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

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 $2,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$176,719$175,145$173,609$172,110$170,647$164,526
2 years$87,485$85,855$84,276$82,745$81,260$75,161
3 years$57,744$56,107$54,532$53,016$51,555$45,667
4 years$42,876$41,245$39,686$38,195$36,769$31,139
5 years$33,958$32,337$30,798$29,337$27,951$22,593
6 years$28,015$26,405$24,889$23,461$22,117$17,034
7 years$23,771$22,175$20,683$19,289$17,987$13,179
8 years$20,590$19,008$17,541$16,181$14,922$10,384
9 years$18,116$16,550$15,108$13,783$12,567$8,294
10 years$16,139$14,588$13,171$11,881$10,707$6,692
11 years$14,522$12,987$11,596$10,340$9,209$5,442
12 years$13,176$11,656$10,291$9,069$7,980$4,453
13 years$12,038$10,534$9,194$8,007$6,959$3,662
14 years$11,063$9,575$8,261$7,108$6,100$3,023
15 years$10,219$8,747$7,459$6,339$5,371$2,504
16 years$9,481$8,025$6,762$5,676$4,747$2,079
17 years$8,831$7,391$6,154$5,100$4,209$1,730
18 years$8,253$6,829$5,617$4,596$3,742$1,443
19 years$7,737$6,330$5,142$4,153$3,336$1,204
20 years$7,273$5,882$4,719$3,761$2,979$1,007
21 years$6,854$5,479$4,341$3,413$2,666$842
22 years$6,473$5,114$4,001$3,104$2,390$705
23 years$6,127$4,783$3,694$2,826$2,145$591
24 years$5,809$4,481$3,416$2,578$1,928$496
25 years$5,517$4,206$3,164$2,354$1,735$416
26 years$5,248$3,953$2,935$2,153$1,563$349
27 years$5,000$3,720$2,725$1,970$1,409$293
28 years$4,770$3,505$2,533$1,805$1,271$246
29 years$4,556$3,307$2,358$1,655$1,148$207
30 years$4,356$3,123$2,196$1,519$1,037$174
31 years$4,170$2,952$2,047$1,395$938$146
32 years$3,996$2,793$1,910$1,282$848$123
33 years$3,832$2,645$1,783$1,179$768$103
34 years$3,679$2,507$1,666$1,085$695$87
35 years$3,535$2,378$1,558$999$630$73
36 years$3,399$2,257$1,457$920$570$61
37 years$3,271$2,144$1,364$848$517$51
38 years$3,149$2,037$1,277$781$469$43
39 years$3,034$1,937$1,197$720$425$36
40 years$2,926$1,843$1,122$664$386$31
41 years$2,823$1,754$1,052$613$350$26
42 years$2,725$1,671$987$566$317$22
43 years$2,631$1,592$926$522$288$18
44 years$2,543$1,518$869$482$261$15
45 years$2,458$1,447$816$445$237$13
46 years$2,377$1,381$766$411$216$11
47 years$2,301$1,317$720$380$196$9
48 years$2,227$1,258$677$351$178$8
49 years$2,157$1,201$636$325$161$6
50 years$2,089$1,147$598$300$147$5

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 $4,204 every year, while hoping to spend $26,262 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: 78/5/17 Blend
61$2,140,000$2,140,000$2,140,000$2,140,000
62$2,362,616$2,249,196$2,216,026$2,537,745
63$2,575,661$2,331,464$2,262,321$2,736,149
64$2,809,555$2,416,883$2,309,286$2,950,005
65$3,066,399$2,505,580$2,356,916$3,183,878
66$3,348,505$2,597,686$2,405,206$3,439,762
67$3,658,419$2,693,340$2,454,147$3,719,852
68$3,998,948$2,792,684$2,503,731$4,026,567
69$4,373,184$2,895,868$2,553,949$4,362,570
70$4,784,531$3,003,048$2,604,788$4,730,794
71$5,236,741$3,114,386$2,656,237$5,134,471
72$5,733,950$3,230,051$2,708,282$5,577,161
73$6,280,710$3,350,221$2,760,906$6,062,785
74$6,882,039$3,475,078$2,814,094$6,595,662
75$7,543,465$3,604,816$2,867,824$7,180,552
76$8,271,081$3,739,634$2,922,078$7,822,696
77$9,071,595$3,879,740$2,976,832$8,527,871
78$9,952,404$4,025,353$3,032,062$9,302,438
79$10,921,653$4,176,699$3,087,740$10,153,410
80$11,988,320$4,334,016$3,143,838$11,088,508
81$13,162,296$4,497,550$3,200,323$12,116,243
82$14,454,479$4,667,559$3,257,163$13,245,990
83$15,876,878$4,844,311$3,314,320$14,488,080
84$17,442,725$5,028,088$3,371,755$15,853,893
85$19,166,600$5,219,182$3,429,427$17,355,970
86$21,064,569$5,417,898$3,487,288$19,008,130
87$23,154,335$5,624,554$3,545,292$20,825,597
88$25,455,404$5,839,484$3,603,386$22,825,146
89$27,989,270$6,063,034$3,661,515$25,025,262
90$30,779,620$6,295,567$3,719,620$27,446,313
91$33,852,552$6,537,461$3,777,638$30,110,742
92$37,236,825$6,789,109$3,835,502$33,043,277
93$40,964,131$7,050,925$3,893,141$36,271,169
94$45,069,390$7,323,338$3,950,478$39,824,443
95$49,591,083$7,606,797$4,007,435$43,736,186
96$54,571,615$7,901,771$4,063,925$48,042,856
97$60,057,711$8,208,750$4,119,858$52,784,628
98$66,100,863$8,528,243$4,175,138$58,005,771
99$72,757,809$8,860,786$4,229,664$63,755,067
100$80,091,076$9,206,935$4,283,329$70,086,269