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

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 $2,530,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$208,925$207,064$205,248$203,476$201,746$195,366
2 years$103,428$101,502$99,635$97,825$96,069$89,700
3 years$68,267$66,333$64,471$62,677$60,950$54,791
4 years$50,690$48,762$46,918$45,156$43,470$37,568
5 years$40,147$38,230$36,410$34,684$33,045$27,416
6 years$33,120$31,217$29,425$27,737$26,148$20,796
7 years$28,103$26,216$24,452$22,804$21,265$16,191
8 years$24,342$22,472$20,737$19,130$17,641$12,841
9 years$21,418$19,566$17,861$16,294$14,857$10,324
10 years$19,080$17,247$15,572$14,046$12,659$8,388
11 years$17,169$15,354$13,709$12,224$10,887$6,870
12 years$15,577$13,781$12,167$10,722$9,434$5,663
13 years$14,232$12,454$10,870$9,466$8,227$4,692
14 years$13,079$11,320$9,767$8,403$7,212$3,903
15 years$12,081$10,341$8,818$7,494$6,350$3,258
16 years$11,209$9,488$7,995$6,710$5,612$2,727
17 years$10,440$8,738$7,275$6,029$4,976$2,288
18 years$9,757$8,074$6,641$5,433$4,424$1,923
19 years$9,147$7,483$6,080$4,909$3,943$1,619
20 years$8,599$6,954$5,580$4,446$3,522$1,365
21 years$8,103$6,477$5,132$4,035$3,152$1,152
22 years$7,653$6,046$4,730$3,669$2,825$973
23 years$7,243$5,655$4,367$3,342$2,536$822
24 years$6,868$5,298$4,039$3,048$2,280$696
25 years$6,523$4,972$3,741$2,783$2,051$589
26 years$6,205$4,673$3,470$2,545$1,848$499
27 years$5,911$4,398$3,222$2,329$1,666$422
28 years$5,639$4,144$2,995$2,134$1,503$358
29 years$5,386$3,909$2,787$1,957$1,357$303
30 years$5,150$3,692$2,596$1,796$1,226$257
31 years$4,930$3,490$2,420$1,650$1,109$218
32 years$4,724$3,302$2,258$1,516$1,003$185
33 years$4,531$3,127$2,109$1,394$908$157
34 years$4,350$2,964$1,970$1,283$822$133
35 years$4,179$2,811$1,842$1,181$744$113
36 years$4,018$2,668$1,723$1,088$674$96
37 years$3,867$2,534$1,613$1,002$611$81
38 years$3,723$2,409$1,510$924$554$69
39 years$3,587$2,290$1,415$852$503$59
40 years$3,459$2,179$1,326$785$456$50
41 years$3,337$2,074$1,244$725$414$42
42 years$3,221$1,975$1,167$669$375$36
43 years$3,111$1,882$1,095$617$341$30
44 years$3,006$1,794$1,027$570$309$26
45 years$2,906$1,711$965$526$281$22
46 years$2,811$1,632$906$486$255$19
47 years$2,720$1,558$851$449$231$16
48 years$2,633$1,487$800$415$210$13
49 years$2,550$1,420$752$384$191$11
50 years$2,470$1,356$707$355$173$10

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 $4,246 every year, while hoping to spend $35,217 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: 55/23/22 Blend
61$2,530,000$2,530,000$2,530,000$2,530,000
62$2,792,440$2,658,350$2,619,135$2,929,063
63$3,039,798$2,751,138$2,669,405$3,115,932
64$3,311,206$2,847,293$2,720,179$3,315,265
65$3,609,081$2,946,942$2,771,437$3,531,594
66$3,936,083$3,050,218$2,823,156$3,766,561
67$4,295,144$3,157,259$2,875,312$4,021,969
68$4,689,493$3,268,209$2,927,879$4,299,804
69$5,122,686$3,383,217$2,980,828$4,602,253
70$5,598,645$3,502,438$3,034,130$4,931,721
71$6,121,684$3,626,035$3,087,751$5,290,857
72$6,696,560$3,754,176$3,141,655$5,682,576
73$7,328,514$3,887,035$3,195,805$6,110,086
74$8,023,317$4,024,794$3,250,160$6,576,923
75$8,787,330$4,167,644$3,304,675$7,086,976
76$9,627,560$4,315,781$3,359,304$7,644,529
77$10,551,727$4,469,410$3,413,996$8,254,300
78$11,568,337$4,628,745$3,468,699$8,921,484
79$12,686,762$4,794,007$3,523,354$9,651,801
80$13,917,327$4,965,429$3,577,902$10,451,553
81$15,271,410$5,143,251$3,632,278$11,327,679
82$16,761,547$5,327,723$3,686,412$12,287,821
83$18,401,550$5,519,107$3,740,232$13,340,398
84$20,206,638$5,717,674$3,793,660$14,494,683
85$22,193,582$5,923,706$3,846,614$15,760,888
86$24,380,859$6,137,499$3,899,007$17,150,265
87$26,788,829$6,359,359$3,950,747$18,675,208
88$29,439,927$6,589,606$4,001,735$20,349,370
89$32,358,875$6,828,572$4,051,868$22,187,789
90$35,572,912$7,076,603$4,101,037$24,207,037
91$39,112,053$7,334,061$4,149,126$26,425,365
92$43,009,374$7,601,322$4,196,014$28,862,885
93$47,301,321$7,878,777$4,241,570$31,541,750
94$52,028,053$8,166,835$4,285,661$34,486,371
95$57,233,825$8,465,920$4,328,141$37,723,639
96$62,967,401$8,776,476$4,368,860$41,283,183
97$69,282,518$9,098,965$4,407,658$45,197,650
98$76,238,388$9,433,868$4,444,368$49,503,004
99$83,900,262$9,781,686$4,478,813$54,238,877
100$92,340,043$10,142,942$4,510,807$59,448,932