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%16.9%
1 years$170,939$169,416$167,930$166,481$165,065$160,424
2 years$84,623$83,047$81,520$80,039$78,602$73,962
3 years$55,855$54,272$52,749$51,282$49,868$45,374
4 years$41,474$39,896$38,387$36,945$35,567$31,253
5 years$32,847$31,279$29,790$28,378$27,037$22,916
6 years$27,098$25,541$24,075$22,694$21,394$17,468
7 years$22,993$21,450$20,006$18,658$17,399$13,670
8 years$19,916$18,386$16,967$15,652$14,434$10,899
9 years$17,524$16,009$14,614$13,332$12,155$8,811
10 years$15,611$14,111$12,741$11,492$10,357$7,199
11 years$14,047$12,562$11,217$10,002$8,907$5,931
12 years$12,745$11,275$9,954$8,773$7,719$4,918
13 years$11,644$10,189$8,894$7,745$6,731$4,099
14 years$10,701$9,262$7,991$6,875$5,900$3,432
15 years$9,885$8,461$7,215$6,131$5,195$2,883
16 years$9,171$7,763$6,541$5,490$4,592$2,429
17 years$8,542$7,149$5,952$4,933$4,071$2,051
18 years$7,983$6,606$5,434$4,445$3,620$1,736
19 years$7,484$6,122$4,974$4,017$3,226$1,471
20 years$7,035$5,689$4,565$3,638$2,882$1,249
21 years$6,630$5,299$4,199$3,302$2,579$1,061
22 years$6,262$4,947$3,870$3,002$2,312$903
23 years$5,926$4,627$3,573$2,734$2,075$768
24 years$5,619$4,335$3,305$2,494$1,865$655
25 years$5,337$4,068$3,061$2,277$1,678$558
26 years$5,077$3,823$2,839$2,082$1,512$476
27 years$4,836$3,598$2,636$1,906$1,363$406
28 years$4,614$3,391$2,451$1,746$1,230$347
29 years$4,407$3,199$2,280$1,601$1,111$296
30 years$4,214$3,021$2,124$1,470$1,003$253
31 years$4,034$2,856$1,980$1,350$907$216
32 years$3,865$2,702$1,848$1,240$821$185
33 years$3,707$2,559$1,725$1,141$743$158
34 years$3,559$2,425$1,612$1,050$672$135
35 years$3,419$2,300$1,507$966$609$115
36 years$3,288$2,183$1,410$890$552$98
37 years$3,164$2,074$1,320$820$500$84
38 years$3,046$1,971$1,236$756$453$72
39 years$2,935$1,874$1,158$697$411$62
40 years$2,830$1,783$1,085$643$373$53
41 years$2,730$1,697$1,017$593$338$45
42 years$2,635$1,616$954$547$307$39
43 years$2,545$1,540$896$505$279$33
44 years$2,459$1,468$841$466$253$28
45 years$2,378$1,400$789$431$230$24
46 years$2,300$1,335$741$398$208$21
47 years$2,225$1,274$697$368$189$18
48 years$2,154$1,217$655$340$172$15
49 years$2,086$1,162$615$314$156$13
50 years$2,021$1,110$578$290$142$11

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 $3,812 every year, while hoping to spend $22,257 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: 58/34/8 Blend
61$2,070,000$2,070,000$2,070,000$2,070,000
62$2,285,072$2,175,362$2,143,277$2,413,289
63$2,494,468$2,258,274$2,191,396$2,582,844
64$2,724,477$2,344,502$2,240,380$2,764,719
65$2,977,177$2,434,186$2,290,236$2,962,403
66$3,254,858$2,527,470$2,340,969$3,177,414
67$3,560,045$2,624,507$2,392,582$3,411,418
68$3,895,516$2,725,455$2,445,080$3,666,248
69$4,264,334$2,830,477$2,498,465$3,943,922
70$4,669,872$2,939,747$2,552,741$4,246,656
71$5,115,849$3,053,445$2,607,908$4,576,892
72$5,606,360$3,171,758$2,663,967$4,937,314
73$6,145,917$3,294,882$2,720,917$5,330,877
74$6,739,491$3,423,021$2,778,759$5,760,830
75$7,392,560$3,556,391$2,837,488$6,230,752
76$8,111,160$3,695,213$2,897,103$6,744,579
77$8,901,941$3,839,721$2,957,599$7,306,644
78$9,772,230$3,990,159$3,018,970$7,921,717
79$10,730,101$4,146,780$3,081,208$8,595,050
80$11,784,450$4,309,850$3,144,307$9,332,421
81$12,945,078$4,479,647$3,208,255$10,140,194
82$14,222,786$4,656,460$3,273,043$11,025,375
83$15,629,476$4,840,593$3,338,655$11,995,678
84$17,178,261$5,032,360$3,405,079$13,059,597
85$18,883,592$5,232,094$3,472,297$14,226,483
86$20,761,391$5,440,139$3,540,291$15,506,635
87$22,829,202$5,656,855$3,609,041$16,911,396
88$25,106,361$5,882,621$3,678,523$18,453,254
89$27,614,169$6,117,829$3,748,714$20,145,965
90$30,376,103$6,362,892$3,819,585$22,004,677
91$33,418,032$6,618,239$3,891,106$24,046,077
92$36,768,459$6,884,321$3,963,246$26,288,541
93$40,458,796$7,161,607$4,035,969$28,752,310
94$44,523,656$7,450,588$4,109,237$31,459,680
95$49,001,181$7,751,779$4,183,008$34,435,210
96$53,933,400$8,065,715$4,257,238$37,705,952
97$59,366,631$8,392,959$4,331,879$41,301,704
98$65,351,909$8,734,096$4,406,880$45,255,294
99$71,945,477$9,089,740$4,482,184$49,602,883
100$79,209,311$9,460,533$4,557,732$54,384,307