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%16.1%
1 years$200,667$198,880$197,136$195,434$193,772$188,934
2 years$99,340$97,490$95,697$93,958$92,272$87,429
3 years$65,569$63,711$61,922$60,200$58,541$53,844
4 years$48,687$46,834$45,064$43,371$41,752$37,237
5 years$38,560$36,719$34,971$33,313$31,739$27,418
6 years$31,811$29,983$28,262$26,641$25,114$20,992
7 years$26,992$25,180$23,486$21,903$20,425$16,502
8 years$23,380$21,584$19,918$18,374$16,944$13,219
9 years$20,571$18,793$17,155$15,650$14,269$10,739
10 years$18,326$16,565$14,956$13,491$12,158$8,818
11 years$16,490$14,747$13,167$11,741$10,457$7,302
12 years$14,962$13,236$11,686$10,298$9,061$6,086
13 years$13,669$11,961$10,440$9,092$7,902$5,101
14 years$12,562$10,873$9,381$8,071$6,927$4,294
15 years$11,604$9,932$8,469$7,198$6,099$3,627
16 years$10,766$9,113$7,679$6,445$5,390$3,073
17 years$10,027$8,392$6,987$5,791$4,779$2,611
18 years$9,372$7,755$6,379$5,218$4,249$2,222
19 years$8,786$7,187$5,839$4,715$3,788$1,895
20 years$8,259$6,679$5,359$4,271$3,383$1,618
21 years$7,783$6,221$4,929$3,876$3,028$1,383
22 years$7,351$5,807$4,543$3,524$2,714$1,184
23 years$6,957$5,431$4,195$3,209$2,436$1,014
24 years$6,596$5,089$3,879$2,927$2,190$870
25 years$6,265$4,775$3,593$2,673$1,970$746
26 years$5,960$4,488$3,332$2,444$1,775$641
27 years$5,677$4,224$3,094$2,237$1,600$550
28 years$5,416$3,980$2,877$2,050$1,444$473
29 years$5,173$3,755$2,677$1,880$1,304$406
30 years$4,946$3,546$2,494$1,725$1,178$349
31 years$4,735$3,352$2,325$1,584$1,065$300
32 years$4,537$3,172$2,169$1,456$963$258
33 years$4,352$3,004$2,025$1,339$872$222
34 years$4,178$2,847$1,892$1,232$789$191
35 years$4,014$2,700$1,769$1,134$715$165
36 years$3,859$2,563$1,655$1,045$648$142
37 years$3,714$2,434$1,549$962$587$122
38 years$3,576$2,313$1,451$887$532$105
39 years$3,446$2,200$1,359$818$483$90
40 years$3,322$2,093$1,274$754$438$78
41 years$3,205$1,992$1,194$696$397$67
42 years$3,094$1,897$1,120$642$360$58
43 years$2,988$1,808$1,051$593$327$50
44 years$2,887$1,723$987$548$297$43
45 years$2,791$1,643$927$506$270$37
46 years$2,700$1,568$870$467$245$32
47 years$2,612$1,496$818$432$222$27
48 years$2,529$1,428$768$399$202$24
49 years$2,449$1,364$722$369$183$20
50 years$2,373$1,303$679$341$166$17

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 $2,315 every year, while hoping to spend $43,401 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: 77/16/7 Blend
61$2,430,000$2,430,000$2,430,000$2,430,000
62$2,680,248$2,551,458$2,513,793$2,884,183
63$2,907,455$2,630,301$2,551,827$3,097,271
64$3,156,382$2,711,553$2,589,680$3,325,000
65$3,429,200$2,795,286$2,627,301$3,573,405
66$3,728,297$2,881,573$2,664,634$3,844,522
67$4,056,306$2,970,493$2,701,622$4,140,593
68$4,416,125$3,062,123$2,738,202$4,464,085
69$4,810,947$3,156,544$2,774,309$4,817,718
70$5,244,288$3,253,840$2,809,873$5,204,484
71$5,720,023$3,354,095$2,844,822$5,627,680
72$6,242,419$3,457,400$2,879,077$6,090,936
73$6,816,177$3,563,843$2,912,556$6,598,250
74$7,446,473$3,673,518$2,945,174$7,154,025
75$8,139,015$3,786,521$2,976,838$7,763,113
76$8,900,085$3,902,951$3,007,452$8,430,855
77$9,736,607$4,022,909$3,036,916$9,163,136
78$10,656,208$4,146,500$3,065,120$9,966,438
79$11,667,293$4,273,830$3,091,953$10,847,902
80$12,779,120$4,405,010$3,117,296$11,815,394
81$14,001,888$4,540,153$3,141,024$12,877,579
82$15,346,836$4,679,377$3,163,004$14,044,005
83$16,826,348$4,822,800$3,183,098$15,325,187
84$18,454,064$4,970,546$3,201,161$16,732,714
85$20,245,017$5,122,742$3,217,039$18,279,351
86$22,215,770$5,279,517$3,230,570$19,979,161
87$24,384,571$5,441,006$3,241,587$21,847,640
88$26,771,528$5,607,346$3,249,911$23,901,860
89$29,398,796$5,778,678$3,255,355$26,160,633
90$32,290,787$5,955,147$3,257,723$28,644,682
91$35,474,400$6,136,902$3,256,810$31,376,843
92$38,979,276$6,324,097$3,252,400$34,382,278
93$42,838,074$6,516,889$3,244,267$37,688,709
94$47,086,780$6,715,440$3,232,173$41,326,683
95$51,765,050$6,919,915$3,215,869$45,329,860
96$56,916,579$7,130,485$3,195,095$49,735,326
97$62,589,517$7,347,325$3,169,577$54,583,947
98$68,836,918$7,570,615$3,139,028$59,920,755
99$75,717,248$7,800,539$3,103,150$65,795,366
100$83,294,928$8,037,286$3,061,626$72,262,457