Can I retire at age 62 with 2,190,000?

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 $2,190,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$180,848$179,237$177,666$176,132$174,634$169,247
2 years$89,529$87,861$86,245$84,679$83,159$77,779
3 years$59,093$57,418$55,807$54,254$52,759$47,555
4 years$43,878$42,209$40,613$39,087$37,628$32,639
5 years$34,751$33,092$31,517$30,023$28,605$23,844
6 years$28,669$27,022$25,471$24,009$22,634$18,107
7 years$24,326$22,693$21,166$19,739$18,407$14,113
8 years$21,071$19,452$17,951$16,559$15,271$11,206
9 years$18,540$16,937$15,461$14,105$12,860$9,021
10 years$16,516$14,929$13,479$12,158$10,957$7,338
11 years$14,862$13,290$11,867$10,581$9,424$6,018
12 years$13,484$11,929$10,531$9,281$8,166$4,967
13 years$12,319$10,780$9,409$8,194$7,121$4,121
14 years$11,321$9,799$8,454$7,274$6,242$3,433
15 years$10,458$8,951$7,633$6,487$5,496$2,870
16 years$9,703$8,213$6,920$5,808$4,858$2,406
17 years$9,037$7,564$6,297$5,219$4,307$2,021
18 years$8,446$6,989$5,749$4,703$3,830$1,701
19 years$7,918$6,477$5,263$4,250$3,414$1,435
20 years$7,443$6,019$4,830$3,849$3,049$1,211
21 years$7,014$5,607$4,442$3,493$2,729$1,024
22 years$6,625$5,234$4,094$3,176$2,446$866
23 years$6,270$4,895$3,780$2,892$2,195$733
24 years$5,945$4,586$3,496$2,638$1,973$621
25 years$5,646$4,304$3,238$2,409$1,776$527
26 years$5,371$4,045$3,003$2,203$1,599$447
27 years$5,117$3,807$2,789$2,016$1,442$379
28 years$4,881$3,587$2,593$1,847$1,301$322
29 years$4,662$3,384$2,413$1,694$1,175$273
30 years$4,458$3,196$2,247$1,555$1,062$232
31 years$4,267$3,021$2,095$1,428$960$197
32 years$4,089$2,859$1,955$1,312$868$167
33 years$3,922$2,707$1,825$1,207$786$142
34 years$3,765$2,566$1,705$1,110$711$121
35 years$3,617$2,434$1,594$1,022$644$103
36 years$3,478$2,310$1,491$941$584$87
37 years$3,347$2,194$1,396$867$529$74
38 years$3,223$2,085$1,307$799$480$63
39 years$3,105$1,983$1,225$737$435$54
40 years$2,994$1,886$1,148$680$395$46
41 years$2,888$1,795$1,076$627$358$39
42 years$2,788$1,710$1,010$579$325$33
43 years$2,693$1,629$948$534$295$28
44 years$2,602$1,553$889$493$268$24
45 years$2,516$1,481$835$456$243$20
46 years$2,433$1,413$784$421$221$17
47 years$2,354$1,348$737$389$200$15
48 years$2,279$1,287$692$359$182$12
49 years$2,207$1,229$651$332$165$11
50 years$2,138$1,174$612$307$150$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,190,000, adding $6,668 every year, while hoping to spend $40,216 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: 46/36/18 Blend
61$2,190,000$2,190,000$2,190,000$2,190,000
62$2,420,258$2,304,188$2,270,243$2,518,879
63$2,624,335$2,374,304$2,303,507$2,658,502
64$2,847,880$2,446,507$2,336,537$2,805,328
65$3,092,836$2,520,858$2,369,283$2,963,769
66$3,361,343$2,597,419$2,401,692$3,134,923
67$3,655,759$2,676,251$2,433,708$3,319,999
68$3,978,679$2,757,420$2,465,270$3,520,326
69$4,332,964$2,840,993$2,496,315$3,737,366
70$4,721,761$2,927,037$2,526,778$3,972,731
71$5,148,542$3,015,623$2,556,585$4,228,191
72$5,617,126$3,106,821$2,585,664$4,505,698
73$6,131,725$3,200,707$2,613,936$4,807,398
74$6,696,974$3,297,355$2,641,316$5,135,656
75$7,317,983$3,396,843$2,667,718$5,493,074
76$8,000,380$3,499,251$2,693,048$5,882,518
77$8,750,363$3,604,659$2,717,210$6,307,143
78$9,574,764$3,713,151$2,740,101$6,770,425
79$10,481,108$3,824,814$2,761,612$7,276,190
80$11,477,685$3,939,734$2,781,630$7,828,653
81$12,573,629$4,058,001$2,800,035$8,432,457
82$13,779,004$4,179,708$2,816,701$9,092,714
83$15,104,898$4,304,948$2,831,496$9,815,055
84$16,563,526$4,433,820$2,844,279$10,605,685
85$18,168,349$4,566,420$2,854,906$11,471,437
86$19,934,198$4,702,852$2,863,222$12,419,838
87$21,877,412$4,843,217$2,869,066$13,459,181
88$24,015,997$4,987,624$2,872,269$14,598,602
89$26,369,791$5,136,179$2,872,652$15,848,166
90$28,960,652$5,288,995$2,870,029$17,218,960
91$31,812,668$5,446,185$2,864,204$18,723,201
92$34,952,377$5,607,866$2,854,972$20,374,349
93$38,409,024$5,774,155$2,842,118$22,187,232
94$42,214,830$5,945,175$2,825,415$24,178,189
95$46,405,304$6,121,049$2,804,627$26,365,223
96$51,019,570$6,301,905$2,779,507$28,768,169
97$56,100,740$6,487,872$2,749,794$31,408,881
98$61,696,320$6,679,083$2,715,217$34,311,442
99$67,858,658$6,875,672$2,675,490$37,502,386
100$74,645,438$7,077,777$2,630,316$41,010,951