50,269$45,888$41,863$38,169$35,604
10 years$49,021$44,309$40,007$36,086$32,522$30,067
11 years$44,110$39,446$35,221$31,406$27,970$25,625
12 years$40,021$35,405$31,258$27,547$24,238$22,000
13 years$36,563$31,995$27,927$24,320$21,136$19,003
14 years$33,602$29,083$25,092$21,589$18,528$16,497
15 years$31,039$26,568$22,655$19,253$16,313$14,383
16 years$28,797$24,375$20,540$17,239$14,418$12,584
17 years$26,822$22,449$18,691$15,489$12,784$11,044
18 years$25,068$20,744$17,062$13,959$11,367$9,718
19 years$23,500$19,225$15,620$12,613$10,132$8,571
20 years$22,091$17,865$14,335$11,424$9,050$7,574
21 years$20,818$16,640$13,185$10,368$8,098$6,704
22 years$19,662$15,533$12,152$9,427$7,259$5,943
23 years$18,609$14,528$11,221$8,585$6,516$5,276
24 years$17,644$13,612$10,377$7,830$5,857$4,689
25 years$16,758$12,774$9,611$7,151$5,270$4,171
26 years$15,941$12,005$8,914$6,538$4,747$3,714
27 years$15,187$11,299$8,277$5,985$4,280$3,309
28 years$14,487$10,647$7,695$5,483$3,862$2,951
29 years$13,837$10,044$7,161$5,028$3,487$2,633
30 years$13,231$9,485$6,670$4,615$3,151$2,351
31 years$12,666$8,967$6,218$4,238$2,849$2,100
32 years$12,137$8,484$5,802$3,895$2,577$1,876
33 years$11,641$8,035$5,417$3,582$2,332$1,677
34 years$11,175$7,615$5,061$3,296$2,111$1,500
35 years$10,736$7,223$4,732$3,034$1,912$1,342
36 years$10,324$6,856$4,427$2,794$1,733$1,201
37 years$9,934$6,511$4,143$2,574$1,570$1,074
38 years$9,565$6,188$3,880$2,373$1,424$962
39 years$9,217$5,884$3,635$2,188$1,291$861
40 years$8,887$5,598$3,407$2,018$1,171$771
41 years$8,573$5,329$3,195$1,862$1,062$691
42 years$8,275$5,075$2,997$1,718$964$619
43 years$7,992$4,836$2,812$1,586$875$554
44 years$7,723$4,609$2,640$1,465$794$497
45 years$7,466$4,395$2,479$1,353$721$445
46 years$7,221$4,193$2,328$1,249$655$399
47 years$6,988$4,002$2,187$1,154$594$357
48 years$6,764$3,820$2,055$1,067$540$320
49 years$6,551$3,648$1,932$986$490$287
50 years$6,346$3,485$1,816$911$445$257

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,500,000, adding $5,145 every year, while hoping to spend $52,904 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: 73/11/16 Blend
61$6,500,000$6,500,000$6,500,000$6,500,000
62$7,168,307$6,823,807$6,723,057$7,665,288
63$7,843,185$7,101,884$6,891,990$8,273,471
64$8,585,127$7,391,814$7,064,809$8,932,517
65$9,400,919$7,694,121$7,241,589$9,653,060
66$10,298,034$8,009,355$7,422,404$10,441,189
67$11,284,710$8,338,089$7,607,330$11,303,608
68$12,370,019$8,680,924$7,796,444$12,247,698
69$13,563,959$9,038,488$7,989,823$13,281,588
70$14,877,545$9,411,436$8,187,545$14,414,227
71$16,322,913$9,800,455$8,389,687$15,655,471
72$17,913,437$10,206,264$8,596,328$17,016,174
73$19,663,851$10,629,614$8,807,548$18,508,289
74$21,590,388$11,071,290$9,023,425$20,144,980
75$23,710,939$11,532,114$9,244,041$21,940,746
76$26,045,213$12,012,946$9,469,475$23,911,556
77$28,614,929$12,514,685$9,699,807$26,075,000
78$31,444,020$13,038,272$9,935,118$28,450,451
79$34,558,854$13,584,692$10,175,488$31,059,250
80$37,988,488$14,154,973$10,420,999$33,924,905
81$41,764,942$14,750,195$10,671,730$37,073,310
82$45,923,495$15,371,483$10,927,762$40,532,991
83$50,503,024$16,020,018$11,189,174$44,335,373
84$55,546,368$16,697,035$11,456,047$48,515,074
85$61,100,732$17,403,824$11,728,460$53,110,230
86$67,218,133$18,141,738$12,006,490$58,162,856
87$73,955,891$18,912,192$12,290,215$63,719,241
88$81,377,168$19,716,665$12,579,713$69,830,378
89$89,551,564$20,556,707$12,875,059$76,552,452
90$98,555,778$21,433,940$13,176,328$83,947,362
91$108,474,325$22,350,060$13,483,592$92,083,306
92$119,400,339$23,306,846$13,796,925$101,035,423
93$131,436,447$24,306,155$14,116,396$110,886,500
94$144,695,742$25,349,934$14,442,073$121,727,752
95$159,302,849$26,440,221$14,774,023$133,659,679
96$175,395,096$27,579,149$15,112,309$146,793,016
97$193,123,818$28,768,950$15,456,994$161,249,772
98$212,655,780$30,011,961$15,808,136$177,164,384
99$234,174,753$31,310,630$16,165,792$194,684,980
100$257,883,245$32,667,518$16,530,013$213,974,774