Can I retire at age 62 with 2,050,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$169,287$167,779$166,308$164,872$163,470$157,795
2 years$83,805$82,245$80,732$79,265$77,843$72,185
3 years$55,315$53,748$52,239$50,786$49,387$43,922
4 years$41,073$39,510$38,017$36,589$35,223$29,994
5 years$32,530$30,977$29,502$28,104$26,776$21,797
6 years$26,836$25,295$23,842$22,475$21,187$16,461
7 years$22,771$21,242$19,813$18,478$17,231$12,758
8 years$19,724$18,209$16,803$15,500$14,294$10,070
9 years$17,355$15,854$14,472$13,203$12,038$8,057
10 years$15,460$13,974$12,617$11,381$10,257$6,513
11 years$13,912$12,441$11,108$9,905$8,821$5,307
12 years$12,622$11,166$9,858$8,688$7,644$4,351
13 years$11,532$10,091$8,808$7,670$6,666$3,586
14 years$10,598$9,172$7,914$6,809$5,843$2,966
15 years$9,789$8,379$7,145$6,072$5,145$2,462
16 years$9,082$7,688$6,478$5,437$4,547$2,049
17 years$8,459$7,080$5,895$4,885$4,032$1,709
18 years$7,906$6,542$5,381$4,402$3,585$1,428
19 years$7,412$6,063$4,926$3,978$3,195$1,195
20 years$6,967$5,634$4,521$3,603$2,854$1,001
21 years$6,566$5,248$4,158$3,270$2,554$840
22 years$6,201$4,899$3,833$2,973$2,289$705
23 years$5,869$4,582$3,539$2,708$2,055$592
24 years$5,565$4,293$3,273$2,469$1,847$498
25 years$5,285$4,029$3,031$2,255$1,662$418
26 years$5,028$3,786$2,811$2,062$1,497$352
27 years$4,790$3,563$2,611$1,887$1,350$296
28 years$4,569$3,358$2,427$1,729$1,218$249
29 years$4,364$3,168$2,258$1,586$1,100$210
30 years$4,173$2,992$2,104$1,455$994$177
31 years$3,995$2,828$1,961$1,337$898$149
32 years$3,828$2,676$1,830$1,228$813$126
33 years$3,671$2,534$1,708$1,130$736$106
34 years$3,524$2,402$1,596$1,039$666$89
35 years$3,386$2,278$1,492$957$603$75
36 years$3,256$2,162$1,396$881$546$63
37 years$3,133$2,054$1,307$812$495$53
38 years$3,017$1,952$1,224$748$449$45
39 years$2,907$1,856$1,146$690$407$38
40 years$2,803$1,766$1,075$636$369$32
41 years$2,704$1,681$1,008$587$335$27
42 years$2,610$1,601$945$542$304$23
43 years$2,521$1,525$887$500$276$19
44 years$2,436$1,454$833$462$250$16
45 years$2,355$1,386$782$427$227$14
46 years$2,277$1,322$734$394$206$11
47 years$2,204$1,262$690$364$187$10
48 years$2,133$1,205$648$336$170$8
49 years$2,066$1,150$609$311$155$7
50 years$2,002$1,099$573$287$140$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,050,000, adding $5,686 every year, while hoping to spend $48,696 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: 54/33/13 Blend
61$2,050,000$2,050,000$2,050,000$2,050,000
62$2,264,965$2,156,315$2,124,540$2,379,286
63$2,444,179$2,210,162$2,143,900$2,511,535
64$2,640,041$2,265,016$2,162,276$2,649,670
65$2,854,198$2,320,874$2,179,585$2,798,899
66$3,088,462$2,377,733$2,195,737$2,960,289
67$3,344,829$2,435,586$2,210,638$3,135,013
68$3,625,499$2,494,427$2,224,192$3,324,363
69$3,932,891$2,554,245$2,236,293$3,529,763
70$4,269,671$2,615,028$2,246,834$3,752,780
71$4,638,775$2,676,761$2,255,700$3,995,141
72$5,043,435$2,739,428$2,262,772$4,258,749
73$5,487,214$2,803,008$2,267,923$4,545,697
74$5,974,032$2,867,478$2,271,021$4,858,295
75$6,508,210$2,932,812$2,271,927$5,199,085
76$7,094,506$2,998,978$2,270,495$5,570,870
77$7,738,163$3,065,945$2,266,573$5,976,736
78$8,444,952$3,133,673$2,260,000$6,420,086
79$9,221,235$3,202,121$2,250,609$6,904,665
80$10,074,018$3,271,242$2,238,221$7,434,606
81$11,011,021$3,340,985$2,222,654$8,014,458
82$12,040,745$3,411,293$2,203,713$8,649,235
83$13,172,558$3,482,105$2,181,195$9,344,465
84$14,416,782$3,553,351$2,154,888$10,106,236
85$15,784,787$3,624,958$2,124,569$10,941,259
86$17,289,099$3,696,844$2,090,006$11,856,931
87$18,943,520$3,768,923$2,050,954$12,861,400
88$20,763,256$3,841,097$2,007,159$13,963,649
89$22,765,062$3,913,265$1,958,352$15,173,576
90$24,967,397$3,985,313$1,904,255$16,502,090
91$27,390,598$4,057,121$1,844,575$17,961,214
92$30,057,078$4,128,558$1,779,007$19,564,196
93$32,991,526$4,199,483$1,707,230$21,325,640
94$36,221,149$4,269,746$1,628,910$23,261,637
95$39,775,926$4,339,183$1,543,697$25,389,924
96$43,688,886$4,407,619$1,451,228$27,730,049
97$47,996,427$4,474,867$1,351,118$30,303,552
98$52,738,652$4,540,725$1,242,970$33,134,178
99$57,959,752$4,604,977$1,126,367$36,248,091
100$63,708,419$4,667,394$1,000,872$39,674,131