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

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 $2,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$180,022$178,419$176,854$175,327$173,836$172,958
2 years$89,120$87,460$85,852$84,292$82,779$81,893
3 years$58,823$57,156$55,552$54,007$52,519$51,652
4 years$43,678$42,016$40,427$38,909$37,457$36,616
5 years$34,593$32,941$31,373$29,886$28,474$27,662
6 years$28,538$26,899$25,354$23,900$22,530$21,748
7 years$24,215$22,590$21,070$19,649$18,323$17,571
8 years$20,974$19,363$17,869$16,483$15,201$14,478
9 years$18,455$16,859$15,390$14,040$12,801$12,108
10 years$16,441$14,861$13,418$12,103$10,907$10,244
11 years$14,794$13,230$11,813$10,533$9,381$8,746
12 years$13,422$11,874$10,483$9,239$8,129$7,523
13 years$12,263$10,731$9,366$8,157$7,089$6,511
14 years$11,270$9,754$8,416$7,240$6,214$5,663
15 years$10,410$8,910$7,598$6,457$5,471$4,947
16 years$9,658$8,175$6,889$5,782$4,836$4,337
17 years$8,996$7,529$6,269$5,195$4,288$3,815
18 years$8,407$6,957$5,722$4,682$3,812$3,364
19 years$7,882$6,448$5,239$4,230$3,398$2,973
20 years$7,409$5,992$4,808$3,831$3,035$2,633
21 years$6,982$5,581$4,422$3,477$2,716$2,336
22 years$6,594$5,210$4,076$3,162$2,435$2,075
23 years$6,241$4,872$3,763$2,879$2,185$1,846
24 years$5,918$4,565$3,480$2,626$1,964$1,644
25 years$5,620$4,284$3,223$2,398$1,768$1,466
26 years$5,347$4,026$2,990$2,193$1,592$1,309
27 years$5,093$3,789$2,776$2,007$1,435$1,169
28 years$4,859$3,571$2,581$1,839$1,295$1,045
29 years$4,641$3,369$2,402$1,686$1,170$935
30 years$4,438$3,181$2,237$1,548$1,057$836
31 years$4,248$3,007$2,086$1,421$955$749
32 years$4,070$2,846$1,946$1,306$864$671
33 years$3,904$2,695$1,817$1,201$782$601
34 years$3,748$2,554$1,698$1,105$708$539
35 years$3,601$2,422$1,587$1,017$641$483
36 years$3,462$2,299$1,485$937$581$434
37 years$3,332$2,184$1,390$863$527$389
38 years$3,208$2,075$1,301$796$478$349
39 years$3,091$1,973$1,219$734$433$313
40 years$2,980$1,878$1,143$677$393$281
41 years$2,875$1,787$1,072$624$356$253
42 years$2,775$1,702$1,005$576$323$227
43 years$2,681$1,622$943$532$293$204
44 years$2,590$1,546$885$491$266$183
45 years$2,504$1,474$831$454$242$164
46 years$2,422$1,406$781$419$220$148
47 years$2,344$1,342$734$387$199$133
48 years$2,269$1,281$689$358$181$119
49 years$2,197$1,223$648$331$164$107
50 years$2,128$1,169$609$306$149$96

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 $6,081 every year, while hoping to spend $23,879 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: 60/22/18 Blend
61$2,180,000$2,180,000$2,180,000$2,180,000
62$2,408,633$2,293,093$2,259,303$2,541,596
63$2,628,906$2,380,047$2,309,582$2,719,133
64$2,870,847$2,470,462$2,360,746$2,909,551
65$3,136,640$2,564,482$2,412,798$3,116,739
66$3,428,693$2,662,257$2,465,742$3,342,325
67$3,749,657$2,763,945$2,519,582$3,588,098
68$4,102,453$2,869,709$2,574,319$3,856,029
69$4,490,300$2,979,721$2,629,955$4,148,285
70$4,916,743$3,094,160$2,686,491$4,467,252
71$5,385,689$3,213,212$2,743,927$4,815,556
72$5,901,442$3,337,072$2,802,261$5,196,088
73$6,468,744$3,465,943$2,861,491$5,612,030
74$7,092,819$3,600,038$2,921,614$6,066,884
75$7,779,424$3,739,577$2,982,626$6,564,508
76$8,534,901$3,884,792$3,044,520$7,109,147
77$9,366,240$4,035,926$3,107,290$7,705,478
78$10,281,139$4,193,229$3,170,927$8,358,646
79$11,288,084$4,356,966$3,235,422$9,074,323
80$12,396,423$4,527,411$3,300,762$9,858,750
81$13,616,456$4,704,853$3,366,936$10,718,802
82$14,959,535$4,889,590$3,433,928$11,662,050
83$16,438,164$5,081,937$3,501,721$12,696,834
84$18,066,125$5,282,220$3,570,298$13,832,337
85$19,858,604$5,490,783$3,639,636$15,078,674
86$21,832,331$5,707,981$3,709,714$16,446,988
87$24,005,746$5,934,189$3,780,507$17,949,551
88$26,399,164$6,169,797$3,851,986$19,599,882
89$29,034,974$6,415,211$3,924,122$21,412,871
90$31,937,843$6,670,859$3,996,882$23,404,922
91$35,134,956$6,937,184$4,070,230$25,594,104
92$38,656,267$7,214,651$4,144,129$28,000,325
93$42,534,785$7,503,748$4,218,536$30,645,514
94$46,806,882$7,804,980$4,293,406$33,553,830
95$51,512,640$8,118,880$4,368,691$36,751,887
96$56,696,226$8,446,002$4,444,339$40,269,009
97$62,406,310$8,786,926$4,520,294$44,137,499
98$68,696,526$9,142,258$4,596,496$48,392,948
99$75,625,975$9,512,631$4,672,881$53,074,569
100$83,259,782$9,898,708$4,749,381$58,225,563