Can I retire at age 62 with 7,600,000?

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 $7,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$627,601$622,011$616,556$611,233$606,035$597,966
2 years$310,694$304,907$299,299$293,862$288,588$280,472
3 years$205,072$199,260$193,666$188,280$183,092$175,181
4 years$152,271$146,477$140,940$135,645$130,583$122,937
5 years$120,599$114,840$109,375$104,189$99,267$91,909
6 years$99,491$93,775$88,391$83,320$78,547$71,486
7 years$84,420$78,753$73,453$68,502$63,879$57,118
8 years$73,122$67,505$62,294$57,465$52,994$46,531
9 years$64,339$58,776$53,654$48,947$44,629$38,461
10 years$57,317$51,808$46,777$42,193$38,026$32,150
11 years$51,575$46,121$41,182$36,721$32,704$27,113
12 years$46,794$41,396$36,548$32,209$28,340$23,029
13 years$42,751$37,410$32,653$28,436$24,713$19,674
14 years$39,289$34,005$29,339$25,242$21,663$16,889
15 years$36,291$31,064$26,489$22,511$19,074$14,557
16 years$33,671$28,501$24,016$20,157$16,858$12,588
17 years$31,361$26,248$21,854$18,110$14,947$10,918
18 years$29,310$24,254$19,950$16,321$13,290$9,491
19 years$27,477$22,479$18,263$14,748$11,846$8,269
20 years$25,830$20,888$16,761$13,357$10,581$7,216
21 years$24,341$19,457$15,417$12,122$9,469$6,308
22 years$22,990$18,162$14,209$11,022$8,488$5,521
23 years$21,758$16,987$13,119$10,038$7,619$4,837
24 years$20,630$15,915$12,133$9,155$6,848$4,243
25 years$19,594$14,936$11,238$8,361$6,162$3,725
26 years$18,639$14,037$10,422$7,645$5,551$3,273
27 years$17,757$13,211$9,678$6,997$5,004$2,877
28 years$16,939$12,448$8,997$6,411$4,516$2,531
29 years$16,179$11,744$8,373$5,879$4,077$2,227
30 years$15,470$11,091$7,799$5,396$3,684$1,961
31 years$14,809$10,484$7,271$4,955$3,331$1,727
32 years$14,190$9,920$6,784$4,554$3,013$1,522
33 years$13,610$9,395$6,334$4,188$2,727$1,342
34 years$13,066$8,904$5,918$3,853$2,469$1,183
35 years$12,553$8,445$5,533$3,547$2,236$1,043
36 years$12,071$8,016$5,176$3,267$2,026$920
37 years$11,615$7,613$4,845$3,010$1,836$812
38 years$11,184$7,235$4,537$2,774$1,665$716
39 years$10,777$6,880$4,250$2,558$1,510$632
40 years$10,390$6,546$3,984$2,359$1,369$558
41 years$10,024$6,231$3,736$2,177$1,242$492
42 years$9,676$5,934$3,504$2,009$1,127$435
43 years$9,345$5,654$3,288$1,855$1,023$384
44 years$9,030$5,389$3,087$1,712$929$339
45 years$8,730$5,139$2,898$1,581$843$299
46 years$8,443$4,903$2,722$1,461$765$264
47 years$8,170$4,679$2,557$1,350$695$233
48 years$7,909$4,466$2,403$1,247$631$206
49 years$7,659$4,265$2,259$1,153$573$182
50 years$7,420$4,074$2,124$1,065$521$161

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $7,600,000, adding $3,124 every year, while hoping to spend $42,215 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: 73/15/12 Blend
61$7,600,000$7,600,000$7,600,000$7,600,000
62$8,378,422$7,975,622$7,857,822$8,969,320
63$9,188,105$8,321,511$8,076,143$9,706,311
64$10,078,960$8,682,934$8,300,363$10,507,768
65$11,059,224$9,060,607$8,530,634$11,384,461
66$12,137,968$9,455,281$8,767,114$12,343,827
67$13,325,192$9,867,741$9,009,963$13,394,053
68$14,631,911$10,298,809$9,259,346$14,544,151
69$16,070,263$10,749,348$9,515,432$15,804,041
70$17,653,623$11,220,259$9,778,391$17,184,647
71$19,396,727$11,712,486$10,048,402$18,697,995
72$21,315,815$12,227,020$10,325,646$20,357,325
73$23,428,779$12,764,895$10,610,306$22,177,219
74$25,755,337$13,327,197$10,902,573$24,173,732
75$28,317,213$13,915,061$11,202,641$26,364,545
76$31,138,347$14,529,678$11,510,708$28,769,127
77$34,245,120$15,172,294$11,826,979$31,408,923
78$37,666,600$15,844,214$12,151,660$34,307,548
79$41,434,818$16,546,804$12,484,965$37,491,010
80$45,585,069$17,281,498$12,827,111$40,987,959
81$50,156,250$18,049,795$13,178,323$44,829,945
82$55,191,218$18,853,266$13,538,827$49,051,723
83$60,737,202$19,693,556$13,908,858$53,691,576
84$66,846,246$20,572,389$14,288,654$58,791,670
85$73,575,699$21,491,572$14,678,460$64,398,455
86$80,988,756$22,452,995$15,078,524$70,563,100
87$89,155,058$23,458,641$15,489,104$77,341,969
88$98,151,344$24,510,585$15,910,459$84,797,157
89$108,062,180$25,611,002$16,342,858$92,997,068
90$118,980,752$26,762,170$16,786,573$102,017,060
91$131,009,749$27,966,477$17,241,884$111,940,153
92$144,262,332$29,226,423$17,709,076$122,857,809
93$158,863,201$30,544,629$18,188,440$134,870,793
94$174,949,771$31,923,839$18,680,277$148,090,119
95$192,673,470$33,366,930$19,184,889$162,638,097
96$212,201,170$34,876,915$19,702,588$178,649,479
97$233,716,758$36,456,952$20,233,693$196,272,733
98$257,422,874$38,110,350$20,778,529$215,671,437
99$283,542,825$39,840,575$21,337,428$237,025,818
100$312,322,690$41,651,260$21,910,728$260,534,451