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%16.3%
1 years$194,061$192,332$190,646$189,000$187,392$182,566
2 years$96,070$94,280$92,546$90,865$89,234$84,404
3 years$63,410$61,613$59,884$58,218$56,614$51,931
4 years$47,084$45,292$43,580$41,943$40,378$35,877
5 years$37,290$35,510$33,820$32,216$30,694$26,390
6 years$30,764$28,996$27,331$25,764$24,287$20,183
7 years$26,103$24,351$22,713$21,182$19,752$15,848
8 years$22,610$20,873$19,262$17,769$16,386$12,680
9 years$19,894$18,174$16,590$15,135$13,800$10,288
10 years$17,723$16,020$14,464$13,047$11,758$8,438
11 years$15,948$14,261$12,734$11,354$10,112$6,978
12 years$14,469$12,800$11,301$9,959$8,763$5,809
13 years$13,219$11,568$10,097$8,793$7,642$4,862
14 years$12,149$10,515$9,072$7,805$6,699$4,087
15 years$11,222$9,605$8,191$6,961$5,898$3,448
16 years$10,411$8,813$7,426$6,233$5,213$2,917
17 years$9,697$8,116$6,757$5,600$4,622$2,474
18 years$9,063$7,500$6,169$5,047$4,110$2,103
19 years$8,496$6,951$5,647$4,560$3,663$1,790
20 years$7,987$6,459$5,183$4,130$3,272$1,527
21 years$7,527$6,016$4,767$3,748$2,928$1,303
22 years$7,109$5,616$4,394$3,408$2,624$1,114
23 years$6,728$5,252$4,057$3,104$2,356$953
24 years$6,379$4,921$3,752$2,831$2,117$816
25 years$6,059$4,618$3,475$2,585$1,905$699
26 years$5,763$4,340$3,223$2,364$1,716$599
27 years$5,491$4,085$2,993$2,164$1,547$513
28 years$5,238$3,849$2,782$1,982$1,396$440
29 years$5,003$3,631$2,589$1,818$1,261$378
30 years$4,784$3,429$2,411$1,668$1,139$324
31 years$4,579$3,242$2,248$1,532$1,030$278
32 years$4,388$3,067$2,098$1,408$932$239
33 years$4,209$2,905$1,958$1,295$843$205
34 years$4,040$2,753$1,830$1,191$763$176
35 years$3,882$2,611$1,711$1,097$691$152
36 years$3,732$2,479$1,600$1,010$626$130
37 years$3,591$2,354$1,498$931$568$112
38 years$3,458$2,237$1,403$858$515$96
39 years$3,332$2,127$1,314$791$467$83
40 years$3,213$2,024$1,232$730$423$71
41 years$3,100$1,927$1,155$673$384$61
42 years$2,992$1,835$1,084$621$349$52
43 years$2,890$1,748$1,017$573$316$45
44 years$2,792$1,666$954$529$287$39
45 years$2,699$1,589$896$489$261$33
46 years$2,611$1,516$842$452$237$29
47 years$2,526$1,447$791$417$215$25
48 years$2,446$1,381$743$386$195$21
49 years$2,368$1,319$698$356$177$18
50 years$2,294$1,260$657$329$161$16

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 $3,956 every year, while hoping to spend $22,295 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: 77/5/18 Blend
61$2,350,000$2,350,000$2,350,000$2,350,000
62$2,593,781$2,469,231$2,432,806$2,782,657
63$2,834,625$2,566,501$2,490,583$3,005,293
64$3,099,287$2,667,791$2,549,548$3,246,217
65$3,390,175$2,773,273$2,609,719$3,509,839
66$3,709,938$2,883,128$2,671,109$3,798,423
67$4,061,497$2,997,547$2,733,737$4,114,458
68$4,448,069$3,116,726$2,797,616$4,460,688
69$4,873,198$3,240,872$2,862,763$4,840,134
70$5,340,791$3,370,201$2,929,192$5,256,124
71$5,855,150$3,504,939$2,996,918$5,712,325
72$6,421,016$3,645,322$3,065,955$6,212,774
73$7,043,612$3,791,595$3,136,318$6,761,920
74$7,728,694$3,944,017$3,208,018$7,364,661
75$8,482,604$4,102,857$3,281,069$8,026,396
76$9,312,328$4,268,396$3,355,484$8,753,070
77$10,225,566$4,440,927$3,431,273$9,551,234
78$11,230,800$4,620,759$3,508,447$10,428,105
79$12,337,379$4,808,213$3,587,017$11,391,633
80$13,555,601$5,003,625$3,666,992$12,450,577
81$14,896,815$5,207,347$3,748,379$13,614,588
82$16,373,528$5,419,744$3,831,188$14,894,296
83$17,999,519$5,641,202$3,915,423$16,301,417
84$19,789,971$5,872,123$4,001,091$17,848,857
85$21,761,616$6,112,925$4,088,196$19,550,836
86$23,932,891$6,364,047$4,176,740$21,423,021
87$26,324,110$6,625,951$4,266,725$23,482,676
88$28,957,661$6,899,114$4,358,152$25,748,822
89$31,858,212$7,184,040$4,451,020$28,242,416
90$35,052,945$7,481,253$4,545,324$30,986,553
91$38,571,815$7,791,304$4,641,062$34,006,678
92$42,447,828$8,114,766$4,738,226$37,330,826
93$46,717,359$8,452,242$4,836,809$40,989,893
94$51,420,486$8,804,359$4,936,799$45,017,920
95$56,601,379$9,171,775$5,038,184$49,452,416
96$62,308,706$9,555,179$5,140,950$54,334,714
97$68,596,101$9,955,290$5,245,079$59,710,358
98$75,522,666$10,372,862$5,350,552$65,629,535
99$83,153,528$10,808,682$5,457,346$72,147,545
100$91,560,456$11,263,575$5,565,435$79,325,325