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

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 $2,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$177,545$175,964$174,421$172,915$171,444$167,640
2 years$87,894$86,257$84,670$83,132$81,640$77,827
3 years$58,014$56,370$54,787$53,263$51,796$48,093
4 years$43,077$41,438$39,871$38,373$36,941$33,378
5 years$34,117$32,488$30,942$29,474$28,082$24,668
6 years$28,145$26,529$25,005$23,571$22,220$18,958
7 years$23,882$22,279$20,780$19,379$18,071$14,962
8 years$20,686$19,097$17,623$16,257$14,992$12,035
9 years$18,201$16,627$15,178$13,847$12,625$9,818
10 years$16,215$14,656$13,233$11,936$10,757$8,097
11 years$14,590$13,048$11,650$10,388$9,252$6,734
12 years$13,238$11,711$10,339$9,112$8,017$5,639
13 years$12,094$10,583$9,237$8,044$6,991$4,748
14 years$11,115$9,620$8,300$7,141$6,128$4,016
15 years$10,267$8,788$7,494$6,368$5,396$3,409
16 years$9,525$8,063$6,794$5,702$4,769$2,903
17 years$8,872$7,425$6,182$5,123$4,229$2,479
18 years$8,292$6,861$5,644$4,617$3,760$2,121
19 years$7,773$6,359$5,166$4,172$3,351$1,818
20 years$7,307$5,909$4,742$3,779$2,993$1,561
21 years$6,886$5,504$4,361$3,429$2,679$1,341
22 years$6,504$5,138$4,020$3,118$2,401$1,154
23 years$6,155$4,805$3,711$2,840$2,155$994
24 years$5,836$4,502$3,432$2,590$1,937$857
25 years$5,543$4,225$3,179$2,365$1,743$740
26 years$5,273$3,971$2,948$2,163$1,570$638
27 years$5,023$3,737$2,738$1,980$1,416$551
28 years$4,792$3,522$2,545$1,814$1,277$477
29 years$4,577$3,322$2,369$1,663$1,153$412
30 years$4,376$3,137$2,206$1,526$1,042$356
31 years$4,189$2,966$2,057$1,402$942$308
32 years$4,014$2,806$1,919$1,288$852$267
33 years$3,850$2,658$1,792$1,185$771$231
34 years$3,696$2,519$1,674$1,090$698$200
35 years$3,551$2,389$1,565$1,003$633$173
36 years$3,415$2,268$1,464$924$573$150
37 years$3,286$2,154$1,370$852$519$130
38 years$3,164$2,047$1,283$785$471$112
39 years$3,049$1,946$1,202$724$427$97
40 years$2,939$1,852$1,127$667$387$84
41 years$2,836$1,763$1,057$616$351$73
42 years$2,737$1,679$991$568$319$63
43 years$2,644$1,599$930$525$289$55
44 years$2,555$1,525$873$484$263$47
45 years$2,470$1,454$820$447$238$41
46 years$2,389$1,387$770$413$217$36
47 years$2,311$1,324$723$382$197$31
48 years$2,237$1,264$680$353$179$27
49 years$2,167$1,207$639$326$162$23
50 years$2,099$1,153$601$301$147$20

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 $6,398 every year, while hoping to spend $31,587 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: 74/10/16 Blend
61$2,150,000$2,150,000$2,150,000$2,150,000
62$2,375,900$2,261,950$2,228,625$2,542,737
63$2,584,633$2,339,177$2,269,675$2,731,291
64$2,813,599$2,419,129$2,311,042$2,933,326
65$3,064,827$2,501,908$2,352,703$3,153,864
66$3,340,554$2,587,616$2,394,633$3,394,735
67$3,643,243$2,676,362$2,436,806$3,657,954
68$3,975,608$2,768,258$2,479,193$3,945,743
69$4,340,638$2,863,420$2,521,764$4,260,546
70$4,741,625$2,961,971$2,564,486$4,605,055
71$5,182,199$3,064,035$2,607,324$4,982,237
72$5,666,354$3,169,743$2,650,240$5,395,357
73$6,198,493$3,279,232$2,693,194$5,848,014
74$6,783,467$3,392,641$2,736,144$6,344,171
75$7,426,619$3,510,119$2,779,043$6,888,194
76$8,133,836$3,631,818$2,821,843$7,484,891
77$8,911,605$3,757,895$2,864,493$8,139,560
78$9,767,073$3,888,515$2,906,938$8,858,038
79$10,708,112$4,023,851$2,949,118$9,646,753
80$11,743,399$4,164,078$2,990,973$10,512,788
81$12,882,491$4,309,384$3,032,436$11,463,948
82$14,135,921$4,459,959$3,073,438$12,508,829
83$15,515,292$4,616,004$3,113,905$13,656,902
84$17,033,390$4,777,727$3,153,759$14,918,605
85$18,704,304$4,945,343$3,192,918$16,305,434
86$20,543,556$5,119,078$3,231,294$17,830,058
87$22,568,252$5,299,166$3,268,795$19,506,434
88$24,797,238$5,485,850$3,305,325$21,349,943
89$27,251,282$5,679,382$3,340,779$23,377,528
90$29,953,267$5,880,026$3,375,049$25,607,860
91$32,928,409$6,088,056$3,408,022$28,061,514
92$36,204,493$6,303,757$3,439,577$30,761,155
93$39,812,134$6,527,424$3,469,586$33,731,763
94$43,785,071$6,759,367$3,497,916$37,000,859
95$48,160,479$6,999,907$3,524,427$40,598,771
96$52,979,322$7,249,376$3,548,969$44,558,913
97$58,286,741$7,508,124$3,571,388$48,918,110
98$64,132,477$7,776,511$3,591,518$53,716,934
99$70,571,345$8,054,915$3,609,189$59,000,097
100$77,663,743$8,343,727$3,624,218$64,816,865