Can I retire at age 62 with 2,430,000?

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 $2,430,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$200,667$198,880$197,136$195,434$193,772$190,327
2 years$99,340$97,490$95,697$93,958$92,272$88,813
3 years$65,569$63,711$61,922$60,200$58,541$55,176
4 years$48,687$46,834$45,064$43,371$41,752$38,506
5 years$38,560$36,719$34,971$33,313$31,739$28,623
6 years$31,811$29,983$28,262$26,641$25,114$22,130
7 years$26,992$25,180$23,486$21,903$20,425$17,574
8 years$23,380$21,584$19,918$18,374$16,944$14,226
9 years$20,571$18,793$17,155$15,650$14,269$11,682
10 years$18,326$16,565$14,956$13,491$12,158$9,700
11 years$16,490$14,747$13,167$11,741$10,457$8,124
12 years$14,962$13,236$11,686$10,298$9,061$6,852
13 years$13,669$11,961$10,440$9,092$7,902$5,811
14 years$12,562$10,873$9,381$8,071$6,927$4,952
15 years$11,604$9,932$8,469$7,198$6,099$4,236
16 years$10,766$9,113$7,679$6,445$5,390$3,635
17 years$10,027$8,392$6,987$5,791$4,779$3,128
18 years$9,372$7,755$6,379$5,218$4,249$2,698
19 years$8,786$7,187$5,839$4,715$3,788$2,332
20 years$8,259$6,679$5,359$4,271$3,383$2,018
21 years$7,783$6,221$4,929$3,876$3,028$1,750
22 years$7,351$5,807$4,543$3,524$2,714$1,518
23 years$6,957$5,431$4,195$3,209$2,436$1,319
24 years$6,596$5,089$3,879$2,927$2,190$1,147
25 years$6,265$4,775$3,593$2,673$1,970$998
26 years$5,960$4,488$3,332$2,444$1,775$870
27 years$5,677$4,224$3,094$2,237$1,600$758
28 years$5,416$3,980$2,877$2,050$1,444$661
29 years$5,173$3,755$2,677$1,880$1,304$576
30 years$4,946$3,546$2,494$1,725$1,178$503
31 years$4,735$3,352$2,325$1,584$1,065$439
32 years$4,537$3,172$2,169$1,456$963$383
33 years$4,352$3,004$2,025$1,339$872$335
34 years$4,178$2,847$1,892$1,232$789$292
35 years$4,014$2,700$1,769$1,134$715$255
36 years$3,859$2,563$1,655$1,045$648$223
37 years$3,714$2,434$1,549$962$587$195
38 years$3,576$2,313$1,451$887$532$171
39 years$3,446$2,200$1,359$818$483$149
40 years$3,322$2,093$1,274$754$438$130
41 years$3,205$1,992$1,194$696$397$114
42 years$3,094$1,897$1,120$642$360$100
43 years$2,988$1,808$1,051$593$327$87
44 years$2,887$1,723$987$548$297$76
45 years$2,791$1,643$927$506$270$67
46 years$2,700$1,568$870$467$245$58
47 years$2,612$1,496$818$432$222$51
48 years$2,529$1,428$768$399$202$45
49 years$2,449$1,364$722$369$183$39
50 years$2,373$1,303$679$341$166$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,430,000, adding $6,976 every year, while hoping to spend $44,286 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: 44/28/28 Blend
61$2,430,000$2,430,000$2,430,000$2,430,000
62$2,685,056$2,556,266$2,518,601$2,781,100
63$2,911,811$2,634,403$2,555,854$2,928,472
64$3,160,212$2,714,884$2,592,871$3,083,368
65$3,432,418$2,797,778$2,629,597$3,250,435
66$3,730,810$2,883,155$2,665,974$3,430,831
67$4,058,010$2,971,086$2,701,940$3,625,829
68$4,416,903$3,061,645$2,737,431$3,836,833
69$4,810,670$3,154,909$2,772,378$4,065,387
70$5,242,813$3,250,954$2,806,708$4,313,191
71$5,717,191$3,349,862$2,840,343$4,582,117
72$6,238,053$3,451,714$2,873,204$4,874,227
73$6,810,081$3,556,594$2,905,202$5,191,790
74$7,438,431$3,664,590$2,936,249$5,537,307
75$8,128,786$3,775,790$2,966,248$5,913,531
76$8,887,404$3,890,284$2,995,099$6,323,494
77$9,721,179$4,008,168$3,022,694$6,770,536
78$10,637,707$4,129,537$3,048,923$7,258,337
79$11,645,358$4,254,489$3,073,667$7,790,949
80$12,753,352$4,383,126$3,096,802$8,372,837
81$13,971,846$4,515,552$3,118,197$9,008,919
82$15,312,033$4,651,872$3,137,715$9,704,613
83$16,786,243$4,792,197$3,155,211$10,465,889
84$18,408,063$4,936,637$3,170,534$11,299,324
85$20,192,461$5,085,309$3,183,523$12,212,163
86$22,155,932$5,238,328$3,194,010$13,212,390
87$24,316,647$5,395,817$3,201,820$14,308,801
88$26,694,631$5,557,897$3,206,767$15,511,088
89$29,311,946$5,724,697$3,208,656$16,829,930
90$32,192,903$5,896,346$3,207,285$18,277,094
91$35,364,289$6,072,976$3,202,438$19,865,546
92$38,855,619$6,254,724$3,193,892$21,609,572
93$42,699,415$6,441,730$3,181,411$23,524,916
94$46,931,516$6,634,134$3,164,748$25,628,924
95$51,591,409$6,832,085$3,143,646$27,940,712
96$56,722,606$7,035,731$3,117,832$30,481,344
97$62,373,055$7,245,225$3,087,022$33,274,032
98$68,595,589$7,460,724$3,050,920$36,344,353
99$75,448,427$7,682,387$3,009,214$39,720,494
100$82,995,722$7,910,379$2,961,577$43,433,515