Can I retire at age 62 with 2,490,000?

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 $2,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$205,622$203,790$202,003$200,259$198,556$191,056
2 years$101,793$99,897$98,060$96,278$94,551$87,081
3 years$67,188$65,284$63,451$61,687$59,987$52,783
4 years$49,889$47,991$46,176$44,442$42,783$35,900
5 years$39,512$37,625$35,835$34,135$32,523$25,979
6 years$32,596$30,724$28,960$27,298$25,734$19,533
7 years$27,659$25,802$24,066$22,444$20,929$15,069
8 years$23,957$22,117$20,410$18,827$17,363$11,839
9 years$21,079$19,257$17,579$16,037$14,622$9,426
10 years$18,779$16,974$15,326$13,824$12,458$7,581
11 years$16,898$15,111$13,492$12,031$10,715$6,145
12 years$15,331$13,563$11,974$10,553$9,285$5,012
13 years$14,007$12,257$10,698$9,316$8,097$4,107
14 years$12,872$11,141$9,612$8,270$7,098$3,379
15 years$11,890$10,178$8,679$7,375$6,249$2,789
16 years$11,032$9,338$7,868$6,604$5,523$2,307
17 years$10,275$8,600$7,160$5,934$4,897$1,913
18 years$9,603$7,946$6,536$5,347$4,354$1,589
19 years$9,002$7,365$5,984$4,832$3,881$1,322
20 years$8,463$6,844$5,491$4,376$3,467$1,100
21 years$7,975$6,375$5,051$3,972$3,102$917
22 years$7,532$5,950$4,655$3,611$2,781$765
23 years$7,129$5,565$4,298$3,289$2,496$639
24 years$6,759$5,214$3,975$2,999$2,244$533
25 years$6,420$4,893$3,682$2,739$2,019$446
26 years$6,107$4,599$3,415$2,505$1,819$373
27 years$5,818$4,328$3,171$2,293$1,640$312
28 years$5,550$4,078$2,948$2,100$1,479$261
29 years$5,301$3,848$2,743$1,926$1,336$218
30 years$5,069$3,634$2,555$1,768$1,207$182
31 years$4,852$3,435$2,382$1,624$1,091$153
32 years$4,649$3,250$2,223$1,492$987$128
33 years$4,459$3,078$2,075$1,372$893$107
34 years$4,281$2,917$1,939$1,262$809$90
35 years$4,113$2,767$1,813$1,162$733$75
36 years$3,955$2,626$1,696$1,070$664$63
37 years$3,805$2,494$1,587$986$602$53
38 years$3,664$2,370$1,486$909$545$44
39 years$3,531$2,254$1,393$838$495$37
40 years$3,404$2,145$1,305$773$449$31
41 years$3,284$2,041$1,224$713$407$26
42 years$3,170$1,944$1,148$658$369$22
43 years$3,062$1,852$1,077$608$335$18
44 years$2,958$1,766$1,011$561$304$15
45 years$2,860$1,684$950$518$276$13
46 years$2,766$1,606$892$479$251$11
47 years$2,677$1,533$838$442$228$9
48 years$2,591$1,463$787$409$207$7
49 years$2,509$1,397$740$378$188$6
50 years$2,431$1,335$696$349$171$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,490,000, adding $6,363 every year, while hoping to spend $28,288 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: 47/23/30 Blend
61$2,490,000$2,490,000$2,490,000$2,490,000
62$2,750,543$2,618,573$2,579,978$2,855,867
63$3,001,001$2,716,785$2,636,309$3,029,289
64$3,276,056$2,818,861$2,693,580$3,214,202
65$3,578,190$2,924,961$2,751,790$3,414,404
66$3,910,132$3,035,252$2,810,942$3,631,350
67$4,274,892$3,149,905$2,871,035$3,866,640
68$4,675,784$3,269,104$2,932,068$4,122,034
69$5,116,460$3,393,036$2,994,038$4,399,470
70$5,600,943$3,521,899$3,056,942$4,701,076
71$6,133,665$3,655,898$3,120,776$5,029,197
72$6,719,510$3,795,248$3,185,533$5,386,413
73$7,363,858$3,940,172$3,251,206$5,775,561
74$8,072,636$4,090,905$3,317,786$6,199,766
75$8,852,376$4,247,691$3,385,263$6,662,465
76$9,710,274$4,410,783$3,453,625$7,167,445
77$10,654,259$4,580,448$3,522,858$7,718,872
78$11,693,066$4,756,964$3,592,947$8,321,332
79$12,836,322$4,940,618$3,663,874$8,979,876
80$14,094,633$5,131,715$3,735,620$9,700,064
81$15,479,686$5,330,569$3,808,163$10,488,019
82$17,004,357$5,537,509$3,881,480$11,350,482
83$18,682,835$5,752,881$3,955,543$12,294,878
84$20,530,755$5,977,043$4,030,325$13,329,381
85$22,565,345$6,210,371$4,105,793$14,462,996
86$24,805,587$6,453,256$4,181,914$15,705,639
87$27,272,398$6,706,107$4,258,650$17,068,231
88$29,988,829$6,969,353$4,335,961$18,562,801
89$32,980,277$7,243,438$4,413,803$20,202,598
90$36,274,729$7,528,831$4,492,129$22,002,215
91$39,903,025$7,826,017$4,570,889$23,977,728
92$43,899,148$8,135,506$4,650,028$26,146,844
93$48,300,545$8,457,829$4,729,488$28,529,068
94$53,148,480$8,793,543$4,809,205$31,145,888
95$58,488,425$9,143,226$4,889,113$34,020,975
96$64,370,486$9,507,487$4,969,141$37,180,404
97$70,849,880$9,886,957$5,049,211$40,652,905
98$77,987,450$10,282,300$5,129,242$44,470,124
99$85,850,245$10,694,208$5,209,147$48,666,930
100$94,512,149$11,123,404$5,288,832$53,281,736