Can I retire at age 62 with 2,270,000?

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 $2,270,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$187,454$185,785$184,156$182,566$181,013$176,137
2 years$92,799$91,071$89,396$87,772$86,197$81,319
3 years$61,252$59,516$57,845$56,236$54,687$49,960
4 years$45,481$43,750$42,096$40,515$39,003$34,464
5 years$36,021$34,301$32,669$31,119$29,649$25,310
6 years$29,716$28,009$26,401$24,887$23,461$19,325
7 years$25,215$23,522$21,939$20,461$19,080$15,148
8 years$21,840$20,163$18,606$17,164$15,829$12,099
9 years$19,217$17,555$16,026$14,620$13,330$9,799
10 years$17,120$15,474$13,972$12,602$11,358$8,022
11 years$15,405$13,776$12,300$10,968$9,768$6,621
12 years$13,977$12,364$10,916$9,620$8,465$5,501
13 years$12,769$11,174$9,753$8,493$7,381$4,595
14 years$11,735$10,157$8,763$7,539$6,471$3,854
15 years$10,840$9,278$7,912$6,724$5,697$3,245
16 years$10,057$8,513$7,173$6,020$5,035$2,740
17 years$9,367$7,840$6,527$5,409$4,465$2,319
18 years$8,755$7,244$5,959$4,875$3,970$1,966
19 years$8,207$6,714$5,455$4,405$3,538$1,670
20 years$7,715$6,239$5,006$3,989$3,160$1,421
21 years$7,270$5,811$4,605$3,621$2,828$1,210
22 years$6,867$5,425$4,244$3,292$2,535$1,032
23 years$6,499$5,074$3,919$2,998$2,276$881
24 years$6,162$4,754$3,624$2,734$2,045$752
25 years$5,852$4,461$3,357$2,497$1,841$643
26 years$5,567$4,193$3,113$2,283$1,658$549
27 years$5,304$3,946$2,891$2,090$1,495$470
28 years$5,059$3,718$2,687$1,915$1,349$402
29 years$4,832$3,508$2,501$1,756$1,218$344
30 years$4,621$3,313$2,329$1,612$1,100$295
31 years$4,423$3,131$2,172$1,480$995$252
32 years$4,238$2,963$2,026$1,360$900$216
33 years$4,065$2,806$1,892$1,251$814$185
34 years$3,903$2,659$1,768$1,151$737$159
35 years$3,750$2,522$1,653$1,059$668$136
36 years$3,605$2,394$1,546$976$605$117
37 years$3,469$2,274$1,447$899$548$100
38 years$3,341$2,161$1,355$829$497$86
39 years$3,219$2,055$1,270$764$451$73
40 years$3,103$1,955$1,190$705$409$63
41 years$2,994$1,861$1,116$650$371$54
42 years$2,890$1,772$1,047$600$337$46
43 years$2,791$1,689$982$554$306$40
44 years$2,697$1,610$922$511$277$34
45 years$2,607$1,535$866$472$252$29
46 years$2,522$1,464$813$436$229$25
47 years$2,440$1,397$764$403$208$21
48 years$2,362$1,334$718$372$189$18
49 years$2,288$1,274$675$344$171$16
50 years$2,216$1,217$634$318$156$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,270,000, adding $3,863 every year, while hoping to spend $52,592 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: 33/43/24 Blend
61$2,270,000$2,270,000$2,270,000$2,270,000
62$2,505,525$2,385,215$2,350,030$2,569,709
63$2,705,131$2,446,133$2,372,798$2,679,186
64$2,923,334$2,508,273$2,394,567$2,792,078
65$3,161,976$2,571,640$2,415,246$2,912,689
66$3,423,083$2,636,237$2,434,743$3,041,735
67$3,708,890$2,702,064$2,452,959$3,180,003
68$4,021,853$2,769,121$2,469,789$3,328,363
69$4,364,679$2,837,406$2,485,125$3,487,769
70$4,740,351$2,906,914$2,498,852$3,659,277
71$5,152,152$2,977,637$2,510,848$3,844,047
72$5,603,697$3,049,567$2,520,987$4,043,358
73$6,098,970$3,122,691$2,529,135$4,258,620
74$6,642,356$3,196,995$2,535,153$4,491,388
75$7,238,689$3,272,460$2,538,893$4,743,374
76$7,893,291$3,349,066$2,540,201$5,016,466
77$8,612,023$3,426,787$2,538,915$5,312,744
78$9,401,346$3,505,596$2,534,865$5,634,504
79$10,268,373$3,585,460$2,527,872$5,984,272
80$11,220,941$3,666,341$2,517,750$6,364,838
81$12,267,684$3,748,200$2,504,303$6,779,272
82$13,418,116$3,830,989$2,487,324$7,230,964
83$14,682,713$3,914,657$2,466,599$7,723,647
84$16,073,022$3,999,148$2,441,903$8,261,437
85$17,601,762$4,084,397$2,412,998$8,848,875
86$19,282,946$4,170,337$2,379,637$9,490,963
87$21,132,013$4,256,890$2,341,562$10,193,218
88$23,165,975$4,343,975$2,298,501$10,961,722
89$25,403,573$4,431,498$2,250,170$11,803,179
90$27,865,459$4,519,363$2,196,272$12,724,980
91$30,574,385$4,607,461$2,136,496$13,735,275
92$33,555,420$4,695,675$2,070,517$14,843,047
93$36,836,189$4,783,878$1,997,994$16,058,201
94$40,447,126$4,871,934$1,918,573$17,391,655
95$44,421,769$4,959,695$1,831,881$18,855,446
96$48,797,070$5,047,000$1,737,530$20,462,844
97$53,613,746$5,133,679$1,635,113$22,228,479
98$58,916,664$5,219,545$1,524,205$24,168,478
99$64,755,260$5,304,399$1,404,362$26,300,619
100$71,184,010$5,388,028$1,275,122$28,644,502