Can I retire at age 62 with 2,150,000?

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 $2,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$177,545$175,964$174,421$172,915$171,444$169,937
2 years$87,894$86,257$84,670$83,132$81,640$80,121
3 years$58,014$56,370$54,787$53,263$51,796$50,312
4 years$43,077$41,438$39,871$38,373$36,941$35,505
5 years$34,117$32,488$30,942$29,474$28,082$26,697
6 years$28,145$26,529$25,005$23,571$22,220$20,888
7 years$23,882$22,279$20,780$19,379$18,071$16,792
8 years$20,686$19,097$17,623$16,257$14,992$13,766
9 years$18,201$16,627$15,178$13,847$12,625$11,453
10 years$16,215$14,656$13,233$11,936$10,757$9,637
11 years$14,590$13,048$11,650$10,388$9,252$8,183
12 years$13,238$11,711$10,339$9,112$8,017$6,999
13 years$12,094$10,583$9,237$8,044$6,991$6,022
14 years$11,115$9,620$8,300$7,141$6,128$5,208
15 years$10,267$8,788$7,494$6,368$5,396$4,522
16 years$9,525$8,063$6,794$5,702$4,769$3,940
17 years$8,872$7,425$6,182$5,123$4,229$3,444
18 years$8,292$6,861$5,644$4,617$3,760$3,017
19 years$7,773$6,359$5,166$4,172$3,351$2,650
20 years$7,307$5,909$4,742$3,779$2,993$2,331
21 years$6,886$5,504$4,361$3,429$2,679$2,055
22 years$6,504$5,138$4,020$3,118$2,401$1,813
23 years$6,155$4,805$3,711$2,840$2,155$1,602
24 years$5,836$4,502$3,432$2,590$1,937$1,417
25 years$5,543$4,225$3,179$2,365$1,743$1,255
26 years$5,273$3,971$2,948$2,163$1,570$1,112
27 years$5,023$3,737$2,738$1,980$1,416$986
28 years$4,792$3,522$2,545$1,814$1,277$875
29 years$4,577$3,322$2,369$1,663$1,153$777
30 years$4,376$3,137$2,206$1,526$1,042$691
31 years$4,189$2,966$2,057$1,402$942$614
32 years$4,014$2,806$1,919$1,288$852$546
33 years$3,850$2,658$1,792$1,185$771$486
34 years$3,696$2,519$1,674$1,090$698$432
35 years$3,551$2,389$1,565$1,003$633$385
36 years$3,415$2,268$1,464$924$573$342
37 years$3,286$2,154$1,370$852$519$305
38 years$3,164$2,047$1,283$785$471$271
39 years$3,049$1,946$1,202$724$427$242
40 years$2,939$1,852$1,127$667$387$215
41 years$2,836$1,763$1,057$616$351$192
42 years$2,737$1,679$991$568$319$171
43 years$2,644$1,599$930$525$289$152
44 years$2,555$1,525$873$484$263$136
45 years$2,470$1,454$820$447$238$121
46 years$2,389$1,387$770$413$217$108
47 years$2,311$1,324$723$382$197$96
48 years$2,237$1,264$680$353$179$86
49 years$2,167$1,207$639$326$162$77
50 years$2,099$1,153$601$301$147$68

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,150,000, adding $4,668 every year, while hoping to spend $25,413 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: 44/49/7 Blend
61$2,150,000$2,150,000$2,150,000$2,150,000
62$2,374,115$2,260,165$2,226,840$2,473,666
63$2,589,236$2,343,874$2,274,400$2,626,711
64$2,825,447$2,430,833$2,322,701$2,789,498
65$3,084,873$2,521,174$2,371,742$2,965,335
66$3,369,854$2,615,036$2,421,520$3,155,428
67$3,682,968$2,712,562$2,472,030$3,361,101
68$4,027,056$2,813,903$2,523,268$3,583,808
69$4,405,247$2,919,215$2,575,229$3,825,146
70$4,820,987$3,028,661$2,627,903$4,086,871
71$5,278,074$3,142,411$2,681,285$4,370,909
72$5,780,692$3,260,644$2,735,362$4,679,382
73$6,333,451$3,383,545$2,790,126$5,014,618
74$6,941,431$3,511,306$2,845,563$5,379,179
75$7,610,226$3,644,129$2,901,658$5,775,880
76$8,346,003$3,782,225$2,958,397$6,207,819
77$9,155,554$3,925,813$3,015,763$6,678,401
78$10,046,364$4,075,122$3,073,735$7,191,371
79$11,026,681$4,230,391$3,132,293$7,750,850
80$12,105,592$4,391,869$3,191,413$8,361,370
81$13,293,108$4,559,816$3,251,072$9,027,918
82$14,600,262$4,734,505$3,311,240$9,755,982
83$16,039,211$4,916,217$3,371,888$10,551,598
84$17,623,349$5,105,250$3,432,984$11,421,412
85$19,367,435$5,301,912$3,494,494$12,372,737
86$21,287,732$5,506,525$3,556,379$13,413,621
87$23,402,162$5,719,426$3,618,599$14,552,924
88$25,730,471$5,940,966$3,681,110$15,800,399
89$28,294,418$6,171,512$3,743,866$17,166,780
90$31,117,979$6,411,447$3,806,817$18,663,888
91$34,227,577$6,661,171$3,869,908$20,304,735
92$37,652,323$6,921,102$3,933,084$22,103,648
93$41,424,300$7,191,676$3,996,282$24,076,403
94$45,578,859$7,473,349$4,059,438$26,240,371
95$50,154,955$7,766,595$4,122,481$28,614,680
96$55,195,515$8,071,913$4,185,339$31,220,394
97$60,747,842$8,389,822$4,247,933$34,080,711
98$66,864,062$8,720,862$4,310,178$37,221,180
99$73,601,614$9,065,602$4,371,987$40,669,935
100$81,023,795$9,424,633$4,433,265$44,457,966