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%15.2%
1 years$199,016$197,243$195,513$193,825$192,177$188,066
2 years$98,523$96,688$94,909$93,185$91,513$87,391
3 years$65,029$63,186$61,413$59,705$58,059$54,056
4 years$48,286$46,449$44,693$43,014$41,408$37,554
5 years$38,243$36,416$34,683$33,039$31,478$27,783
6 years$31,549$29,737$28,029$26,421$24,908$21,376
7 years$26,770$24,973$23,292$21,722$20,256$16,889
8 years$23,187$21,406$19,754$18,222$16,805$13,600
9 years$20,402$18,638$17,014$15,521$14,152$11,109
10 years$18,175$16,429$14,833$13,380$12,058$9,173
11 years$16,355$14,625$13,059$11,644$10,370$7,639
12 years$14,839$13,127$11,589$10,214$8,987$6,405
13 years$13,557$11,863$10,354$9,017$7,837$5,400
14 years$12,459$10,783$9,303$8,004$6,870$4,574
15 years$11,508$9,851$8,400$7,138$6,049$3,888
16 years$10,677$9,038$7,616$6,392$5,346$3,316
17 years$9,945$8,323$6,930$5,743$4,740$2,835
18 years$9,294$7,691$6,326$5,176$4,214$2,429
19 years$8,713$7,128$5,791$4,677$3,756$2,085
20 years$8,191$6,624$5,315$4,236$3,355$1,793
21 years$7,719$6,170$4,889$3,844$3,003$1,543
22 years$7,290$5,759$4,506$3,495$2,691$1,330
23 years$6,899$5,387$4,160$3,183$2,416$1,148
24 years$6,542$5,047$3,848$2,903$2,172$991
25 years$6,213$4,736$3,564$2,651$1,954$856
26 years$5,911$4,451$3,305$2,424$1,760$740
27 years$5,631$4,189$3,069$2,219$1,587$641
28 years$5,371$3,947$2,853$2,033$1,432$554
29 years$5,130$3,724$2,655$1,864$1,293$480
30 years$4,906$3,517$2,473$1,711$1,168$416
31 years$4,696$3,325$2,306$1,571$1,056$360
32 years$4,500$3,146$2,151$1,444$955$312
33 years$4,316$2,979$2,008$1,328$865$271
34 years$4,143$2,823$1,877$1,222$783$235
35 years$3,981$2,678$1,755$1,125$709$203
36 years$3,828$2,542$1,641$1,036$642$176
37 years$3,683$2,414$1,536$954$582$153
38 years$3,547$2,294$1,439$880$528$133
39 years$3,417$2,182$1,348$811$479$115
40 years$3,295$2,076$1,263$748$434$100
41 years$3,179$1,976$1,185$690$394$87
42 years$3,068$1,882$1,111$637$357$75
43 years$2,963$1,793$1,043$588$324$65
44 years$2,863$1,709$979$543$294$57
45 years$2,768$1,630$919$501$267$49
46 years$2,677$1,555$863$463$243$43
47 years$2,591$1,484$811$428$220$37
48 years$2,508$1,416$762$395$200$32
49 years$2,429$1,353$716$365$182$28
50 years$2,353$1,292$673$338$165$24

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 $4,167 every year, while hoping to spend $29,449 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: 59/14/27 Blend
61$2,410,000$2,410,000$2,410,000$2,410,000
62$2,660,118$2,532,388$2,495,033$2,797,362
63$2,900,117$2,625,142$2,547,283$2,984,317
64$3,163,608$2,721,453$2,600,297$3,184,646
65$3,452,958$2,821,466$2,654,068$3,402,545
66$3,770,771$2,925,329$2,708,591$3,639,729
67$4,119,917$3,033,198$2,763,856$3,898,082
68$4,503,559$3,145,235$2,819,856$4,179,684
69$4,925,180$3,261,610$2,876,579$4,486,821
70$5,388,618$3,382,498$2,934,014$4,822,009
71$5,898,100$3,508,083$2,992,146$5,188,022
72$6,458,284$3,638,557$3,050,961$5,587,913
73$7,074,302$3,774,120$3,110,442$6,025,041
74$7,751,808$3,914,979$3,170,568$6,503,109
75$8,497,031$4,061,351$3,231,321$7,026,193
76$9,316,835$4,213,465$3,292,678$7,598,783
77$10,218,782$4,371,554$3,354,612$8,225,822
78$11,211,204$4,535,866$3,417,098$8,912,758
79$12,303,282$4,706,658$3,480,105$9,665,589
80$13,505,129$4,884,198$3,543,602$10,490,922
81$14,827,894$5,068,764$3,607,553$11,396,035
82$16,283,855$5,260,650$3,671,923$12,388,945
83$17,886,545$5,460,159$3,736,669$13,478,485
84$19,650,874$5,667,608$3,801,749$14,674,382
85$21,593,272$5,883,329$3,867,116$15,987,355
86$23,731,842$6,107,668$3,932,720$17,429,212
87$26,086,531$6,340,986$3,998,508$19,012,960
88$28,679,321$6,583,658$4,064,422$20,752,930
89$31,534,432$6,836,078$4,130,400$22,664,911
90$34,678,554$7,098,656$4,196,379$24,766,297
91$38,141,097$7,371,819$4,262,287$27,076,255
92$41,954,466$7,656,016$4,328,052$29,615,899
93$46,154,373$7,951,713$4,393,593$32,408,494
94$50,780,168$8,259,395$4,458,827$35,479,673
95$55,875,213$8,579,573$4,523,665$38,857,680
96$61,487,289$8,912,777$4,588,012$42,573,632
97$67,669,050$9,259,561$4,651,769$46,661,818
98$74,478,518$9,620,504$4,714,828$51,160,018
99$81,979,630$9,996,211$4,777,077$56,109,860
100$90,242,840$10,387,313$4,838,397$61,557,211