Can I retire at age 62 with 2,030,000?

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 $2,030,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$167,636$166,142$164,685$163,264$161,875$156,381
2 years$82,988$81,442$79,944$78,492$77,083$71,603
3 years$54,776$53,223$51,729$50,291$48,905$43,610
4 years$40,672$39,125$37,646$36,232$34,879$29,811
5 years$32,213$30,674$29,215$27,829$26,515$21,687
6 years$26,575$25,048$23,610$22,255$20,980$16,396
7 years$22,549$21,035$19,620$18,297$17,063$12,722
8 years$19,531$18,031$16,639$15,349$14,155$10,054
9 years$17,185$15,699$14,331$13,074$11,921$8,054
10 years$15,310$13,838$12,494$11,270$10,157$6,519
11 years$13,776$12,319$11,000$9,808$8,735$5,319
12 years$12,499$11,057$9,762$8,603$7,570$4,367
13 years$11,419$9,992$8,722$7,595$6,601$3,603
14 years$10,494$9,083$7,837$6,742$5,786$2,985
15 years$9,694$8,297$7,075$6,013$5,095$2,481
16 years$8,994$7,613$6,415$5,384$4,503$2,068
17 years$8,377$7,011$5,837$4,837$3,993$1,727
18 years$7,829$6,478$5,329$4,359$3,550$1,445
19 years$7,339$6,004$4,878$3,939$3,164$1,211
20 years$6,899$5,579$4,477$3,568$2,826$1,016
21 years$6,502$5,197$4,118$3,238$2,529$854
22 years$6,141$4,851$3,795$2,944$2,267$718
23 years$5,812$4,537$3,504$2,681$2,035$604
24 years$5,510$4,251$3,241$2,445$1,829$508
25 years$5,234$3,989$3,002$2,233$1,646$428
26 years$4,979$3,749$2,784$2,042$1,483$361
27 years$4,743$3,529$2,585$1,869$1,337$304
28 years$4,524$3,325$2,403$1,712$1,206$256
29 years$4,321$3,137$2,236$1,570$1,089$216
30 years$4,132$2,962$2,083$1,441$984$182
31 years$3,956$2,800$1,942$1,324$890$154
32 years$3,790$2,650$1,812$1,216$805$130
33 years$3,635$2,509$1,692$1,119$728$110
34 years$3,490$2,378$1,581$1,029$659$93
35 years$3,353$2,256$1,478$947$597$78
36 years$3,224$2,141$1,383$873$541$66
37 years$3,102$2,034$1,294$804$490$56
38 years$2,987$1,933$1,212$741$445$47
39 years$2,878$1,838$1,135$683$403$40
40 years$2,775$1,748$1,064$630$366$34
41 years$2,677$1,664$998$581$332$28
42 years$2,584$1,585$936$537$301$24
43 years$2,496$1,510$878$495$273$20
44 years$2,412$1,440$824$457$248$17
45 years$2,332$1,373$774$422$225$14
46 years$2,255$1,310$727$390$204$12
47 years$2,182$1,250$683$360$186$10
48 years$2,113$1,193$642$333$169$9
49 years$2,046$1,139$603$308$153$7
50 years$1,982$1,088$567$285$139$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,030,000, adding $4,856 every year, while hoping to spend $40,203 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: 86/7/7 Blend
61$2,030,000$2,030,000$2,030,000$2,030,000
62$2,242,069$2,134,479$2,103,014$2,433,263
63$2,427,984$2,196,293$2,130,689$2,620,467
64$2,631,516$2,259,788$2,157,944$2,820,118
65$2,854,417$2,325,005$2,184,722$3,038,222
66$3,098,621$2,391,983$2,210,964$3,276,610
67$3,366,255$2,460,765$2,236,606$3,537,296
68$3,659,662$2,531,391$2,261,581$3,822,499
69$3,981,423$2,603,905$2,285,820$4,134,664
70$4,334,381$2,678,349$2,309,247$4,476,482
71$4,721,667$2,754,767$2,331,786$4,850,919
72$5,146,728$2,833,202$2,353,352$5,261,240
73$5,613,365$2,913,699$2,373,860$5,711,041
74$6,125,761$2,996,304$2,393,217$6,204,287
75$6,688,526$3,081,060$2,411,328$6,745,342
76$7,306,739$3,168,015$2,428,090$7,339,015
77$7,985,992$3,257,214$2,443,397$7,990,603
78$8,732,450$3,348,704$2,457,137$8,705,943
79$9,552,900$3,442,531$2,469,192$9,491,462
80$10,454,823$3,538,742$2,479,437$10,354,246
81$11,446,460$3,637,385$2,487,743$11,302,097
82$12,536,889$3,738,507$2,493,972$12,343,614
83$13,736,112$3,842,154$2,497,981$13,488,270
84$15,055,151$3,948,375$2,499,618$14,746,502
85$16,506,147$4,057,216$2,498,726$16,129,810
86$18,102,479$4,168,725$2,495,139$17,650,863
87$19,858,887$4,282,947$2,488,681$19,323,623
88$21,791,612$4,399,931$2,479,171$21,163,473
89$23,918,550$4,519,720$2,466,416$23,187,361
90$26,259,417$4,642,362$2,450,216$25,413,964
91$28,835,940$4,767,900$2,430,360$27,863,859
92$31,672,056$4,896,378$2,406,628$30,559,721
93$34,794,145$5,027,839$2,378,789$33,526,536
94$38,231,270$5,162,326$2,346,601$36,791,834
95$42,015,458$5,299,878$2,309,811$40,385,953
96$46,181,998$5,440,535$2,268,152$44,342,321
97$50,769,775$5,584,335$2,221,349$48,697,773
98$55,821,638$5,731,313$2,169,110$53,492,899
99$61,384,801$5,881,503$2,111,131$58,772,427
100$67,511,292$6,034,938$2,047,095$64,585,643