Can I retire at age 62 with 6,900,000?

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 $6,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$569,796$564,720$559,768$554,935$550,216$535,828
2 years$282,077$276,824$271,732$266,796$262,007$247,610
3 years$186,183$180,907$175,829$170,939$166,228$152,271
4 years$138,246$132,986$127,958$123,152$118,555$105,147
5 years$109,491$104,263$99,301$94,592$90,124$77,301
6 years$90,327$85,138$80,250$75,646$71,312$59,086
7 years$76,644$71,499$66,688$62,193$57,996$46,369
8 years$66,387$61,288$56,557$52,172$48,113$37,079
9 years$58,413$53,362$48,712$44,439$40,518$30,067
10 years$52,037$47,036$42,468$38,307$34,524$24,643
11 years$46,825$41,873$37,389$33,338$29,691$20,366
12 years$42,484$37,583$33,181$29,242$25,730$16,944
13 years$38,814$33,964$29,645$25,817$22,437$14,171
14 years$35,670$30,873$26,637$22,917$19,668$11,904
15 years$32,949$28,203$24,049$20,438$17,317$10,035
16 years$30,570$25,875$21,804$18,300$15,305$8,485
17 years$28,473$23,830$19,841$16,442$13,571$7,192
18 years$26,611$22,020$18,112$14,818$12,066$6,108
19 years$24,947$20,408$16,581$13,389$10,755$5,197
20 years$23,451$18,964$15,217$12,127$9,607$4,427
21 years$22,099$17,665$13,997$11,006$8,597$3,777
22 years$20,872$16,489$12,900$10,007$7,706$3,225
23 years$19,754$15,422$11,911$9,113$6,917$2,757
24 years$18,730$14,449$11,016$8,312$6,217$2,358
25 years$17,789$13,560$10,203$7,591$5,595$2,018
26 years$16,922$12,744$9,463$6,941$5,039$1,728
27 years$16,121$11,994$8,787$6,353$4,543$1,480
28 years$15,379$11,302$8,168$5,821$4,100$1,269
29 years$14,688$10,662$7,601$5,338$3,702$1,088
30 years$14,045$10,069$7,080$4,899$3,345$933
31 years$13,445$9,519$6,601$4,499$3,024$800
32 years$12,883$9,006$6,159$4,135$2,736$687
33 years$12,357$8,529$5,750$3,802$2,476$589
34 years$11,862$8,084$5,373$3,498$2,241$506
35 years$11,397$7,667$5,023$3,220$2,030$434
36 years$10,959$7,277$4,699$2,966$1,839$373
37 years$10,545$6,912$4,398$2,733$1,667$320
38 years$10,154$6,569$4,119$2,519$1,511$275
39 years$9,784$6,246$3,859$2,322$1,371$236
40 years$9,433$5,943$3,617$2,142$1,243$203
41 years$9,101$5,657$3,392$1,976$1,128$174
42 years$8,785$5,388$3,181$1,824$1,023$149
43 years$8,484$5,133$2,985$1,684$929$128
44 years$8,198$4,893$2,802$1,555$843$110
45 years$7,926$4,666$2,631$1,436$765$95
46 years$7,666$4,451$2,471$1,326$695$81
47 years$7,418$4,248$2,322$1,225$631$70
48 years$7,180$4,055$2,182$1,132$573$60
49 years$6,954$3,872$2,051$1,046$520$52
50 years$6,737$3,699$1,928$967$473$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $6,900,000, adding $4,197 every year, while hoping to spend $37,806 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: 44/50/6 Blend
61$6,900,000$6,900,000$6,900,000$6,900,000
62$7,608,129$7,242,429$7,135,479$7,929,846
63$8,343,933$7,557,083$7,334,292$8,467,167
64$9,153,522$7,885,888$7,538,499$9,044,932
65$10,044,382$8,229,497$7,748,239$9,670,215
66$11,024,761$8,588,594$7,963,658$10,347,382
67$12,103,748$8,963,897$8,184,902$11,081,226
68$13,291,358$9,356,156$8,412,123$11,877,007
69$14,598,624$9,766,155$8,645,477$12,740,494
70$16,037,705$10,194,718$8,885,122$13,678,027
71$17,621,999$10,642,706$9,131,221$14,696,561
72$19,366,266$11,111,022$9,383,940$15,803,740
73$21,286,773$11,600,610$9,643,450$17,007,957
74$23,401,444$12,112,460$9,909,926$18,318,431
75$25,730,029$12,647,609$10,183,547$19,745,296
76$28,294,292$13,207,142$10,464,495$21,299,683
77$31,118,213$13,792,195$10,752,959$22,993,829
78$34,228,218$14,403,960$11,049,130$24,841,184
79$37,653,426$15,043,683$11,353,206$26,856,534
80$41,425,923$15,712,672$11,665,386$29,056,134
81$45,581,069$16,412,295$11,985,879$31,457,860
82$50,157,826$17,143,984$12,314,893$34,081,369
83$55,199,127$17,909,243$12,652,645$36,948,281
84$60,752,285$18,709,642$12,999,355$40,082,373
85$66,869,434$19,546,832$13,355,250$43,509,805
86$73,608,026$20,422,536$13,720,561$47,259,352
87$81,031,369$21,338,564$14,095,524$51,362,676
88$89,209,225$22,296,810$14,480,380$55,854,610
89$98,218,472$23,299,259$14,875,378$60,773,488
90$108,143,823$24,347,990$15,280,771$66,161,493
91$119,078,633$25,445,182$15,696,816$72,065,048
92$131,125,774$26,593,116$16,123,780$78,535,249
93$144,398,608$27,794,185$16,561,932$85,628,334
94$159,022,059$29,050,892$17,011,550$93,406,206
95$175,133,788$30,365,865$17,472,916$101,937,010
96$192,885,495$31,741,853$17,946,319$111,295,763
97$212,444,349$33,181,738$18,432,055$121,565,052
98$233,994,570$34,688,540$18,930,426$132,835,805
99$257,739,162$36,265,424$19,441,740$145,208,132
100$283,901,832$37,915,705$19,966,314$158,792,265