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%20%
1 years$194,887$193,151$191,457$189,804$188,190$180,652
2 years$96,479$94,682$92,940$91,252$89,614$82,114
3 years$63,680$61,876$60,139$58,466$56,855$49,630
4 years$47,284$45,485$43,765$42,121$40,549$33,653
5 years$37,449$35,661$33,964$32,353$30,825$24,276
6 years$30,895$29,120$27,448$25,873$24,391$18,193
7 years$26,215$24,455$22,809$21,272$19,836$13,987
8 years$22,706$20,962$19,344$17,844$16,456$10,949
9 years$19,979$18,251$16,661$15,199$13,858$8,686
10 years$17,798$16,088$14,525$13,102$11,808$6,959
11 years$16,015$14,322$12,788$11,403$10,155$5,619
12 years$14,531$12,855$11,349$10,002$8,800$4,564
13 years$13,275$11,617$10,140$8,830$7,674$3,725
14 years$12,200$10,559$9,110$7,838$6,727$3,052
15 years$11,269$9,646$8,226$6,990$5,923$2,508
16 years$10,456$8,850$7,458$6,259$5,235$2,066
17 years$9,738$8,151$6,786$5,624$4,642$1,705
18 years$9,102$7,532$6,195$5,068$4,127$1,410
19 years$8,532$6,980$5,671$4,580$3,679$1,167
20 years$8,021$6,486$5,205$4,148$3,286$968
21 years$7,559$6,042$4,787$3,764$2,940$803
22 years$7,139$5,640$4,412$3,423$2,636$667
23 years$6,756$5,275$4,074$3,117$2,366$554
24 years$6,406$4,942$3,768$2,843$2,127$460
25 years$6,084$4,638$3,490$2,596$1,914$383
26 years$5,788$4,359$3,236$2,374$1,724$318
27 years$5,514$4,102$3,005$2,173$1,554$265
28 years$5,260$3,866$2,794$1,991$1,402$221
29 years$5,024$3,647$2,600$1,826$1,266$184
30 years$4,804$3,444$2,422$1,675$1,144$153
31 years$4,599$3,256$2,258$1,539$1,034$127
32 years$4,407$3,080$2,106$1,414$936$106
33 years$4,226$2,917$1,967$1,300$847$88
34 years$4,057$2,765$1,838$1,197$767$74
35 years$3,898$2,622$1,718$1,101$694$61
36 years$3,748$2,489$1,607$1,014$629$51
37 years$3,607$2,364$1,504$935$570$43
38 years$3,473$2,247$1,409$862$517$35
39 years$3,346$2,136$1,320$794$469$30
40 years$3,226$2,033$1,237$733$425$25
41 years$3,113$1,935$1,160$676$386$20
42 years$3,005$1,843$1,088$624$350$17
43 years$2,902$1,756$1,021$576$318$14
44 years$2,804$1,674$958$532$288$12
45 years$2,711$1,596$900$491$262$10
46 years$2,622$1,522$845$454$238$8
47 years$2,537$1,453$794$419$216$7
48 years$2,456$1,387$746$387$196$6
49 years$2,378$1,324$701$358$178$5
50 years$2,304$1,265$659$331$162$4

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 $4,762 every year, while hoping to spend $21,889 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: 65/9/26 Blend
61$2,360,000$2,360,000$2,360,000$2,360,000
62$2,605,632$2,480,552$2,443,972$2,756,933
63$2,848,117$2,578,809$2,502,555$2,957,883
64$3,114,601$2,681,148$2,562,368$3,174,558
65$3,407,511$2,787,744$2,623,427$3,410,900
66$3,729,516$2,898,783$2,685,751$3,668,845
67$4,083,561$3,014,457$2,749,358$3,950,523
68$4,472,888$3,134,969$2,814,265$4,258,283
69$4,901,069$3,260,530$2,880,490$4,594,707
70$5,372,041$3,391,359$2,948,049$4,962,640
71$5,890,141$3,527,687$3,016,961$5,365,215
72$6,460,147$3,669,755$3,087,241$5,805,883
73$7,087,324$3,817,815$3,158,905$6,288,442
74$7,777,473$3,972,130$3,231,970$6,817,077
75$8,536,984$4,132,973$3,306,450$7,396,396
76$9,372,902$4,300,634$3,382,361$8,031,475
77$10,292,985$4,475,412$3,459,717$8,727,905
78$11,305,784$4,657,622$3,538,533$9,491,844
79$12,420,720$4,847,592$3,618,820$10,330,074
80$13,648,175$5,045,665$3,700,592$11,250,069
81$14,999,588$5,252,202$3,783,860$12,260,059
82$16,487,562$5,467,576$3,868,636$13,369,110
83$18,125,987$5,692,181$3,954,929$14,587,212
84$19,930,168$5,926,428$4,042,749$15,925,368
85$21,916,967$6,170,745$4,132,104$17,395,701
86$24,104,969$6,425,583$4,223,000$19,011,566
87$26,514,650$6,691,410$4,315,445$20,787,677
88$29,168,574$6,968,719$4,409,442$22,740,244
89$32,091,606$7,258,023$4,504,995$24,887,127
90$35,311,143$7,559,860$4,602,106$27,248,003
91$38,857,379$7,874,792$4,700,775$29,844,553
92$42,763,582$8,203,407$4,801,002$32,700,661
93$47,066,414$8,546,321$4,902,782$35,842,647
94$51,806,275$8,904,178$5,006,113$39,299,509
95$57,027,683$9,277,651$5,110,985$43,103,196
96$62,779,696$9,667,445$5,217,392$47,288,912
97$69,116,372$10,074,297$5,325,322$51,895,449
98$76,097,284$10,498,979$5,434,762$56,965,545
99$83,788,076$10,942,298$5,545,696$62,546,295
100$92,261,089$11,405,100$5,658,106$68,689,590