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

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$208,099$206,246$204,437$202,672$200,948$194,828
2 years$103,019$101,101$99,241$97,438$95,690$89,576
3 years$67,997$66,070$64,216$62,430$60,709$54,794
4 years$50,490$48,569$46,733$44,977$43,299$37,627
5 years$39,988$38,079$36,266$34,547$32,915$27,503
6 years$32,989$31,094$29,309$27,627$26,044$20,896
7 years$27,992$26,113$24,356$22,714$21,181$16,296
8 years$24,246$22,383$20,655$19,054$17,572$12,948
9 years$21,333$19,489$17,791$16,230$14,798$10,429
10 years$19,005$17,178$15,510$13,990$12,609$8,489
11 years$17,101$15,293$13,655$12,176$10,844$6,967
12 years$15,516$13,726$12,118$10,680$9,397$5,754
13 years$14,175$12,404$10,827$9,429$8,194$4,777
14 years$13,027$11,275$9,728$8,370$7,183$3,982
15 years$12,033$10,300$8,783$7,464$6,325$3,331
16 years$11,165$9,450$7,963$6,683$5,590$2,794
17 years$10,399$8,703$7,246$6,005$4,956$2,350
18 years$9,719$8,042$6,615$5,412$4,407$1,979
19 years$9,111$7,453$6,056$4,890$3,928$1,670
20 years$8,565$6,926$5,558$4,429$3,508$1,411
21 years$8,071$6,451$5,112$4,019$3,140$1,194
22 years$7,623$6,022$4,711$3,655$2,814$1,011
23 years$7,214$5,632$4,350$3,328$2,526$856
24 years$6,840$5,277$4,023$3,036$2,271$726
25 years$6,497$4,952$3,726$2,772$2,043$616
26 years$6,180$4,654$3,456$2,535$1,840$523
27 years$5,888$4,380$3,209$2,320$1,659$444
28 years$5,617$4,128$2,983$2,126$1,497$377
29 years$5,364$3,894$2,776$1,949$1,352$320
30 years$5,130$3,677$2,586$1,789$1,222$272
31 years$4,910$3,476$2,411$1,643$1,104$231
32 years$4,705$3,289$2,249$1,510$999$197
33 years$4,513$3,115$2,100$1,389$904$167
34 years$4,332$2,952$1,962$1,278$819$142
35 years$4,162$2,800$1,835$1,176$741$121
36 years$4,002$2,658$1,716$1,083$672$103
37 years$3,851$2,524$1,606$998$609$88
38 years$3,708$2,399$1,504$920$552$75
39 years$3,573$2,281$1,409$848$501$63
40 years$3,445$2,170$1,321$782$454$54
41 years$3,324$2,066$1,239$722$412$46
42 years$3,208$1,968$1,162$666$374$39
43 years$3,099$1,875$1,090$615$339$33
44 years$2,994$1,787$1,023$568$308$28
45 years$2,895$1,704$961$524$280$24
46 years$2,800$1,626$903$484$254$20
47 years$2,709$1,551$848$447$230$17
48 years$2,622$1,481$797$414$209$15
49 years$2,540$1,414$749$382$190$13
50 years$2,460$1,351$704$353$173$11

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 $3,078 every year, while hoping to spend $38,051 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: 57/36/7 Blend
61$2,520,000$2,520,000$2,520,000$2,520,000
62$2,780,215$2,646,655$2,607,595$2,934,245
63$3,023,311$2,735,855$2,654,463$3,127,431
64$3,289,927$2,828,151$2,701,627$3,333,270
65$3,582,423$2,923,653$2,749,054$3,556,597
66$3,903,397$3,022,479$2,796,714$3,799,088
67$4,255,710$3,124,747$2,844,571$4,062,582
68$4,642,515$3,230,582$2,892,587$4,349,104
69$5,067,285$3,340,115$2,940,722$4,660,882
70$5,533,846$3,453,478$2,988,934$5,000,366
71$6,046,411$3,570,811$3,037,176$5,370,252
72$6,609,624$3,692,259$3,085,400$5,773,509
73$7,228,598$3,817,973$3,133,554$6,213,401
74$7,908,969$3,948,107$3,181,581$6,693,523
75$8,656,943$4,082,824$3,229,424$7,217,832
76$9,479,361$4,222,292$3,277,019$7,790,682
77$10,383,757$4,366,685$3,324,300$8,416,867
78$11,378,432$4,516,185$3,371,196$9,101,666
79$12,472,534$4,670,979$3,417,633$9,850,890
80$13,676,139$4,831,264$3,463,530$10,670,936
81$15,000,351$4,997,242$3,508,805$11,568,851
82$16,457,404$5,169,124$3,553,367$12,552,392
83$18,060,778$5,347,130$3,597,123$13,630,102
84$19,825,324$5,531,486$3,639,974$14,811,390
85$21,767,408$5,722,430$3,681,814$16,106,617
86$23,905,061$5,920,207$3,722,532$17,527,194
87$26,258,153$6,125,072$3,762,012$19,085,689
88$28,848,575$6,337,291$3,800,130$20,795,947
89$31,700,451$6,557,140$3,836,756$22,673,214
90$34,840,362$6,784,905$3,871,753$24,734,286
91$38,297,598$7,020,884$3,904,975$26,997,663
92$42,104,432$7,265,387$3,936,271$29,483,723
93$46,296,429$7,518,735$3,965,481$32,214,917
94$50,912,776$7,781,264$3,992,436$35,215,973
95$55,996,655$8,053,322$4,016,958$38,514,135
96$61,595,648$8,335,269$4,038,861$42,139,415
97$67,762,191$8,627,484$4,057,949$46,124,877
98$74,554,059$8,930,356$4,074,015$50,506,946
99$82,034,923$9,244,292$4,086,844$55,325,754
100$90,274,939$9,569,717$4,096,207$60,625,513