Can I retire at age 62 with 2,320,000?

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 $2,320,000?

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$191,583$189,877$188,212$186,587$185,000$183,988
2 years$94,843$93,077$91,365$89,705$88,095$87,075
3 years$62,601$60,827$59,119$57,475$55,891$54,893
4 years$46,483$44,714$43,024$41,408$39,862$38,894
5 years$36,814$35,056$33,388$31,805$30,303$29,367
6 years$30,371$28,626$26,983$25,435$23,977$23,076
7 years$25,770$24,040$22,423$20,911$19,500$18,634
8 years$22,321$20,607$19,016$17,542$16,177$15,346
9 years$19,640$17,942$16,379$14,942$13,624$12,826
10 years$17,497$15,815$14,279$12,880$11,608$10,845
11 years$15,744$14,079$12,571$11,209$9,983$9,254
12 years$14,284$12,637$11,157$9,832$8,651$7,955
13 years$13,050$11,420$9,968$8,680$7,544$6,880
14 years$11,994$10,380$8,956$7,705$6,613$5,980
15 years$11,078$9,483$8,086$6,872$5,823$5,221
16 years$10,278$8,700$7,331$6,153$5,146$4,574
17 years$9,573$8,013$6,671$5,528$4,563$4,020
18 years$8,947$7,404$6,090$4,982$4,057$3,542
19 years$8,388$6,862$5,575$4,502$3,616$3,129
20 years$7,885$6,376$5,116$4,077$3,230$2,769
21 years$7,431$5,939$4,706$3,700$2,891$2,454
22 years$7,018$5,544$4,337$3,365$2,591$2,179
23 years$6,642$5,185$4,005$3,064$2,326$1,937
24 years$6,298$4,858$3,704$2,795$2,090$1,724
25 years$5,981$4,559$3,430$2,552$1,881$1,536
26 years$5,690$4,285$3,182$2,334$1,694$1,370
27 years$5,420$4,033$2,954$2,136$1,528$1,223
28 years$5,171$3,800$2,746$1,957$1,378$1,092
29 years$4,939$3,585$2,556$1,795$1,245$976
30 years$4,723$3,386$2,381$1,647$1,125$873
31 years$4,521$3,200$2,219$1,513$1,017$781
32 years$4,332$3,028$2,071$1,390$920$699
33 years$4,155$2,868$1,933$1,278$832$626
34 years$3,989$2,718$1,807$1,176$754$561
35 years$3,832$2,578$1,689$1,083$683$502
36 years$3,685$2,447$1,580$997$618$450
37 years$3,546$2,324$1,479$919$561$404
38 years$3,414$2,209$1,385$847$508$362
39 years$3,290$2,100$1,297$781$461$325
40 years$3,172$1,998$1,216$720$418$291
41 years$3,060$1,902$1,140$665$379$261
42 years$2,954$1,811$1,070$613$344$234
43 years$2,853$1,726$1,004$566$312$210
44 years$2,756$1,645$942$523$283$189
45 years$2,665$1,569$885$483$257$169
46 years$2,577$1,497$831$446$234$152
47 years$2,494$1,428$781$412$212$137
48 years$2,414$1,363$734$381$193$123
49 years$2,338$1,302$690$352$175$110
50 years$2,265$1,244$648$325$159$99

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,320,000, adding $5,608 every year, while hoping to spend $27,674 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: 62/9/29 Blend
61$2,320,000$2,320,000$2,320,000$2,320,000
62$2,562,425$2,439,465$2,403,505$2,700,980
63$2,794,347$2,529,553$2,454,577$2,885,976
64$3,048,998$2,623,129$2,506,433$3,084,412
65$3,328,667$2,720,333$2,559,069$3,300,520
66$3,635,875$2,821,314$2,612,482$3,536,035
67$3,973,400$2,926,224$2,666,666$3,792,869
68$4,344,303$3,035,225$2,721,616$4,073,126
69$4,751,954$3,148,484$2,777,323$4,379,123
70$5,200,069$3,266,175$2,833,779$4,713,411
71$5,692,740$3,388,481$2,890,973$5,078,802
72$6,234,474$3,515,591$2,948,896$5,478,389
73$6,830,238$3,647,704$3,007,532$5,915,581
74$7,485,506$3,785,025$3,066,868$6,394,132
75$8,206,307$3,927,770$3,126,887$6,918,178
76$8,999,284$4,076,164$3,187,571$7,492,273
77$9,871,756$4,230,441$3,248,900$8,121,435
78$10,831,788$4,390,846$3,310,852$8,811,190
79$11,888,267$4,557,634$3,373,402$9,567,627
80$13,050,983$4,731,071$3,436,523$10,397,452
81$14,330,725$4,911,435$3,500,189$11,308,053
82$15,739,380$5,099,016$3,564,366$12,307,572
83$17,290,045$5,294,117$3,629,020$13,404,976
84$18,997,154$5,497,052$3,694,117$14,610,144
85$20,876,609$5,708,153$3,759,614$15,933,960
86$22,945,933$5,927,762$3,825,471$17,388,419
87$25,224,435$6,156,240$3,891,642$18,986,732
88$27,733,392$6,393,960$3,958,076$20,743,458
89$30,496,248$6,641,315$4,024,723$22,674,635
90$33,538,839$6,898,713$4,091,524$24,797,938
91$36,889,631$7,166,580$4,158,421$27,132,838
92$40,579,993$7,445,362$4,225,348$29,700,791
93$44,644,493$7,735,525$4,292,237$32,525,438
94$49,121,219$8,037,554$4,359,015$35,632,828
95$54,052,146$8,351,957$4,425,605$39,051,662
96$59,483,525$8,679,263$4,491,923$42,813,569
97$65,466,324$9,020,026$4,557,881$46,953,396
98$72,056,706$9,374,824$4,623,387$51,509,544
99$79,316,560$9,744,261$4,688,341$56,524,325
100$87,314,087$10,128,967$4,752,638$62,044,366