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%15.4%
1 years$172,590$171,053$169,553$168,089$166,660$162,962
2 years$85,441$83,849$82,307$80,812$79,362$75,655
3 years$56,395$54,797$53,258$51,777$50,350$46,751
4 years$41,874$40,281$38,758$37,302$35,910$32,446
5 years$33,165$31,581$30,078$28,652$27,298$23,979
6 years$27,360$25,788$24,308$22,913$21,600$18,429
7 years$23,215$21,657$20,200$18,838$17,567$14,545
8 years$20,108$18,564$17,131$15,803$14,573$11,699
9 years$17,693$16,163$14,755$13,461$12,273$9,544
10 years$15,762$14,247$12,864$11,603$10,457$7,871
11 years$14,183$12,683$11,325$10,098$8,993$6,546
12 years$12,868$11,384$10,051$8,857$7,794$5,482
13 years$11,757$10,288$8,980$7,820$6,796$4,616
14 years$10,804$9,351$8,068$6,942$5,957$3,904
15 years$9,980$8,543$7,284$6,191$5,245$3,314
16 years$9,259$7,838$6,604$5,543$4,636$2,822
17 years$8,624$7,218$6,010$4,980$4,111$2,409
18 years$8,060$6,670$5,486$4,488$3,655$2,062
19 years$7,556$6,182$5,022$4,056$3,258$1,767
20 years$7,103$5,744$4,609$3,673$2,910$1,517
21 years$6,694$5,351$4,240$3,334$2,604$1,304
22 years$6,322$4,995$3,907$3,031$2,334$1,122
23 years$5,983$4,671$3,608$2,760$2,095$967
24 years$5,673$4,377$3,337$2,518$1,883$833
25 years$5,388$4,107$3,090$2,299$1,695$719
26 years$5,126$3,860$2,866$2,102$1,526$621
27 years$4,883$3,633$2,662$1,924$1,376$536
28 years$4,658$3,423$2,474$1,763$1,242$463
29 years$4,449$3,229$2,302$1,617$1,121$400
30 years$4,254$3,050$2,145$1,484$1,013$346
31 years$4,072$2,883$1,999$1,363$916$299
32 years$3,902$2,728$1,865$1,252$829$259
33 years$3,743$2,584$1,742$1,152$750$224
34 years$3,593$2,449$1,627$1,060$679$194
35 years$3,452$2,322$1,522$975$615$168
36 years$3,319$2,204$1,423$898$557$145
37 years$3,194$2,094$1,332$828$505$126
38 years$3,076$1,990$1,248$763$458$109
39 years$2,964$1,892$1,169$703$415$94
40 years$2,857$1,800$1,096$649$377$82
41 years$2,757$1,714$1,027$599$342$71
42 years$2,661$1,632$964$552$310$61
43 years$2,570$1,555$904$510$281$53
44 years$2,483$1,482$849$471$255$46
45 years$2,401$1,413$797$435$232$40
46 years$2,322$1,348$749$402$210$35
47 years$2,247$1,287$703$371$191$30
48 years$2,175$1,228$661$343$174$26
49 years$2,106$1,173$621$317$158$22
50 years$2,041$1,120$584$293$143$19

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 $4,411 every year, while hoping to spend $38,012 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: 45/49/6 Blend
61$2,090,000$2,090,000$2,090,000$2,090,000
62$2,307,730$2,196,960$2,164,565$2,407,560
63$2,502,674$2,264,167$2,196,633$2,544,002
64$2,716,228$2,333,392$2,228,502$2,687,554
65$2,950,251$2,404,696$2,260,124$2,842,312
66$3,206,788$2,478,138$2,291,450$3,009,319
67$3,488,094$2,553,780$2,322,428$3,189,721
68$3,796,651$2,631,687$2,353,000$3,384,779
69$4,135,193$2,711,923$2,383,109$3,595,878
70$4,506,732$2,794,556$2,412,693$3,824,544
71$4,914,585$2,879,656$2,441,684$4,072,451
72$5,362,406$2,967,292$2,470,014$4,341,446
73$5,854,221$3,057,539$2,497,609$4,633,557
74$6,394,464$3,150,470$2,524,391$4,951,017
75$6,988,019$3,246,163$2,550,278$5,296,282
76$7,640,268$3,344,697$2,575,184$5,672,057
77$8,357,141$3,446,152$2,599,017$6,081,318
78$9,145,167$3,550,612$2,621,683$6,527,341
79$10,011,544$3,658,161$2,643,079$7,013,731
80$10,964,198$3,768,888$2,663,099$7,544,459
81$12,011,865$3,882,883$2,681,631$8,123,896
82$13,164,168$4,000,236$2,698,558$8,756,853
83$14,431,708$4,121,043$2,713,755$9,448,630
84$15,826,169$4,245,401$2,727,092$10,205,062
85$17,360,421$4,373,408$2,738,433$11,032,574
86$19,048,647$4,505,168$2,747,633$11,938,242
87$20,906,471$4,640,783$2,754,541$12,929,860
88$22,951,112$4,780,363$2,758,999$14,016,012
89$25,201,540$4,924,015$2,760,840$15,206,151
90$27,678,658$5,071,852$2,759,889$16,510,690
91$30,405,498$5,223,991$2,755,963$17,941,099
92$33,407,441$5,380,548$2,748,869$19,510,013
93$36,712,450$5,541,645$2,738,406$21,231,348
94$40,351,339$5,707,405$2,724,362$23,120,438
95$44,358,063$5,877,955$2,706,516$25,194,170
96$48,770,036$6,053,425$2,684,635$27,471,151
97$53,628,485$6,233,948$2,658,475$29,971,879
98$58,978,838$6,419,660$2,627,782$32,718,937
99$64,871,156$6,610,699$2,592,289$35,737,203
100$71,360,599$6,807,208$2,551,715$39,054,090