Can I retire at age 62 with 2,330,000?

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 $2,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$192,409$190,695$189,023$187,391$185,797$181,012
2 years$95,252$93,478$91,759$90,092$88,475$83,686
3 years$62,871$61,089$59,374$57,723$56,132$51,489
4 years$46,683$44,907$43,209$41,586$40,034$35,572
5 years$36,973$35,208$33,532$31,942$30,433$26,165
6 years$30,502$28,750$27,099$25,544$24,081$20,011
7 years$25,881$24,144$22,519$21,001$19,584$15,713
8 years$22,418$20,696$19,098$17,618$16,247$12,572
9 years$19,725$18,019$16,449$15,006$13,682$10,201
10 years$17,572$15,883$14,341$12,936$11,658$8,366
11 years$15,812$14,140$12,625$11,258$10,026$6,918
12 years$14,346$12,691$11,205$9,875$8,689$5,759
13 years$13,107$11,469$10,011$8,718$7,577$4,820
14 years$12,045$10,425$8,995$7,739$6,642$4,052
15 years$11,126$9,524$8,121$6,902$5,848$3,418
16 years$10,323$8,738$7,363$6,180$5,168$2,892
17 years$9,615$8,047$6,700$5,552$4,583$2,453
18 years$8,986$7,436$6,116$5,004$4,075$2,085
19 years$8,424$6,891$5,599$4,521$3,632$1,775
20 years$7,919$6,404$5,139$4,095$3,244$1,514
21 years$7,463$5,965$4,726$3,716$2,903$1,292
22 years$7,048$5,568$4,356$3,379$2,602$1,104
23 years$6,670$5,208$4,022$3,077$2,336$945
24 years$6,325$4,879$3,720$2,807$2,099$809
25 years$6,007$4,579$3,445$2,563$1,889$693
26 years$5,714$4,303$3,195$2,344$1,702$594
27 years$5,444$4,050$2,967$2,145$1,534$509
28 years$5,193$3,816$2,758$1,966$1,384$437
29 years$4,960$3,600$2,567$1,802$1,250$375
30 years$4,743$3,400$2,391$1,654$1,130$322
31 years$4,540$3,214$2,229$1,519$1,021$276
32 years$4,350$3,041$2,080$1,396$924$237
33 years$4,173$2,880$1,942$1,284$836$204
34 years$4,006$2,730$1,814$1,181$757$175
35 years$3,849$2,589$1,696$1,087$686$150
36 years$3,701$2,457$1,587$1,002$621$129
37 years$3,561$2,334$1,485$923$563$111
38 years$3,429$2,218$1,391$851$510$95
39 years$3,304$2,109$1,303$784$463$82
40 years$3,185$2,007$1,221$723$420$70
41 years$3,073$1,910$1,145$667$381$61
42 years$2,966$1,819$1,074$616$346$52
43 years$2,865$1,733$1,008$569$314$45
44 years$2,768$1,652$946$525$285$38
45 years$2,676$1,576$889$485$258$33
46 years$2,589$1,503$835$448$235$28
47 years$2,505$1,434$784$414$213$24
48 years$2,425$1,369$737$382$194$21
49 years$2,348$1,308$692$353$176$18
50 years$2,275$1,249$651$327$160$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,330,000, adding $5,769 every year, while hoping to spend $57,571 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: 35/43/22 Blend
61$2,330,000$2,330,000$2,330,000$2,330,000
62$2,573,611$2,450,121$2,414,006$2,646,308
63$2,774,864$2,508,922$2,433,620$2,759,225
64$2,994,715$2,568,674$2,451,961$2,875,269
65$3,235,001$2,629,364$2,468,927$2,999,308
66$3,497,744$2,690,975$2,484,408$3,132,090
67$3,785,168$2,753,487$2,498,290$3,274,439
68$4,099,725$2,816,878$2,510,453$3,427,263
69$4,444,114$2,881,122$2,520,770$3,591,562
70$4,821,306$2,946,189$2,529,108$3,768,440
71$5,234,574$3,012,048$2,535,329$3,959,113
72$5,687,523$3,078,661$2,539,285$4,164,920
73$6,184,122$3,145,986$2,540,822$4,387,340
74$6,728,743$3,213,980$2,539,780$4,628,002
75$7,326,201$3,282,592$2,535,989$4,888,702
76$7,981,800$3,351,765$2,529,271$5,171,422
77$8,701,383$3,421,441$2,519,441$5,478,343
78$9,491,385$3,491,552$2,506,303$5,811,876
79$10,358,894$3,562,026$2,489,652$6,174,674
80$11,311,720$3,632,784$2,469,274$6,569,665
81$12,358,465$3,703,740$2,444,944$7,000,079
82$13,508,605$3,774,801$2,416,427$7,469,474
83$14,772,582$3,845,865$2,383,477$7,981,776
84$16,161,897$3,916,824$2,345,835$8,541,314
85$17,689,221$3,987,559$2,303,231$9,152,859
86$19,368,514$4,057,942$2,255,382$9,821,676
87$21,215,158$4,127,836$2,201,992$10,553,567
88$23,246,098$4,197,094$2,142,752$11,354,932
89$25,480,003$4,265,555$2,077,338$12,232,825
90$27,937,446$4,333,049$2,005,411$13,195,029
91$30,641,089$4,399,393$1,926,617$14,250,120
92$33,615,907$4,464,389$1,840,584$15,407,559
93$36,889,412$4,527,827$1,746,927$16,677,774
94$40,491,922$4,589,481$1,645,239$18,072,266
95$44,456,842$4,649,109$1,535,099$19,603,713
96$48,820,978$4,706,454$1,416,063$21,286,095
97$53,624,887$4,761,239$1,287,670$23,134,826
98$58,913,255$4,813,170$1,149,437$25,166,900
99$64,735,324$4,861,932$1,000,860$27,401,051
100$71,145,351$4,907,190$841,412$29,857,938