Can I retire at age 62 with 2,080,000?

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 $2,080,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$171,764$170,234$168,742$167,285$165,862$164,198
2 years$85,032$83,448$81,913$80,425$78,982$77,306
3 years$56,125$54,534$53,003$51,529$50,109$48,474
4 years$41,674$40,089$38,573$37,124$35,738$34,155
5 years$33,006$31,430$29,934$28,515$27,168$25,642
6 years$27,229$25,665$24,191$22,803$21,497$20,030
7 years$23,104$21,553$20,103$18,748$17,483$16,076
8 years$20,012$18,475$17,049$15,727$14,504$13,156
9 years$17,609$16,086$14,684$13,396$12,214$10,926
10 years$15,687$14,179$12,802$11,548$10,407$9,177
11 years$14,115$12,623$11,271$10,050$8,950$7,778
12 years$12,807$11,329$10,003$8,815$7,756$6,640
13 years$11,700$10,239$8,937$7,782$6,764$5,702
14 years$10,753$9,307$8,030$6,908$5,929$4,921
15 years$9,932$8,502$7,250$6,161$5,220$4,265
16 years$9,215$7,800$6,573$5,517$4,614$3,709
17 years$8,583$7,184$5,981$4,957$4,091$3,234
18 years$8,022$6,638$5,460$4,467$3,637$2,828
19 years$7,520$6,152$4,998$4,036$3,242$2,478
20 years$7,069$5,717$4,587$3,656$2,896$2,175
21 years$6,662$5,325$4,219$3,318$2,591$1,913
22 years$6,292$4,971$3,889$3,016$2,323$1,684
23 years$5,955$4,649$3,591$2,747$2,085$1,485
24 years$5,646$4,356$3,321$2,506$1,874$1,311
25 years$5,363$4,088$3,076$2,288$1,686$1,158
26 years$5,101$3,842$2,852$2,092$1,519$1,024
27 years$4,860$3,616$2,649$1,915$1,370$906
28 years$4,636$3,407$2,462$1,755$1,236$802
29 years$4,428$3,214$2,291$1,609$1,116$710
30 years$4,234$3,035$2,134$1,477$1,008$630
31 years$4,053$2,869$1,990$1,356$912$558
32 years$3,884$2,715$1,857$1,246$825$495
33 years$3,725$2,571$1,733$1,146$746$439
34 years$3,576$2,437$1,620$1,055$676$390
35 years$3,436$2,311$1,514$971$612$346
36 years$3,304$2,194$1,417$894$554$307
37 years$3,179$2,084$1,326$824$503$273
38 years$3,061$1,980$1,242$759$456$243
39 years$2,949$1,883$1,163$700$413$216
40 years$2,844$1,791$1,090$646$375$192
41 years$2,743$1,705$1,022$596$340$170
42 years$2,648$1,624$959$550$309$151
43 years$2,558$1,547$900$508$280$134
44 years$2,471$1,475$845$469$254$120
45 years$2,389$1,407$793$433$231$106
46 years$2,311$1,342$745$400$209$95
47 years$2,236$1,280$700$369$190$84
48 years$2,165$1,222$658$341$173$75
49 years$2,096$1,167$618$315$157$66
50 years$2,031$1,115$581$292$143$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,080,000, adding $5,577 every year, while hoping to spend $58,359 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: 61/11/28 Blend
61$2,080,000$2,080,000$2,080,000$2,080,000
62$2,297,913$2,187,673$2,155,433$2,420,435
63$2,470,206$2,232,775$2,165,546$2,549,608
64$2,658,118$2,278,132$2,174,042$2,683,769
65$2,863,179$2,323,693$2,180,806$2,828,985
66$3,087,075$2,369,406$2,185,715$2,986,348
67$3,331,662$2,415,212$2,188,641$3,157,062
68$3,598,982$2,461,048$2,189,452$3,342,454
69$3,891,285$2,506,846$2,188,005$3,543,988
70$4,211,047$2,552,533$2,184,154$3,763,277
71$4,560,995$2,598,028$2,177,744$4,002,101
72$4,944,130$2,643,245$2,168,613$4,262,420
73$5,363,760$2,688,092$2,156,589$4,546,398
74$5,823,524$2,732,470$2,141,496$4,856,419
75$6,327,433$2,776,271$2,123,146$5,195,113
76$6,879,904$2,819,380$2,101,344$5,565,378
77$7,485,799$2,861,674$2,075,883$5,970,411
78$8,150,476$2,903,022$2,046,551$6,413,736
79$8,879,835$2,943,281$2,013,121$6,899,237
80$9,680,376$2,982,300$1,975,359$7,431,199
81$10,559,259$3,019,917$1,933,018$8,014,345
82$11,524,369$3,055,959$1,885,840$8,653,881
83$12,584,395$3,090,241$1,833,556$9,355,549
84$13,748,907$3,122,566$1,775,883$10,125,677
85$15,028,447$3,152,723$1,712,527$10,971,244
86$16,434,630$3,180,489$1,643,178$11,899,943
87$17,980,253$3,205,623$1,567,515$12,920,253
88$19,679,412$3,227,871$1,485,200$14,041,526
89$21,547,638$3,246,963$1,395,880$15,274,067
90$23,602,042$3,262,609$1,299,187$16,629,240
91$25,861,476$3,274,503$1,194,736$18,119,572
92$28,346,712$3,282,319$1,082,124$19,758,870
93$31,080,633$3,285,709$960,933$21,562,358
94$34,088,456$3,284,307$830,721$23,546,815
95$37,397,960$3,277,720$691,033$25,730,741
96$41,039,757$3,265,533$541,387$28,134,525
97$45,047,574$3,247,306$381,286$30,780,646
98$49,458,574$3,222,572$210,206$33,693,880
99$54,313,705$3,190,834$27,604$36,901,538
100$59,658,085$3,151,567$0$40,433,726