Can I retire at age 62 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$170,939$169,416$167,930$166,481$165,065$160,166
2 years$84,623$83,047$81,520$80,039$78,602$73,707
3 years$55,855$54,272$52,749$51,282$49,868$45,131
4 years$41,474$39,896$38,387$36,945$35,567$31,023
5 years$32,847$31,279$29,790$28,378$27,037$22,699
6 years$27,098$25,541$24,075$22,694$21,394$17,265
7 years$22,993$21,450$20,006$18,658$17,399$13,480
8 years$19,916$18,386$16,967$15,652$14,434$10,723
9 years$17,524$16,009$14,614$13,332$12,155$8,648
10 years$15,611$14,111$12,741$11,492$10,357$7,048
11 years$14,047$12,562$11,217$10,002$8,907$5,791
12 years$12,745$11,275$9,954$8,773$7,719$4,789
13 years$11,644$10,189$8,894$7,745$6,731$3,982
14 years$10,701$9,262$7,991$6,875$5,900$3,324
15 years$9,885$8,461$7,215$6,131$5,195$2,784
16 years$9,171$7,763$6,541$5,490$4,592$2,339
17 years$8,542$7,149$5,952$4,933$4,071$1,970
18 years$7,983$6,606$5,434$4,445$3,620$1,662
19 years$7,484$6,122$4,974$4,017$3,226$1,404
20 years$7,035$5,689$4,565$3,638$2,882$1,188
21 years$6,630$5,299$4,199$3,302$2,579$1,007
22 years$6,262$4,947$3,870$3,002$2,312$854
23 years$5,926$4,627$3,573$2,734$2,075$724
24 years$5,619$4,335$3,305$2,494$1,865$615
25 years$5,337$4,068$3,061$2,277$1,678$523
26 years$5,077$3,823$2,839$2,082$1,512$444
27 years$4,836$3,598$2,636$1,906$1,363$378
28 years$4,614$3,391$2,451$1,746$1,230$322
29 years$4,407$3,199$2,280$1,601$1,111$274
30 years$4,214$3,021$2,124$1,470$1,003$233
31 years$4,034$2,856$1,980$1,350$907$198
32 years$3,865$2,702$1,848$1,240$821$169
33 years$3,707$2,559$1,725$1,141$743$144
34 years$3,559$2,425$1,612$1,050$672$123
35 years$3,419$2,300$1,507$966$609$104
36 years$3,288$2,183$1,410$890$552$89
37 years$3,164$2,074$1,320$820$500$76
38 years$3,046$1,971$1,236$756$453$65
39 years$2,935$1,874$1,158$697$411$55
40 years$2,830$1,783$1,085$643$373$47
41 years$2,730$1,697$1,017$593$338$40
42 years$2,635$1,616$954$547$307$34
43 years$2,545$1,540$896$505$279$29
44 years$2,459$1,468$841$466$253$25
45 years$2,378$1,400$789$431$230$21
46 years$2,300$1,335$741$398$208$18
47 years$2,225$1,274$697$368$189$15
48 years$2,154$1,217$655$340$172$13
49 years$2,086$1,162$615$314$156$11
50 years$2,021$1,110$578$290$142$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,070,000, adding $4,061 every year, while hoping to spend $46,488 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: 52/23/25 Blend
61$2,070,000$2,070,000$2,070,000$2,070,000
62$2,285,329$2,175,619$2,143,534$2,388,028
63$2,468,970$2,232,761$2,165,879$2,516,721
64$2,669,784$2,291,146$2,187,415$2,651,559
65$2,889,473$2,350,784$2,208,066$2,797,292
66$3,129,914$2,411,686$2,227,750$2,954,974
67$3,393,169$2,473,863$2,246,384$3,125,770
68$3,681,513$2,537,323$2,263,878$3,310,961
69$3,997,448$2,602,072$2,280,139$3,511,961
70$4,343,731$2,668,118$2,295,067$3,730,323
71$4,723,400$2,735,464$2,308,560$3,967,764
72$5,139,798$2,804,113$2,320,508$4,226,172
73$5,596,609$2,874,066$2,330,797$4,507,629
74$6,097,890$2,945,322$2,339,306$4,814,428
75$6,648,111$3,017,878$2,345,908$5,149,097
76$7,252,193$3,091,729$2,350,471$5,514,421
77$7,915,559$3,166,867$2,352,854$5,913,471
78$8,644,184$3,243,281$2,352,913$6,349,628
79$9,444,648$3,320,959$2,350,492$6,826,622
80$10,324,200$3,399,883$2,345,431$7,348,561
81$11,290,826$3,480,035$2,337,561$7,919,973
82$12,353,325$3,561,392$2,326,704$8,545,850
83$13,521,390$3,643,927$2,312,675$9,231,690
84$14,805,701$3,727,608$2,295,279$9,983,557
85$16,218,023$3,812,401$2,274,311$10,808,132
86$17,771,320$3,898,267$2,249,559$11,712,779
87$19,479,873$3,985,161$2,220,797$12,705,613
88$21,359,418$4,073,032$2,187,793$13,795,579
89$23,427,294$4,161,826$2,150,299$14,992,536
90$25,702,604$4,251,481$2,108,060$16,307,351
91$28,206,396$4,341,930$2,060,806$17,751,999
92$30,961,861$4,433,097$2,008,256$19,339,679
93$33,994,554$4,524,902$1,950,115$21,084,939
94$37,332,631$4,617,255$1,886,077$23,003,814
95$41,007,117$4,710,058$1,815,818$25,113,975
96$45,052,196$4,803,204$1,739,001$27,434,899
97$49,505,539$4,896,579$1,655,276$29,988,053
98$54,408,649$4,990,057$1,564,273$32,797,098
99$59,807,264$5,083,503$1,465,609$35,888,108
100$65,751,778$5,176,768$1,358,880$39,289,825