Can I retire at age 62 with 9,600,000?

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 $9,600,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$792,759$785,698$778,808$772,084$765,517$760,693
2 years$392,455$385,146$378,062$371,194$364,532$359,666
3 years$259,038$251,697$244,631$237,828$231,274$226,516
4 years$192,342$185,024$178,029$171,341$164,947$160,334
5 years$152,335$145,061$138,158$131,607$125,390$120,936
6 years$125,673$118,453$111,652$105,247$99,217$94,928
7 years$106,636$99,477$92,783$86,529$80,690$76,568
8 years$92,364$85,270$78,688$72,587$66,940$62,985
9 years$81,270$74,243$67,774$61,828$56,373$52,584
10 years$72,400$65,441$59,087$53,297$48,033$44,407
11 years$65,147$58,259$52,019$46,384$41,310$37,846
12 years$59,108$52,290$46,165$40,685$35,798$32,492
13 years$54,001$47,255$41,246$35,919$31,217$28,066
14 years$49,628$42,953$37,060$31,885$27,364$24,365
15 years$45,842$39,239$33,460$28,435$24,094$21,242
16 years$42,532$36,001$30,336$25,461$21,294$18,586
17 years$39,614$33,155$27,605$22,876$18,881$16,311
18 years$37,024$30,637$25,200$20,616$16,788$14,353
19 years$34,708$28,394$23,069$18,629$14,963$12,658
20 years$32,627$26,385$21,172$16,872$13,366$11,186
21 years$30,747$24,577$19,474$15,312$11,961$9,902
22 years$29,040$22,941$17,948$13,922$10,721$8,778
23 years$27,483$21,457$16,572$12,679$9,624$7,792
24 years$26,059$20,104$15,326$11,564$8,650$6,925
25 years$24,750$18,866$14,195$10,561$7,784$6,160
26 years$23,544$17,731$13,165$9,657$7,011$5,485
27 years$22,430$16,687$12,225$8,839$6,321$4,888
28 years$21,396$15,724$11,365$8,098$5,704$4,358
29 years$20,436$14,834$10,576$7,426$5,150$3,889
30 years$19,541$14,009$9,851$6,816$4,654$3,472
31 years$18,706$13,243$9,184$6,260$4,207$3,101
32 years$17,925$12,531$8,569$5,753$3,806$2,771
33 years$17,192$11,867$8,001$5,290$3,444$2,477
34 years$16,504$11,247$7,475$4,867$3,118$2,215
35 years$15,857$10,668$6,989$4,481$2,825$1,982
36 years$15,247$10,125$6,538$4,127$2,559$1,773
37 years$14,671$9,617$6,119$3,802$2,319$1,587
38 years$14,127$9,139$5,731$3,504$2,103$1,421
39 years$13,613$8,690$5,369$3,231$1,907$1,272
40 years$13,125$8,268$5,032$2,980$1,730$1,139
41 years$12,662$7,871$4,719$2,750$1,569$1,020
42 years$12,222$7,496$4,426$2,538$1,424$914
43 years$11,804$7,142$4,153$2,343$1,292$819
44 years$11,406$6,808$3,899$2,163$1,173$734
45 years$11,027$6,492$3,661$1,998$1,065$657
46 years$10,665$6,193$3,438$1,845$967$589
47 years$10,320$5,910$3,230$1,705$878$528
48 years$9,990$5,642$3,036$1,575$797$473
49 years$9,675$5,388$2,853$1,456$724$424
50 years$9,373$5,146$2,682$1,346$658$380

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $9,600,000, adding $6,670 every year, while hoping to spend $41,485 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: 66/20/14 Blend
61$9,600,000$9,600,000$9,600,000$9,600,000
62$10,586,080$10,077,280$9,928,480$11,249,670
63$11,621,721$10,526,927$10,216,944$12,143,160
64$12,761,606$10,997,216$10,513,682$13,113,937
65$14,016,325$11,489,116$10,818,926$14,174,003
66$15,397,547$12,003,639$11,132,916$15,332,092
67$16,918,127$12,541,847$11,455,899$16,597,814
68$18,592,232$13,104,854$11,788,128$17,981,742
69$20,435,473$13,693,825$12,129,863$19,495,512
70$22,465,049$14,309,980$12,481,372$21,151,929
71$24,699,914$14,954,599$12,842,928$22,965,088
72$27,160,954$15,629,023$13,214,814$24,950,499
73$29,871,181$16,334,656$13,597,321$27,125,239
74$32,855,956$17,072,968$13,990,746$29,508,103
75$36,143,222$17,845,502$14,395,394$32,119,784
76$39,763,772$18,653,873$14,811,581$34,983,061
77$43,751,538$19,499,773$15,239,630$38,123,017
78$48,143,909$20,384,976$15,679,872$41,567,266
79$52,982,088$21,311,340$16,132,647$45,346,215
80$58,311,477$22,280,812$16,598,307$49,493,345
81$64,182,108$23,295,433$17,077,211$54,045,525
82$70,649,114$24,357,340$17,569,729$59,043,357
83$77,773,248$25,468,774$18,076,239$64,531,553
84$85,621,458$26,632,083$18,597,132$70,559,355
85$94,267,519$27,849,727$19,132,808$77,180,995
86$103,792,727$29,124,285$19,683,679$84,456,202
87$114,286,670$30,458,459$20,250,166$92,450,763
88$125,848,067$31,855,080$20,832,703$101,237,137
89$138,585,708$33,317,117$21,431,737$110,895,134
90$152,619,474$34,847,680$22,047,724$121,512,667
91$168,081,471$36,450,028$22,681,134$133,186,570
92$185,117,280$38,127,577$23,332,450$146,023,514
93$203,887,323$39,883,909$24,002,168$160,141,001
94$224,568,384$41,722,775$24,690,795$175,668,471
95$247,355,278$43,648,109$25,398,855$192,748,516
96$272,462,683$45,664,034$26,126,884$211,538,221
97$300,127,175$47,774,870$26,875,432$232,210,636
98$330,609,454$49,985,145$27,645,066$254,956,408
99$364,196,808$52,299,607$28,436,366$279,985,567
100$401,205,826$54,723,232$29,249,928$307,529,504