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%18.7%
1 years$167,636$166,142$164,685$163,264$161,875$156,194
2 years$82,988$81,442$79,944$78,492$77,083$71,419
3 years$54,776$53,223$51,729$50,291$48,905$43,436
4 years$40,672$39,125$37,646$36,232$34,879$29,647
5 years$32,213$30,674$29,215$27,829$26,515$21,533
6 years$26,575$25,048$23,610$22,255$20,980$16,253
7 years$22,549$21,035$19,620$18,297$17,063$12,589
8 years$19,531$18,031$16,639$15,349$14,155$9,931
9 years$17,185$15,699$14,331$13,074$11,921$7,941
10 years$15,310$13,838$12,494$11,270$10,157$6,416
11 years$13,776$12,319$11,000$9,808$8,735$5,224
12 years$12,499$11,057$9,762$8,603$7,570$4,280
13 years$11,419$9,992$8,722$7,595$6,601$3,525
14 years$10,494$9,083$7,837$6,742$5,786$2,914
15 years$9,694$8,297$7,075$6,013$5,095$2,417
16 years$8,994$7,613$6,415$5,384$4,503$2,010
17 years$8,377$7,011$5,837$4,837$3,993$1,675
18 years$7,829$6,478$5,329$4,359$3,550$1,399
19 years$7,339$6,004$4,878$3,939$3,164$1,169
20 years$6,899$5,579$4,477$3,568$2,826$979
21 years$6,502$5,197$4,118$3,238$2,529$820
22 years$6,141$4,851$3,795$2,944$2,267$688
23 years$5,812$4,537$3,504$2,681$2,035$578
24 years$5,510$4,251$3,241$2,445$1,829$485
25 years$5,234$3,989$3,002$2,233$1,646$408
26 years$4,979$3,749$2,784$2,042$1,483$343
27 years$4,743$3,529$2,585$1,869$1,337$288
28 years$4,524$3,325$2,403$1,712$1,206$242
29 years$4,321$3,137$2,236$1,570$1,089$204
30 years$4,132$2,962$2,083$1,441$984$172
31 years$3,956$2,800$1,942$1,324$890$144
32 years$3,790$2,650$1,812$1,216$805$122
33 years$3,635$2,509$1,692$1,119$728$102
34 years$3,490$2,378$1,581$1,029$659$86
35 years$3,353$2,256$1,478$947$597$73
36 years$3,224$2,141$1,383$873$541$61
37 years$3,102$2,034$1,294$804$490$51
38 years$2,987$1,933$1,212$741$445$43
39 years$2,878$1,838$1,135$683$403$37
40 years$2,775$1,748$1,064$630$366$31
41 years$2,677$1,664$998$581$332$26
42 years$2,584$1,585$936$537$301$22
43 years$2,496$1,510$878$495$273$18
44 years$2,412$1,440$824$457$248$15
45 years$2,332$1,373$774$422$225$13
46 years$2,255$1,310$727$390$204$11
47 years$2,182$1,250$683$360$186$9
48 years$2,113$1,193$642$333$169$8
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 $2,180 every year, while hoping to spend $41,106 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: 41/46/13 Blend
61$2,030,000$2,030,000$2,030,000$2,030,000
62$2,239,309$2,131,719$2,100,254$2,322,429
63$2,423,982$2,192,436$2,126,876$2,441,903
64$2,626,114$2,254,752$2,153,012$2,566,906
65$2,847,442$2,318,699$2,178,603$2,701,300
66$3,089,880$2,384,314$2,203,585$2,845,958
67$3,355,535$2,451,633$2,227,892$3,001,839
68$3,646,726$2,520,690$2,251,453$3,170,001
69$3,966,011$2,591,522$2,274,195$3,351,605
70$4,316,203$2,664,165$2,296,040$3,547,932
71$4,700,403$2,738,657$2,316,904$3,760,387
72$5,122,025$2,815,032$2,336,702$3,990,520
73$5,584,832$2,893,329$2,355,342$4,240,036
74$6,092,966$2,973,584$2,372,727$4,510,812
75$6,650,993$3,055,833$2,388,757$4,804,915
76$7,263,939$3,140,114$2,403,325$5,124,620
77$7,937,344$3,226,463$2,416,320$5,472,432
78$8,677,309$3,314,916$2,427,623$5,851,110
79$9,490,557$3,405,509$2,437,111$6,263,692
80$10,384,493$3,498,278$2,444,653$6,713,524
81$11,367,277$3,593,259$2,450,115$7,204,292
82$12,447,897$3,690,487$2,453,351$7,740,054
83$13,636,257$3,789,995$2,454,213$8,325,282
84$14,943,267$3,891,817$2,452,541$8,964,900
85$16,380,950$3,995,986$2,448,172$9,664,334
86$17,962,552$4,102,534$2,440,930$10,429,561
87$19,702,665$4,211,491$2,430,633$11,267,165
88$21,617,369$4,322,886$2,417,092$12,184,399
89$23,724,382$4,436,749$2,400,106$13,189,257
90$26,043,224$4,553,105$2,379,465$14,290,541
91$28,595,406$4,671,980$2,354,950$15,497,955
92$31,404,627$4,793,396$2,326,330$16,822,185
93$34,497,001$4,917,375$2,293,365$18,275,011
94$37,901,305$5,043,936$2,255,802$19,869,407
95$41,649,244$5,173,095$2,213,377$21,619,673
96$45,775,756$5,304,866$2,165,815$23,541,564
97$50,319,339$5,439,260$2,112,825$25,652,440
98$55,322,413$5,576,285$2,054,106$27,971,431
99$60,831,720$5,715,945$1,989,340$30,519,616
100$66,898,770$5,858,240$1,918,197$33,320,224