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%18.1%
1 years$208,099$206,246$204,437$202,672$200,948$194,360
2 years$103,019$101,101$99,241$97,438$95,690$89,115
3 years$67,997$66,070$64,216$62,430$60,709$54,355
4 years$50,490$48,569$46,733$44,977$43,299$37,213
5 years$39,988$38,079$36,266$34,547$32,915$27,114
6 years$32,989$31,094$29,309$27,627$26,044$20,533
7 years$27,992$26,113$24,356$22,714$21,181$15,958
8 years$24,246$22,383$20,655$19,054$17,572$12,634
9 years$21,333$19,489$17,791$16,230$14,798$10,140
10 years$19,005$17,178$15,510$13,990$12,609$8,223
11 years$17,101$15,293$13,655$12,176$10,844$6,722
12 years$15,516$13,726$12,118$10,680$9,397$5,530
13 years$14,175$12,404$10,827$9,429$8,194$4,572
14 years$13,027$11,275$9,728$8,370$7,183$3,796
15 years$12,033$10,300$8,783$7,464$6,325$3,162
16 years$11,165$9,450$7,963$6,683$5,590$2,641
17 years$10,399$8,703$7,246$6,005$4,956$2,211
18 years$9,719$8,042$6,615$5,412$4,407$1,854
19 years$9,111$7,453$6,056$4,890$3,928$1,557
20 years$8,565$6,926$5,558$4,429$3,508$1,310
21 years$8,071$6,451$5,112$4,019$3,140$1,103
22 years$7,623$6,022$4,711$3,655$2,814$929
23 years$7,214$5,632$4,350$3,328$2,526$784
24 years$6,840$5,277$4,023$3,036$2,271$661
25 years$6,497$4,952$3,726$2,772$2,043$558
26 years$6,180$4,654$3,456$2,535$1,840$472
27 years$5,888$4,380$3,209$2,320$1,659$399
28 years$5,617$4,128$2,983$2,126$1,497$337
29 years$5,364$3,894$2,776$1,949$1,352$285
30 years$5,130$3,677$2,586$1,789$1,222$241
31 years$4,910$3,476$2,411$1,643$1,104$204
32 years$4,705$3,289$2,249$1,510$999$172
33 years$4,513$3,115$2,100$1,389$904$146
34 years$4,332$2,952$1,962$1,278$819$123
35 years$4,162$2,800$1,835$1,176$741$104
36 years$4,002$2,658$1,716$1,083$672$88
37 years$3,851$2,524$1,606$998$609$75
38 years$3,708$2,399$1,504$920$552$63
39 years$3,573$2,281$1,409$848$501$54
40 years$3,445$2,170$1,321$782$454$45
41 years$3,324$2,066$1,239$722$412$38
42 years$3,208$1,968$1,162$666$374$33
43 years$3,099$1,875$1,090$615$339$28
44 years$2,994$1,787$1,023$568$308$23
45 years$2,895$1,704$961$524$280$20
46 years$2,800$1,626$903$484$254$17
47 years$2,709$1,551$848$447$230$14
48 years$2,622$1,481$797$414$209$12
49 years$2,540$1,414$749$382$190$10
50 years$2,460$1,351$704$353$173$9

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 $3,449 every year, while hoping to spend $50,788 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: 42/30/28 Blend
61$2,520,000$2,520,000$2,520,000$2,520,000
62$2,780,598$2,647,038$2,607,978$2,874,453
63$3,010,181$2,722,704$2,641,307$3,018,025
64$3,261,479$2,800,377$2,674,050$3,168,368
65$3,536,654$2,880,099$2,706,135$3,330,221
66$3,838,085$2,961,917$2,737,483$3,504,676
67$4,168,394$3,045,875$2,768,014$3,692,938
68$4,530,468$3,132,021$2,797,640$3,896,333
69$4,927,486$3,220,400$2,826,271$4,116,319
70$5,362,949$3,311,059$2,853,810$4,354,506
71$5,840,714$3,404,045$2,880,158$4,612,664
72$6,365,030$3,499,407$2,905,206$4,892,743
73$6,940,576$3,597,191$2,928,843$5,196,892
74$7,572,507$3,697,445$2,950,951$5,527,477
75$8,266,500$3,800,217$2,971,405$5,887,107
76$9,028,810$3,905,555$2,990,075$6,278,653
77$9,866,329$4,013,508$3,006,823$6,705,280
78$10,786,648$4,124,122$3,021,504$7,170,474
79$11,798,128$4,237,446$3,033,966$7,678,079
80$12,909,983$4,353,527$3,044,050$8,232,326
81$14,132,363$4,472,412$3,051,588$8,837,880
82$15,476,452$4,594,148$3,056,404$9,499,880
83$16,954,569$4,718,780$3,058,313$10,223,991
84$18,580,289$4,846,354$3,057,120$11,016,454
85$20,368,567$4,976,914$3,052,622$11,884,145
86$22,335,882$5,110,504$3,044,606$12,834,643
87$24,500,389$5,247,166$3,032,848$13,876,301
88$26,882,093$5,386,942$3,017,113$15,018,323
89$29,503,035$5,529,870$2,997,154$16,270,851
90$32,387,500$5,675,989$2,972,714$17,645,063
91$35,562,248$5,825,336$2,943,523$19,153,279
92$39,056,764$5,977,944$2,909,298$20,809,074
93$42,903,537$6,133,846$2,869,742$22,627,409
94$47,138,364$6,293,070$2,824,545$24,624,774
95$51,800,691$6,455,645$2,773,381$26,819,340
96$56,933,984$6,621,594$2,715,911$29,231,134
97$62,586,135$6,790,937$2,651,780$31,882,227
98$68,809,920$6,963,692$2,580,613$34,796,942
99$75,663,491$7,139,872$2,502,023$38,002,087
100$83,210,927$7,319,485$2,415,601$41,527,206