Can I retire at age 62 with 2,260,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$186,629$184,966$183,344$181,761$180,216$174,307
2 years$92,390$90,670$89,002$87,385$85,817$79,921
3 years$60,982$59,254$57,590$55,989$54,446$48,747
4 years$45,281$43,558$41,911$40,337$38,831$33,373
5 years$35,862$34,150$32,525$30,982$29,519$24,316
6 years$29,585$27,886$26,285$24,777$23,357$18,414
7 years$25,104$23,419$21,843$20,370$18,996$14,312
8 years$21,744$20,074$18,524$17,088$15,759$11,331
9 years$19,132$17,478$15,955$14,555$13,271$9,094
10 years$17,044$15,406$13,910$12,547$11,308$7,374
11 years$15,337$13,715$12,246$10,920$9,725$6,028
12 years$13,915$12,310$10,868$9,578$8,427$4,959
13 years$12,713$11,125$9,710$8,456$7,349$4,100
14 years$11,683$10,112$8,724$7,506$6,442$3,404
15 years$10,792$9,237$7,877$6,694$5,672$2,835
16 years$10,013$8,475$7,142$5,994$5,013$2,368
17 years$9,326$7,805$6,499$5,385$4,445$1,982
18 years$8,716$7,212$5,932$4,853$3,952$1,663
19 years$8,171$6,684$5,431$4,385$3,523$1,397
20 years$7,681$6,211$4,984$3,972$3,146$1,175
21 years$7,238$5,786$4,584$3,605$2,816$989
22 years$6,836$5,401$4,225$3,278$2,524$833
23 years$6,470$5,051$3,901$2,985$2,266$703
24 years$6,135$4,733$3,608$2,722$2,036$593
25 years$5,827$4,441$3,342$2,486$1,832$501
26 years$5,543$4,174$3,099$2,273$1,651$423
27 years$5,280$3,928$2,878$2,081$1,488$357
28 years$5,037$3,702$2,675$1,906$1,343$302
29 years$4,811$3,492$2,490$1,748$1,213$255
30 years$4,600$3,298$2,319$1,604$1,096$216
31 years$4,404$3,118$2,162$1,474$991$183
32 years$4,220$2,950$2,017$1,354$896$155
33 years$4,047$2,794$1,883$1,245$811$131
34 years$3,885$2,648$1,760$1,146$734$111
35 years$3,733$2,511$1,645$1,055$665$94
36 years$3,589$2,384$1,539$971$602$79
37 years$3,454$2,264$1,441$895$546$67
38 years$3,326$2,152$1,349$825$495$57
39 years$3,205$2,046$1,264$761$449$48
40 years$3,090$1,946$1,185$702$407$41
41 years$2,981$1,853$1,111$647$369$34
42 years$2,877$1,765$1,042$597$335$29
43 years$2,779$1,681$978$551$304$25
44 years$2,685$1,603$918$509$276$21
45 years$2,596$1,528$862$470$251$18
46 years$2,511$1,458$809$434$228$15
47 years$2,430$1,391$760$401$207$13
48 years$2,352$1,328$715$371$188$11
49 years$2,278$1,268$672$343$170$9
50 years$2,207$1,212$631$317$155$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,260,000, adding $6,678 every year, while hoping to spend $32,266 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: 73/22/5 Blend
61$2,260,000$2,260,000$2,260,000$2,260,000
62$2,497,408$2,377,628$2,342,598$2,678,229
63$2,717,813$2,459,801$2,386,745$2,880,364
64$2,959,618$2,544,919$2,431,288$3,096,925
65$3,224,971$2,633,093$2,476,209$3,333,159
66$3,516,240$2,724,436$2,521,484$3,590,992
67$3,836,031$2,819,068$2,567,088$3,872,551
68$4,187,217$2,917,113$2,612,996$4,180,171
69$4,572,961$3,018,700$2,659,179$4,516,427
70$4,996,748$3,123,961$2,705,607$4,884,151
71$5,462,418$3,233,037$2,752,246$5,286,464
72$5,974,201$3,346,071$2,799,062$5,726,798
73$6,536,755$3,463,214$2,846,017$6,208,935
74$7,155,215$3,584,623$2,893,070$6,737,040
75$7,835,237$3,710,460$2,940,178$7,315,698
76$8,583,053$3,840,894$2,987,295$7,949,958
77$9,405,527$3,976,100$3,034,372$8,645,382
78$10,310,224$4,116,263$3,081,357$9,408,095
79$11,305,479$4,261,571$3,128,194$10,244,841
80$12,400,473$4,412,223$3,174,823$11,163,051
81$13,605,324$4,568,425$3,221,183$12,170,909
82$14,931,180$4,730,391$3,267,206$13,277,428
83$16,390,324$4,898,344$3,312,821$14,492,538
84$17,996,290$5,072,515$3,357,953$15,827,176
85$19,763,990$5,253,147$3,402,523$17,293,389
86$21,709,856$5,440,491$3,446,447$18,904,451
87$23,851,993$5,634,807$3,489,635$20,674,983
88$26,210,352$5,836,368$3,531,993$22,621,092
89$28,806,916$6,045,458$3,573,422$24,760,522
90$31,665,907$6,262,370$3,613,818$27,112,823
91$34,814,016$6,487,414$3,653,068$29,699,532
92$38,280,656$6,720,907$3,691,055$32,544,377
93$42,098,234$6,963,183$3,727,657$35,673,501
94$46,302,464$7,214,588$3,762,743$39,115,707
95$50,932,696$7,475,484$3,796,176$42,902,726
96$56,032,295$7,746,247$3,827,812$47,069,525
97$61,649,043$8,027,267$3,857,498$51,654,624
98$67,835,596$8,318,954$3,885,075$56,700,468
99$74,649,975$8,621,731$3,910,373$62,253,824
100$82,156,118$8,936,041$3,933,216$68,366,219