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

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 $2,270,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$187,454$185,785$184,156$182,566$181,013$177,868
2 years$92,799$91,071$89,396$87,772$86,197$83,038
3 years$61,252$59,516$57,845$56,236$54,687$51,613
4 years$45,481$43,750$42,096$40,515$39,003$36,038
5 years$36,021$34,301$32,669$31,119$29,649$26,802
6 years$29,716$28,009$26,401$24,887$23,461$20,734
7 years$25,215$23,522$21,939$20,461$19,080$16,474
8 years$21,840$20,163$18,606$17,164$15,829$13,343
9 years$19,217$17,555$16,026$14,620$13,330$10,964
10 years$17,120$15,474$13,972$12,602$11,358$9,109
11 years$15,405$13,776$12,300$10,968$9,768$7,634
12 years$13,977$12,364$10,916$9,620$8,465$6,443
13 years$12,769$11,174$9,753$8,493$7,381$5,468
14 years$11,735$10,157$8,763$7,539$6,471$4,663
15 years$10,840$9,278$7,912$6,724$5,697$3,991
16 years$10,057$8,513$7,173$6,020$5,035$3,428
17 years$9,367$7,840$6,527$5,409$4,465$2,952
18 years$8,755$7,244$5,959$4,875$3,970$2,548
19 years$8,207$6,714$5,455$4,405$3,538$2,203
20 years$7,715$6,239$5,006$3,989$3,160$1,909
21 years$7,270$5,811$4,605$3,621$2,828$1,656
22 years$6,867$5,425$4,244$3,292$2,535$1,438
23 years$6,499$5,074$3,919$2,998$2,276$1,250
24 years$6,162$4,754$3,624$2,734$2,045$1,088
25 years$5,852$4,461$3,357$2,497$1,841$948
26 years$5,567$4,193$3,113$2,283$1,658$826
27 years$5,304$3,946$2,891$2,090$1,495$720
28 years$5,059$3,718$2,687$1,915$1,349$629
29 years$4,832$3,508$2,501$1,756$1,218$549
30 years$4,621$3,313$2,329$1,612$1,100$479
31 years$4,423$3,131$2,172$1,480$995$419
32 years$4,238$2,963$2,026$1,360$900$366
33 years$4,065$2,806$1,892$1,251$814$320
34 years$3,903$2,659$1,768$1,151$737$280
35 years$3,750$2,522$1,653$1,059$668$244
36 years$3,605$2,394$1,546$976$605$214
37 years$3,469$2,274$1,447$899$548$187
38 years$3,341$2,161$1,355$829$497$164
39 years$3,219$2,055$1,270$764$451$143
40 years$3,103$1,955$1,190$705$409$125
41 years$2,994$1,861$1,116$650$371$110
42 years$2,890$1,772$1,047$600$337$96
43 years$2,791$1,689$982$554$306$84
44 years$2,697$1,610$922$511$277$74
45 years$2,607$1,535$866$472$252$64
46 years$2,522$1,464$813$436$229$56
47 years$2,440$1,397$764$403$208$49
48 years$2,362$1,334$718$372$189$43
49 years$2,288$1,274$675$344$171$38
50 years$2,216$1,217$634$318$156$33

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 $5,458 every year, while hoping to spend $39,588 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: 74/9/17 Blend
61$2,270,000$2,270,000$2,270,000$2,270,000
62$2,507,170$2,386,860$2,351,675$2,682,586
63$2,720,780$2,461,695$2,388,335$2,874,374
64$2,954,851$2,538,870$2,424,896$3,079,077
65$3,211,429$2,618,457$2,461,313$3,302,341
66$3,492,767$2,700,533$2,497,539$3,546,000
67$3,801,344$2,785,175$2,533,521$3,812,077
68$4,139,895$2,872,462$2,569,208$4,102,797
69$4,511,428$2,962,476$2,604,540$4,420,613
70$4,919,259$3,055,303$2,639,458$4,768,227
71$5,367,041$3,151,030$2,673,897$5,148,613
72$5,858,795$3,249,747$2,707,789$5,565,050
73$6,398,955$3,351,548$2,741,062$6,021,146
74$6,992,402$3,456,527$2,773,641$6,520,880
75$7,644,514$3,564,784$2,805,445$7,068,633
76$8,361,217$3,676,420$2,836,390$7,669,230
77$9,149,037$3,791,541$2,866,385$8,327,991
78$10,015,167$3,910,255$2,895,337$9,050,772
79$10,967,529$4,032,673$2,923,147$9,844,029
80$12,014,853$4,158,910$2,949,708$10,714,872
81$13,166,756$4,289,084$2,974,911$11,671,136
82$14,433,835$4,423,319$2,998,640$12,721,454
83$15,827,763$4,561,739$3,020,772$13,875,336
84$17,361,406$4,704,474$3,041,178$15,143,263
85$19,048,935$4,851,659$3,059,723$16,536,780
86$20,905,966$5,003,431$3,076,264$18,068,612
87$22,949,707$5,159,931$3,090,652$19,752,777
88$25,199,117$5,321,308$3,102,728$21,604,722
89$27,675,086$5,487,710$3,112,328$23,641,469
90$30,400,632$5,659,295$3,119,278$25,881,771
91$33,401,118$5,836,222$3,123,396$28,346,297
92$36,704,491$6,018,657$3,124,489$31,057,818
93$40,341,547$6,206,769$3,122,357$34,041,429
94$44,346,219$6,400,734$3,116,790$37,324,781
95$48,755,897$6,600,734$3,107,566$40,938,344
96$53,611,782$6,806,954$3,094,454$44,915,693
97$58,959,276$7,019,587$3,077,210$49,293,828
98$64,848,405$7,238,829$3,055,579$54,113,519
99$71,334,297$7,464,887$3,029,296$59,419,695
100$78,477,698$7,697,968$2,998,080$65,261,863