Can I retire at age 62 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$194,887$193,151$191,457$189,804$188,190$181,440
2 years$96,479$94,682$92,940$91,252$89,614$82,887
3 years$63,680$61,876$60,139$58,466$56,855$50,362
4 years$47,284$45,485$43,765$42,121$40,549$34,340
5 years$37,449$35,661$33,964$32,353$30,825$24,915
6 years$30,895$29,120$27,448$25,873$24,391$18,785
7 years$26,215$24,455$22,809$21,272$19,836$14,534
8 years$22,706$20,962$19,344$17,844$16,456$11,452
9 years$19,979$18,251$16,661$15,199$13,858$9,146
10 years$17,798$16,088$14,525$13,102$11,808$7,379
11 years$16,015$14,322$12,788$11,403$10,155$6,001
12 years$14,531$12,855$11,349$10,002$8,800$4,911
13 years$13,275$11,617$10,140$8,830$7,674$4,038
14 years$12,200$10,559$9,110$7,838$6,727$3,334
15 years$11,269$9,646$8,226$6,990$5,923$2,761
16 years$10,456$8,850$7,458$6,259$5,235$2,293
17 years$9,738$8,151$6,786$5,624$4,642$1,908
18 years$9,102$7,532$6,195$5,068$4,127$1,591
19 years$8,532$6,980$5,671$4,580$3,679$1,328
20 years$8,021$6,486$5,205$4,148$3,286$1,110
21 years$7,559$6,042$4,787$3,764$2,940$929
22 years$7,139$5,640$4,412$3,423$2,636$778
23 years$6,756$5,275$4,074$3,117$2,366$652
24 years$6,406$4,942$3,768$2,843$2,127$547
25 years$6,084$4,638$3,490$2,596$1,914$459
26 years$5,788$4,359$3,236$2,374$1,724$385
27 years$5,514$4,102$3,005$2,173$1,554$323
28 years$5,260$3,866$2,794$1,991$1,402$271
29 years$5,024$3,647$2,600$1,826$1,266$228
30 years$4,804$3,444$2,422$1,675$1,144$191
31 years$4,599$3,256$2,258$1,539$1,034$161
32 years$4,407$3,080$2,106$1,414$936$135
33 years$4,226$2,917$1,967$1,300$847$114
34 years$4,057$2,765$1,838$1,197$767$96
35 years$3,898$2,622$1,718$1,101$694$80
36 years$3,748$2,489$1,607$1,014$629$68
37 years$3,607$2,364$1,504$935$570$57
38 years$3,473$2,247$1,409$862$517$48
39 years$3,346$2,136$1,320$794$469$40
40 years$3,226$2,033$1,237$733$425$34
41 years$3,113$1,935$1,160$676$386$28
42 years$3,005$1,843$1,088$624$350$24
43 years$2,902$1,756$1,021$576$318$20
44 years$2,804$1,674$958$532$288$17
45 years$2,711$1,596$900$491$262$14
46 years$2,622$1,522$845$454$238$12
47 years$2,537$1,453$794$419$216$10
48 years$2,456$1,387$746$387$196$8
49 years$2,378$1,324$701$358$178$7
50 years$2,304$1,265$659$331$162$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,360,000, adding $2,438 every year, while hoping to spend $35,697 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: 41/30/29 Blend
61$2,360,000$2,360,000$2,360,000$2,360,000
62$2,603,235$2,478,155$2,441,575$2,687,679
63$2,830,783$2,561,603$2,485,386$2,832,564
64$3,080,346$2,647,944$2,529,469$2,985,784
65$3,354,129$2,737,281$2,573,794$3,150,966
66$3,654,565$2,829,723$2,618,332$3,329,234
67$3,984,333$2,925,382$2,663,048$3,521,822
68$4,346,383$3,024,373$2,707,908$3,730,091
69$4,743,964$3,126,818$2,752,873$3,955,535
70$5,180,658$3,232,842$2,797,904$4,199,800
71$5,660,408$3,342,574$2,842,957$4,464,695
72$6,187,560$3,456,150$2,887,985$4,752,212
73$6,766,899$3,573,709$2,932,941$5,064,543
74$7,403,699$3,695,397$2,977,771$5,404,102
75$8,103,770$3,821,365$3,022,420$5,773,544
76$8,873,512$3,951,770$3,066,829$6,175,792
77$9,719,978$4,086,774$3,110,935$6,614,066
78$10,650,936$4,226,547$3,154,672$7,091,909
79$11,674,947$4,371,263$3,197,969$7,613,222
80$12,801,442$4,521,105$3,240,751$8,182,303
81$14,040,812$4,676,262$3,282,939$8,803,882
82$15,404,507$4,836,931$3,324,450$9,483,169
83$16,905,143$5,003,317$3,365,195$10,225,902
84$18,556,618$5,175,630$3,405,079$11,038,401
85$20,374,249$5,354,092$3,444,006$11,927,623
86$22,374,912$5,538,932$3,481,869$12,901,237
87$24,577,201$5,730,387$3,518,559$13,967,684
88$27,001,604$5,928,705$3,553,960$15,136,266
89$29,670,699$6,134,143$3,587,949$16,417,227
90$32,609,362$6,346,967$3,620,397$17,821,852
91$35,845,004$6,567,456$3,651,168$19,362,573
92$39,407,831$6,795,898$3,680,118$21,053,086
93$43,331,125$7,032,592$3,707,097$22,908,477
94$47,651,561$7,277,851$3,731,947$24,945,368
95$52,409,553$7,531,998$3,754,500$27,182,071
96$57,649,633$7,795,371$3,774,580$29,638,759
97$63,420,871$8,068,320$3,792,004$32,337,660
98$69,777,341$8,351,209$3,806,578$35,303,261
99$76,778,628$8,644,417$3,818,097$38,562,542
100$84,490,393$8,948,338$3,826,348$42,145,231