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

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 $2,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$186,629$184,966$183,344$181,761$180,216$174,099
2 years$92,390$90,670$89,002$87,385$85,817$79,715
3 years$60,982$59,254$57,590$55,989$54,446$48,551
4 years$45,281$43,558$41,911$40,337$38,831$33,189
5 years$35,862$34,150$32,525$30,982$29,519$24,144
6 years$29,585$27,886$26,285$24,777$23,357$18,254
7 years$25,104$23,419$21,843$20,370$18,996$14,163
8 years$21,744$20,074$18,524$17,088$15,759$11,193
9 years$19,132$17,478$15,955$14,555$13,271$8,967
10 years$17,044$15,406$13,910$12,547$11,308$7,257
11 years$15,337$13,715$12,246$10,920$9,725$5,921
12 years$13,915$12,310$10,868$9,578$8,427$4,861
13 years$12,713$11,125$9,710$8,456$7,349$4,011
14 years$11,683$10,112$8,724$7,506$6,442$3,323
15 years$10,792$9,237$7,877$6,694$5,672$2,762
16 years$10,013$8,475$7,142$5,994$5,013$2,302
17 years$9,326$7,805$6,499$5,385$4,445$1,923
18 years$8,716$7,212$5,932$4,853$3,952$1,609
19 years$8,171$6,684$5,431$4,385$3,523$1,348
20 years$7,681$6,211$4,984$3,972$3,146$1,131
21 years$7,238$5,786$4,584$3,605$2,816$950
22 years$6,836$5,401$4,225$3,278$2,524$799
23 years$6,470$5,051$3,901$2,985$2,266$672
24 years$6,135$4,733$3,608$2,722$2,036$566
25 years$5,827$4,441$3,342$2,486$1,832$477
26 years$5,543$4,174$3,099$2,273$1,651$402
27 years$5,280$3,928$2,878$2,081$1,488$339
28 years$5,037$3,702$2,675$1,906$1,343$286
29 years$4,811$3,492$2,490$1,748$1,213$241
30 years$4,600$3,298$2,319$1,604$1,096$203
31 years$4,404$3,118$2,162$1,474$991$171
32 years$4,220$2,950$2,017$1,354$896$145
33 years$4,047$2,794$1,883$1,245$811$122
34 years$3,885$2,648$1,760$1,146$734$103
35 years$3,733$2,511$1,645$1,055$665$87
36 years$3,589$2,384$1,539$971$602$73
37 years$3,454$2,264$1,441$895$546$62
38 years$3,326$2,152$1,349$825$495$52
39 years$3,205$2,046$1,264$761$449$44
40 years$3,090$1,946$1,185$702$407$37
41 years$2,981$1,853$1,111$647$369$32
42 years$2,877$1,765$1,042$597$335$27
43 years$2,779$1,681$978$551$304$22
44 years$2,685$1,603$918$509$276$19
45 years$2,596$1,528$862$470$251$16
46 years$2,511$1,458$809$434$228$14
47 years$2,430$1,391$760$401$207$11
48 years$2,352$1,328$715$371$188$10
49 years$2,278$1,268$672$343$170$8
50 years$2,207$1,212$631$317$155$7

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 $3,733 every year, while hoping to spend $40,243 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: 53/42/5 Blend
61$2,260,000$2,260,000$2,260,000$2,260,000
62$2,494,371$2,374,591$2,339,561$2,623,662
63$2,705,978$2,448,127$2,375,118$2,785,051
64$2,937,821$2,523,919$2,410,517$2,955,786
65$3,191,920$2,602,032$2,445,711$3,140,535
66$3,470,503$2,682,538$2,480,649$3,340,629
67$3,776,021$2,765,509$2,515,277$3,557,527
68$4,111,174$2,851,019$2,549,538$3,792,837
69$4,478,938$2,939,143$2,583,372$4,048,328
70$4,882,590$3,029,961$2,616,715$4,325,944
71$5,325,738$3,123,553$2,649,499$4,627,826
72$5,812,358$3,220,002$2,681,653$4,956,329
73$6,346,831$3,319,395$2,713,100$5,314,044
74$6,933,981$3,421,818$2,743,762$5,703,826
75$7,579,123$3,527,363$2,773,554$6,128,813
76$8,288,113$3,636,123$2,802,387$6,592,462
77$9,067,401$3,748,194$2,830,168$7,098,579
78$9,924,094$3,863,673$2,856,797$7,651,352
79$10,866,023$3,982,664$2,882,170$8,255,395
80$11,901,812$4,105,270$2,906,178$8,915,785
81$13,040,967$4,231,598$2,928,705$9,638,116
82$14,293,959$4,361,760$2,949,630$10,428,546
83$15,672,324$4,495,867$2,968,824$11,293,857
84$17,188,775$4,634,038$2,986,153$12,241,517
85$18,857,316$4,776,393$3,001,476$13,279,754
86$20,693,381$4,923,054$3,014,644$14,417,626
87$22,713,971$5,074,150$3,025,500$15,665,112
88$24,937,823$5,229,809$3,033,881$17,033,205
89$27,385,579$5,390,168$3,039,613$18,534,012
90$30,079,984$5,555,363$3,042,517$20,180,869
91$33,046,103$5,725,536$3,042,402$21,988,467
92$36,311,553$5,900,834$3,039,069$23,972,991
93$39,906,762$6,081,406$3,032,309$26,152,269
94$43,865,263$6,267,406$3,021,903$28,545,942
95$48,224,003$6,458,992$3,007,620$31,175,648
96$53,023,696$6,656,328$2,989,220$34,065,226
97$58,309,204$6,859,579$2,966,450$37,240,938
98$64,129,963$7,068,918$2,939,046$40,731,720
99$70,540,445$7,284,521$2,906,730$44,569,452
100$77,600,677$7,506,569$2,869,212$48,789,257