Can I retire at age 62 with 2,300,000?

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 $2,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$189,932$188,240$186,589$184,978$183,405$176,198
2 years$94,026$92,275$90,577$88,932$87,336$80,163
3 years$62,061$60,302$58,610$56,980$55,409$48,497
4 years$46,082$44,329$42,653$41,051$39,518$32,918
5 years$36,497$34,754$33,100$31,531$30,041$23,771
6 years$30,109$28,379$26,750$25,215$23,771$17,834
7 years$25,548$23,833$22,229$20,731$19,332$13,727
8 years$22,129$20,429$18,852$17,391$16,038$10,758
9 years$19,471$17,787$16,237$14,813$13,506$8,545
10 years$17,346$15,679$14,156$12,769$11,508$6,855
11 years$15,608$13,958$12,463$11,113$9,897$5,542
12 years$14,161$12,528$11,060$9,747$8,577$4,508
13 years$12,938$11,321$9,882$8,606$7,479$3,684
14 years$11,890$10,291$8,879$7,639$6,556$3,022
15 years$10,983$9,401$8,016$6,813$5,772$2,487
16 years$10,190$8,625$7,268$6,100$5,102$2,052
17 years$9,491$7,943$6,614$5,481$4,524$1,696
18 years$8,870$7,340$6,037$4,939$4,022$1,405
19 years$8,316$6,803$5,527$4,463$3,585$1,165
20 years$7,817$6,321$5,072$4,042$3,202$967
21 years$7,366$5,888$4,666$3,669$2,866$803
22 years$6,957$5,496$4,300$3,336$2,569$668
23 years$6,585$5,141$3,970$3,038$2,306$556
24 years$6,243$4,816$3,672$2,771$2,072$463
25 years$5,930$4,520$3,401$2,530$1,865$385
26 years$5,641$4,248$3,154$2,314$1,680$321
27 years$5,374$3,998$2,929$2,118$1,514$268
28 years$5,126$3,767$2,723$1,940$1,367$223
29 years$4,896$3,554$2,534$1,779$1,234$186
30 years$4,682$3,356$2,360$1,633$1,115$155
31 years$4,482$3,173$2,200$1,500$1,008$129
32 years$4,294$3,002$2,053$1,378$912$108
33 years$4,119$2,843$1,917$1,267$825$90
34 years$3,954$2,695$1,791$1,166$747$75
35 years$3,799$2,556$1,674$1,073$677$63
36 years$3,653$2,426$1,566$989$613$52
37 years$3,515$2,304$1,466$911$556$44
38 years$3,385$2,190$1,373$840$504$36
39 years$3,261$2,082$1,286$774$457$30
40 years$3,144$1,981$1,206$714$414$25
41 years$3,034$1,886$1,131$659$376$21
42 years$2,928$1,796$1,060$608$341$18
43 years$2,828$1,711$995$561$310$15
44 years$2,733$1,631$934$518$281$12
45 years$2,642$1,555$877$479$255$10
46 years$2,555$1,484$824$442$232$9
47 years$2,473$1,416$774$408$210$7
48 years$2,393$1,352$727$377$191$6
49 years$2,318$1,291$684$349$173$5
50 years$2,246$1,233$643$322$158$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,300,000, adding $3,141 every year, while hoping to spend $58,864 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: 39/43/18 Blend
61$2,300,000$2,300,000$2,300,000$2,300,000
62$2,537,840$2,415,940$2,380,290$2,623,060
63$2,734,069$2,471,690$2,397,399$2,740,130
64$2,948,340$2,528,199$2,413,108$2,860,764
65$3,182,432$2,585,442$2,427,308$2,989,970
66$3,438,302$2,643,391$2,439,885$3,128,557
67$3,718,106$2,702,014$2,450,718$3,277,414
68$4,024,216$2,761,276$2,459,681$3,437,522
69$4,359,246$2,821,139$2,466,640$3,609,962
70$4,726,072$2,881,558$2,471,456$3,795,925
71$5,127,864$2,942,486$2,473,981$3,996,724
72$5,568,110$3,003,871$2,474,063$4,213,806
73$6,050,652$3,065,657$2,471,540$4,448,768
74$6,579,724$3,127,779$2,466,242$4,703,368
75$7,159,986$3,190,171$2,457,991$4,979,547
76$7,796,573$3,252,757$2,446,602$5,279,442
77$8,495,139$3,315,457$2,431,879$5,605,413
78$9,261,913$3,378,185$2,413,616$5,960,057
79$10,103,756$3,440,844$2,391,601$6,346,243
80$11,028,227$3,503,333$2,365,607$6,767,130
81$12,043,651$3,565,542$2,335,400$7,226,204
82$13,159,201$3,627,351$2,300,734$7,727,307
83$14,384,981$3,688,632$2,261,349$8,274,676
84$15,732,121$3,749,248$2,216,977$8,872,983
85$17,212,886$3,809,049$2,167,334$9,527,379
86$18,840,786$3,867,878$2,112,126$10,243,544
87$20,630,705$3,925,563$2,051,041$11,027,741
88$22,599,044$3,981,922$1,983,757$11,886,876
89$24,763,868$4,036,759$1,909,935$12,828,563
90$27,145,087$4,089,864$1,829,222$13,861,198
91$29,764,631$4,141,013$1,741,247$14,994,036
92$32,646,668$4,189,966$1,645,623$16,237,285
93$35,817,823$4,236,469$1,541,945$17,602,197
94$39,307,433$4,280,249$1,429,793$19,101,180
95$43,147,823$4,321,013$1,308,723$20,747,913
96$47,374,611$4,358,453$1,178,275$22,557,479
97$52,027,041$4,392,237$1,037,967$24,546,505
98$57,148,356$4,422,013$887,296$26,733,324
99$62,786,203$4,447,407$725,735$29,138,148
100$68,993,086$4,468,019$552,737$31,783,260