Can I retire at age 62 with 2,000,000?

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 $2,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$165,158$163,687$162,252$160,851$159,483$155,817
2 years$81,761$80,239$78,763$77,332$75,944$72,271
3 years$53,966$52,437$50,965$49,547$48,182$44,617
4 years$40,071$38,547$37,089$35,696$34,364$30,934
5 years$31,737$30,221$28,783$27,418$26,123$22,837
6 years$26,182$24,678$23,261$21,926$20,670$17,533
7 years$22,216$20,724$19,330$18,027$16,810$13,821
8 years$19,243$17,765$16,393$15,122$13,946$11,104
9 years$16,931$15,467$14,120$12,881$11,744$9,048
10 years$15,083$13,634$12,310$11,103$10,007$7,453
11 years$13,572$12,137$10,837$9,663$8,606$6,191
12 years$12,314$10,894$9,618$8,476$7,458$5,177
13 years$11,250$9,845$8,593$7,483$6,503$4,354
14 years$10,339$8,949$7,721$6,643$5,701$3,677
15 years$9,550$8,175$6,971$5,924$5,020$3,117
16 years$8,861$7,500$6,320$5,304$4,436$2,651
17 years$8,253$6,907$5,751$4,766$3,934$2,260
18 years$7,713$6,383$5,250$4,295$3,497$1,931
19 years$7,231$5,915$4,806$3,881$3,117$1,652
20 years$6,797$5,497$4,411$3,515$2,785$1,416
21 years$6,406$5,120$4,057$3,190$2,492$1,216
22 years$6,050$4,779$3,739$2,900$2,234$1,045
23 years$5,726$4,470$3,452$2,642$2,005$898
24 years$5,429$4,188$3,193$2,409$1,802$773
25 years$5,156$3,930$2,957$2,200$1,622$666
26 years$4,905$3,694$2,743$2,012$1,461$574
27 years$4,673$3,476$2,547$1,841$1,317$495
28 years$4,458$3,276$2,368$1,687$1,188$427
29 years$4,258$3,090$2,203$1,547$1,073$369
30 years$4,071$2,919$2,052$1,420$970$318
31 years$3,897$2,759$1,913$1,304$877$275
32 years$3,734$2,611$1,785$1,198$793$237
33 years$3,582$2,472$1,667$1,102$718$205
34 years$3,438$2,343$1,557$1,014$650$177
35 years$3,304$2,222$1,456$933$588$153
36 years$3,176$2,109$1,362$860$533$132
37 years$3,057$2,003$1,275$792$483$114
38 years$2,943$1,904$1,194$730$438$99
39 years$2,836$1,811$1,119$673$397$85
40 years$2,734$1,723$1,048$621$360$74
41 years$2,638$1,640$983$573$327$64
42 years$2,546$1,562$922$529$297$55
43 years$2,459$1,488$865$488$269$48
44 years$2,376$1,418$812$451$244$41
45 years$2,297$1,352$763$416$222$36
46 years$2,222$1,290$716$384$201$31
47 years$2,150$1,231$673$355$183$27
48 years$2,081$1,175$632$328$166$23
49 years$2,016$1,122$594$303$151$20
50 years$1,953$1,072$559$280$137$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,000,000, adding $3,234 every year, while hoping to spend $44,010 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: 76/11/13 Blend
61$2,000,000$2,000,000$2,000,000$2,000,000
62$2,207,336$2,101,336$2,070,336$2,369,030
63$2,385,658$2,157,475$2,092,866$2,532,260
64$2,580,694$2,214,890$2,114,676$2,705,291
65$2,794,102$2,273,597$2,135,694$2,893,755
66$3,027,708$2,333,611$2,155,848$3,099,175
67$3,283,523$2,394,947$2,175,058$3,323,225
68$3,563,761$2,457,618$2,193,241$3,567,750
69$3,870,861$2,521,638$2,210,311$3,834,784
70$4,207,509$2,587,018$2,226,177$4,126,564
71$4,576,662$2,653,769$2,240,741$4,445,556
72$4,981,579$2,721,901$2,253,902$4,794,477
73$5,425,847$2,791,421$2,265,555$5,176,318
74$5,913,418$2,862,336$2,275,587$5,594,375
75$6,448,648$2,934,651$2,283,880$6,052,280
76$7,036,331$3,008,370$2,290,310$6,554,033
77$7,681,750$3,083,493$2,294,749$7,104,042
78$8,390,724$3,160,020$2,297,059$7,707,162
79$9,169,665$3,237,949$2,297,098$8,368,743
80$10,025,636$3,317,273$2,294,715$9,094,680
81$10,966,416$3,397,985$2,289,754$9,891,468
82$12,000,579$3,480,074$2,282,048$10,766,261
83$13,137,566$3,563,526$2,271,426$11,726,946
84$14,387,784$3,648,325$2,257,705$12,782,209
85$15,762,695$3,734,450$2,240,695$13,941,624
86$17,274,929$3,821,877$2,220,197$15,215,738
87$18,938,400$3,910,577$2,196,002$16,616,176
88$20,768,440$4,000,519$2,167,891$18,155,744
89$22,781,942$4,091,665$2,135,636$19,848,555
90$24,997,517$4,183,974$2,098,997$21,710,160
91$27,435,673$4,277,397$2,057,723$23,757,697
92$30,119,005$4,371,884$2,011,551$26,010,048
93$33,072,412$4,467,375$1,960,206$28,488,022
94$36,323,327$4,563,804$1,903,401$31,214,549
95$39,901,976$4,661,101$1,840,835$34,214,897
96$43,841,669$4,759,186$1,772,194$37,516,911
97$48,179,105$4,857,972$1,697,149$41,151,276
98$52,954,726$4,957,365$1,615,356$45,151,803
99$58,213,093$5,057,261$1,526,455$49,555,754
100$64,003,308$5,157,546$1,430,071$54,404,191