Can I retire at age 62 with 2,140,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$176,719$175,145$173,609$172,110$170,647$163,811
2 years$87,485$85,855$84,276$82,745$81,260$74,460
3 years$57,744$56,107$54,532$53,016$51,555$45,003
4 years$42,876$41,245$39,686$38,195$36,769$30,516
5 years$33,958$32,337$30,798$29,337$27,951$22,013
6 years$28,015$26,405$24,889$23,461$22,117$16,497
7 years$23,771$22,175$20,683$19,289$17,987$12,683
8 years$20,590$19,008$17,541$16,181$14,922$9,929
9 years$18,116$16,550$15,108$13,783$12,567$7,876
10 years$16,139$14,588$13,171$11,881$10,707$6,310
11 years$14,522$12,987$11,596$10,340$9,209$5,095
12 years$13,176$11,656$10,291$9,069$7,980$4,139
13 years$12,038$10,534$9,194$8,007$6,959$3,378
14 years$11,063$9,575$8,261$7,108$6,100$2,767
15 years$10,219$8,747$7,459$6,339$5,371$2,274
16 years$9,481$8,025$6,762$5,676$4,747$1,873
17 years$8,831$7,391$6,154$5,100$4,209$1,546
18 years$8,253$6,829$5,617$4,596$3,742$1,279
19 years$7,737$6,330$5,142$4,153$3,336$1,059
20 years$7,273$5,882$4,719$3,761$2,979$877
21 years$6,854$5,479$4,341$3,413$2,666$728
22 years$6,473$5,114$4,001$3,104$2,390$604
23 years$6,127$4,783$3,694$2,826$2,145$502
24 years$5,809$4,481$3,416$2,578$1,928$417
25 years$5,517$4,206$3,164$2,354$1,735$347
26 years$5,248$3,953$2,935$2,153$1,563$289
27 years$5,000$3,720$2,725$1,970$1,409$240
28 years$4,770$3,505$2,533$1,805$1,271$200
29 years$4,556$3,307$2,358$1,655$1,148$166
30 years$4,356$3,123$2,196$1,519$1,037$139
31 years$4,170$2,952$2,047$1,395$938$115
32 years$3,996$2,793$1,910$1,282$848$96
33 years$3,832$2,645$1,783$1,179$768$80
34 years$3,679$2,507$1,666$1,085$695$67
35 years$3,535$2,378$1,558$999$630$56
36 years$3,399$2,257$1,457$920$570$46
37 years$3,271$2,144$1,364$848$517$39
38 years$3,149$2,037$1,277$781$469$32
39 years$3,034$1,937$1,197$720$425$27
40 years$2,926$1,843$1,122$664$386$22
41 years$2,823$1,754$1,052$613$350$19
42 years$2,725$1,671$987$566$317$15
43 years$2,631$1,592$926$522$288$13
44 years$2,543$1,518$869$482$261$11
45 years$2,458$1,447$816$445$237$9
46 years$2,377$1,381$766$411$216$7
47 years$2,301$1,317$720$380$196$6
48 years$2,227$1,258$677$351$178$5
49 years$2,157$1,201$636$325$161$4
50 years$2,089$1,147$598$300$147$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,140,000, adding $3,854 every year, while hoping to spend $45,501 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: 47/28/25 Blend
61$2,140,000$2,140,000$2,140,000$2,140,000
62$2,362,255$2,248,835$2,215,665$2,456,229
63$2,554,793$2,310,616$2,241,477$2,584,436
64$2,765,444$2,373,898$2,266,629$2,718,733
65$2,996,008$2,438,708$2,291,051$2,863,608
66$3,248,468$2,505,072$2,314,667$3,020,075
67$3,525,005$2,573,013$2,337,402$3,189,251
68$3,828,022$2,642,557$2,359,171$3,372,368
69$4,160,166$2,713,728$2,379,889$3,570,780
70$4,524,351$2,786,550$2,399,464$3,785,982
71$4,923,789$2,861,045$2,417,801$4,019,618
72$5,362,015$2,937,236$2,434,796$4,273,500
73$5,842,925$3,015,144$2,450,346$4,549,624
74$6,370,807$3,094,790$2,464,336$4,850,190
75$6,950,388$3,176,194$2,476,651$5,177,620
76$7,586,874$3,259,374$2,487,165$5,534,585
77$8,286,000$3,344,347$2,495,749$5,924,026
78$9,054,082$3,431,130$2,502,267$6,349,185
79$9,898,080$3,519,738$2,506,575$6,813,634
80$10,825,661$3,610,182$2,508,522$7,321,309
81$11,845,271$3,702,474$2,507,950$7,876,548
82$12,966,217$3,796,623$2,504,695$8,484,129
83$14,198,750$3,892,636$2,498,581$9,149,321
84$15,554,166$3,990,519$2,489,427$9,877,929
85$17,044,909$4,090,273$2,477,041$10,676,349
86$18,684,691$4,191,897$2,461,223$11,551,631
87$20,488,619$4,295,389$2,441,763$12,511,545
88$22,473,337$4,400,742$2,418,441$13,564,653
89$24,657,184$4,507,946$2,391,026$14,720,391
90$27,060,369$4,616,987$2,359,277$15,989,161
91$29,705,156$4,727,848$2,322,942$17,382,422
92$32,616,076$4,840,507$2,281,755$18,912,807
93$35,820,161$4,954,938$2,235,439$20,594,237
94$39,347,197$5,071,109$2,183,705$22,442,056
95$43,230,001$5,188,983$2,126,250$24,473,172
96$47,504,738$5,308,520$2,062,756$26,706,222
97$52,211,254$5,429,670$1,992,891$29,161,745
98$57,393,456$5,552,379$1,916,307$31,862,377
99$63,099,729$5,676,585$1,832,643$34,833,065
100$69,383,383$5,802,220$1,741,519$38,101,304