Can I retire at age 62 with 2,310,000?

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 $2,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$190,758$189,058$187,401$185,783$184,203$183,195
2 years$94,434$92,676$90,971$89,319$87,716$86,699
3 years$62,331$60,565$58,864$57,227$55,650$54,656
4 years$46,282$44,521$42,838$41,229$39,690$38,726
5 years$36,656$34,905$33,244$31,668$30,172$29,241
6 years$30,240$28,503$26,866$25,325$23,874$22,977
7 years$25,659$23,937$22,326$20,821$19,416$18,553
8 years$22,225$20,518$18,934$17,466$16,107$15,279
9 years$19,556$17,865$16,308$14,877$13,565$12,771
10 years$17,421$15,747$14,218$12,824$11,558$10,798
11 years$15,676$14,019$12,517$11,161$9,940$9,214
12 years$14,223$12,582$11,109$9,790$8,614$7,920
13 years$12,994$11,371$9,925$8,643$7,512$6,850
14 years$11,942$10,336$8,917$7,672$6,585$5,955
15 years$11,031$9,442$8,051$6,842$5,798$5,198
16 years$10,234$8,663$7,300$6,127$5,124$4,554
17 years$9,532$7,978$6,642$5,505$4,543$4,003
18 years$8,909$7,372$6,064$4,961$4,040$3,527
19 years$8,352$6,832$5,551$4,482$3,601$3,115
20 years$7,851$6,349$5,094$4,060$3,216$2,757
21 years$7,398$5,914$4,686$3,684$2,878$2,444
22 years$6,988$5,520$4,319$3,350$2,580$2,170
23 years$6,613$5,163$3,988$3,051$2,316$1,929
24 years$6,270$4,837$3,688$2,783$2,081$1,717
25 years$5,956$4,540$3,416$2,541$1,873$1,530
26 years$5,665$4,267$3,168$2,324$1,687$1,364
27 years$5,397$4,015$2,942$2,127$1,521$1,217
28 years$5,148$3,784$2,735$1,949$1,372$1,087
29 years$4,917$3,569$2,545$1,787$1,239$972
30 years$4,702$3,371$2,370$1,640$1,120$869
31 years$4,501$3,187$2,210$1,506$1,012$777
32 years$4,313$3,015$2,062$1,384$916$696
33 years$4,137$2,855$1,925$1,273$829$623
34 years$3,971$2,706$1,799$1,171$750$558
35 years$3,816$2,567$1,682$1,078$680$500
36 years$3,669$2,436$1,573$993$616$448
37 years$3,530$2,314$1,472$915$558$402
38 years$3,399$2,199$1,379$843$506$360
39 years$3,276$2,091$1,292$778$459$323
40 years$3,158$1,990$1,211$717$416$290
41 years$3,047$1,894$1,135$662$378$260
42 years$2,941$1,804$1,065$611$343$233
43 years$2,840$1,719$999$564$311$209
44 years$2,745$1,638$938$520$282$188
45 years$2,653$1,562$881$481$256$169
46 years$2,566$1,490$827$444$233$151
47 years$2,483$1,422$777$410$211$136
48 years$2,404$1,358$730$379$192$122
49 years$2,328$1,296$687$350$174$110
50 years$2,255$1,238$645$324$158$98

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,310,000, adding $3,481 every year, while hoping to spend $42,663 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: 47/34/19 Blend
61$2,310,000$2,310,000$2,310,000$2,310,000
62$2,549,211$2,426,781$2,390,976$2,655,123
63$2,763,837$2,500,300$2,425,680$2,802,799
64$2,998,925$2,575,992$2,460,118$2,958,420
65$3,256,518$2,653,917$2,494,234$3,126,435
66$3,538,863$2,734,140$2,527,971$3,308,018
67$3,848,439$2,816,724$2,561,270$3,504,464
68$4,187,972$2,901,736$2,594,065$3,717,197
69$4,560,468$2,989,244$2,626,289$3,947,784
70$4,969,237$3,079,318$2,657,870$4,197,951
71$5,417,923$3,172,028$2,688,733$4,469,596
72$5,910,543$3,267,449$2,718,797$4,764,810
73$6,451,519$3,365,655$2,747,978$5,085,894
74$7,045,726$3,466,724$2,776,186$5,435,382
75$7,698,530$3,570,734$2,803,329$5,816,064
76$8,415,845$3,677,765$2,829,306$6,231,012
77$9,204,187$3,787,901$2,854,013$6,683,611
78$10,070,733$3,901,227$2,877,341$7,177,585
79$11,023,389$4,017,828$2,899,173$7,717,040
80$12,070,867$4,137,795$2,919,388$8,306,494
81$13,222,766$4,261,217$2,937,858$8,950,927
82$14,489,659$4,388,188$2,954,448$9,655,822
83$15,883,199$4,518,803$2,969,016$10,427,221
84$17,416,220$4,653,159$2,981,413$11,271,776
85$19,102,867$4,791,356$2,991,482$12,196,820
86$20,958,722$4,933,496$2,999,061$13,210,426
87$23,000,958$5,079,683$3,003,974$14,321,492
88$25,248,491$5,230,023$3,006,043$15,539,820
89$27,722,167$5,384,625$3,005,076$16,876,206
90$30,444,957$5,543,600$3,000,874$18,342,550
91$33,442,167$5,707,061$2,993,228$19,951,958
92$36,741,685$5,875,124$2,981,919$21,718,873
93$40,374,239$6,047,907$2,966,715$23,659,207
94$44,373,688$6,225,531$2,947,377$25,790,493
95$48,777,341$6,408,119$2,923,651$28,132,049
96$53,626,309$6,595,796$2,895,272$30,705,162
97$58,965,893$6,788,690$2,861,964$33,533,285
98$64,846,010$6,986,932$2,823,436$36,642,264
99$71,321,665$7,190,654$2,779,383$40,060,574
100$78,453,470$7,399,991$2,729,487$43,819,595