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%13.2%
1 years$203,145$201,335$199,570$197,846$196,164$193,552
2 years$100,567$98,694$96,878$95,118$93,411$90,784
3 years$66,378$64,497$62,687$60,943$59,264$56,703
4 years$49,288$47,412$45,620$43,906$42,268$39,793
5 years$39,036$37,172$35,403$33,724$32,131$29,750
6 years$32,204$30,354$28,611$26,970$25,424$23,139
7 years$27,325$25,491$23,776$22,173$20,677$18,488
8 years$23,668$21,850$20,164$18,600$17,153$15,061
9 years$20,825$19,025$17,367$15,843$14,446$12,449
10 years$18,552$16,769$15,141$13,657$12,308$10,406
11 years$16,694$14,929$13,330$11,886$10,586$8,776
12 years$15,146$13,399$11,830$10,426$9,173$7,454
13 years$13,838$12,109$10,569$9,204$7,999$6,368
14 years$12,717$11,007$9,496$8,170$7,012$5,467
15 years$11,747$10,055$8,574$7,287$6,174$4,712
16 years$10,899$9,225$7,774$6,524$5,457$4,075
17 years$10,151$8,496$7,074$5,862$4,838$3,534
18 years$9,487$7,851$6,457$5,283$4,302$3,072
19 years$8,894$7,276$5,911$4,774$3,834$2,676
20 years$8,361$6,761$5,425$4,323$3,425$2,336
21 years$7,879$6,298$4,990$3,924$3,065$2,042
22 years$7,441$5,879$4,599$3,568$2,747$1,787
23 years$7,043$5,498$4,247$3,249$2,466$1,566
24 years$6,678$5,152$3,927$2,963$2,217$1,373
25 years$6,342$4,834$3,637$2,706$1,995$1,206
26 years$6,033$4,544$3,374$2,474$1,797$1,059
27 years$5,748$4,276$3,133$2,265$1,620$931
28 years$5,483$4,029$2,912$2,075$1,462$819
29 years$5,237$3,801$2,710$1,903$1,320$721
30 years$5,007$3,590$2,524$1,746$1,193$635
31 years$4,793$3,394$2,353$1,604$1,078$559
32 years$4,593$3,211$2,196$1,474$975$493
33 years$4,405$3,041$2,050$1,356$883$434
34 years$4,229$2,882$1,916$1,247$799$383
35 years$4,063$2,734$1,791$1,148$724$338
36 years$3,907$2,595$1,675$1,057$656$298
37 years$3,760$2,464$1,568$974$594$263
38 years$3,620$2,342$1,468$898$539$232
39 years$3,488$2,227$1,376$828$489$205
40 years$3,363$2,119$1,290$764$443$181
41 years$3,245$2,017$1,209$705$402$159
42 years$3,132$1,921$1,134$650$365$141
43 years$3,025$1,830$1,064$600$331$124
44 years$2,923$1,744$999$554$301$110
45 years$2,826$1,664$938$512$273$97
46 years$2,733$1,587$881$473$248$85
47 years$2,645$1,514$828$437$225$75
48 years$2,560$1,446$778$404$204$67
49 years$2,479$1,381$731$373$186$59
50 years$2,402$1,319$687$345$169$52

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 $3,496 every year, while hoping to spend $32,570 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: 57/13/30 Blend
61$2,460,000$2,460,000$2,460,000$2,460,000
62$2,714,526$2,584,146$2,546,016$2,846,626
63$2,956,754$2,676,115$2,596,653$3,029,873
64$3,222,597$2,771,499$2,647,895$3,225,836
65$3,514,430$2,870,430$2,699,728$3,438,794
66$3,834,868$2,973,048$2,752,136$3,670,404
67$4,186,793$3,079,496$2,805,101$3,922,490
68$4,573,379$3,189,924$2,858,605$4,197,060
69$4,998,122$3,304,489$2,912,626$4,496,325
70$5,464,874$3,423,352$2,967,142$4,822,721
71$5,977,878$3,546,683$3,022,129$5,178,928
72$6,541,809$3,674,659$3,077,558$5,567,898
73$7,161,819$3,807,462$3,133,401$5,992,883
74$7,843,581$3,945,284$3,189,626$6,457,463
75$8,593,347$4,088,324$3,246,200$6,965,583
76$9,418,005$4,236,789$3,303,085$7,521,585
77$10,325,146$4,390,895$3,360,242$8,130,255
78$11,323,129$4,550,867$3,417,628$8,796,862
79$12,421,168$4,716,940$3,475,199$9,527,211
80$13,629,414$4,889,357$3,532,905$10,327,697
81$14,959,052$5,068,373$3,590,695$11,205,364
82$16,422,405$5,254,254$3,648,513$12,167,972
83$18,033,053$5,447,274$3,706,301$13,224,070
84$19,805,957$5,647,723$3,763,994$14,383,076
85$21,757,603$5,855,900$3,821,526$15,655,366
86$23,906,158$6,072,118$3,878,827$17,052,372
87$26,271,637$6,296,703$3,935,819$18,586,687
88$28,876,097$6,529,995$3,992,422$20,272,188
89$31,743,842$6,772,348$4,048,551$22,124,163
90$34,901,652$7,024,131$4,104,116$24,159,455
91$38,379,037$7,285,730$4,159,020$26,396,625
92$42,208,514$7,557,546$4,213,162$28,856,121
93$46,425,914$7,839,997$4,266,434$31,560,473
94$51,070,720$8,133,520$4,318,723$34,534,509
95$56,186,442$8,438,572$4,369,909$37,805,581
96$61,821,023$8,755,625$4,419,865$41,403,832
97$68,027,293$9,085,177$4,468,456$45,362,471
98$74,863,470$9,427,743$4,515,542$49,718,095
99$82,393,704$9,783,862$4,560,973$54,511,028
100$90,688,688$10,154,098$4,604,592$59,785,701