Can I retire at age 62 with 2,230,000?

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 $2,230,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$184,151$182,511$180,911$179,349$177,823$175,528
2 years$91,164$89,466$87,821$86,225$84,678$82,369
3 years$60,172$58,467$56,826$55,245$53,723$51,472
4 years$44,679$42,980$41,355$39,801$38,316$36,140
5 years$35,386$33,696$32,093$30,571$29,127$27,033
6 years$29,193$27,516$25,936$24,448$23,047$21,037
7 years$24,771$23,108$21,553$20,100$18,744$16,818
8 years$21,455$19,808$18,278$16,861$15,550$13,709
9 years$18,878$17,246$15,743$14,362$13,095$11,338
10 years$16,818$15,202$13,725$12,380$11,158$9,483
11 years$15,133$13,533$12,084$10,775$9,596$8,003
12 years$13,730$12,147$10,724$9,451$8,316$6,801
13 years$12,544$10,977$9,581$8,344$7,251$5,814
14 years$11,528$9,978$8,609$7,407$6,357$4,995
15 years$10,649$9,115$7,772$6,605$5,597$4,308
16 years$9,880$8,363$7,047$5,914$4,946$3,728
17 years$9,202$7,702$6,412$5,314$4,386$3,235
18 years$8,600$7,117$5,854$4,789$3,900$2,815
19 years$8,062$6,596$5,359$4,327$3,476$2,454
20 years$7,579$6,129$4,918$3,919$3,105$2,143
21 years$7,142$5,709$4,524$3,557$2,778$1,875
22 years$6,746$5,329$4,169$3,234$2,490$1,642
23 years$6,384$4,984$3,850$2,945$2,236$1,440
24 years$6,053$4,670$3,560$2,686$2,009$1,264
25 years$5,749$4,382$3,297$2,453$1,808$1,111
26 years$5,469$4,119$3,058$2,243$1,629$976
27 years$5,210$3,876$2,840$2,053$1,468$859
28 years$4,970$3,653$2,640$1,881$1,325$756
29 years$4,747$3,446$2,457$1,725$1,196$666
30 years$4,539$3,254$2,288$1,583$1,081$587
31 years$4,345$3,076$2,133$1,454$977$518
32 years$4,164$2,911$1,990$1,336$884$456
33 years$3,994$2,757$1,858$1,229$800$403
34 years$3,834$2,613$1,736$1,131$724$355
35 years$3,683$2,478$1,623$1,041$656$314
36 years$3,542$2,352$1,519$959$594$277
37 years$3,408$2,234$1,421$883$539$244
38 years$3,282$2,123$1,331$814$488$216
39 years$3,162$2,019$1,247$751$443$191
40 years$3,049$1,921$1,169$692$402$168
41 years$2,941$1,828$1,096$639$365$149
42 years$2,839$1,741$1,028$589$331$131
43 years$2,742$1,659$965$544$300$116
44 years$2,650$1,581$906$502$272$103
45 years$2,561$1,508$850$464$247$91
46 years$2,477$1,439$799$429$225$80
47 years$2,397$1,373$750$396$204$71
48 years$2,321$1,311$705$366$185$63
49 years$2,247$1,252$663$338$168$55
50 years$2,177$1,195$623$313$153$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,230,000, adding $5,990 every year, while hoping to spend $35,561 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: 84/9/7 Blend
61$2,230,000$2,230,000$2,230,000$2,230,000
62$2,463,639$2,345,449$2,310,884$2,668,585
63$2,677,093$2,422,539$2,350,462$2,880,385
64$2,911,128$2,502,215$2,390,174$3,107,532
65$3,167,805$2,584,566$2,429,987$3,355,902
66$3,449,396$2,669,683$2,469,865$3,627,602
67$3,758,400$2,757,664$2,509,772$3,924,955
68$4,097,573$2,848,606$2,549,666$4,250,518
69$4,469,951$2,942,613$2,589,504$4,607,106
70$4,878,875$3,039,790$2,629,242$4,997,821
71$5,328,029$3,140,248$2,668,830$5,426,079
72$5,821,468$3,244,101$2,708,217$5,895,642
73$6,363,664$3,351,467$2,747,347$6,410,654
74$6,959,537$3,462,469$2,786,163$6,975,681
75$7,614,514$3,577,234$2,824,604$7,595,750
76$8,334,569$3,695,893$2,862,602$8,276,402
77$9,126,285$3,818,582$2,900,090$9,023,738
78$9,996,917$3,945,444$2,936,994$9,844,482
79$10,954,456$4,076,624$2,973,236$10,746,038
80$12,007,706$4,212,273$3,008,735$11,736,566
81$13,166,368$4,352,551$3,043,404$12,825,055
82$14,441,131$4,497,619$3,077,151$14,021,407
83$15,843,771$4,647,647$3,109,880$15,336,533
84$17,387,264$4,802,810$3,141,490$16,782,455
85$19,085,907$4,963,290$3,171,872$18,372,415
86$20,955,454$5,129,276$3,200,914$20,121,007
87$23,013,262$5,300,963$3,228,497$22,044,308
88$25,278,458$5,478,553$3,254,495$24,160,034
89$27,772,116$5,662,258$3,278,776$26,487,703
90$30,517,458$5,852,294$3,301,201$29,048,821
91$33,540,071$6,048,889$3,321,623$31,867,086
92$36,868,151$6,252,276$3,339,890$34,968,608
93$40,532,764$6,462,700$3,355,838$38,382,159
94$44,568,146$6,680,413$3,369,299$42,139,439
95$49,012,020$6,905,676$3,380,094$46,275,380
96$53,905,954$7,138,762$3,388,034$50,828,474
97$59,295,752$7,379,952$3,392,924$55,841,133
98$65,231,888$7,629,539$3,394,557$61,360,094
99$71,769,982$7,887,827$3,392,715$67,436,854
100$78,971,321$8,155,132$3,387,172$74,128,161