Can I retire at age 62 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$197,364$195,606$193,891$192,217$190,582$189,222
2 years$97,705$95,885$94,122$92,412$90,753$89,382
3 years$64,490$62,662$60,903$59,209$57,578$56,238
4 years$47,885$46,063$44,322$42,657$41,065$39,766
5 years$37,925$36,114$34,396$32,765$31,217$29,964
6 years$31,287$29,490$27,797$26,202$24,701$23,494
7 years$26,548$24,766$23,099$21,542$20,088$18,929
8 years$22,995$21,229$19,590$18,071$16,665$15,554
9 years$20,233$18,483$16,873$15,393$14,035$12,970
10 years$18,025$16,292$14,710$13,269$11,958$10,940
11 years$16,219$14,504$12,951$11,548$10,284$9,312
12 years$14,715$13,018$11,493$10,129$8,912$7,985
13 years$13,444$11,764$10,268$8,942$7,772$6,888
14 years$12,355$10,694$9,226$7,938$6,813$5,972
15 years$11,413$9,769$8,330$7,079$5,998$5,200
16 years$10,589$8,963$7,552$6,339$5,301$4,543
17 years$9,862$8,254$6,872$5,695$4,701$3,982
18 years$9,217$7,627$6,274$5,133$4,180$3,499
19 years$8,641$7,069$5,743$4,638$3,725$3,081
20 years$8,123$6,569$5,271$4,200$3,327$2,719
21 years$7,655$6,119$4,848$3,812$2,978$2,403
22 years$7,230$5,711$4,468$3,466$2,669$2,127
23 years$6,842$5,342$4,126$3,157$2,396$1,886
24 years$6,488$5,005$3,816$2,879$2,154$1,673
25 years$6,162$4,697$3,534$2,629$1,938$1,486
26 years$5,862$4,414$3,278$2,404$1,746$1,321
27 years$5,584$4,154$3,044$2,201$1,574$1,175
28 years$5,327$3,915$2,829$2,016$1,420$1,046
29 years$5,088$3,693$2,633$1,849$1,282$932
30 years$4,865$3,488$2,453$1,697$1,159$831
31 years$4,657$3,297$2,286$1,558$1,047$741
32 years$4,463$3,120$2,133$1,432$948$661
33 years$4,280$2,954$1,992$1,317$858$590
34 years$4,109$2,800$1,861$1,212$776$527
35 years$3,948$2,656$1,740$1,115$703$470
36 years$3,796$2,521$1,628$1,027$637$420
37 years$3,653$2,394$1,523$947$577$375
38 years$3,517$2,275$1,427$872$524$335
39 years$3,389$2,164$1,337$804$475$300
40 years$3,268$2,058$1,253$742$431$268
41 years$3,152$1,959$1,175$685$391$240
42 years$3,043$1,866$1,102$632$354$214
43 years$2,939$1,778$1,034$583$322$192
44 years$2,840$1,695$971$538$292$171
45 years$2,745$1,616$911$497$265$153
46 years$2,655$1,542$856$459$241$137
47 years$2,569$1,471$804$424$219$123
48 years$2,487$1,405$756$392$198$110
49 years$2,409$1,341$710$362$180$98
50 years$2,333$1,281$668$335$164$88

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,390,000, adding $2,742 every year, while hoping to spend $50,276 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: 78/8/14 Blend
61$2,390,000$2,390,000$2,390,000$2,390,000
62$2,636,608$2,509,938$2,472,893$2,834,511
63$2,852,049$2,579,432$2,502,242$3,034,739
64$3,087,780$2,650,646$2,530,889$3,247,634
65$3,345,817$2,723,611$2,558,757$3,479,741
66$3,628,381$2,798,359$2,585,766$3,732,960
67$3,937,917$2,874,920$2,611,831$4,009,385
68$4,277,119$2,953,325$2,636,861$4,311,318
69$4,648,951$3,033,604$2,660,762$4,641,299
70$5,056,680$3,115,787$2,683,434$5,002,123
71$5,503,904$3,199,903$2,704,772$5,396,870
72$5,994,586$3,285,981$2,724,665$5,828,933
73$6,533,089$3,374,050$2,742,997$6,302,048
74$7,124,222$3,464,137$2,759,645$6,820,334
75$7,773,281$3,556,267$2,774,481$7,388,326
76$8,486,098$3,650,467$2,787,369$8,011,021
77$9,269,102$3,746,761$2,798,167$8,693,925
78$10,129,370$3,845,173$2,806,726$9,443,104
79$11,074,702$3,945,723$2,812,888$10,265,240
80$12,113,691$4,048,432$2,816,489$11,167,698
81$13,255,802$4,153,320$2,817,355$12,158,590
82$14,511,463$4,260,402$2,815,306$13,246,855
83$15,892,164$4,369,694$2,810,151$14,442,344
84$17,410,564$4,481,207$2,801,689$15,755,910
85$19,080,608$4,594,953$2,789,713$17,199,511
86$20,917,663$4,710,939$2,774,001$18,786,324
87$22,938,659$4,829,169$2,754,324$20,530,869
88$25,162,249$4,949,645$2,730,441$22,449,146
89$27,608,987$5,072,366$2,702,099$24,558,784
90$30,301,518$5,197,326$2,669,034$26,879,211
91$33,264,794$5,324,517$2,630,968$29,431,834
92$36,526,309$5,453,924$2,587,611$32,240,243
93$40,116,356$5,585,530$2,538,660$35,330,430
94$44,068,315$5,719,312$2,483,796$38,731,042
95$48,418,967$5,855,242$2,422,687$42,473,642
96$53,208,840$5,993,287$2,354,985$46,593,015
97$58,482,591$6,133,407$2,280,326$51,127,490
98$64,289,427$6,275,556$2,198,329$56,119,306
99$70,683,571$6,419,681$2,108,595$61,615,008
100$77,724,772$6,565,721$2,010,710$67,665,888