Can I retire at age 62 with 2,460,000?

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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$203,145$201,335$199,570$197,846$196,164$194,115
2 years$100,567$98,694$96,878$95,118$93,411$91,348
3 years$66,378$64,497$62,687$60,943$59,264$57,251
4 years$49,288$47,412$45,620$43,906$42,268$40,319
5 years$39,036$37,172$35,403$33,724$32,131$30,254
6 years$32,204$30,354$28,611$26,970$25,424$23,620
7 years$27,325$25,491$23,776$22,173$20,677$18,946
8 years$23,668$21,850$20,164$18,600$17,153$15,497
9 years$20,825$19,025$17,367$15,843$14,446$12,862
10 years$18,552$16,769$15,141$13,657$12,308$10,797
11 years$16,694$14,929$13,330$11,886$10,586$9,145
12 years$15,146$13,399$11,830$10,426$9,173$7,802
13 years$13,838$12,109$10,569$9,204$7,999$6,696
14 years$12,717$11,007$9,496$8,170$7,012$5,775
15 years$11,747$10,055$8,574$7,287$6,174$5,001
16 years$10,899$9,225$7,774$6,524$5,457$4,346
17 years$10,151$8,496$7,074$5,862$4,838$3,788
18 years$9,487$7,851$6,457$5,283$4,302$3,309
19 years$8,894$7,276$5,911$4,774$3,834$2,898
20 years$8,361$6,761$5,425$4,323$3,425$2,542
21 years$7,879$6,298$4,990$3,924$3,065$2,234
22 years$7,441$5,879$4,599$3,568$2,747$1,965
23 years$7,043$5,498$4,247$3,249$2,466$1,731
24 years$6,678$5,152$3,927$2,963$2,217$1,527
25 years$6,342$4,834$3,637$2,706$1,995$1,348
26 years$6,033$4,544$3,374$2,474$1,797$1,191
27 years$5,748$4,276$3,133$2,265$1,620$1,053
28 years$5,483$4,029$2,912$2,075$1,462$931
29 years$5,237$3,801$2,710$1,903$1,320$824
30 years$5,007$3,590$2,524$1,746$1,193$730
31 years$4,793$3,394$2,353$1,604$1,078$647
32 years$4,593$3,211$2,196$1,474$975$573
33 years$4,405$3,041$2,050$1,356$883$508
34 years$4,229$2,882$1,916$1,247$799$451
35 years$4,063$2,734$1,791$1,148$724$400
36 years$3,907$2,595$1,675$1,057$656$355
37 years$3,760$2,464$1,568$974$594$315
38 years$3,620$2,342$1,468$898$539$279
39 years$3,488$2,227$1,376$828$489$248
40 years$3,363$2,119$1,290$764$443$220
41 years$3,245$2,017$1,209$705$402$196
42 years$3,132$1,921$1,134$650$365$174
43 years$3,025$1,830$1,064$600$331$154
44 years$2,923$1,744$999$554$301$137
45 years$2,826$1,664$938$512$273$122
46 years$2,733$1,587$881$473$248$108
47 years$2,645$1,514$828$437$225$96
48 years$2,560$1,446$778$404$204$85
49 years$2,479$1,381$731$373$186$76
50 years$2,402$1,319$687$345$169$67

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,460,000, adding $6,808 every year, while hoping to spend $44,047 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: 56/35/9 Blend
61$2,460,000$2,460,000$2,460,000$2,460,000
62$2,717,942$2,587,562$2,549,432$2,863,913
63$2,948,307$2,667,487$2,587,973$3,043,169
64$3,200,692$2,749,852$2,626,328$3,232,843
65$3,477,298$2,834,730$2,664,445$3,438,369
66$3,780,547$2,922,197$2,702,269$3,661,262
67$4,113,107$3,012,329$2,739,739$3,903,194
68$4,477,917$3,105,206$2,776,793$4,166,002
69$4,878,214$3,200,910$2,813,365$4,451,706
70$5,317,563$3,299,526$2,849,384$4,762,531
71$5,799,891$3,401,139$2,884,775$5,100,926
72$6,329,525$3,505,840$2,919,460$5,469,587
73$6,911,230$3,613,719$2,953,355$5,871,480
74$7,550,255$3,724,872$2,986,372$6,309,872
75$8,252,385$3,839,394$3,018,419$6,788,359
76$9,023,990$3,957,386$3,049,398$7,310,899
77$9,872,089$4,078,950$3,079,206$7,881,854
78$10,804,416$4,204,192$3,107,732$8,506,023
79$11,829,489$4,333,221$3,134,864$9,188,695
80$12,956,695$4,466,146$3,160,480$9,935,690
81$14,196,374$4,603,084$3,184,453$10,753,421
82$15,559,921$4,744,152$3,206,649$11,648,950
83$17,059,889$4,889,471$3,226,927$12,630,056
84$18,710,108$5,039,166$3,245,140$13,705,305
85$20,525,818$5,193,364$3,261,131$14,884,136
86$22,523,810$5,352,197$3,274,737$16,176,944
87$24,722,584$5,515,800$3,285,787$17,595,179
88$27,142,526$5,684,313$3,294,098$19,151,456
89$29,806,096$5,857,877$3,299,483$20,859,671
90$32,738,044$6,036,639$3,301,742$22,735,133
91$35,965,639$6,220,749$3,300,666$24,794,706
92$39,518,932$6,410,363$3,296,035$27,056,972
93$43,431,031$6,605,640$3,287,621$29,542,401
94$47,738,422$6,806,741$3,275,182$32,273,544
95$52,481,305$7,013,836$3,258,464$35,275,250
96$57,703,980$7,227,095$3,237,204$38,574,896
97$63,455,259$7,446,696$3,211,124$42,202,643
98$69,788,931$7,672,820$3,179,932$46,191,726
99$76,764,266$7,905,652$3,143,324$50,578,763
100$84,446,577$8,145,385$3,100,982$55,404,098