Can I retire at age 62 with 6,800,000?

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 $6,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$561,538$556,536$551,656$546,893$542,242$537,250
2 years$277,989$272,812$267,794$262,929$258,210$253,181
3 years$183,485$178,285$173,280$168,461$163,819$158,908
4 years$136,242$131,059$126,104$121,367$116,837$112,082
5 years$107,904$102,752$97,862$93,221$88,818$84,233
6 years$89,018$83,904$79,087$74,550$70,279$65,870
7 years$75,534$70,463$65,722$61,292$57,155$52,924
8 years$65,425$60,400$55,737$51,416$47,416$43,362
9 years$57,566$52,589$48,006$43,795$39,931$36,054
10 years$51,283$46,354$41,853$37,752$34,023$30,320
11 years$46,146$41,267$36,847$32,855$29,261$25,729
12 years$41,868$37,039$32,701$28,819$25,357$21,993
13 years$38,251$33,472$29,216$25,442$22,112$18,911
14 years$35,153$30,425$26,250$22,585$19,383$16,342
15 years$32,471$27,794$23,701$20,142$17,066$14,181
16 years$30,127$25,500$21,488$18,035$15,083$12,348
17 years$28,060$23,485$19,553$16,204$13,374$10,785
18 years$26,225$21,701$17,850$14,603$11,891$9,443
19 years$24,585$20,112$16,341$13,195$10,599$8,287
20 years$23,111$18,689$14,997$11,951$9,467$7,285
21 years$21,779$17,408$13,794$10,846$8,472$6,416
22 years$20,570$16,250$12,713$9,862$7,594$5,658
23 years$19,467$15,198$11,738$8,981$6,817$4,996
24 years$18,458$14,240$10,856$8,191$6,127$4,416
25 years$17,531$13,364$10,055$7,481$5,514$3,907
26 years$16,677$12,560$9,325$6,840$4,966$3,460
27 years$15,888$11,820$8,659$6,261$4,478$3,066
28 years$15,156$11,138$8,050$5,736$4,040$2,719
29 years$14,476$10,507$7,491$5,260$3,648$2,412
30 years$13,842$9,923$6,978$4,828$3,296$2,141
31 years$13,250$9,381$6,505$4,434$2,980$1,902
32 years$12,697$8,876$6,070$4,075$2,696$1,690
33 years$12,178$8,406$5,667$3,747$2,440$1,502
34 years$11,690$7,967$5,295$3,448$2,209$1,335
35 years$11,232$7,556$4,950$3,174$2,001$1,187
36 years$10,800$7,172$4,631$2,923$1,813$1,056
37 years$10,392$6,812$4,335$2,693$1,643$940
38 years$10,007$6,474$4,059$2,482$1,489$836
39 years$9,642$6,156$3,803$2,289$1,351$744
40 years$9,297$5,857$3,565$2,111$1,225$663
41 years$8,969$5,575$3,342$1,948$1,111$590
42 years$8,657$5,309$3,135$1,798$1,009$525
43 years$8,361$5,059$2,942$1,659$915$468
44 years$8,079$4,822$2,762$1,532$831$416
45 years$7,811$4,598$2,593$1,415$754$371
46 years$7,555$4,387$2,435$1,307$685$330
47 years$7,310$4,186$2,288$1,208$622$294
48 years$7,076$3,996$2,150$1,116$565$262
49 years$6,853$3,816$2,021$1,031$513$234
50 years$6,639$3,645$1,900$953$466$208

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,800,000, adding $3,701 every year, while hoping to spend $54,705 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: 48/27/25 Blend
61$6,800,000$6,800,000$6,800,000$6,800,000
62$7,497,418$7,137,018$7,031,618$7,803,776
63$8,203,948$7,428,526$7,208,971$8,310,267
64$8,980,712$7,732,484$7,390,432$8,854,249
65$9,834,814$8,049,446$7,576,082$9,443,908
66$10,774,084$8,379,987$7,765,999$10,083,571
67$11,807,147$8,724,713$7,960,267$10,777,993
68$12,943,507$9,084,255$8,158,966$11,532,400
69$14,193,635$9,459,273$8,362,182$12,352,541
70$15,569,067$9,850,459$8,569,996$13,244,735
71$17,082,515$10,258,535$8,782,494$14,215,933
72$18,747,985$10,684,257$8,999,761$15,273,779
73$20,580,909$11,128,415$9,221,883$16,426,684
74$22,598,292$11,591,837$9,448,946$17,683,897
75$24,818,868$12,075,388$9,681,036$19,055,597
76$27,263,283$12,579,972$9,918,241$20,552,984
77$29,954,284$13,106,537$10,160,649$22,188,381
78$32,916,938$13,656,074$10,408,347$23,975,350
79$36,178,862$14,229,618$10,661,423$25,928,817
80$39,770,491$14,828,254$10,919,966$28,065,210
81$43,725,360$15,453,118$11,184,063$30,402,613
82$48,080,421$16,105,395$11,453,804$32,960,931
83$52,876,393$16,786,329$11,729,276$35,762,078
84$58,158,146$17,497,219$12,010,567$38,830,178
85$63,975,120$18,239,426$12,297,764$42,191,793
86$70,381,798$19,014,374$12,590,955$45,876,167
87$77,438,216$19,823,553$12,890,227$49,915,502
88$85,210,529$20,668,522$13,195,664$54,345,255
89$93,771,636$21,550,913$13,507,353$59,204,471
90$103,201,870$22,472,435$13,825,376$64,536,149
91$113,589,752$23,434,875$14,149,817$70,387,642
92$125,032,829$24,440,106$14,480,758$76,811,098
93$137,638,592$25,490,086$14,818,278$83,863,954
94$151,525,495$26,586,866$15,162,457$91,609,466
95$166,824,066$27,732,593$15,513,370$100,117,308
96$183,678,145$28,929,515$15,871,092$109,464,221
97$202,246,237$30,179,983$16,235,695$119,734,734
98$222,703,012$31,486,461$16,607,250$131,021,955
99$245,240,950$32,851,528$16,985,823$143,428,447
100$270,072,157$34,277,883$17,371,479$157,067,188