Can I retire at age 62 with 2,410,000?

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 $2,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$199,016$197,243$195,513$193,825$192,177$188,993
2 years$98,523$96,688$94,909$93,185$91,513$88,315
3 years$65,029$63,186$61,413$59,705$58,059$54,946
4 years$48,286$46,449$44,693$43,014$41,408$38,404
5 years$38,243$36,416$34,683$33,039$31,478$28,592
6 years$31,549$29,737$28,029$26,421$24,908$22,142
7 years$26,770$24,973$23,292$21,722$20,256$17,613
8 years$23,187$21,406$19,754$18,222$16,805$14,282
9 years$20,402$18,638$17,014$15,521$14,152$11,749
10 years$18,175$16,429$14,833$13,380$12,058$9,774
11 years$16,355$14,625$13,059$11,644$10,370$8,201
12 years$14,839$13,127$11,589$10,214$8,987$6,930
13 years$13,557$11,863$10,354$9,017$7,837$5,890
14 years$12,459$10,783$9,303$8,004$6,870$5,029
15 years$11,508$9,851$8,400$7,138$6,049$4,311
16 years$10,677$9,038$7,616$6,392$5,346$3,707
17 years$9,945$8,323$6,930$5,743$4,740$3,197
18 years$9,294$7,691$6,326$5,176$4,214$2,763
19 years$8,713$7,128$5,791$4,677$3,756$2,393
20 years$8,191$6,624$5,315$4,236$3,355$2,076
21 years$7,719$6,170$4,889$3,844$3,003$1,804
22 years$7,290$5,759$4,506$3,495$2,691$1,569
23 years$6,899$5,387$4,160$3,183$2,416$1,367
24 years$6,542$5,047$3,848$2,903$2,172$1,191
25 years$6,213$4,736$3,564$2,651$1,954$1,039
26 years$5,911$4,451$3,305$2,424$1,760$907
27 years$5,631$4,189$3,069$2,219$1,587$792
28 years$5,371$3,947$2,853$2,033$1,432$693
29 years$5,130$3,724$2,655$1,864$1,293$606
30 years$4,906$3,517$2,473$1,711$1,168$530
31 years$4,696$3,325$2,306$1,571$1,056$464
32 years$4,500$3,146$2,151$1,444$955$406
33 years$4,316$2,979$2,008$1,328$865$355
34 years$4,143$2,823$1,877$1,222$783$311
35 years$3,981$2,678$1,755$1,125$709$272
36 years$3,828$2,542$1,641$1,036$642$239
37 years$3,683$2,414$1,536$954$582$209
38 years$3,547$2,294$1,439$880$528$183
39 years$3,417$2,182$1,348$811$479$161
40 years$3,295$2,076$1,263$748$434$141
41 years$3,179$1,976$1,185$690$394$123
42 years$3,068$1,882$1,111$637$357$108
43 years$2,963$1,793$1,043$588$324$95
44 years$2,863$1,709$979$543$294$83
45 years$2,768$1,630$919$501$267$73
46 years$2,677$1,555$863$463$243$64
47 years$2,591$1,484$811$428$220$56
48 years$2,508$1,416$762$395$200$49
49 years$2,429$1,353$716$365$182$43
50 years$2,353$1,292$673$338$165$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,410,000, adding $3,078 every year, while hoping to spend $31,781 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: 33/49/18 Blend
61$2,410,000$2,410,000$2,410,000$2,410,000
62$2,658,995$2,531,265$2,493,910$2,731,805
63$2,896,398$2,621,482$2,543,641$2,876,120
64$3,156,950$2,715,055$2,593,973$3,028,401
65$3,442,981$2,812,114$2,644,893$3,191,850
66$3,757,053$2,912,796$2,696,385$3,367,468
67$4,101,991$3,017,242$2,748,433$3,556,352
68$4,480,907$3,125,600$2,801,018$3,759,705
69$4,897,229$3,238,023$2,854,122$3,978,850
70$5,354,733$3,354,673$2,907,721$4,215,237
71$5,857,579$3,475,715$2,961,793$4,470,462
72$6,410,350$3,601,323$3,016,311$4,746,275
73$7,018,095$3,731,677$3,071,247$5,044,601
74$7,686,378$3,866,966$3,126,571$5,367,553
75$8,421,327$4,007,387$3,182,250$5,717,456
76$9,229,696$4,153,142$3,238,249$6,096,863
77$10,118,925$4,304,446$3,294,529$6,508,583
78$11,097,210$4,461,518$3,351,051$6,955,702
79$12,173,584$4,624,592$3,407,770$7,441,618
80$13,357,999$4,793,906$3,464,640$7,970,062
81$14,661,420$4,969,713$3,521,610$8,545,144
82$16,095,928$5,152,272$3,578,628$9,171,380
83$17,674,836$5,341,856$3,635,635$9,853,741
84$19,412,812$5,538,750$3,692,571$10,597,696
85$21,326,018$5,743,248$3,749,372$11,409,264
86$23,432,264$5,955,659$3,805,968$12,295,066
87$25,751,174$6,176,305$3,862,286$13,262,390
88$28,304,370$6,405,520$3,918,249$14,319,258
89$31,115,679$6,643,654$3,973,774$15,474,498
90$34,211,356$6,891,071$4,028,773$16,737,830
91$37,620,331$7,148,150$4,083,153$18,119,952
92$41,374,483$7,415,288$4,136,818$19,632,644
93$45,508,940$7,692,897$4,189,661$21,288,872
94$50,062,412$7,981,408$4,241,574$23,102,914
95$55,077,551$8,281,271$4,292,440$25,090,492
96$60,601,361$8,592,953$4,342,137$27,268,916
97$66,685,635$8,916,943$4,390,534$29,657,250
98$73,387,448$9,253,751$4,437,495$32,276,485
99$80,769,692$9,603,909$4,482,875$35,149,740
100$88,901,672$9,967,972$4,526,522$38,302,474