Can I retire at age 62 with 2,210,000?

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 $2,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$182,500$180,874$179,288$177,740$176,229$173,167
2 years$90,346$88,664$87,033$85,452$83,918$80,843
3 years$59,633$57,943$56,316$54,750$53,241$50,249
4 years$44,279$42,594$40,984$39,444$37,972$35,086
5 years$35,069$33,394$31,805$30,297$28,866$26,094
6 years$28,931$27,269$25,703$24,229$22,841$20,186
7 years$24,548$22,900$21,359$19,920$18,575$16,039
8 years$21,263$19,630$18,115$16,710$15,410$12,991
9 years$18,709$17,091$15,602$14,233$12,978$10,674
10 years$16,667$15,065$13,602$12,269$11,058$8,868
11 years$14,997$13,412$11,975$10,678$9,510$7,432
12 years$13,607$12,038$10,628$9,366$8,241$6,272
13 years$12,432$10,878$9,495$8,269$7,186$5,324
14 years$11,425$9,888$8,531$7,340$6,300$4,539
15 years$10,553$9,033$7,703$6,546$5,547$3,886
16 years$9,791$8,288$6,984$5,861$4,902$3,337
17 years$9,119$7,633$6,355$5,266$4,347$2,874
18 years$8,523$7,053$5,801$4,746$3,865$2,480
19 years$7,990$6,537$5,311$4,288$3,445$2,145
20 years$7,511$6,074$4,874$3,884$3,077$1,858
21 years$7,078$5,658$4,483$3,525$2,753$1,612
22 years$6,685$5,281$4,132$3,205$2,468$1,400
23 years$6,327$4,940$3,815$2,919$2,216$1,217
24 years$5,999$4,628$3,528$2,662$1,991$1,059
25 years$5,698$4,343$3,268$2,431$1,792$923
26 years$5,420$4,082$3,031$2,223$1,614$804
27 years$5,163$3,842$2,814$2,035$1,455$701
28 years$4,926$3,620$2,616$1,864$1,313$612
29 years$4,705$3,415$2,435$1,710$1,186$534
30 years$4,499$3,225$2,268$1,569$1,071$467
31 years$4,306$3,049$2,114$1,441$969$408
32 years$4,126$2,885$1,973$1,324$876$356
33 years$3,958$2,732$1,842$1,218$793$311
34 years$3,799$2,589$1,721$1,120$718$272
35 years$3,650$2,456$1,609$1,031$650$238
36 years$3,510$2,331$1,505$950$589$208
37 years$3,377$2,214$1,409$875$534$182
38 years$3,252$2,104$1,319$807$484$159
39 years$3,134$2,001$1,236$744$439$139
40 years$3,021$1,903$1,158$686$398$122
41 years$2,915$1,812$1,086$633$361$107
42 years$2,814$1,726$1,019$584$328$93
43 years$2,717$1,644$956$539$297$82
44 years$2,626$1,567$898$498$270$72
45 years$2,539$1,494$843$460$245$63
46 years$2,455$1,426$792$425$223$55
47 years$2,376$1,361$744$392$202$48
48 years$2,300$1,299$699$363$184$42
49 years$2,227$1,240$657$335$167$37
50 years$2,158$1,185$618$310$151$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,210,000, adding $4,102 every year, while hoping to spend $48,225 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: 61/17/22 Blend
61$2,210,000$2,210,000$2,210,000$2,210,000
62$2,439,651$2,322,521$2,288,266$2,574,111
63$2,637,185$2,385,014$2,313,612$2,728,132
64$2,853,250$2,448,952$2,338,191$2,890,492
65$3,089,687$2,514,356$2,361,926$3,066,620
66$3,348,521$2,581,245$2,384,736$3,257,862
67$3,631,982$2,649,638$2,406,536$3,465,701
68$3,942,526$2,719,553$2,427,237$3,691,772
69$4,282,858$2,791,005$2,446,745$3,937,875
70$4,655,958$2,864,012$2,464,958$4,205,992
71$5,065,105$2,938,589$2,481,774$4,498,308
72$5,513,914$3,014,747$2,497,081$4,817,230
73$6,006,365$3,092,502$2,510,765$5,165,409
74$6,546,841$3,171,862$2,522,703$5,545,766
75$7,140,173$3,252,837$2,532,768$5,961,522
76$7,791,679$3,335,435$2,540,824$6,416,222
77$8,507,221$3,419,661$2,546,732$6,913,775
78$9,293,252$3,505,519$2,550,342$7,458,487
79$10,156,885$3,593,011$2,551,500$8,055,104
80$11,105,954$3,682,135$2,550,042$8,708,856
81$12,149,089$3,772,887$2,545,796$9,425,505
82$13,295,799$3,865,262$2,538,584$10,211,400
83$14,556,561$3,959,250$2,528,216$11,073,539
84$15,942,914$4,054,837$2,514,495$12,019,634
85$17,467,575$4,152,008$2,497,215$13,058,183
86$19,144,555$4,250,743$2,476,158$14,198,551
87$20,989,287$4,351,018$2,451,097$15,451,058
88$23,018,780$4,452,803$2,421,795$16,827,077
89$25,251,771$4,556,066$2,388,001$18,339,144
90$27,708,908$4,660,770$2,349,455$20,001,070
91$30,412,938$4,766,869$2,305,883$21,828,078
92$33,388,928$4,874,316$2,257,000$23,836,944
93$36,664,496$4,983,054$2,202,507$26,046,157
94$40,270,073$5,093,022$2,142,089$28,476,091
95$44,239,192$5,204,152$2,075,421$31,149,201
96$48,608,800$5,316,366$2,002,158$34,090,232
97$53,419,611$5,429,581$1,921,943$37,326,457
98$58,716,484$5,543,704$1,834,402$40,887,930
99$64,548,853$5,658,633$1,739,142$44,807,774
100$70,971,188$5,774,257$1,635,754$49,122,492