Can I retire at age 62 with 8,000,000?

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 $8,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$660,633$654,748$649,007$643,403$637,931$631,795
2 years$327,046$320,955$315,052$309,328$303,777$297,595
3 years$215,865$209,748$203,859$198,190$192,728$186,694
4 years$160,285$154,187$148,357$142,785$137,456$131,614
5 years$126,946$120,884$115,131$109,672$104,492$98,860
6 years$104,727$98,711$93,043$87,706$82,681$77,266
7 years$88,863$82,897$77,319$72,108$67,241$62,046
8 years$76,970$71,058$65,573$60,489$55,783$50,807
9 years$67,725$61,869$56,478$51,524$46,978$42,219
10 years$60,333$54,535$49,239$44,414$40,027$35,484
11 years$54,289$48,549$43,349$38,653$34,425$30,092
12 years$49,256$43,575$38,471$33,904$29,832$25,706
13 years$45,001$39,379$34,371$29,932$26,014$22,090
14 years$41,357$35,794$30,883$26,571$22,804$19,077
15 years$38,201$32,699$27,883$23,696$20,078$16,542
16 years$35,443$30,001$25,280$21,217$17,745$14,395
17 years$33,012$27,629$23,004$19,064$15,734$12,563
18 years$30,853$25,531$21,000$17,180$13,990$10,993
19 years$28,924$23,662$19,224$15,524$12,470$9,639
20 years$27,189$21,988$17,643$14,060$11,138$8,469
21 years$25,622$20,481$16,228$12,760$9,967$7,452
22 years$24,200$19,118$14,957$11,602$8,934$6,567
23 years$22,903$17,881$13,810$10,566$8,020$5,794
24 years$21,716$16,753$12,772$9,637$7,208$5,118
25 years$20,625$15,722$11,829$8,801$6,487$4,524
26 years$19,620$14,776$10,971$8,047$5,843$4,003
27 years$18,691$13,906$10,188$7,366$5,268$3,545
28 years$17,830$13,103$9,471$6,749$4,753$3,141
29 years$17,030$12,362$8,813$6,189$4,292$2,785
30 years$16,285$11,674$8,209$5,680$3,878$2,470
31 years$15,589$11,036$7,653$5,216$3,506$2,192
32 years$14,937$10,442$7,141$4,794$3,172$1,946
33 years$14,327$9,889$6,667$4,408$2,870$1,728
34 years$13,753$9,373$6,229$4,056$2,599$1,535
35 years$13,214$8,890$5,824$3,734$2,354$1,364
36 years$12,706$8,438$5,448$3,439$2,133$1,212
37 years$12,226$8,014$5,100$3,168$1,933$1,077
38 years$11,773$7,616$4,775$2,920$1,752$958
39 years$11,344$7,242$4,474$2,693$1,589$852
40 years$10,937$6,890$4,194$2,484$1,441$758
41 years$10,552$6,559$3,932$2,291$1,308$674
42 years$10,185$6,246$3,689$2,115$1,187$600
43 years$9,837$5,952$3,461$1,952$1,077$533
44 years$9,505$5,673$3,249$1,803$977$475
45 years$9,189$5,410$3,051$1,665$887$422
46 years$8,888$5,161$2,865$1,538$806$376
47 years$8,600$4,925$2,692$1,421$732$335
48 years$8,325$4,702$2,530$1,313$664$298
49 years$8,062$4,490$2,378$1,213$603$265
50 years$7,811$4,289$2,235$1,121$548$236

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,000,000, adding $5,853 every year, while hoping to spend $30,894 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: 47/43/10 Blend
61$8,000,000$8,000,000$8,000,000$8,000,000
62$8,822,037$8,398,037$8,274,037$9,212,074
63$9,689,014$8,776,670$8,518,347$9,859,970
64$10,643,387$9,172,821$8,769,805$10,559,033
65$11,694,038$9,587,314$9,028,619$11,316,999
66$12,850,754$10,021,017$9,295,001$12,139,348
67$14,124,318$10,474,834$9,569,171$13,032,099
68$15,526,614$10,949,716$9,851,354$14,001,858
69$17,070,735$11,446,658$10,141,780$15,055,879
70$18,771,109$11,966,703$10,440,689$16,202,129
71$20,643,634$12,510,944$10,748,324$17,449,363
72$22,705,830$13,080,526$11,064,939$18,807,196
73$24,977,002$13,676,648$11,390,791$20,286,196
74$27,478,420$14,300,569$11,726,147$21,897,973
75$30,233,528$14,953,605$12,071,281$23,655,294
76$33,268,153$15,637,137$12,426,475$25,572,187
77$36,610,761$16,352,613$12,792,018$27,664,078
78$40,292,717$17,101,549$13,168,209$29,947,928
79$44,348,583$17,885,535$13,555,353$32,442,386
80$48,816,447$18,706,234$13,953,766$35,167,963
81$53,738,279$19,565,394$14,363,771$38,147,219
82$59,160,328$20,464,843$14,785,702$41,404,967
83$65,133,559$21,406,498$15,219,901$44,968,504
84$71,714,135$22,392,369$15,666,720$48,867,863
85$78,963,943$23,424,562$16,126,522$53,136,084
86$86,951,184$24,505,284$16,599,679$57,809,525
87$95,751,010$25,636,847$17,086,573$62,928,195
88$105,446,238$26,821,678$17,587,599$68,536,122
89$116,128,131$28,062,318$18,103,160$74,681,763
90$127,897,259$29,361,429$18,633,674$81,418,452
91$140,864,445$30,721,805$19,179,568$88,804,892
92$155,151,817$32,146,372$19,741,282$96,905,704
93$170,893,955$33,638,197$20,319,268$105,792,024
94$188,239,166$35,200,497$20,913,991$115,542,164
95$207,350,881$36,836,641$21,525,929$126,242,340
96$228,409,197$38,550,162$22,155,574$137,987,479
97$251,612,580$40,344,765$22,803,430$150,882,095
98$277,179,735$42,224,331$23,470,018$165,041,270
99$305,351,675$44,192,929$24,155,870$180,591,725
100$336,393,990$46,254,827$24,861,536$197,673,001