Can I retire at age 62 with 2,130,000?

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 $2,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$175,893$174,327$172,798$171,306$169,849$166,352
2 years$87,076$85,454$83,883$82,359$80,881$77,373
3 years$57,474$55,845$54,278$52,768$51,314$47,905
4 years$42,676$41,052$39,500$38,016$36,598$33,315
5 years$33,799$32,185$30,654$29,200$27,821$24,673
6 years$27,884$26,282$24,773$23,352$22,014$19,004
7 years$23,660$22,071$20,586$19,199$17,903$15,032
8 years$20,493$18,919$17,459$16,105$14,852$12,119
9 years$18,032$16,473$15,037$13,718$12,508$9,910
10 years$16,064$14,520$13,110$11,825$10,657$8,193
11 years$14,455$12,926$11,542$10,291$9,166$6,832
12 years$13,115$11,602$10,243$9,027$7,943$5,736
13 years$11,982$10,485$9,151$7,969$6,926$4,843
14 years$11,011$9,530$8,223$7,074$6,071$4,107
15 years$10,171$8,706$7,424$6,309$5,346$3,496
16 years$9,437$7,988$6,731$5,649$4,725$2,986
17 years$8,789$7,356$6,125$5,076$4,189$2,556
18 years$8,215$6,798$5,591$4,574$3,725$2,194
19 years$7,701$6,300$5,118$4,133$3,320$1,886
20 years$7,239$5,854$4,697$3,743$2,966$1,624
21 years$6,822$5,453$4,321$3,397$2,654$1,400
22 years$6,443$5,090$3,982$3,089$2,379$1,209
23 years$6,098$4,761$3,677$2,813$2,135$1,044
24 years$5,782$4,460$3,400$2,566$1,919$903
25 years$5,491$4,186$3,150$2,343$1,727$782
26 years$5,224$3,934$2,921$2,143$1,556$677
27 years$4,977$3,702$2,712$1,961$1,403$587
28 years$4,747$3,489$2,522$1,797$1,266$509
29 years$4,534$3,291$2,347$1,648$1,143$441
30 years$4,336$3,108$2,186$1,512$1,033$383
31 years$4,150$2,938$2,038$1,389$934$332
32 years$3,977$2,780$1,901$1,276$844$288
33 years$3,815$2,633$1,775$1,174$764$250
34 years$3,662$2,495$1,659$1,080$692$217
35 years$3,518$2,367$1,551$994$627$189
36 years$3,383$2,247$1,451$916$568$164
37 years$3,255$2,134$1,358$844$515$142
38 years$3,135$2,028$1,271$778$467$124
39 years$3,020$1,928$1,191$717$423$108
40 years$2,912$1,835$1,117$661$384$94
41 years$2,809$1,746$1,047$610$348$81
42 years$2,712$1,663$982$563$316$71
43 years$2,619$1,585$922$520$287$61
44 years$2,531$1,510$865$480$260$53
45 years$2,447$1,440$812$443$236$46
46 years$2,366$1,374$763$409$215$40
47 years$2,290$1,311$717$378$195$35
48 years$2,217$1,252$674$350$177$30
49 years$2,147$1,195$633$323$161$27
50 years$2,080$1,142$595$299$146$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,130,000, adding $2,778 every year, while hoping to spend $51,397 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: 31/50/19 Blend
61$2,130,000$2,130,000$2,130,000$2,130,000
62$2,350,126$2,237,236$2,204,221$2,408,933
63$2,535,152$2,292,174$2,223,376$2,508,314
64$2,737,329$2,348,082$2,241,450$2,610,362
65$2,958,351$2,404,952$2,258,353$2,719,127
66$3,200,085$2,462,777$2,273,990$2,835,222
67$3,464,585$2,521,544$2,288,260$2,959,324
68$3,754,113$2,581,241$2,301,057$3,092,178
69$4,071,162$2,641,851$2,312,272$3,234,606
70$4,418,475$2,703,356$2,321,788$3,387,513
71$4,799,074$2,765,735$2,329,482$3,551,895
72$5,216,286$2,828,962$2,335,226$3,728,852
73$5,673,776$2,893,010$2,338,885$3,919,594
74$6,175,582$2,957,848$2,340,318$4,125,456
75$6,726,148$3,023,440$2,339,376$4,347,910
76$7,330,373$3,089,747$2,335,903$4,588,578
77$7,993,651$3,156,724$2,329,736$4,849,247
78$8,721,924$3,224,324$2,320,703$5,131,888
79$9,521,739$3,292,494$2,308,624$5,438,675
80$10,400,304$3,361,175$2,293,311$5,772,003
81$11,365,565$3,430,302$2,274,567$6,134,515
82$12,426,272$3,499,806$2,252,185$6,529,121
83$13,592,066$3,569,611$2,225,947$6,959,034
84$14,873,567$3,639,633$2,195,627$7,427,794
85$16,282,478$3,709,781$2,160,987$7,939,303
86$17,831,690$3,779,960$2,121,779$8,497,867
87$19,535,406$3,850,061$2,077,742$9,108,231
88$21,409,274$3,919,971$2,028,604$9,775,628
89$23,470,537$3,989,567$1,974,079$10,505,826
90$25,738,191$4,058,714$1,913,870$11,305,188
91$28,233,165$4,127,270$1,847,663$12,180,727
92$30,978,522$4,195,080$1,775,134$13,140,176
93$33,999,670$4,261,978$1,695,940$14,192,063
94$37,324,608$4,327,787$1,609,725$15,345,788
95$40,984,184$4,392,315$1,516,117$16,611,717
96$45,012,390$4,455,357$1,414,726$18,001,279
97$49,446,679$4,516,695$1,305,145$19,527,074
98$54,328,321$4,576,093$1,186,947$21,202,994
99$59,702,789$4,633,302$1,059,690$23,044,356
100$65,620,193$4,688,052$922,908$25,068,046