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%11.7%
1 years$175,068$173,508$171,987$170,502$169,052$167,846
2 years$86,667$85,053$83,489$81,972$80,501$79,285
3 years$57,204$55,583$54,023$52,520$51,073$49,884
4 years$42,476$40,859$39,315$37,838$36,426$35,274
5 years$33,641$32,034$30,510$29,063$27,690$26,579
6 years$27,753$26,158$24,656$23,242$21,910$20,840
7 years$23,549$21,968$20,490$19,109$17,819$16,791
8 years$20,397$18,830$17,377$16,030$14,783$13,796
9 years$17,947$16,395$14,967$13,654$12,449$11,505
10 years$15,988$14,452$13,048$11,770$10,607$9,704
11 years$14,387$12,865$11,488$10,243$9,123$8,260
12 years$13,053$11,547$10,195$8,985$7,905$7,083
13 years$11,925$10,435$9,108$7,932$6,894$6,110
14 years$10,960$9,486$8,184$7,041$6,043$5,298
15 years$10,123$8,665$7,389$6,280$5,321$4,612
16 years$9,392$7,950$6,699$5,623$4,702$4,030
17 years$8,748$7,322$6,096$5,052$4,170$3,532
18 years$8,176$6,766$5,565$4,553$3,707$3,104
19 years$7,665$6,270$5,094$4,114$3,304$2,733
20 years$7,205$5,827$4,675$3,726$2,952$2,412
21 years$6,790$5,427$4,300$3,381$2,641$2,132
22 years$6,413$5,066$3,964$3,075$2,368$1,887
23 years$6,069$4,738$3,660$2,800$2,125$1,673
24 years$5,755$4,440$3,385$2,554$1,910$1,484
25 years$5,466$4,166$3,135$2,332$1,719$1,318
26 years$5,199$3,916$2,907$2,132$1,548$1,172
27 years$4,953$3,685$2,700$1,952$1,396$1,043
28 years$4,725$3,472$2,510$1,788$1,260$928
29 years$4,513$3,276$2,336$1,640$1,137$827
30 years$4,315$3,094$2,175$1,505$1,028$737
31 years$4,131$2,925$2,028$1,382$929$657
32 years$3,958$2,767$1,892$1,270$840$586
33 years$3,797$2,621$1,767$1,168$761$523
34 years$3,645$2,484$1,651$1,075$689$467
35 years$3,502$2,356$1,543$989$624$417
36 years$3,367$2,236$1,444$911$565$373
37 years$3,240$2,124$1,351$840$512$333
38 years$3,120$2,018$1,266$774$464$298
39 years$3,006$1,919$1,186$714$421$266
40 years$2,898$1,826$1,111$658$382$238
41 years$2,796$1,738$1,042$607$347$213
42 years$2,699$1,655$977$560$314$190
43 years$2,607$1,577$917$517$285$170
44 years$2,519$1,503$861$478$259$152
45 years$2,435$1,434$808$441$235$136
46 years$2,355$1,368$759$407$214$122
47 years$2,279$1,305$713$376$194$109
48 years$2,206$1,246$670$348$176$97
49 years$2,137$1,190$630$321$160$87
50 years$2,070$1,137$592$297$145$78

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 $5,764 every year, while hoping to spend $38,532 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: 45/39/16 Blend
61$2,120,000$2,120,000$2,120,000$2,120,000
62$2,342,186$2,229,826$2,196,966$2,436,606
63$2,540,091$2,298,089$2,229,566$2,571,368
64$2,756,891$2,368,406$2,261,967$2,713,096
65$2,994,472$2,440,837$2,294,122$2,865,955
66$3,254,913$2,515,443$2,325,980$3,030,995
67$3,540,502$2,592,287$2,357,487$3,209,365
68$3,853,758$2,671,434$2,388,589$3,402,335
69$4,197,459$2,752,952$2,419,223$3,611,298
70$4,574,661$2,836,908$2,449,329$3,837,787
71$4,988,734$2,923,373$2,478,839$4,083,493
72$5,443,387$3,012,421$2,507,682$4,350,271
73$5,942,707$3,104,124$2,535,784$4,640,168
74$6,491,197$3,198,560$2,563,067$4,955,434
75$7,093,816$3,295,807$2,589,447$5,298,548
76$7,756,029$3,395,945$2,614,837$5,672,237
77$8,483,855$3,499,057$2,639,144$6,079,505
78$9,283,925$3,605,228$2,662,273$6,523,661
79$10,163,546$3,714,545$2,684,120$7,008,345
80$11,130,767$3,827,097$2,704,578$7,537,568
81$12,194,457$3,942,977$2,723,533$8,115,748
82$13,364,387$4,062,277$2,740,866$8,747,748
83$14,651,321$4,185,096$2,756,452$9,438,926
84$16,067,121$4,311,531$2,770,158$10,195,183
85$17,624,856$4,441,684$2,781,847$11,023,017
86$19,338,924$4,575,660$2,791,372$11,929,590
87$21,225,193$4,713,565$2,798,581$12,922,786
88$23,301,142$4,855,509$2,803,312$14,011,294
89$25,586,033$5,001,604$2,805,399$15,204,683
90$28,101,091$5,151,966$2,804,662$16,513,496
91$30,869,702$5,306,711$2,800,918$17,949,349
92$33,917,633$5,465,962$2,793,970$19,525,036
93$37,273,278$5,629,841$2,783,615$21,254,657
94$40,967,925$5,798,475$2,769,638$23,153,741
95$45,036,048$5,971,996$2,751,816$25,239,403
96$49,515,636$6,150,534$2,729,913$27,530,496
97$54,448,548$6,334,227$2,703,682$30,047,793
98$59,880,910$6,523,214$2,672,865$32,814,183
99$65,863,549$6,717,638$2,637,192$35,854,884
100$72,452,473$6,917,644$2,596,380$39,197,685