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

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 $2,050,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$169,287$167,779$166,308$164,872$163,470$160,564
2 years$83,805$82,245$80,732$79,265$77,843$74,925
3 years$55,315$53,748$52,239$50,786$49,387$46,548
4 years$41,073$39,510$38,017$36,589$35,223$32,485
5 years$32,530$30,977$29,502$28,104$26,776$24,147
6 years$26,836$25,295$23,842$22,475$21,187$18,669
7 years$22,771$21,242$19,813$18,478$17,231$14,825
8 years$19,724$18,209$16,803$15,500$14,294$12,001
9 years$17,355$15,854$14,472$13,203$12,038$9,855
10 years$15,460$13,974$12,617$11,381$10,257$8,183
11 years$13,912$12,441$11,108$9,905$8,821$6,854
12 years$12,622$11,166$9,858$8,688$7,644$5,780
13 years$11,532$10,091$8,808$7,670$6,666$4,903
14 years$10,598$9,172$7,914$6,809$5,843$4,178
15 years$9,789$8,379$7,145$6,072$5,145$3,574
16 years$9,082$7,688$6,478$5,437$4,547$3,067
17 years$8,459$7,080$5,895$4,885$4,032$2,639
18 years$7,906$6,542$5,381$4,402$3,585$2,276
19 years$7,412$6,063$4,926$3,978$3,195$1,967
20 years$6,967$5,634$4,521$3,603$2,854$1,703
21 years$6,566$5,248$4,158$3,270$2,554$1,476
22 years$6,201$4,899$3,833$2,973$2,289$1,281
23 years$5,869$4,582$3,539$2,708$2,055$1,113
24 years$5,565$4,293$3,273$2,469$1,847$968
25 years$5,285$4,029$3,031$2,255$1,662$842
26 years$5,028$3,786$2,811$2,062$1,497$734
27 years$4,790$3,563$2,611$1,887$1,350$639
28 years$4,569$3,358$2,427$1,729$1,218$557
29 years$4,364$3,168$2,258$1,586$1,100$486
30 years$4,173$2,992$2,104$1,455$994$424
31 years$3,995$2,828$1,961$1,337$898$370
32 years$3,828$2,676$1,830$1,228$813$323
33 years$3,671$2,534$1,708$1,130$736$282
34 years$3,524$2,402$1,596$1,039$666$247
35 years$3,386$2,278$1,492$957$603$215
36 years$3,256$2,162$1,396$881$546$188
37 years$3,133$2,054$1,307$812$495$165
38 years$3,017$1,952$1,224$748$449$144
39 years$2,907$1,856$1,146$690$407$126
40 years$2,803$1,766$1,075$636$369$110
41 years$2,704$1,681$1,008$587$335$96
42 years$2,610$1,601$945$542$304$84
43 years$2,521$1,525$887$500$276$74
44 years$2,436$1,454$833$462$250$64
45 years$2,355$1,386$782$427$227$56
46 years$2,277$1,322$734$394$206$49
47 years$2,204$1,262$690$364$187$43
48 years$2,133$1,205$648$336$170$38
49 years$2,066$1,150$609$311$155$33
50 years$2,002$1,099$573$287$140$29

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 $5,386 every year, while hoping to spend $33,120 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: 81/10/9 Blend
61$2,050,000$2,050,000$2,050,000$2,050,000
62$2,264,656$2,156,006$2,124,231$2,444,724
63$2,460,411$2,226,411$2,160,153$2,633,880
64$2,675,024$2,299,155$2,196,169$2,836,528
65$2,910,382$2,374,319$2,232,246$3,057,958
66$3,168,565$2,451,985$2,268,350$3,300,030
67$3,451,865$2,532,239$2,304,446$3,564,795
68$3,762,804$2,615,168$2,340,495$3,854,512
69$4,104,164$2,700,865$2,376,455$4,171,668
70$4,479,005$2,789,423$2,412,282$4,519,002
71$4,890,700$2,880,942$2,447,931$4,899,531
72$5,342,966$2,975,522$2,483,351$5,316,577
73$5,839,895$3,073,270$2,518,490$5,773,801
74$6,385,998$3,174,293$2,553,293$6,275,235
75$6,986,242$3,278,706$2,587,700$6,825,319
76$7,646,100$3,386,624$2,621,649$7,428,946
77$8,371,602$3,498,168$2,655,074$8,091,504
78$9,169,392$3,613,465$2,687,906$8,818,931
79$10,046,789$3,732,644$2,720,070$9,617,766
80$11,011,857$3,855,839$2,751,488$10,495,216
81$12,073,481$3,983,190$2,782,078$11,459,218
82$13,241,451$4,114,842$2,811,752$12,518,518
83$14,526,553$4,250,943$2,840,420$13,682,750
84$15,940,672$4,391,649$2,867,984$14,962,531
85$17,496,901$4,537,121$2,894,342$16,369,557
86$19,209,670$4,687,524$2,919,388$17,916,715
87$21,094,876$4,843,032$2,943,006$19,618,202
88$23,170,036$5,003,824$2,965,080$21,489,663
89$25,454,452$5,170,083$2,985,482$23,548,335
90$27,969,392$5,342,004$3,004,082$25,813,210
91$30,738,292$5,519,784$3,020,741$28,305,216
92$33,786,974$5,703,629$3,035,312$31,047,411
93$37,143,893$5,893,755$3,047,642$34,065,202
94$40,840,403$6,090,382$3,057,572$37,386,586
95$44,911,054$6,293,740$3,064,930$41,042,410
96$49,393,916$6,504,069$3,069,540$45,066,666
97$54,330,942$6,721,614$3,071,216$49,496,810
98$59,768,358$6,946,633$3,069,761$54,374,114
99$65,757,103$7,179,391$3,064,972$59,744,056
100$72,353,311$7,420,164$3,056,631$65,656,751