Can I retire at age 62 with 2,290,000?

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 $2,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$189,106$187,422$185,778$184,174$182,608$181,002
2 years$93,617$91,873$90,184$88,545$86,956$85,338
3 years$61,791$60,040$58,355$56,732$55,169$53,588
4 years$45,882$44,136$42,467$40,872$39,347$37,816
5 years$36,338$34,603$32,956$31,394$29,911$28,435
6 years$29,978$28,256$26,634$25,106$23,667$22,248
7 years$25,437$23,729$22,133$20,641$19,248$17,885
8 years$22,033$20,340$18,770$17,315$15,968$14,662
9 years$19,386$17,710$16,167$14,749$13,447$12,198
10 years$17,270$15,611$14,095$12,713$11,458$10,265
11 years$15,540$13,897$12,409$11,065$9,854$8,716
12 years$14,100$12,473$11,012$9,705$8,539$7,455
13 years$12,882$11,272$9,839$8,568$7,446$6,414
14 years$11,838$10,246$8,840$7,606$6,528$5,547
15 years$10,935$9,360$7,982$6,783$5,747$4,816
16 years$10,146$8,588$7,236$6,073$5,080$4,197
17 years$9,450$7,909$6,585$5,457$4,504$3,668
18 years$8,832$7,308$6,011$4,918$4,005$3,214
19 years$8,279$6,773$5,503$4,444$3,569$2,822
20 years$7,783$6,294$5,050$4,025$3,188$2,483
21 years$7,334$5,863$4,645$3,653$2,853$2,188
22 years$6,927$5,472$4,281$3,321$2,557$1,931
23 years$6,556$5,118$3,953$3,025$2,296$1,707
24 years$6,216$4,796$3,656$2,759$2,063$1,510
25 years$5,904$4,500$3,386$2,519$1,857$1,337
26 years$5,616$4,230$3,140$2,303$1,673$1,185
27 years$5,350$3,981$2,916$2,108$1,508$1,051
28 years$5,104$3,751$2,711$1,932$1,361$932
29 years$4,875$3,539$2,523$1,771$1,229$828
30 years$4,661$3,342$2,350$1,626$1,110$736
31 years$4,462$3,159$2,191$1,493$1,004$654
32 years$4,276$2,989$2,044$1,372$908$581
33 years$4,101$2,831$1,908$1,262$822$517
34 years$3,937$2,683$1,783$1,161$744$460
35 years$3,783$2,545$1,667$1,069$674$410
36 years$3,637$2,415$1,560$984$610$365
37 years$3,500$2,294$1,460$907$553$325
38 years$3,370$2,180$1,367$836$502$289
39 years$3,247$2,073$1,281$771$455$258
40 years$3,131$1,972$1,200$711$413$229
41 years$3,020$1,877$1,126$656$374$204
42 years$2,916$1,788$1,056$605$340$182
43 years$2,816$1,704$991$559$308$162
44 years$2,721$1,624$930$516$280$145
45 years$2,630$1,549$873$477$254$129
46 years$2,544$1,477$820$440$231$115
47 years$2,462$1,410$771$407$209$103
48 years$2,383$1,346$724$376$190$91
49 years$2,308$1,285$681$347$173$82
50 years$2,236$1,228$640$321$157$73

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,290,000, adding $4,997 every year, while hoping to spend $37,521 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: 36/45/19 Blend
61$2,290,000$2,290,000$2,290,000$2,290,000
62$2,528,734$2,407,364$2,371,869$2,605,012
63$2,746,743$2,485,403$2,411,405$2,739,038
64$2,985,731$2,566,008$2,451,007$2,879,758
65$3,247,799$2,649,266$2,490,639$3,030,894
66$3,535,260$2,735,265$2,530,261$3,193,399
67$3,850,662$2,824,098$2,569,830$3,368,319
68$4,196,811$2,915,861$2,609,301$3,556,803
69$4,576,798$3,010,651$2,648,625$3,760,114
70$4,994,030$3,108,571$2,687,752$3,979,644
71$5,452,257$3,209,726$2,726,628$4,216,917
72$5,955,611$3,314,227$2,765,194$4,473,616
73$6,508,645$3,422,186$2,803,389$4,751,586
74$7,116,373$3,533,720$2,841,150$5,052,860
75$7,784,321$3,648,950$2,878,406$5,379,674
76$8,518,576$3,768,002$2,915,086$5,734,487
77$9,325,842$3,891,006$2,951,113$6,120,007
78$10,213,508$4,018,095$2,986,406$6,539,211
79$11,189,713$4,149,409$3,020,878$6,995,377
80$12,263,426$4,285,093$3,054,439$7,492,115
81$13,444,527$4,425,294$3,086,995$8,033,395
82$14,743,903$4,570,167$3,118,443$8,623,589
83$16,173,548$4,719,872$3,148,678$9,267,511
84$17,746,678$4,874,574$3,177,587$9,970,459
85$19,477,856$5,034,445$3,205,053$10,738,269
86$21,383,126$5,199,661$3,230,950$11,577,366
87$23,480,167$5,370,407$3,255,149$12,494,824
88$25,788,459$5,546,872$3,277,512$13,498,433
89$28,329,466$5,729,253$3,297,893$14,596,775
90$31,126,840$5,917,754$3,316,140$15,799,297
91$34,206,640$6,112,587$3,332,094$17,116,408
92$37,597,583$6,313,970$3,345,585$18,559,570
93$41,331,311$6,522,129$3,356,436$20,141,408
94$45,442,691$6,737,299$3,364,463$21,875,830
95$49,970,142$6,959,723$3,369,469$23,778,153
96$54,956,001$7,189,654$3,371,251$25,865,253
97$60,446,917$7,427,352$3,369,592$28,155,717
98$66,494,298$7,673,087$3,364,269$30,670,022
99$73,154,788$7,927,140$3,355,043$33,430,729
100$80,490,807$8,189,800$3,341,668$36,462,687