Can I retire at age 62 with 2,010,000?

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 $2,010,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$165,984$164,505$163,063$161,655$160,280$157,950
2 years$82,170$80,640$79,157$77,719$76,324$73,981
3 years$54,236$52,699$51,220$49,795$48,423$46,141
4 years$40,272$38,739$37,275$35,875$34,536$32,331
5 years$31,895$30,372$28,927$27,555$26,253$24,133
6 years$26,313$24,801$23,377$22,036$20,773$18,740
7 years$22,327$20,828$19,427$18,117$16,894$14,949
8 years$19,339$17,853$16,475$15,198$14,016$12,157
9 years$17,016$15,545$14,190$12,945$11,803$10,031
10 years$15,159$13,702$12,371$11,159$10,057$8,369
11 years$13,640$12,198$10,891$9,712$8,649$7,045
12 years$12,376$10,948$9,666$8,518$7,495$5,972
13 years$11,307$9,894$8,636$7,520$6,536$5,092
14 years$10,391$8,993$7,759$6,676$5,729$4,363
15 years$9,598$8,216$7,006$5,954$5,045$3,752
16 years$8,905$7,538$6,352$5,331$4,458$3,238
17 years$8,294$6,942$5,780$4,790$3,953$2,803
18 years$7,752$6,415$5,276$4,317$3,515$2,431
19 years$7,267$5,945$4,830$3,900$3,133$2,113
20 years$6,831$5,524$4,433$3,533$2,798$1,840
21 years$6,438$5,146$4,077$3,206$2,504$1,605
22 years$6,080$4,803$3,758$2,915$2,245$1,401
23 years$5,754$4,492$3,470$2,655$2,015$1,225
24 years$5,456$4,209$3,209$2,421$1,811$1,072
25 years$5,182$3,950$2,972$2,211$1,630$939
26 years$4,930$3,712$2,756$2,022$1,468$823
27 years$4,696$3,494$2,560$1,851$1,324$722
28 years$4,480$3,292$2,380$1,696$1,194$633
29 years$4,279$3,106$2,214$1,555$1,078$556
30 years$4,091$2,933$2,063$1,427$974$488
31 years$3,917$2,773$1,923$1,311$881$429
32 years$3,753$2,624$1,794$1,204$797$377
33 years$3,600$2,485$1,675$1,108$721$332
34 years$3,456$2,355$1,565$1,019$653$292
35 years$3,320$2,234$1,463$938$591$257
36 years$3,192$2,120$1,369$864$536$226
37 years$3,072$2,013$1,281$796$486$199
38 years$2,958$1,914$1,200$734$440$175
39 years$2,850$1,820$1,124$677$399$154
40 years$2,748$1,731$1,054$624$362$135
41 years$2,651$1,648$988$576$329$119
42 years$2,559$1,569$927$531$298$105
43 years$2,471$1,495$870$490$271$92
44 years$2,388$1,425$816$453$246$81
45 years$2,309$1,359$766$418$223$72
46 years$2,233$1,297$720$386$202$63
47 years$2,161$1,237$676$357$184$56
48 years$2,092$1,181$636$330$167$49
49 years$2,026$1,128$597$305$152$43
50 years$1,962$1,078$562$282$138$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,010,000, adding $6,235 every year, while hoping to spend $21,843 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: 74/6/20 Blend
61$2,010,000$2,010,000$2,010,000$2,010,000
62$2,221,451$2,114,921$2,083,766$2,374,829
63$2,424,799$2,195,312$2,130,332$2,557,866
64$2,648,155$2,278,909$2,177,725$2,755,129
65$2,893,539$2,365,848$2,225,951$2,970,739
66$3,163,173$2,456,267$2,275,013$3,206,518
67$3,459,506$2,550,314$2,324,916$3,464,475
68$3,785,237$2,648,140$2,375,661$3,746,818
69$4,143,337$2,749,905$2,427,252$4,055,983
70$4,537,081$2,855,774$2,479,689$4,394,651
71$4,970,078$2,965,922$2,532,973$4,765,775
72$5,446,302$3,080,528$2,587,104$5,172,609
73$5,970,134$3,199,783$2,642,080$5,618,735
74$6,546,398$3,323,882$2,697,900$6,108,100
75$7,180,411$3,453,033$2,754,560$6,645,053
76$7,878,031$3,587,450$2,812,056$7,234,383
77$8,645,713$3,727,358$2,870,383$7,881,368
78$9,490,568$3,872,991$2,929,533$8,591,819
79$10,420,433$4,024,594$2,989,499$9,372,141
80$11,443,941$4,182,423$3,050,272$10,229,390
81$12,570,607$4,346,746$3,111,840$11,171,338
82$13,810,914$4,517,841$3,174,191$12,206,548
83$15,176,412$4,696,001$3,237,312$13,344,457
84$16,679,829$4,881,528$3,301,185$14,595,460
85$18,335,192$5,074,743$3,365,795$15,971,010
86$20,157,952$5,275,976$3,431,120$17,483,726
87$22,165,140$5,485,576$3,497,139$19,147,514
88$24,375,521$5,703,905$3,563,830$20,977,692
89$26,809,770$5,931,343$3,631,164$22,991,143
90$29,490,673$6,168,286$3,699,115$25,206,464
91$32,443,338$6,415,147$3,767,651$27,644,150
92$35,695,429$6,672,360$3,836,738$30,326,783
93$39,277,434$6,940,377$3,906,340$33,279,245
94$43,222,947$7,219,670$3,976,417$36,528,954
95$47,568,988$7,510,734$4,046,927$40,106,120
96$52,356,349$7,814,085$4,117,824$44,044,034
97$57,629,985$8,130,263$4,189,059$48,379,376
98$63,439,430$8,459,833$4,260,579$53,152,567
99$69,839,271$8,803,383$4,332,328$58,408,147
100$76,889,659$9,161,532$4,404,243$64,195,195