Can I retire at age 62 with 2,180,000?

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 $2,180,000?

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$180,022$178,419$176,854$175,327$173,836$171,522
2 years$89,120$87,460$85,852$84,292$82,779$80,451
3 years$58,823$57,156$55,552$54,007$52,519$50,249
4 years$43,678$42,016$40,427$38,909$37,457$35,264
5 years$34,593$32,941$31,373$29,886$28,474$26,363
6 years$28,538$26,899$25,354$23,900$22,530$20,505
7 years$24,215$22,590$21,070$19,649$18,323$16,384
8 years$20,974$19,363$17,869$16,483$15,201$13,347
9 years$18,455$16,859$15,390$14,040$12,801$11,032
10 years$16,441$14,861$13,418$12,103$10,907$9,222
11 years$14,794$13,230$11,813$10,533$9,381$7,777
12 years$13,422$11,874$10,483$9,239$8,129$6,606
13 years$12,263$10,731$9,366$8,157$7,089$5,643
14 years$11,270$9,754$8,416$7,240$6,214$4,845
15 years$10,410$8,910$7,598$6,457$5,471$4,175
16 years$9,658$8,175$6,889$5,782$4,836$3,611
17 years$8,996$7,529$6,269$5,195$4,288$3,132
18 years$8,407$6,957$5,722$4,682$3,812$2,723
19 years$7,882$6,448$5,239$4,230$3,398$2,372
20 years$7,409$5,992$4,808$3,831$3,035$2,070
21 years$6,982$5,581$4,422$3,477$2,716$1,809
22 years$6,594$5,210$4,076$3,162$2,435$1,584
23 years$6,241$4,872$3,763$2,879$2,185$1,388
24 years$5,918$4,565$3,480$2,626$1,964$1,217
25 years$5,620$4,284$3,223$2,398$1,768$1,068
26 years$5,347$4,026$2,990$2,193$1,592$939
27 years$5,093$3,789$2,776$2,007$1,435$825
28 years$4,859$3,571$2,581$1,839$1,295$726
29 years$4,641$3,369$2,402$1,686$1,170$639
30 years$4,438$3,181$2,237$1,548$1,057$563
31 years$4,248$3,007$2,086$1,421$955$496
32 years$4,070$2,846$1,946$1,306$864$437
33 years$3,904$2,695$1,817$1,201$782$385
34 years$3,748$2,554$1,698$1,105$708$339
35 years$3,601$2,422$1,587$1,017$641$299
36 years$3,462$2,299$1,485$937$581$264
37 years$3,332$2,184$1,390$863$527$233
38 years$3,208$2,075$1,301$796$478$205
39 years$3,091$1,973$1,219$734$433$181
40 years$2,980$1,878$1,143$677$393$160
41 years$2,875$1,787$1,072$624$356$141
42 years$2,775$1,702$1,005$576$323$125
43 years$2,681$1,622$943$532$293$110
44 years$2,590$1,546$885$491$266$97
45 years$2,504$1,474$831$454$242$86
46 years$2,422$1,406$781$419$220$76
47 years$2,344$1,342$734$387$199$67
48 years$2,269$1,281$689$358$181$59
49 years$2,197$1,223$648$331$164$52
50 years$2,128$1,169$609$306$149$46

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,180,000, adding $6,283 every year, while hoping to spend $26,368 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: 72/13/15 Blend
61$2,180,000$2,180,000$2,180,000$2,180,000
62$2,408,841$2,293,301$2,259,511$2,573,739
63$2,626,487$2,377,617$2,307,149$2,768,242
64$2,865,450$2,465,181$2,355,500$2,977,356
65$3,127,875$2,556,125$2,404,558$3,205,659
66$3,416,127$2,650,584$2,454,320$3,455,045
67$3,732,812$2,748,702$2,504,779$3,727,600
68$4,080,797$2,850,627$2,555,927$4,025,620
69$4,463,245$2,956,514$2,607,758$4,351,631
70$4,883,638$3,066,525$2,660,260$4,708,420
71$5,345,813$3,180,829$2,713,423$5,099,051
72$5,853,998$3,299,601$2,767,234$5,526,900
73$6,412,849$3,423,025$2,821,679$5,995,685
74$7,027,498$3,551,291$2,876,744$6,509,502
75$7,703,598$3,684,600$2,932,410$7,072,861
76$8,447,377$3,823,158$2,988,659$7,690,730
77$9,265,700$3,967,183$3,045,469$8,368,580
78$10,166,128$4,116,901$3,102,818$9,112,439
79$11,156,992$4,272,548$3,160,681$9,928,945
80$12,247,472$4,434,371$3,219,032$10,825,412
81$13,447,684$4,602,625$3,277,839$11,809,897
82$14,768,774$4,777,579$3,337,072$12,891,274
83$16,223,021$4,959,513$3,396,697$14,079,321
84$17,823,958$5,148,718$3,456,675$15,384,808
85$19,586,496$5,345,499$3,516,968$16,819,602
86$21,527,065$5,550,175$3,577,532$18,396,776
87$23,663,767$5,763,075$3,638,322$20,130,731
88$26,016,554$5,984,548$3,699,287$22,037,337
89$28,607,405$6,214,954$3,760,376$24,134,076
90$31,460,544$6,454,670$3,821,533$26,440,209
91$34,602,661$6,704,091$3,882,696$28,976,959
92$38,063,169$6,963,627$3,943,802$31,767,709
93$41,874,475$7,233,708$4,004,783$34,838,221
94$46,072,294$7,514,783$4,065,566$38,216,882
95$50,695,980$7,807,318$4,126,073$41,934,968
96$55,788,897$8,111,804$4,186,224$46,026,942
97$61,398,832$8,428,750$4,245,930$50,530,775
98$67,578,444$8,758,690$4,305,100$55,488,308
99$74,385,760$9,102,180$4,363,635$60,945,643
100$81,884,722$9,459,802$4,421,432$66,953,578