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%15%
1 years$189,932$188,240$186,589$184,978$183,405$179,629
2 years$94,026$92,275$90,577$88,932$87,336$83,548
3 years$62,061$60,302$58,610$56,980$55,409$51,729
4 years$46,082$44,329$42,653$41,051$39,518$35,973
5 years$36,497$34,754$33,100$31,531$30,041$26,642
6 years$30,109$28,379$26,750$25,215$23,771$20,520
7 years$25,548$23,833$22,229$20,731$19,332$16,231
8 years$22,129$20,429$18,852$17,391$16,038$13,086
9 years$19,471$17,787$16,237$14,813$13,506$10,701
10 years$17,346$15,679$14,156$12,769$11,508$8,847
11 years$15,608$13,958$12,463$11,113$9,897$7,377
12 years$14,161$12,528$11,060$9,747$8,577$6,194
13 years$12,938$11,321$9,882$8,606$7,479$5,229
14 years$11,890$10,291$8,879$7,639$6,556$4,435
15 years$10,983$9,401$8,016$6,813$5,772$3,775
16 years$10,190$8,625$7,268$6,100$5,102$3,224
17 years$9,491$7,943$6,614$5,481$4,524$2,760
18 years$8,870$7,340$6,037$4,939$4,022$2,369
19 years$8,316$6,803$5,527$4,463$3,585$2,036
20 years$7,817$6,321$5,072$4,042$3,202$1,753
21 years$7,366$5,888$4,666$3,669$2,866$1,512
22 years$6,957$5,496$4,300$3,336$2,569$1,305
23 years$6,585$5,141$3,970$3,038$2,306$1,128
24 years$6,243$4,816$3,672$2,771$2,072$975
25 years$5,930$4,520$3,401$2,530$1,865$844
26 years$5,641$4,248$3,154$2,314$1,680$731
27 years$5,374$3,998$2,929$2,118$1,514$633
28 years$5,126$3,767$2,723$1,940$1,367$549
29 years$4,896$3,554$2,534$1,779$1,234$476
30 years$4,682$3,356$2,360$1,633$1,115$413
31 years$4,482$3,173$2,200$1,500$1,008$359
32 years$4,294$3,002$2,053$1,378$912$311
33 years$4,119$2,843$1,917$1,267$825$270
34 years$3,954$2,695$1,791$1,166$747$235
35 years$3,799$2,556$1,674$1,073$677$204
36 years$3,653$2,426$1,566$989$613$177
37 years$3,515$2,304$1,466$911$556$154
38 years$3,385$2,190$1,373$840$504$134
39 years$3,261$2,082$1,286$774$457$116
40 years$3,144$1,981$1,206$714$414$101
41 years$3,034$1,886$1,131$659$376$88
42 years$2,928$1,796$1,060$608$341$76
43 years$2,828$1,711$995$561$310$66
44 years$2,733$1,631$934$518$281$58
45 years$2,642$1,555$877$479$255$50
46 years$2,555$1,484$824$442$232$44
47 years$2,473$1,416$774$408$210$38
48 years$2,393$1,352$727$377$191$33
49 years$2,318$1,291$684$349$173$29
50 years$2,246$1,233$643$322$158$25

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 $6,513 every year, while hoping to spend $32,472 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: 77/9/14 Blend
61$2,300,000$2,300,000$2,300,000$2,300,000
62$2,541,318$2,419,418$2,383,768$2,729,146
63$2,765,983$2,503,420$2,429,074$2,937,886
64$3,012,475$2,590,449$2,474,810$3,161,973
65$3,282,986$2,680,620$2,520,955$3,406,801
66$3,579,932$2,774,052$2,567,489$3,674,427
67$3,905,972$2,870,867$2,614,386$3,967,115
68$4,264,035$2,971,194$2,661,623$4,287,361
69$4,657,351$3,075,166$2,709,171$4,637,912
70$5,089,473$3,182,922$2,757,001$5,021,794
71$5,564,320$3,294,606$2,805,081$5,442,340
72$6,086,207$3,410,368$2,853,377$5,903,221
73$6,659,887$3,530,363$2,901,852$6,408,480
74$7,290,598$3,654,753$2,950,467$6,962,572
75$7,984,112$3,783,709$2,999,180$7,570,403
76$8,746,784$3,917,404$3,047,946$8,237,377
77$9,585,621$4,056,021$3,096,717$8,969,450
78$10,508,339$4,199,750$3,145,441$9,773,179
79$11,523,440$4,348,789$3,194,065$10,655,792
80$12,640,295$4,503,344$3,242,530$11,625,248
81$13,869,225$4,663,628$3,290,774$12,690,319
82$15,221,604$4,829,863$3,338,733$13,860,667
83$16,709,964$5,002,283$3,386,337$15,146,938
84$18,348,112$5,181,127$3,433,512$16,560,860
85$20,151,265$5,366,647$3,480,179$18,115,357
86$22,136,186$5,559,105$3,526,257$19,824,668
87$24,321,347$5,758,771$3,571,657$21,704,479
88$26,727,105$5,965,931$3,616,288$23,772,076
89$29,375,886$6,180,878$3,660,050$26,046,505
90$32,292,405$6,403,920$3,702,841$28,548,751
91$35,503,895$6,635,377$3,744,551$31,301,936
92$39,040,364$6,875,582$3,785,064$34,331,538
93$42,934,877$7,124,881$3,824,260$37,665,630
94$47,223,871$7,383,637$3,862,009$41,335,146
95$51,947,495$7,652,225$3,898,176$45,374,170
96$57,149,994$7,931,038$3,932,619$49,820,262
97$62,880,118$8,220,484$3,965,187$54,714,806
98$69,191,591$8,520,989$3,995,721$60,103,406
99$76,143,613$8,832,996$4,024,057$66,036,313
100$83,801,416$9,156,968$4,050,018$72,568,899