Can I retire at age 62 with 2,090,000?

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 $2,090,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$172,590$171,053$169,553$168,089$166,660$165,125
2 years$85,441$83,849$82,307$80,812$79,362$77,816
3 years$56,395$54,797$53,258$51,777$50,350$48,841
4 years$41,874$40,281$38,758$37,302$35,910$34,449
5 years$33,165$31,581$30,078$28,652$27,298$25,889
6 years$27,360$25,788$24,308$22,913$21,600$20,245
7 years$23,215$21,657$20,200$18,838$17,567$16,266
8 years$20,108$18,564$17,131$15,803$14,573$13,328
9 years$17,693$16,163$14,755$13,461$12,273$11,081
10 years$15,762$14,247$12,864$11,603$10,457$9,319
11 years$14,183$12,683$11,325$10,098$8,993$7,908
12 years$12,868$11,384$10,051$8,857$7,794$6,760
13 years$11,757$10,288$8,980$7,820$6,796$5,812
14 years$10,804$9,351$8,068$6,942$5,957$5,023
15 years$9,980$8,543$7,284$6,191$5,245$4,359
16 years$9,259$7,838$6,604$5,543$4,636$3,795
17 years$8,624$7,218$6,010$4,980$4,111$3,315
18 years$8,060$6,670$5,486$4,488$3,655$2,902
19 years$7,556$6,182$5,022$4,056$3,258$2,547
20 years$7,103$5,744$4,609$3,673$2,910$2,239
21 years$6,694$5,351$4,240$3,334$2,604$1,972
22 years$6,322$4,995$3,907$3,031$2,334$1,739
23 years$5,983$4,671$3,608$2,760$2,095$1,535
24 years$5,673$4,377$3,337$2,518$1,883$1,357
25 years$5,388$4,107$3,090$2,299$1,695$1,201
26 years$5,126$3,860$2,866$2,102$1,526$1,063
27 years$4,883$3,633$2,662$1,924$1,376$942
28 years$4,658$3,423$2,474$1,763$1,242$836
29 years$4,449$3,229$2,302$1,617$1,121$741
30 years$4,254$3,050$2,145$1,484$1,013$658
31 years$4,072$2,883$1,999$1,363$916$585
32 years$3,902$2,728$1,865$1,252$829$519
33 years$3,743$2,584$1,742$1,152$750$462
34 years$3,593$2,449$1,627$1,060$679$410
35 years$3,452$2,322$1,522$975$615$365
36 years$3,319$2,204$1,423$898$557$325
37 years$3,194$2,094$1,332$828$505$289
38 years$3,076$1,990$1,248$763$458$257
39 years$2,964$1,892$1,169$703$415$229
40 years$2,857$1,800$1,096$649$377$204
41 years$2,757$1,714$1,027$599$342$181
42 years$2,661$1,632$964$552$310$161
43 years$2,570$1,555$904$510$281$144
44 years$2,483$1,482$849$471$255$128
45 years$2,401$1,413$797$435$232$114
46 years$2,322$1,348$749$402$210$102
47 years$2,247$1,287$703$371$191$90
48 years$2,175$1,228$661$343$174$81
49 years$2,106$1,173$621$317$158$72
50 years$2,041$1,120$584$293$143$64

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,090,000, adding $3,188 every year, while hoping to spend $25,332 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: 25/50/25 Blend
61$2,090,000$2,090,000$2,090,000$2,090,000
62$2,306,468$2,195,698$2,163,303$2,345,827
63$2,514,775$2,276,335$2,208,821$2,459,036
64$2,743,480$2,360,073$2,255,014$2,577,949
65$2,994,637$2,447,039$2,301,880$2,704,917
66$3,270,509$2,537,362$2,349,411$2,840,628
67$3,573,588$2,631,180$2,397,604$2,985,840
68$3,906,620$2,728,634$2,446,449$3,141,381
69$4,272,629$2,829,871$2,495,940$3,308,160
70$4,674,949$2,935,047$2,546,065$3,487,175
71$5,117,251$3,044,321$2,596,815$3,679,518
72$5,603,579$3,157,861$2,648,178$3,886,387
73$6,138,391$3,275,843$2,700,138$4,109,100
74$6,726,595$3,398,448$2,752,681$4,349,100
75$7,373,603$3,525,866$2,805,790$4,607,973
76$8,085,373$3,658,296$2,859,447$4,887,461
77$8,868,473$3,795,945$2,913,630$5,189,475
78$9,730,138$3,939,027$2,968,318$5,516,117
79$10,678,342$4,087,769$3,023,486$5,869,696
80$11,721,867$4,242,405$3,079,108$6,252,746
81$12,870,394$4,403,179$3,135,154$6,668,056
82$14,134,587$4,570,347$3,191,595$7,118,690
83$15,526,197$4,744,176$3,248,395$7,608,018
84$17,058,173$4,924,944$3,305,520$8,139,741
85$18,744,781$5,112,942$3,362,930$8,717,935
86$20,601,744$5,308,471$3,420,583$9,347,078
87$22,646,385$5,511,849$3,478,435$10,032,096
88$24,897,791$5,723,405$3,536,438$10,778,411
89$27,376,998$5,943,483$3,594,541$11,591,983
90$30,107,182$6,172,444$3,652,688$12,479,374
91$33,113,883$6,410,663$3,710,822$13,447,800
92$36,425,245$6,658,531$3,768,880$14,505,206
93$40,072,278$6,916,457$3,826,796$15,660,332
94$44,089,156$7,184,869$3,884,499$16,922,799
95$48,513,535$7,464,213$3,941,915$18,303,196
96$53,386,910$7,754,954$3,998,964$19,813,178
97$58,755,007$8,057,578$4,055,561$21,465,576
98$64,668,212$8,372,595$4,111,617$23,274,516
99$71,182,051$8,700,533$4,167,037$25,255,548
100$78,357,708$9,041,947$4,221,721$27,425,793