Can I retire at age 62 with 2,510,000?

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 $2,510,000?

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$207,273$205,427$203,626$201,868$200,151$192,590
2 years$102,611$100,700$98,848$97,052$95,310$87,780
3 years$67,728$65,808$63,961$62,182$60,469$53,207
4 years$50,289$48,376$46,547$44,799$43,127$36,189
5 years$39,829$37,927$36,122$34,410$32,784$26,187
6 years$32,858$30,971$29,192$27,518$25,941$19,690
7 years$27,881$26,009$24,259$22,624$21,097$15,190
8 years$24,149$22,295$20,574$18,979$17,502$11,934
9 years$21,249$19,411$17,720$16,166$14,739$9,502
10 years$18,930$17,110$15,449$13,935$12,559$7,642
11 years$17,033$15,232$13,601$12,127$10,801$6,195
12 years$15,454$13,672$12,070$10,637$9,360$5,052
13 years$14,119$12,355$10,784$9,391$8,162$4,140
14 years$12,976$11,230$9,690$8,337$7,155$3,406
15 years$11,986$10,259$8,748$7,435$6,300$2,811
16 years$11,120$9,413$7,932$6,657$5,568$2,326
17 years$10,357$8,669$7,217$5,981$4,937$1,928
18 years$9,680$8,010$6,589$5,390$4,389$1,602
19 years$9,075$7,424$6,032$4,871$3,912$1,332
20 years$8,531$6,899$5,535$4,411$3,495$1,109
21 years$8,039$6,426$5,092$4,003$3,127$925
22 years$7,593$5,998$4,693$3,640$2,803$771
23 years$7,186$5,610$4,333$3,315$2,516$644
24 years$6,813$5,256$4,007$3,024$2,262$538
25 years$6,471$4,933$3,711$2,761$2,035$449
26 years$6,156$4,636$3,442$2,525$1,833$376
27 years$5,864$4,363$3,196$2,311$1,653$314
28 years$5,594$4,111$2,971$2,117$1,491$263
29 years$5,343$3,878$2,765$1,942$1,347$220
30 years$5,109$3,663$2,576$1,782$1,217$184
31 years$4,891$3,463$2,401$1,637$1,100$154
32 years$4,687$3,276$2,240$1,504$995$129
33 years$4,495$3,103$2,092$1,383$901$108
34 years$4,315$2,941$1,954$1,273$815$90
35 years$4,146$2,789$1,827$1,171$738$76
36 years$3,986$2,647$1,709$1,079$669$63
37 years$3,836$2,514$1,600$994$606$53
38 years$3,694$2,390$1,498$916$550$44
39 years$3,559$2,272$1,404$845$499$37
40 years$3,432$2,162$1,316$779$452$31
41 years$3,311$2,058$1,234$719$410$26
42 years$3,196$1,960$1,157$664$372$22
43 years$3,086$1,867$1,086$612$338$18
44 years$2,982$1,780$1,019$566$307$15
45 years$2,883$1,697$957$522$278$13
46 years$2,789$1,619$899$482$253$11
47 years$2,698$1,545$845$446$230$9
48 years$2,612$1,475$794$412$208$8
49 years$2,530$1,409$746$381$189$6
50 years$2,451$1,346$701$352$172$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,510,000, adding $6,478 every year, while hoping to spend $34,277 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: 43/42/15 Blend
61$2,510,000$2,510,000$2,510,000$2,510,000
62$2,772,702$2,639,672$2,600,767$2,879,579
63$3,019,047$2,732,546$2,651,422$3,048,081
64$3,289,371$2,828,821$2,702,626$3,226,611
65$3,586,082$2,928,629$2,754,359$3,419,286
66$3,911,836$3,032,105$2,806,604$3,627,422
67$4,269,556$3,139,391$2,859,338$3,852,461
68$4,662,463$3,250,633$2,912,537$4,095,993
69$5,094,104$3,365,984$2,966,178$4,359,761
70$5,568,389$3,485,604$3,020,231$4,645,684
71$6,089,624$3,609,658$3,074,668$4,955,870
72$6,662,553$3,738,318$3,129,457$5,292,639
73$7,292,402$3,871,764$3,184,562$5,658,541
74$7,984,929$4,010,183$3,239,946$6,056,381
75$8,746,477$4,153,767$3,295,570$6,489,244
76$9,584,037$4,302,721$3,351,391$6,960,525
77$10,505,308$4,457,254$3,407,362$7,473,960
78$11,518,776$4,617,586$3,463,435$8,033,656
79$12,633,788$4,783,944$3,519,557$8,644,138
80$13,860,644$4,956,568$3,575,673$9,310,380
81$15,210,694$5,135,703$3,631,721$10,037,862
82$16,696,440$5,321,608$3,687,640$10,832,613
83$18,331,662$5,514,552$3,743,361$11,701,268
84$20,131,541$5,714,814$3,798,812$12,651,135
85$22,112,803$5,922,685$3,853,918$13,690,255
86$24,293,882$6,138,469$3,908,596$14,827,486
87$26,695,086$6,362,482$3,962,762$16,072,576
88$29,338,794$6,595,054$4,016,324$17,436,261
89$32,249,666$6,836,526$4,069,187$18,930,363
90$35,454,874$7,087,258$4,121,246$20,567,900
91$38,984,359$7,347,622$4,172,396$22,363,207
92$42,871,114$7,618,006$4,222,522$24,332,071
93$47,151,494$7,898,814$4,271,502$26,491,880
94$51,865,560$8,190,470$4,319,211$28,861,783
95$57,057,456$8,493,411$4,365,513$31,462,872
96$62,775,826$8,808,098$4,410,268$34,318,376
97$69,074,272$9,135,007$4,453,324$37,453,885
98$76,011,863$9,474,637$4,494,525$40,897,582
99$83,653,686$9,827,507$4,533,705$44,680,514
100$92,071,467$10,194,160$4,570,688$48,836,880