Can I retire at age 62 with 2,220,000?

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 $2,220,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$183,326$181,693$180,099$178,544$177,026$172,746
2 years$90,755$89,065$87,427$85,839$84,298$80,012
3 years$59,902$58,205$56,571$54,998$53,482$49,324
4 years$44,479$42,787$41,169$39,623$38,144$34,145
5 years$35,228$33,545$31,949$30,434$28,996$25,169
6 years$29,062$27,392$25,820$24,338$22,944$19,291
7 years$24,659$23,004$21,456$20,010$18,660$15,182
8 years$21,359$19,719$18,197$16,786$15,480$12,176
9 years$18,794$17,169$15,673$14,298$13,036$9,903
10 years$16,742$15,133$13,664$12,325$11,108$8,142
11 years$15,065$13,472$12,029$10,726$9,553$6,750
12 years$13,669$12,092$10,676$9,408$8,278$5,634
13 years$12,488$10,928$9,538$8,306$7,219$4,728
14 years$11,477$9,933$8,570$7,373$6,328$3,985
15 years$10,601$9,074$7,738$6,576$5,572$3,372
16 years$9,835$8,325$7,015$5,888$4,924$2,861
17 years$9,161$7,667$6,384$5,290$4,366$2,434
18 years$8,562$7,085$5,827$4,768$3,882$2,075
19 years$8,026$6,566$5,335$4,308$3,460$1,772
20 years$7,545$6,102$4,896$3,902$3,091$1,515
21 years$7,110$5,683$4,503$3,541$2,766$1,297
22 years$6,715$5,305$4,150$3,220$2,479$1,112
23 years$6,356$4,962$3,832$2,932$2,226$954
24 years$6,026$4,649$3,544$2,674$2,000$820
25 years$5,724$4,363$3,283$2,442$1,800$704
26 years$5,445$4,100$3,044$2,233$1,621$605
27 years$5,187$3,859$2,827$2,044$1,462$521
28 years$4,948$3,636$2,628$1,873$1,319$448
29 years$4,726$3,430$2,446$1,717$1,191$386
30 years$4,519$3,240$2,278$1,576$1,076$332
31 years$4,326$3,062$2,124$1,448$973$286
32 years$4,145$2,898$1,982$1,330$880$247
33 years$3,976$2,744$1,850$1,223$797$213
34 years$3,817$2,601$1,729$1,126$721$183
35 years$3,667$2,467$1,616$1,036$653$158
36 years$3,526$2,341$1,512$954$592$136
37 years$3,393$2,224$1,415$879$536$117
38 years$3,267$2,113$1,325$810$486$101
39 years$3,148$2,010$1,242$747$441$87
40 years$3,035$1,912$1,164$689$400$75
41 years$2,928$1,820$1,091$636$363$65
42 years$2,826$1,733$1,024$587$329$56
43 years$2,730$1,652$960$542$299$48
44 years$2,638$1,574$902$500$271$42
45 years$2,550$1,501$847$462$246$36
46 years$2,466$1,432$795$427$224$31
47 years$2,387$1,367$747$394$203$27
48 years$2,310$1,305$702$364$184$23
49 years$2,237$1,246$660$337$167$20
50 years$2,167$1,190$620$311$152$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,220,000, adding $4,814 every year, while hoping to spend $36,758 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: 56/39/5 Blend
61$2,220,000$2,220,000$2,220,000$2,220,000
62$2,451,406$2,333,746$2,299,336$2,586,001
63$2,662,339$2,408,989$2,337,253$2,752,348
64$2,893,555$2,486,687$2,375,209$2,928,881
65$3,147,085$2,566,922$2,413,165$3,120,225
66$3,425,164$2,649,777$2,451,083$3,327,791
67$3,730,254$2,735,340$2,488,918$3,553,134
68$4,065,070$2,823,702$2,526,626$3,797,962
69$4,432,598$2,914,954$2,564,159$4,064,154
70$4,836,130$3,009,193$2,601,465$4,353,780
71$5,279,291$3,106,520$2,638,491$4,669,113
72$5,766,076$3,207,037$2,675,177$5,012,659
73$6,300,884$3,310,850$2,711,464$5,387,173
74$6,888,563$3,418,071$2,747,287$5,795,689
75$7,534,453$3,528,812$2,782,577$6,241,544
76$8,244,435$3,643,192$2,817,262$6,728,414
77$9,024,992$3,761,333$2,851,265$7,260,345
78$9,883,264$3,883,361$2,884,505$7,841,790
79$10,827,118$4,009,407$2,916,897$8,477,655
80$11,865,222$4,139,606$2,948,351$9,173,338
81$13,007,125$4,274,097$2,978,771$9,934,785
82$14,263,349$4,413,025$3,008,057$10,768,544
83$15,645,487$4,556,539$3,036,103$11,681,825
84$17,166,312$4,704,795$3,062,798$12,682,568
85$18,839,899$4,857,953$3,088,025$13,779,517
86$20,681,754$5,016,178$3,111,659$14,982,305
87$22,708,964$5,179,642$3,133,571$16,301,540
88$24,940,356$5,348,522$3,153,623$17,748,906
89$27,396,675$5,523,003$3,171,672$19,337,272
90$30,100,779$5,703,273$3,187,567$21,080,816
91$33,077,856$5,889,531$3,201,147$22,995,153
92$36,355,659$6,081,979$3,212,247$25,097,485
93$39,964,769$6,280,829$3,220,690$27,406,763
94$43,938,885$6,486,299$3,226,293$29,943,862
95$48,315,138$6,698,615$3,228,861$32,731,780
96$53,134,445$6,918,010$3,228,191$35,795,852
97$58,441,894$7,144,728$3,224,070$39,163,991
98$64,287,166$7,379,018$3,216,275$42,866,948
99$70,725,007$7,621,141$3,204,571$46,938,603
100$77,815,746$7,871,365$3,188,713$51,416,283