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%15.3%
1 years$189,932$188,240$186,589$184,978$183,405$179,409
2 years$94,026$92,275$90,577$88,932$87,336$83,330
3 years$62,061$60,302$58,610$56,980$55,409$51,519
4 years$46,082$44,329$42,653$41,051$39,518$35,773
5 years$36,497$34,754$33,100$31,531$30,041$26,452
6 years$30,109$28,379$26,750$25,215$23,771$20,341
7 years$25,548$23,833$22,229$20,731$19,332$16,062
8 years$22,129$20,429$18,852$17,391$16,038$12,927
9 years$19,471$17,787$16,237$14,813$13,506$10,552
10 years$17,346$15,679$14,156$12,769$11,508$8,708
11 years$15,608$13,958$12,463$11,113$9,897$7,247
12 years$14,161$12,528$11,060$9,747$8,577$6,073
13 years$12,938$11,321$9,882$8,606$7,479$5,117
14 years$11,890$10,291$8,879$7,639$6,556$4,331
15 years$10,983$9,401$8,016$6,813$5,772$3,679
16 years$10,190$8,625$7,268$6,100$5,102$3,135
17 years$9,491$7,943$6,614$5,481$4,524$2,678
18 years$8,870$7,340$6,037$4,939$4,022$2,293
19 years$8,316$6,803$5,527$4,463$3,585$1,967
20 years$7,817$6,321$5,072$4,042$3,202$1,690
21 years$7,366$5,888$4,666$3,669$2,866$1,454
22 years$6,957$5,496$4,300$3,336$2,569$1,252
23 years$6,585$5,141$3,970$3,038$2,306$1,079
24 years$6,243$4,816$3,672$2,771$2,072$931
25 years$5,930$4,520$3,401$2,530$1,865$804
26 years$5,641$4,248$3,154$2,314$1,680$695
27 years$5,374$3,998$2,929$2,118$1,514$601
28 years$5,126$3,767$2,723$1,940$1,367$519
29 years$4,896$3,554$2,534$1,779$1,234$449
30 years$4,682$3,356$2,360$1,633$1,115$389
31 years$4,482$3,173$2,200$1,500$1,008$337
32 years$4,294$3,002$2,053$1,378$912$291
33 years$4,119$2,843$1,917$1,267$825$252
34 years$3,954$2,695$1,791$1,166$747$219
35 years$3,799$2,556$1,674$1,073$677$189
36 years$3,653$2,426$1,566$989$613$164
37 years$3,515$2,304$1,466$911$556$142
38 years$3,385$2,190$1,373$840$504$123
39 years$3,261$2,082$1,286$774$457$107
40 years$3,144$1,981$1,206$714$414$93
41 years$3,034$1,886$1,131$659$376$80
42 years$2,928$1,796$1,060$608$341$70
43 years$2,828$1,711$995$561$310$60
44 years$2,733$1,631$934$518$281$52
45 years$2,642$1,555$877$479$255$45
46 years$2,555$1,484$824$442$232$39
47 years$2,473$1,416$774$408$210$34
48 years$2,393$1,352$727$377$191$30
49 years$2,318$1,291$684$349$173$26
50 years$2,246$1,233$643$322$158$22

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 $2,797 every year, while hoping to spend $59,774 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: 55/37/8 Blend
61$2,300,000$2,300,000$2,300,000$2,300,000
62$2,537,485$2,415,585$2,379,935$2,672,082
63$2,732,710$2,470,350$2,396,064$2,818,110
64$2,945,843$2,525,794$2,410,730$2,970,177
65$3,178,651$2,581,889$2,423,820$3,134,295
66$3,433,072$2,638,601$2,435,218$3,311,618
67$3,711,247$2,695,894$2,444,798$3,503,417
68$4,015,527$2,753,725$2,452,432$3,711,093
69$4,348,504$2,812,051$2,457,982$3,936,187
70$4,713,031$2,870,822$2,461,304$4,180,399
71$5,112,252$2,929,984$2,462,249$4,445,598
72$5,549,625$2,989,476$2,460,658$4,733,847
73$6,028,962$3,049,236$2,456,365$5,047,416
74$6,554,460$3,109,192$2,449,197$5,388,808
75$7,130,740$3,169,268$2,438,971$5,760,780
76$7,762,894$3,229,381$2,425,495$6,166,370
77$8,456,530$3,289,441$2,408,570$6,608,925
78$9,217,824$3,349,352$2,387,985$7,092,135
79$10,053,580$3,409,008$2,363,520$7,620,063
80$10,971,293$3,468,297$2,334,946$8,197,191
81$11,979,218$3,527,097$2,302,020$8,828,455
82$13,086,450$3,585,276$2,264,489$9,519,296
83$14,303,009$3,642,696$2,222,090$10,275,711
84$15,639,931$3,699,203$2,174,546$11,104,307
85$17,109,377$3,754,637$2,121,566$12,012,369
86$18,724,743$3,808,824$2,062,848$13,007,924
87$20,500,788$3,861,577$1,998,075$14,099,819
88$22,453,772$3,912,698$1,926,914$15,297,805
89$24,601,611$3,961,974$1,849,019$16,612,630
90$26,964,042$4,009,178$1,764,028$18,056,139
91$29,562,813$4,054,066$1,671,562$19,641,387
92$32,421,884$4,096,379$1,571,223$21,382,764
93$35,567,656$4,135,842$1,462,599$23,296,130
94$39,029,216$4,172,158$1,345,255$25,398,967
95$42,838,617$4,205,014$1,218,742$27,710,539
96$47,031,171$4,234,075$1,082,585$30,252,084
97$51,645,791$4,258,985$936,292$33,047,007
98$56,725,351$4,279,365$779,348$36,121,105
99$62,317,095$4,294,812$611,214$39,502,811
100$68,473,078$4,304,897$431,329$43,223,464