Can I retire at age 62 with 2,170,000?

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 $2,170,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.2%
1 years$179,197$177,600$176,043$174,523$173,039$170,735
2 years$88,711$87,059$85,458$83,905$82,399$80,082
3 years$58,553$56,894$55,297$53,759$52,278$50,019
4 years$43,477$41,823$40,242$38,730$37,285$35,102
5 years$34,434$32,790$31,229$29,749$28,343$26,243
6 years$28,407$26,775$25,238$23,790$22,427$20,411
7 years$24,104$22,486$20,973$19,559$18,239$16,309
8 years$20,878$19,275$17,787$16,408$15,131$13,286
9 years$18,370$16,782$15,320$13,976$12,743$10,982
10 years$16,365$14,793$13,356$12,047$10,857$9,180
11 years$14,726$13,169$11,758$10,485$9,338$7,741
12 years$13,361$11,820$10,435$9,196$8,092$6,575
13 years$12,207$10,682$9,323$8,119$7,056$5,618
14 years$11,218$9,709$8,377$7,207$6,185$4,822
15 years$10,362$8,870$7,563$6,428$5,446$4,156
16 years$9,614$8,138$6,857$5,755$4,813$3,594
17 years$8,954$7,494$6,240$5,171$4,268$3,117
18 years$8,369$6,925$5,696$4,660$3,795$2,710
19 years$7,846$6,418$5,215$4,211$3,382$2,361
20 years$7,375$5,964$4,786$3,814$3,021$2,060
21 years$6,950$5,555$4,402$3,461$2,704$1,801
22 years$6,564$5,186$4,057$3,147$2,423$1,576
23 years$6,212$4,850$3,746$2,866$2,175$1,381
24 years$5,890$4,544$3,464$2,614$1,955$1,211
25 years$5,595$4,265$3,209$2,387$1,759$1,064
26 years$5,322$4,008$2,976$2,183$1,585$934
27 years$5,070$3,772$2,763$1,998$1,429$821
28 years$4,836$3,554$2,569$1,831$1,289$723
29 years$4,619$3,353$2,391$1,679$1,164$636
30 years$4,417$3,167$2,227$1,541$1,052$560
31 years$4,228$2,994$2,076$1,415$951$493
32 years$4,052$2,832$1,937$1,300$860$435
33 years$3,886$2,682$1,808$1,196$779$383
34 years$3,731$2,542$1,690$1,100$705$338
35 years$3,584$2,411$1,580$1,013$638$298
36 years$3,446$2,289$1,478$933$578$263
37 years$3,316$2,174$1,383$859$524$232
38 years$3,193$2,066$1,295$792$475$204
39 years$3,077$1,964$1,214$730$431$180
40 years$2,967$1,869$1,138$674$391$159
41 years$2,862$1,779$1,067$622$355$141
42 years$2,763$1,694$1,001$574$322$124
43 years$2,668$1,614$939$530$292$110
44 years$2,578$1,539$881$489$265$97
45 years$2,493$1,467$827$452$241$85
46 years$2,411$1,400$777$417$219$75
47 years$2,333$1,336$730$385$198$67
48 years$2,258$1,275$686$356$180$59
49 years$2,187$1,218$645$329$164$52
50 years$2,119$1,163$606$304$149$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,170,000, adding $5,825 every year, while hoping to spend $51,178 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: 43/49/8 Blend
61$2,170,000$2,170,000$2,170,000$2,170,000
62$2,397,348$2,282,338$2,248,703$2,494,651
63$2,587,425$2,339,720$2,269,582$2,620,207
64$2,795,174$2,398,198$2,289,445$2,750,473
65$3,022,344$2,457,772$2,308,204$2,890,417
66$3,270,861$2,518,440$2,325,766$3,040,944
67$3,542,844$2,580,199$2,342,034$3,203,048
68$3,840,627$2,643,042$2,356,905$3,377,824
69$4,166,781$2,706,961$2,370,271$3,566,477
70$4,524,136$2,771,946$2,382,020$3,770,334
71$4,915,811$2,837,984$2,392,030$3,990,855
72$5,345,238$2,905,060$2,400,178$4,229,650
73$5,816,199$2,973,155$2,406,330$4,488,490
74$6,332,860$3,042,247$2,410,351$4,769,326
75$6,899,807$3,112,313$2,412,093$5,074,308
76$7,522,094$3,183,323$2,411,405$5,405,804
77$8,205,287$3,255,245$2,408,126$5,766,420
78$8,955,518$3,328,044$2,402,090$6,159,032
79$9,779,542$3,401,679$2,393,121$6,586,804
80$10,684,798$3,476,104$2,381,033$7,053,223
81$11,679,484$3,551,270$2,365,635$7,562,133
82$12,772,631$3,627,122$2,346,723$8,117,768
83$13,974,187$3,703,598$2,324,086$8,724,794
84$15,295,112$3,780,633$2,297,501$9,388,350
85$16,747,481$3,858,152$2,266,735$10,114,104
86$18,344,599$3,936,075$2,231,545$10,908,298
87$20,101,122$4,014,317$2,191,676$11,777,811
88$22,033,199$4,092,782$2,146,860$12,730,227
89$24,158,625$4,171,367$2,096,818$13,773,899
90$26,497,001$4,249,961$2,041,259$14,918,038
91$29,069,929$4,328,443$1,979,875$16,172,791
92$31,901,209$4,406,683$1,912,348$17,549,342
93$35,017,062$4,484,541$1,838,341$19,060,019
94$38,446,384$4,561,865$1,757,507$20,718,406
95$42,221,010$4,638,491$1,669,478$22,539,475
96$46,376,020$4,714,244$1,573,873$24,539,728
97$50,950,068$4,788,936$1,470,292$26,737,351
98$55,985,745$4,862,364$1,358,317$29,152,389
99$61,529,983$4,934,312$1,237,512$31,806,934
100$67,634,494$5,004,546$1,107,422$34,725,332