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

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 $2,510,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$207,273$205,427$203,626$201,868$200,151$194,367
2 years$102,611$100,700$98,848$97,052$95,310$89,529
3 years$67,728$65,808$63,961$62,182$60,469$54,871
4 years$50,289$48,376$46,547$44,799$43,127$37,756
5 years$39,829$37,927$36,122$34,410$32,784$27,655
6 years$32,858$30,971$29,192$27,518$25,941$21,058
7 years$27,881$26,009$24,259$22,624$21,097$16,460
8 years$24,149$22,295$20,574$18,979$17,502$13,108
9 years$21,249$19,411$17,720$16,166$14,739$10,585
10 years$18,930$17,110$15,449$13,935$12,559$8,637
11 years$17,033$15,232$13,601$12,127$10,801$7,106
12 years$15,454$13,672$12,070$10,637$9,360$5,885
13 years$14,119$12,355$10,784$9,391$8,162$4,899
14 years$12,976$11,230$9,690$8,337$7,155$4,095
15 years$11,986$10,259$8,748$7,435$6,300$3,435
16 years$11,120$9,413$7,932$6,657$5,568$2,890
17 years$10,357$8,669$7,217$5,981$4,937$2,437
18 years$9,680$8,010$6,589$5,390$4,389$2,059
19 years$9,075$7,424$6,032$4,871$3,912$1,743
20 years$8,531$6,899$5,535$4,411$3,495$1,477
21 years$8,039$6,426$5,092$4,003$3,127$1,253
22 years$7,593$5,998$4,693$3,640$2,803$1,064
23 years$7,186$5,610$4,333$3,315$2,516$905
24 years$6,813$5,256$4,007$3,024$2,262$769
25 years$6,471$4,933$3,711$2,761$2,035$655
26 years$6,156$4,636$3,442$2,525$1,833$558
27 years$5,864$4,363$3,196$2,311$1,653$475
28 years$5,594$4,111$2,971$2,117$1,491$405
29 years$5,343$3,878$2,765$1,942$1,347$345
30 years$5,109$3,663$2,576$1,782$1,217$294
31 years$4,891$3,463$2,401$1,637$1,100$251
32 years$4,687$3,276$2,240$1,504$995$214
33 years$4,495$3,103$2,092$1,383$901$183
34 years$4,315$2,941$1,954$1,273$815$156
35 years$4,146$2,789$1,827$1,171$738$133
36 years$3,986$2,647$1,709$1,079$669$114
37 years$3,836$2,514$1,600$994$606$97
38 years$3,694$2,390$1,498$916$550$83
39 years$3,559$2,272$1,404$845$499$71
40 years$3,432$2,162$1,316$779$452$60
41 years$3,311$2,058$1,234$719$410$51
42 years$3,196$1,960$1,157$664$372$44
43 years$3,086$1,867$1,086$612$338$38
44 years$2,982$1,780$1,019$566$307$32
45 years$2,883$1,697$957$522$278$27
46 years$2,789$1,619$899$482$253$23
47 years$2,698$1,545$845$446$230$20
48 years$2,612$1,475$794$412$208$17
49 years$2,530$1,409$746$381$189$15
50 years$2,451$1,346$701$352$172$12

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 $5,513 every year, while hoping to spend $46,508 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: 47/25/28 Blend
61$2,510,000$2,510,000$2,510,000$2,510,000
62$2,771,707$2,638,677$2,599,772$2,879,497
63$3,004,937$2,718,488$2,637,380$3,035,948
64$3,260,397$2,800,651$2,674,689$3,200,713
65$3,540,307$2,885,232$2,711,641$3,378,676
66$3,847,109$2,972,299$2,748,171$3,571,101
67$4,183,494$3,061,922$2,784,215$3,779,381
68$4,552,426$3,154,171$2,819,702$4,005,050
69$4,957,169$3,249,121$2,854,557$4,249,796
70$5,401,317$3,346,845$2,888,702$4,515,478
71$5,888,833$3,447,421$2,922,054$4,804,144
72$6,424,077$3,550,928$2,954,526$5,118,049
73$7,011,855$3,657,446$2,986,026$5,459,676
74$7,657,461$3,767,058$3,016,455$5,831,761
75$8,366,727$3,879,849$3,045,710$6,237,315
76$9,146,076$3,995,904$3,073,685$6,679,660
77$10,002,586$4,115,314$3,100,263$7,162,449
78$10,944,054$4,238,168$3,125,326$7,689,712
79$11,979,069$4,364,560$3,148,746$8,265,884
80$13,117,096$4,494,585$3,170,391$8,895,854
81$14,368,560$4,628,341$3,190,120$9,585,008
82$15,744,950$4,765,926$3,207,785$10,339,278
83$17,258,922$4,907,443$3,223,233$11,165,203
84$18,924,420$5,052,996$3,236,299$12,069,985
85$20,756,809$5,202,691$3,246,814$13,061,562
86$22,773,018$5,356,638$3,254,597$14,148,676
87$24,991,700$5,514,946$3,259,459$15,340,965
88$27,433,406$5,677,731$3,261,203$16,649,045
89$30,120,781$5,845,108$3,259,621$18,084,617
90$33,078,777$6,017,195$3,254,495$19,660,570
91$36,334,888$6,194,112$3,245,596$21,391,112
92$39,919,407$6,375,985$3,232,684$23,291,896
93$43,865,715$6,562,937$3,215,508$25,380,172
94$48,210,595$6,755,098$3,193,805$27,674,947
95$52,994,576$6,952,597$3,167,297$30,197,169
96$58,262,317$7,155,569$3,135,696$32,969,920
97$64,063,030$7,364,149$3,098,699$36,018,637
98$70,450,942$7,578,475$3,055,988$39,371,351
99$77,485,805$7,798,687$3,007,231$43,058,951
100$85,233,464$8,024,930$2,952,080$47,115,477