Can I retire at age 62 with 2,450,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,450,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$202,319$200,517$198,758$197,042$195,366$190,335
2 years$100,158$98,292$96,485$94,732$93,032$87,996
3 years$66,109$64,235$62,432$60,696$59,023$54,140
4 years$49,087$47,220$45,434$43,728$42,096$37,404
5 years$38,877$37,021$35,259$33,587$32,001$27,513
6 years$32,073$30,230$28,495$26,860$25,321$21,041
7 years$27,214$25,387$23,679$22,083$20,593$16,522
8 years$23,572$21,762$20,082$18,525$17,084$13,220
9 years$20,741$18,947$17,296$15,779$14,387$10,726
10 years$18,477$16,701$15,079$13,602$12,258$8,797
11 years$16,626$14,868$13,276$11,838$10,543$7,275
12 years$15,085$13,345$11,782$10,383$9,136$6,056
13 years$13,782$12,060$10,526$9,167$7,967$5,069
14 years$12,666$10,962$9,458$8,137$6,984$4,261
15 years$11,699$10,014$8,539$7,257$6,149$3,594
16 years$10,854$9,188$7,742$6,498$5,434$3,041
17 years$10,110$8,462$7,045$5,838$4,819$2,580
18 years$9,449$7,819$6,431$5,261$4,284$2,192
19 years$8,858$7,246$5,887$4,754$3,819$1,867
20 years$8,327$6,734$5,403$4,306$3,411$1,592
21 years$7,847$6,272$4,970$3,908$3,052$1,359
22 years$7,411$5,855$4,580$3,553$2,736$1,161
23 years$7,014$5,476$4,229$3,236$2,456$993
24 years$6,650$5,131$3,911$2,951$2,208$850
25 years$6,316$4,815$3,623$2,695$1,987$728
26 years$6,009$4,525$3,360$2,464$1,789$624
27 years$5,724$4,259$3,120$2,256$1,613$535
28 years$5,461$4,013$2,900$2,067$1,456$459
29 years$5,215$3,786$2,699$1,895$1,314$394
30 years$4,987$3,575$2,514$1,739$1,188$338
31 years$4,774$3,380$2,344$1,597$1,074$290
32 years$4,575$3,198$2,187$1,468$971$249
33 years$4,388$3,029$2,042$1,350$879$214
34 years$4,212$2,870$1,908$1,242$796$184
35 years$4,047$2,722$1,784$1,143$721$158
36 years$3,891$2,584$1,669$1,053$653$136
37 years$3,744$2,454$1,562$970$592$117
38 years$3,605$2,332$1,462$894$537$100
39 years$3,474$2,218$1,370$825$487$86
40 years$3,350$2,110$1,284$761$441$74
41 years$3,231$2,009$1,204$702$400$64
42 years$3,119$1,913$1,130$648$363$55
43 years$3,013$1,823$1,060$598$330$47
44 years$2,911$1,737$995$552$299$40
45 years$2,814$1,657$934$510$272$35
46 years$2,722$1,580$877$471$247$30
47 years$2,634$1,508$824$435$224$26
48 years$2,550$1,440$775$402$203$22
49 years$2,469$1,375$728$372$185$19
50 years$2,392$1,313$685$343$168$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,450,000, adding $6,312 every year, while hoping to spend $54,439 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: 47/44/9 Blend
61$2,450,000$2,450,000$2,450,000$2,450,000
62$2,706,411$2,576,561$2,538,586$2,826,650
63$2,924,542$2,644,890$2,565,706$2,978,362
64$3,163,098$2,714,742$2,591,910$3,136,730
65$3,424,105$2,786,135$2,617,109$3,307,349
66$3,709,793$2,859,085$2,641,212$3,491,372
67$4,022,619$2,933,607$2,664,119$3,690,069
68$4,365,287$3,009,715$2,685,729$3,904,839
69$4,740,777$3,087,422$2,705,932$4,137,220
70$5,152,370$3,166,739$2,724,613$4,388,907
71$5,603,677$3,247,675$2,741,654$4,661,764
72$6,098,680$3,330,239$2,756,927$4,957,844
73$6,641,761$3,414,436$2,770,300$5,279,408
74$7,237,749$3,500,271$2,781,632$5,628,946
75$7,891,960$3,587,746$2,790,778$6,009,200
76$8,610,254$3,676,860$2,797,584$6,423,190
77$9,399,084$3,767,609$2,801,886$6,874,240
78$10,265,557$3,859,989$2,803,516$7,366,016
79$11,217,505$3,953,990$2,802,295$7,902,553
80$12,263,555$4,049,600$2,798,037$8,488,295
81$13,413,211$4,146,804$2,790,544$9,128,140
82$14,676,944$4,245,582$2,779,612$9,827,484
83$16,066,288$4,345,911$2,765,025$10,592,271
84$17,593,952$4,447,763$2,746,556$11,429,048
85$19,273,938$4,551,107$2,723,969$12,345,033
86$21,121,674$4,655,905$2,697,016$13,348,174
87$23,154,155$4,762,115$2,665,436$14,447,232
88$25,390,108$4,869,688$2,628,958$15,651,858
89$27,850,166$4,978,570$2,587,295$16,972,689
90$30,557,064$5,088,701$2,540,151$18,421,442
91$33,535,850$5,200,013$2,487,211$20,011,034
92$36,814,125$5,312,431$2,428,150$21,755,693
93$40,422,298$5,425,873$2,362,626$23,671,100
94$44,393,878$5,540,246$2,290,280$25,774,538
95$48,765,788$5,655,453$2,210,739$28,085,047
96$53,578,710$5,771,382$2,123,610$30,623,612
97$58,877,473$5,887,914$2,028,486$33,413,360
98$64,711,472$6,004,919$1,924,937$36,479,775
99$71,135,137$6,122,254$1,812,517$39,850,940
100$78,208,443$6,239,767$1,690,758$43,557,806