Can I retire at age 62 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$194,061$192,332$190,646$189,000$187,392$186,133
2 years$96,070$94,280$92,546$90,865$89,234$87,965
3 years$63,410$61,613$59,884$58,218$56,614$55,373
4 years$47,084$45,292$43,580$41,943$40,378$39,175
5 years$37,290$35,510$33,820$32,216$30,694$29,533
6 years$30,764$28,996$27,331$25,764$24,287$23,169
7 years$26,103$24,351$22,713$21,182$19,752$18,678
8 years$22,610$20,873$19,262$17,769$16,386$15,356
9 years$19,894$18,174$16,590$15,135$13,800$12,812
10 years$17,723$16,020$14,464$13,047$11,758$10,814
11 years$15,948$14,261$12,734$11,354$10,112$9,210
12 years$14,469$12,800$11,301$9,959$8,763$7,902
13 years$13,219$11,568$10,097$8,793$7,642$6,822
14 years$12,149$10,515$9,072$7,805$6,699$5,918
15 years$11,222$9,605$8,191$6,961$5,898$5,156
16 years$10,411$8,813$7,426$6,233$5,213$4,508
17 years$9,697$8,116$6,757$5,600$4,622$3,954
18 years$9,063$7,500$6,169$5,047$4,110$3,477
19 years$8,496$6,951$5,647$4,560$3,663$3,064
20 years$7,987$6,459$5,183$4,130$3,272$2,706
21 years$7,527$6,016$4,767$3,748$2,928$2,393
22 years$7,109$5,616$4,394$3,408$2,624$2,120
23 years$6,728$5,252$4,057$3,104$2,356$1,880
24 years$6,379$4,921$3,752$2,831$2,117$1,670
25 years$6,059$4,618$3,475$2,585$1,905$1,484
26 years$5,763$4,340$3,223$2,364$1,716$1,321
27 years$5,491$4,085$2,993$2,164$1,547$1,176
28 years$5,238$3,849$2,782$1,982$1,396$1,048
29 years$5,003$3,631$2,589$1,818$1,261$934
30 years$4,784$3,429$2,411$1,668$1,139$833
31 years$4,579$3,242$2,248$1,532$1,030$744
32 years$4,388$3,067$2,098$1,408$932$664
33 years$4,209$2,905$1,958$1,295$843$593
34 years$4,040$2,753$1,830$1,191$763$530
35 years$3,882$2,611$1,711$1,097$691$474
36 years$3,732$2,479$1,600$1,010$626$423
37 years$3,591$2,354$1,498$931$568$379
38 years$3,458$2,237$1,403$858$515$339
39 years$3,332$2,127$1,314$791$467$303
40 years$3,213$2,024$1,232$730$423$271
41 years$3,100$1,927$1,155$673$384$243
42 years$2,992$1,835$1,084$621$349$217
43 years$2,890$1,748$1,017$573$316$194
44 years$2,792$1,666$954$529$287$174
45 years$2,699$1,589$896$489$261$156
46 years$2,611$1,516$842$452$237$139
47 years$2,526$1,447$791$417$215$125
48 years$2,446$1,381$743$386$195$112
49 years$2,368$1,319$698$356$177$100
50 years$2,294$1,260$657$329$161$90

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,350,000, adding $5,514 every year, while hoping to spend $44,096 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: 63/13/24 Blend
61$2,350,000$2,350,000$2,350,000$2,350,000
62$2,595,388$2,470,838$2,434,413$2,742,206
63$2,813,199$2,544,991$2,469,048$2,916,266
64$3,051,750$2,621,300$2,503,365$3,100,917
65$3,313,108$2,699,823$2,537,308$3,301,615
66$3,599,553$2,780,622$2,570,815$3,519,935
67$3,913,592$2,863,758$2,603,822$3,757,612
68$4,257,991$2,949,294$2,636,263$4,016,557
69$4,635,793$3,037,296$2,668,064$4,298,874
70$5,050,350$3,127,830$2,699,150$4,606,881
71$5,505,355$3,220,963$2,729,442$4,943,132
72$6,004,877$3,316,766$2,758,854$5,310,439
73$6,553,397$3,415,310$2,787,298$5,711,902
74$7,155,850$3,516,667$2,814,679$6,150,933
75$7,817,675$3,620,912$2,840,899$6,631,294
76$8,544,862$3,728,120$2,865,852$7,157,129
77$9,344,009$3,838,370$2,889,430$7,733,003
78$10,222,389$3,951,740$2,911,517$8,363,945
79$11,188,010$4,068,313$2,931,990$9,055,497
80$12,249,696$4,188,170$2,950,721$9,813,765
81$13,417,171$4,311,396$2,967,576$10,645,478
82$14,701,145$4,438,077$2,982,412$11,558,049
83$16,113,421$4,568,301$2,995,082$12,559,646
84$17,667,000$4,702,159$3,005,428$13,659,271
85$19,376,210$4,839,740$3,013,285$14,866,841
86$21,256,835$4,981,140$3,018,482$16,193,285
87$23,326,268$5,126,451$3,020,837$17,650,647
88$25,603,673$5,275,772$3,020,160$19,252,198
89$28,110,163$5,429,201$3,016,251$21,012,560
90$30,869,005$5,586,837$3,008,901$22,947,848
91$33,905,835$5,748,783$2,997,891$25,075,819
92$37,248,899$5,915,143$2,982,989$27,416,042
93$40,929,323$6,086,021$2,963,956$29,990,081
94$44,981,403$6,261,525$2,940,537$32,821,697
95$49,442,929$6,441,763$2,912,469$35,937,078
96$54,355,545$6,626,846$2,879,473$39,365,079
97$59,765,134$6,816,885$2,841,258$43,137,501
98$65,722,259$7,011,994$2,797,522$47,289,387
99$72,282,634$7,212,287$2,747,944$51,859,354
100$79,507,654$7,417,880$2,692,192$56,889,960