Can I retire at age 62 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$208,099$206,246$204,437$202,672$200,948$195,773
2 years$103,019$101,101$99,241$97,438$95,690$90,510
3 years$67,997$66,070$64,216$62,430$60,709$55,687
4 years$50,490$48,569$46,733$44,977$43,299$38,473
5 years$39,988$38,079$36,266$34,547$32,915$28,299
6 years$32,989$31,094$29,309$27,627$26,044$21,643
7 years$27,992$26,113$24,356$22,714$21,181$16,994
8 years$24,246$22,383$20,655$19,054$17,572$13,597
9 years$21,333$19,489$17,791$16,230$14,798$11,033
10 years$19,005$17,178$15,510$13,990$12,609$9,048
11 years$17,101$15,293$13,655$12,176$10,844$7,483
12 years$15,516$13,726$12,118$10,680$9,397$6,229
13 years$14,175$12,404$10,827$9,429$8,194$5,213
14 years$13,027$11,275$9,728$8,370$7,183$4,382
15 years$12,033$10,300$8,783$7,464$6,325$3,697
16 years$11,165$9,450$7,963$6,683$5,590$3,128
17 years$10,399$8,703$7,246$6,005$4,956$2,653
18 years$9,719$8,042$6,615$5,412$4,407$2,255
19 years$9,111$7,453$6,056$4,890$3,928$1,920
20 years$8,565$6,926$5,558$4,429$3,508$1,637
21 years$8,071$6,451$5,112$4,019$3,140$1,398
22 years$7,623$6,022$4,711$3,655$2,814$1,194
23 years$7,214$5,632$4,350$3,328$2,526$1,022
24 years$6,840$5,277$4,023$3,036$2,271$875
25 years$6,497$4,952$3,726$2,772$2,043$749
26 years$6,180$4,654$3,456$2,535$1,840$642
27 years$5,888$4,380$3,209$2,320$1,659$550
28 years$5,617$4,128$2,983$2,126$1,497$472
29 years$5,364$3,894$2,776$1,949$1,352$405
30 years$5,130$3,677$2,586$1,789$1,222$348
31 years$4,910$3,476$2,411$1,643$1,104$299
32 years$4,705$3,289$2,249$1,510$999$256
33 years$4,513$3,115$2,100$1,389$904$220
34 years$4,332$2,952$1,962$1,278$819$189
35 years$4,162$2,800$1,835$1,176$741$163
36 years$4,002$2,658$1,716$1,083$672$140
37 years$3,851$2,524$1,606$998$609$120
38 years$3,708$2,399$1,504$920$552$103
39 years$3,573$2,281$1,409$848$501$89
40 years$3,445$2,170$1,321$782$454$76
41 years$3,324$2,066$1,239$722$412$65
42 years$3,208$1,968$1,162$666$374$56
43 years$3,099$1,875$1,090$615$339$48
44 years$2,994$1,787$1,023$568$308$42
45 years$2,895$1,704$961$524$280$36
46 years$2,800$1,626$903$484$254$31
47 years$2,709$1,551$848$447$230$26
48 years$2,622$1,481$797$414$209$23
49 years$2,540$1,414$749$382$190$20
50 years$2,460$1,351$704$353$173$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,520,000, adding $4,802 every year, while hoping to spend $50,648 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: 40/46/14 Blend
61$2,520,000$2,520,000$2,520,000$2,520,000
62$2,781,993$2,648,433$2,609,373$2,881,491
63$3,011,867$2,724,317$2,642,898$3,028,290
64$3,263,491$2,802,222$2,675,849$3,181,681
65$3,539,030$2,882,194$2,708,152$3,346,521
66$3,840,867$2,964,278$2,739,731$3,523,872
67$4,171,629$3,048,520$2,770,506$3,714,902
68$4,534,207$3,134,969$2,800,389$3,920,896
69$4,931,785$3,223,672$2,829,292$4,143,268
70$5,367,872$3,314,677$2,857,118$4,383,573
71$5,846,330$3,408,032$2,883,766$4,643,525
72$6,371,416$3,503,785$2,909,133$4,925,006
73$6,947,817$3,601,987$2,933,105$5,230,090
74$7,580,695$3,702,685$2,955,565$5,561,061
75$8,275,739$3,805,930$2,976,390$5,920,432
76$9,039,216$3,911,771$2,995,449$6,310,971
77$9,878,026$4,020,258$3,012,607$6,735,723
78$10,799,774$4,131,441$3,027,719$7,198,044
79$11,812,838$4,245,368$3,040,635$7,701,630
80$12,926,446$4,362,090$3,051,194$8,250,549
81$14,150,766$4,481,655$3,059,232$8,849,282
82$15,497,000$4,604,112$3,064,572$9,502,767
83$16,977,490$4,729,509$3,067,031$10,216,440
84$18,605,833$4,857,895$3,066,416$10,996,291
85$20,397,012$4,989,315$3,062,525$11,848,917
86$22,367,532$5,123,817$3,055,145$12,781,585
87$24,535,581$5,261,445$3,044,053$13,802,303
88$26,921,198$5,402,243$3,029,017$14,919,891
89$29,546,462$5,546,255$3,009,790$16,144,068
90$32,435,701$5,693,521$2,986,118$17,485,540
91$35,615,721$5,844,082$2,957,731$18,956,104
92$39,116,057$5,997,974$2,924,348$20,568,756
93$42,969,255$6,155,235$2,885,674$22,337,819
94$47,211,175$6,315,898$2,841,400$24,279,070
95$51,881,331$6,479,993$2,791,203$26,409,896
96$57,023,263$6,647,549$2,734,744$28,749,455
97$62,684,949$6,818,592$2,671,671$31,318,856
98$68,919,254$6,993,143$2,601,612$34,141,360
99$75,784,432$7,171,221$2,524,180$37,242,599
100$83,344,673$7,352,840$2,438,969$40,650,815