Can I retire at age 62 with 8,600,000?

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 $8,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$710,180$703,854$697,682$691,658$685,776$671,655
2 years$351,574$345,026$338,681$332,528$326,560$312,398
3 years$232,055$225,479$219,149$213,054$207,183$193,421
4 years$172,307$165,751$159,484$153,493$147,765$134,509
5 years$136,467$129,951$123,766$117,898$112,328$99,617
6 years$112,582$106,114$100,022$94,284$88,882$76,728
7 years$95,528$89,115$83,118$77,516$72,285$60,691
8 years$82,743$76,388$70,491$65,026$59,967$48,930
9 years$72,804$66,509$60,714$55,388$50,501$40,013
10 years$64,858$58,625$52,932$47,745$43,029$33,080
11 years$58,361$52,190$46,600$41,552$37,007$27,584
12 years$52,951$46,843$41,357$36,447$32,069$23,159
13 years$48,376$42,332$36,949$32,177$27,965$19,552
14 years$44,459$38,479$33,199$28,563$24,514$16,582
15 years$41,066$35,151$29,974$25,473$21,584$14,116
16 years$38,101$32,251$27,176$22,809$19,076$12,055
17 years$35,488$29,702$24,729$20,493$16,914$10,321
18 years$33,167$27,446$22,575$18,469$15,039$8,857
19 years$31,093$25,436$20,666$16,688$13,405$7,614
20 years$29,229$23,637$18,966$15,114$11,973$6,556
21 years$27,544$22,017$17,445$13,717$10,715$5,653
22 years$26,015$20,552$16,078$12,472$9,604$4,880
23 years$24,621$19,222$14,846$11,359$8,621$4,217
24 years$23,344$18,009$13,730$10,360$7,749$3,647
25 years$22,172$16,901$12,716$9,461$6,973$3,156
26 years$21,092$15,884$11,794$8,651$6,281$2,734
27 years$20,093$14,949$10,952$7,918$5,663$2,369
28 years$19,168$14,086$10,181$7,255$5,110$2,053
29 years$18,307$13,289$9,474$6,653$4,614$1,781
30 years$17,506$12,550$8,825$6,106$4,169$1,545
31 years$16,758$11,864$8,227$5,607$3,769$1,341
32 years$16,058$11,225$7,676$5,153$3,409$1,164
33 years$15,401$10,631$7,167$4,739$3,086$1,011
34 years$14,785$10,076$6,697$4,360$2,794$878
35 years$14,205$9,556$6,261$4,014$2,530$762
36 years$13,659$9,070$5,857$3,697$2,293$662
37 years$13,143$8,615$5,482$3,406$2,078$575
38 years$12,656$8,187$5,134$3,139$1,884$500
39 years$12,195$7,785$4,810$2,895$1,708$434
40 years$11,758$7,407$4,508$2,670$1,549$378
41 years$11,343$7,051$4,227$2,463$1,406$328
42 years$10,949$6,715$3,965$2,273$1,276$285
43 years$10,575$6,398$3,721$2,099$1,158$248
44 years$10,218$6,099$3,493$1,938$1,051$216
45 years$9,878$5,816$3,279$1,790$954$187
46 years$9,554$5,548$3,080$1,653$866$163
47 years$9,245$5,294$2,894$1,527$786$142
48 years$8,950$5,054$2,719$1,411$714$123
49 years$8,667$4,826$2,556$1,304$649$107
50 years$8,397$4,610$2,403$1,205$589$93

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $8,600,000, adding $4,084 every year, while hoping to spend $48,527 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: 53/22/25 Blend
61$8,600,000$8,600,000$8,600,000$8,600,000
62$9,481,413$9,025,613$8,892,313$9,917,888
63$10,396,884$9,416,235$9,138,573$10,610,442
64$11,404,108$9,824,372$9,391,456$11,358,369
65$12,512,390$10,250,830$9,651,134$12,171,307
66$13,731,987$10,696,454$9,917,780$13,055,487
67$15,074,198$11,162,128$10,191,573$14,017,759
68$16,551,473$11,648,779$10,472,698$15,065,656
69$18,177,531$12,157,377$10,761,341$16,207,463
70$19,967,488$12,688,937$11,057,694$17,452,292
71$21,937,999$13,244,522$11,361,955$18,810,169
72$24,107,418$13,825,247$11,674,324$20,292,120
73$26,495,968$14,432,278$11,995,007$21,910,281
74$29,125,933$15,066,835$12,324,215$23,678,003
75$32,021,866$15,730,198$12,662,164$25,609,977
76$35,210,824$16,423,705$13,009,074$27,722,374
77$38,722,622$17,148,761$13,365,172$30,032,988
78$42,590,113$17,906,833$13,730,689$32,561,406
79$46,849,497$18,699,462$14,105,860$35,329,190
80$51,540,668$19,528,257$14,490,929$38,360,072
81$56,707,583$20,394,908$14,886,141$41,680,181
82$62,398,680$21,301,183$15,291,751$45,318,281
83$68,667,338$22,248,933$15,708,017$49,306,042
84$75,572,374$23,240,099$16,135,203$53,678,335
85$83,178,605$24,276,712$16,573,581$58,473,554
86$91,557,453$25,360,901$17,023,427$63,733,977
87$100,787,625$26,494,897$17,485,023$69,506,163
88$110,955,850$27,681,035$17,958,659$75,841,380
89$122,157,704$28,921,762$18,444,631$82,796,091
90$134,498,503$30,219,642$18,943,239$90,432,478
91$148,094,306$31,577,360$19,454,794$98,819,025
92$163,073,005$32,997,731$19,979,610$108,031,160
93$179,575,534$34,483,702$20,518,009$118,151,961
94$197,757,197$36,038,362$21,070,320$129,272,933
95$217,789,135$37,664,946$21,636,880$141,494,866
96$239,859,944$39,366,845$22,218,032$154,928,783
97$264,177,449$41,147,611$22,814,127$169,696,978
98$290,970,670$43,010,966$23,425,522$185,934,163
99$320,491,985$44,960,809$24,052,584$203,788,736
100$353,019,507$47,001,228$24,695,684$223,424,173