Can I retire at age 62 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.9%
1 years$175,068$173,508$171,987$170,502$169,052$163,640
2 years$86,667$85,053$83,489$81,972$80,501$75,099
3 years$57,204$55,583$54,023$52,520$51,073$45,850
4 years$42,476$40,859$39,315$37,838$36,426$31,422
5 years$33,641$32,034$30,510$29,063$27,690$22,918
6 years$27,753$26,158$24,656$23,242$21,910$17,375
7 years$23,549$21,968$20,490$19,109$17,819$13,519
8 years$20,397$18,830$17,377$16,030$14,783$10,716
9 years$17,947$16,395$14,967$13,654$12,449$8,611
10 years$15,988$14,452$13,048$11,770$10,607$6,991
11 years$14,387$12,865$11,488$10,243$9,123$5,723
12 years$13,053$11,547$10,195$8,985$7,905$4,714
13 years$11,925$10,435$9,108$7,932$6,894$3,903
14 years$10,960$9,486$8,184$7,041$6,043$3,245
15 years$10,123$8,665$7,389$6,280$5,321$2,707
16 years$9,392$7,950$6,699$5,623$4,702$2,264
17 years$8,748$7,322$6,096$5,052$4,170$1,898
18 years$8,176$6,766$5,565$4,553$3,707$1,594
19 years$7,665$6,270$5,094$4,114$3,304$1,341
20 years$7,205$5,827$4,675$3,726$2,952$1,130
21 years$6,790$5,427$4,300$3,381$2,641$952
22 years$6,413$5,066$3,964$3,075$2,368$804
23 years$6,069$4,738$3,660$2,800$2,125$679
24 years$5,755$4,440$3,385$2,554$1,910$574
25 years$5,466$4,166$3,135$2,332$1,719$485
26 years$5,199$3,916$2,907$2,132$1,548$411
27 years$4,953$3,685$2,700$1,952$1,396$348
28 years$4,725$3,472$2,510$1,788$1,260$294
29 years$4,513$3,276$2,336$1,640$1,137$249
30 years$4,315$3,094$2,175$1,505$1,028$211
31 years$4,131$2,925$2,028$1,382$929$179
32 years$3,958$2,767$1,892$1,270$840$152
33 years$3,797$2,621$1,767$1,168$761$128
34 years$3,645$2,484$1,651$1,075$689$109
35 years$3,502$2,356$1,543$989$624$92
36 years$3,367$2,236$1,444$911$565$78
37 years$3,240$2,124$1,351$840$512$66
38 years$3,120$2,018$1,266$774$464$56
39 years$3,006$1,919$1,186$714$421$48
40 years$2,898$1,826$1,111$658$382$40
41 years$2,796$1,738$1,042$607$347$34
42 years$2,699$1,655$977$560$314$29
43 years$2,607$1,577$917$517$285$25
44 years$2,519$1,503$861$478$259$21
45 years$2,435$1,434$808$441$235$18
46 years$2,355$1,368$759$407$214$15
47 years$2,279$1,305$713$376$194$13
48 years$2,206$1,246$670$348$176$11
49 years$2,137$1,190$630$321$160$9
50 years$2,070$1,137$592$297$145$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,120,000, adding $2,371 every year, while hoping to spend $56,741 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: 62/22/16 Blend
61$2,120,000$2,120,000$2,120,000$2,120,000
62$2,338,686$2,226,326$2,193,466$2,474,192
63$2,516,860$2,275,044$2,206,575$2,614,325
64$2,711,306$2,324,247$2,218,221$2,760,611
65$2,923,623$2,373,900$2,228,296$2,918,955
66$3,155,574$2,423,962$2,236,686$3,090,535
67$3,409,097$2,474,391$2,243,269$3,276,644
68$3,686,326$2,525,137$2,247,919$3,478,709
69$3,989,612$2,576,149$2,250,505$3,698,302
70$4,321,542$2,627,370$2,250,887$3,937,156
71$4,684,966$2,678,738$2,248,919$4,197,179
72$5,083,023$2,730,186$2,244,447$4,480,474
73$5,519,167$2,781,641$2,237,312$4,789,360
74$5,997,205$2,833,024$2,227,345$5,126,390
75$6,521,327$2,884,250$2,214,368$5,494,380
76$7,096,151$2,935,227$2,198,198$5,896,432
77$7,726,761$2,985,855$2,178,640$6,335,966
78$8,418,757$3,036,029$2,155,491$6,816,749
79$9,178,309$3,085,633$2,128,539$7,342,936
80$10,012,211$3,134,544$2,097,560$7,919,105
81$10,927,949$3,182,629$2,062,321$8,550,300
82$11,933,770$3,229,747$2,022,578$9,242,082
83$13,038,755$3,275,746$1,978,076$10,000,582
84$14,252,914$3,320,463$1,928,546$10,832,553
85$15,587,268$3,363,723$1,873,710$11,745,443
86$17,053,965$3,405,341$1,813,275$12,747,459
87$18,666,384$3,445,117$1,746,933$13,847,645
88$20,439,266$3,482,839$1,674,367$15,055,972
89$22,388,852$3,518,279$1,595,240$16,383,431
90$24,533,038$3,551,197$1,509,203$17,842,131
91$26,891,536$3,581,335$1,415,890$19,445,426
92$29,486,070$3,608,417$1,314,919$21,208,028
93$32,340,571$3,632,152$1,205,891$23,146,157
94$35,481,410$3,652,227$1,088,388$25,277,689
95$38,937,640$3,668,313$961,975$27,622,327
96$42,741,275$3,680,056$826,197$30,201,788
97$46,927,588$3,687,082$680,579$33,040,007
98$51,535,447$3,688,994$524,623$36,163,366
99$56,607,677$3,685,369$357,812$39,600,943
100$62,191,466$3,675,758$179,604$43,384,786