Can I retire at age 62 with 2,530,000?

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 $2,530,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$208,925$207,064$205,248$203,476$201,746$194,433
2 years$103,428$101,502$99,635$97,825$96,069$88,782
3 years$68,267$66,333$64,471$62,677$60,950$53,918
4 years$50,690$48,762$46,918$45,156$43,470$36,746
5 years$40,147$38,230$36,410$34,684$33,045$26,647
6 years$33,120$31,217$29,425$27,737$26,148$20,080
7 years$28,103$26,216$24,452$22,804$21,265$15,526
8 years$24,342$22,472$20,737$19,130$17,641$12,227
9 years$21,418$19,566$17,861$16,294$14,857$9,759
10 years$19,080$17,247$15,572$14,046$12,659$7,869
11 years$17,169$15,354$13,709$12,224$10,887$6,395
12 years$15,577$13,781$12,167$10,722$9,434$5,229
13 years$14,232$12,454$10,870$9,466$8,227$4,297
14 years$13,079$11,320$9,767$8,403$7,212$3,545
15 years$12,081$10,341$8,818$7,494$6,350$2,934
16 years$11,209$9,488$7,995$6,710$5,612$2,435
17 years$10,440$8,738$7,275$6,029$4,976$2,025
18 years$9,757$8,074$6,641$5,433$4,424$1,687
19 years$9,147$7,483$6,080$4,909$3,943$1,407
20 years$8,599$6,954$5,580$4,446$3,522$1,175
21 years$8,103$6,477$5,132$4,035$3,152$983
22 years$7,653$6,046$4,730$3,669$2,825$822
23 years$7,243$5,655$4,367$3,342$2,536$689
24 years$6,868$5,298$4,039$3,048$2,280$577
25 years$6,523$4,972$3,741$2,783$2,051$484
26 years$6,205$4,673$3,470$2,545$1,848$406
27 years$5,911$4,398$3,222$2,329$1,666$340
28 years$5,639$4,144$2,995$2,134$1,503$285
29 years$5,386$3,909$2,787$1,957$1,357$240
30 years$5,150$3,692$2,596$1,796$1,226$201
31 years$4,930$3,490$2,420$1,650$1,109$169
32 years$4,724$3,302$2,258$1,516$1,003$142
33 years$4,531$3,127$2,109$1,394$908$119
34 years$4,350$2,964$1,970$1,283$822$100
35 years$4,179$2,811$1,842$1,181$744$84
36 years$4,018$2,668$1,723$1,088$674$71
37 years$3,867$2,534$1,613$1,002$611$59
38 years$3,723$2,409$1,510$924$554$50
39 years$3,587$2,290$1,415$852$503$42
40 years$3,459$2,179$1,326$785$456$35
41 years$3,337$2,074$1,244$725$414$30
42 years$3,221$1,975$1,167$669$375$25
43 years$3,111$1,882$1,095$617$341$21
44 years$3,006$1,794$1,027$570$309$18
45 years$2,906$1,711$965$526$281$15
46 years$2,811$1,632$906$486$255$12
47 years$2,720$1,558$851$449$231$10
48 years$2,633$1,487$800$415$210$9
49 years$2,550$1,420$752$384$191$7
50 years$2,470$1,356$707$355$173$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,530,000, adding $2,772 every year, while hoping to spend $45,247 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: 31/43/26 Blend
61$2,530,000$2,530,000$2,530,000$2,530,000
62$2,790,919$2,656,829$2,617,614$2,855,053
63$3,027,451$2,738,871$2,657,162$2,986,622
64$3,286,592$2,823,417$2,696,518$3,123,955
65$3,570,601$2,910,541$2,735,628$3,270,882
66$3,881,965$3,000,321$2,774,435$3,428,275
67$4,223,425$3,092,836$2,812,877$3,597,087
68$4,597,996$3,188,167$2,850,891$3,778,369
69$5,009,003$3,286,398$2,888,407$3,973,276
70$5,460,106$3,387,617$2,925,353$4,183,078
71$5,955,337$3,491,910$2,961,653$4,409,172
72$6,499,139$3,599,371$2,997,225$4,653,096
73$7,096,403$3,710,092$3,031,984$4,916,540
74$7,752,520$3,824,171$3,065,840$5,201,364
75$8,473,428$3,941,706$3,098,697$5,509,618
76$9,265,669$4,062,801$3,130,454$5,843,554
77$10,136,449$4,187,560$3,161,006$6,205,653
78$11,093,707$4,316,090$3,190,240$6,598,647
79$12,146,190$4,448,504$3,218,039$7,025,543
80$13,303,537$4,584,916$3,244,278$7,489,650
81$14,576,363$4,725,442$3,268,826$7,994,614
82$15,976,367$4,870,204$3,291,547$8,544,450
83$17,516,438$5,019,326$3,312,296$9,143,576
84$19,210,776$5,172,934$3,330,919$9,796,862
85$21,075,028$5,331,161$3,347,258$10,509,668
86$23,126,434$5,494,140$3,361,144$11,287,900
87$25,383,988$5,662,011$3,372,400$12,138,061
88$27,868,620$5,834,915$3,380,841$13,067,318
89$30,603,393$6,012,999$3,386,272$14,083,560
90$33,613,715$6,196,412$3,388,488$15,195,483
91$36,927,586$6,385,309$3,387,275$16,412,663
92$40,575,859$6,579,848$3,382,408$17,745,650
93$44,592,528$6,780,192$3,373,650$19,206,069
94$49,015,051$6,986,507$3,360,753$20,806,725
95$53,884,706$7,198,966$3,343,458$22,561,726
96$59,246,975$7,417,743$3,321,492$24,486,617
97$65,151,974$7,643,021$3,294,570$26,598,524
98$71,654,931$7,874,984$3,262,393$28,916,316
99$78,816,699$8,113,823$3,224,649$31,460,786
100$86,704,336$8,359,734$3,181,008$34,254,841