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%17.4%
1 years$187,454$185,785$184,156$182,566$181,013$175,570
2 years$92,799$91,071$89,396$87,772$86,197$80,759
3 years$61,252$59,516$57,845$56,236$54,687$49,425
4 years$45,481$43,750$42,096$40,515$39,003$33,957
5 years$36,021$34,301$32,669$31,119$29,649$24,833
6 years$29,716$28,009$26,401$24,887$23,461$18,878
7 years$25,215$23,522$21,939$20,461$19,080$14,731
8 years$21,840$20,163$18,606$17,164$15,829$11,711
9 years$19,217$17,555$16,026$14,620$13,330$9,439
10 years$17,120$15,474$13,972$12,602$11,358$7,688
11 years$15,405$13,776$12,300$10,968$9,768$6,313
12 years$13,977$12,364$10,916$9,620$8,465$5,217
13 years$12,769$11,174$9,753$8,493$7,381$4,334
14 years$11,735$10,157$8,763$7,539$6,471$3,616
15 years$10,840$9,278$7,912$6,724$5,697$3,027
16 years$10,057$8,513$7,173$6,020$5,035$2,541
17 years$9,367$7,840$6,527$5,409$4,465$2,138
18 years$8,755$7,244$5,959$4,875$3,970$1,802
19 years$8,207$6,714$5,455$4,405$3,538$1,522
20 years$7,715$6,239$5,006$3,989$3,160$1,287
21 years$7,270$5,811$4,605$3,621$2,828$1,089
22 years$6,867$5,425$4,244$3,292$2,535$923
23 years$6,499$5,074$3,919$2,998$2,276$783
24 years$6,162$4,754$3,624$2,734$2,045$664
25 years$5,852$4,461$3,357$2,497$1,841$564
26 years$5,567$4,193$3,113$2,283$1,658$479
27 years$5,304$3,946$2,891$2,090$1,495$407
28 years$5,059$3,718$2,687$1,915$1,349$346
29 years$4,832$3,508$2,501$1,756$1,218$294
30 years$4,621$3,313$2,329$1,612$1,100$250
31 years$4,423$3,131$2,172$1,480$995$213
32 years$4,238$2,963$2,026$1,360$900$181
33 years$4,065$2,806$1,892$1,251$814$154
34 years$3,903$2,659$1,768$1,151$737$131
35 years$3,750$2,522$1,653$1,059$668$112
36 years$3,605$2,394$1,546$976$605$95
37 years$3,469$2,274$1,447$899$548$81
38 years$3,341$2,161$1,355$829$497$69
39 years$3,219$2,055$1,270$764$451$59
40 years$3,103$1,955$1,190$705$409$50
41 years$2,994$1,861$1,116$650$371$43
42 years$2,890$1,772$1,047$600$337$36
43 years$2,791$1,689$982$554$306$31
44 years$2,697$1,610$922$511$277$26
45 years$2,607$1,535$866$472$252$22
46 years$2,522$1,464$813$436$229$19
47 years$2,440$1,397$764$403$208$16
48 years$2,362$1,334$718$372$189$14
49 years$2,288$1,274$675$344$171$12
50 years$2,216$1,217$634$318$156$10

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 $6,142 every year, while hoping to spend $26,688 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: 83/11/6 Blend
61$2,270,000$2,270,000$2,270,000$2,270,000
62$2,507,875$2,387,565$2,352,380$2,714,642
63$2,735,283$2,476,160$2,402,789$2,939,189
64$2,984,992$2,568,202$2,453,993$3,181,466
65$3,259,248$2,663,831$2,505,988$3,446,661
66$3,560,526$2,763,194$2,558,774$3,737,055
67$3,891,554$2,866,444$2,612,347$4,055,159
68$4,255,333$2,973,741$2,666,702$4,403,738
69$4,655,174$3,085,251$2,721,833$4,785,838
70$5,094,721$3,201,147$2,777,733$5,204,813
71$5,577,990$3,321,611$2,834,395$5,664,356
72$6,109,406$3,446,832$2,891,809$6,168,536
73$6,693,845$3,577,005$2,949,963$6,721,835
74$7,336,676$3,712,338$3,008,846$7,329,186
75$8,043,818$3,853,044$3,068,444$7,996,029
76$8,821,791$3,999,346$3,128,740$8,728,349
77$9,677,779$4,151,479$3,189,718$9,532,746
78$10,619,696$4,309,685$3,251,357$10,416,485
79$11,656,264$4,474,219$3,313,637$11,387,571
80$12,797,094$4,645,346$3,376,534$12,454,824
81$14,052,772$4,823,343$3,440,023$13,627,959
82$15,434,967$5,008,499$3,504,076$14,917,678
83$16,956,533$5,201,115$3,568,662$16,335,773
84$18,631,636$5,401,506$3,633,748$17,895,234
85$20,475,883$5,610,000$3,699,299$19,610,374
86$22,506,474$5,826,941$3,765,277$21,496,962
87$24,742,360$6,052,686$3,831,639$23,572,369
88$27,204,423$6,287,611$3,898,341$25,855,737
89$29,915,674$6,532,104$3,965,336$28,368,156
90$32,901,470$6,786,574$4,032,572$31,132,861
91$36,189,751$7,051,447$4,099,994$34,175,454
92$39,811,304$7,327,166$4,167,542$37,524,144
93$43,800,057$7,614,198$4,235,155$41,210,013
94$48,193,395$7,913,026$4,302,765$45,267,307
95$53,032,514$8,224,157$4,370,300$49,733,760
96$58,362,810$8,548,120$4,437,685$54,650,951
97$64,234,308$8,885,468$4,504,838$60,064,695
98$70,702,130$9,236,779$4,571,673$66,025,472
99$77,827,022$9,602,656$4,638,098$72,588,907
100$85,675,921$9,983,729$4,704,017$79,816,291