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%12.1%
1 years$190,758$189,058$187,401$185,783$184,203$182,583
2 years$94,434$92,676$90,971$89,319$87,716$86,083
3 years$62,331$60,565$58,864$57,227$55,650$54,056
4 years$46,282$44,521$42,838$41,229$39,690$38,147
5 years$36,656$34,905$33,244$31,668$30,172$28,683
6 years$30,240$28,503$26,866$25,325$23,874$22,442
7 years$25,659$23,937$22,326$20,821$19,416$18,042
8 years$22,225$20,518$18,934$17,466$16,107$14,790
9 years$19,556$17,865$16,308$14,877$13,565$12,305
10 years$17,421$15,747$14,218$12,824$11,558$10,354
11 years$15,676$14,019$12,517$11,161$9,940$8,792
12 years$14,223$12,582$11,109$9,790$8,614$7,520
13 years$12,994$11,371$9,925$8,643$7,512$6,470
14 years$11,942$10,336$8,917$7,672$6,585$5,595
15 years$11,031$9,442$8,051$6,842$5,798$4,858
16 years$10,234$8,663$7,300$6,127$5,124$4,233
17 years$9,532$7,978$6,642$5,505$4,543$3,700
18 years$8,909$7,372$6,064$4,961$4,040$3,242
19 years$8,352$6,832$5,551$4,482$3,601$2,847
20 years$7,851$6,349$5,094$4,060$3,216$2,505
21 years$7,398$5,914$4,686$3,684$2,878$2,207
22 years$6,988$5,520$4,319$3,350$2,580$1,948
23 years$6,613$5,163$3,988$3,051$2,316$1,721
24 years$6,270$4,837$3,688$2,783$2,081$1,523
25 years$5,956$4,540$3,416$2,541$1,873$1,348
26 years$5,665$4,267$3,168$2,324$1,687$1,195
27 years$5,397$4,015$2,942$2,127$1,521$1,060
28 years$5,148$3,784$2,735$1,949$1,372$941
29 years$4,917$3,569$2,545$1,787$1,239$835
30 years$4,702$3,371$2,370$1,640$1,120$742
31 years$4,501$3,187$2,210$1,506$1,012$660
32 years$4,313$3,015$2,062$1,384$916$586
33 years$4,137$2,855$1,925$1,273$829$522
34 years$3,971$2,706$1,799$1,171$750$464
35 years$3,816$2,567$1,682$1,078$680$413
36 years$3,669$2,436$1,573$993$616$368
37 years$3,530$2,314$1,472$915$558$328
38 years$3,399$2,199$1,379$843$506$292
39 years$3,276$2,091$1,292$778$459$260
40 years$3,158$1,990$1,211$717$416$231
41 years$3,047$1,894$1,135$662$378$206
42 years$2,941$1,804$1,065$611$343$184
43 years$2,840$1,719$999$564$311$164
44 years$2,745$1,638$938$520$282$146
45 years$2,653$1,562$881$481$256$130
46 years$2,566$1,490$827$444$233$116
47 years$2,483$1,422$777$410$211$103
48 years$2,404$1,358$730$379$192$92
49 years$2,328$1,296$687$350$174$82
50 years$2,255$1,238$645$324$158$73

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 $3,857 every year, while hoping to spend $51,553 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: 80/11/9 Blend
61$2,310,000$2,310,000$2,310,000$2,310,000
62$2,549,598$2,427,168$2,391,363$2,749,872
63$2,754,806$2,491,248$2,416,622$2,945,821
64$2,979,216$2,556,739$2,440,999$3,153,641
65$3,224,734$2,623,657$2,464,411$3,380,149
66$3,493,456$2,692,016$2,486,768$3,627,188
67$3,787,692$2,761,828$2,507,978$3,896,785
68$4,109,984$2,833,105$2,527,942$4,191,175
69$4,463,131$2,905,856$2,546,558$4,512,818
70$4,850,219$2,980,091$2,563,716$4,864,424
71$5,274,643$3,055,817$2,579,302$5,248,977
72$5,740,143$3,133,039$2,593,195$5,669,764
73$6,250,841$3,211,761$2,605,270$6,130,408
74$6,811,274$3,291,984$2,615,393$6,634,896
75$7,426,440$3,373,708$2,623,426$7,187,622
76$8,101,846$3,456,929$2,629,220$7,793,428
77$8,843,558$3,541,643$2,632,623$8,457,646
78$9,658,258$3,627,840$2,633,472$9,186,150
79$10,553,305$3,715,509$2,631,598$9,985,414
80$11,536,810$3,804,636$2,626,824$10,862,567
81$12,617,704$3,895,203$2,618,962$11,825,466
82$13,805,830$3,987,188$2,607,818$12,882,767
83$15,112,030$4,080,565$2,593,185$14,044,007
84$16,548,250$4,175,306$2,574,849$15,319,694
85$18,127,650$4,271,374$2,552,585$16,721,406
86$19,864,730$4,368,732$2,526,157$18,261,900
87$21,775,466$4,467,334$2,495,317$19,955,231
88$23,877,461$4,567,130$2,459,807$21,816,890
89$26,190,107$4,668,064$2,419,356$23,863,940
90$28,734,773$4,770,075$2,373,680$26,115,189
91$31,535,003$4,873,092$2,322,481$28,591,356
92$34,616,739$4,977,039$2,265,450$31,315,275
93$38,008,565$5,081,832$2,202,261$34,312,105
94$41,741,976$5,187,380$2,132,574$37,609,572
95$45,851,676$5,293,580$2,056,034$41,238,225
96$50,375,904$5,400,322$1,972,268$45,231,730
97$55,356,795$5,507,486$1,880,888$49,627,182
98$60,840,777$5,614,942$1,781,486$54,465,460
99$66,879,010$5,722,547$1,673,639$59,791,611
100$73,527,865$5,830,148$1,556,902$65,655,275