Can I retire at age 62 with 2,540,000?

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 $2,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$209,751$207,882$206,060$204,280$202,543$199,352
2 years$103,837$101,903$100,029$98,212$96,449$93,242
3 years$68,537$66,595$64,725$62,925$61,191$58,069
4 years$50,891$48,954$47,103$45,334$43,642$40,628
5 years$40,305$38,381$36,554$34,821$33,176$30,278
6 years$33,251$31,341$29,541$27,847$26,251$23,474
7 years$28,214$26,320$24,549$22,894$21,349$18,693
8 years$24,438$22,561$20,819$19,205$17,711$15,176
9 years$21,503$19,643$17,932$16,359$14,915$12,499
10 years$19,156$17,315$15,633$14,101$12,709$10,410
11 years$17,237$15,414$13,763$12,272$10,930$8,746
12 years$15,639$13,835$12,215$10,765$9,472$7,400
13 years$14,288$12,503$10,913$9,503$8,259$6,298
14 years$13,131$11,365$9,805$8,436$7,240$5,384
15 years$12,129$10,382$8,853$7,524$6,375$4,622
16 years$11,253$9,525$8,026$6,737$5,634$3,980
17 years$10,481$8,772$7,304$6,053$4,996$3,437
18 years$9,796$8,106$6,667$5,455$4,442$2,975
19 years$9,183$7,513$6,104$4,929$3,959$2,581
20 years$8,633$6,981$5,602$4,464$3,536$2,242
21 years$8,135$6,503$5,152$4,051$3,165$1,951
22 years$7,683$6,070$4,749$3,684$2,837$1,700
23 years$7,272$5,677$4,385$3,355$2,546$1,483
24 years$6,895$5,319$4,055$3,060$2,289$1,294
25 years$6,549$4,992$3,756$2,794$2,059$1,131
26 years$6,229$4,691$3,483$2,555$1,855$989
27 years$5,934$4,415$3,235$2,339$1,673$865
28 years$5,661$4,160$3,007$2,143$1,509$757
29 years$5,407$3,925$2,798$1,965$1,363$663
30 years$5,170$3,707$2,606$1,803$1,231$581
31 years$4,949$3,504$2,430$1,656$1,113$509
32 years$4,743$3,315$2,267$1,522$1,007$447
33 years$4,549$3,140$2,117$1,400$911$392
34 years$4,367$2,976$1,978$1,288$825$344
35 years$4,195$2,822$1,849$1,185$747$301
36 years$4,034$2,679$1,730$1,092$677$265
37 years$3,882$2,544$1,619$1,006$614$232
38 years$3,738$2,418$1,516$927$556$204
39 years$3,602$2,299$1,421$855$505$179
40 years$3,473$2,188$1,331$789$458$157
41 years$3,350$2,082$1,248$728$415$138
42 years$3,234$1,983$1,171$671$377$121
43 years$3,123$1,890$1,099$620$342$106
44 years$3,018$1,801$1,032$572$310$93
45 years$2,918$1,718$969$529$282$82
46 years$2,822$1,639$910$488$256$72
47 years$2,731$1,564$855$451$232$63
48 years$2,643$1,493$803$417$211$56
49 years$2,560$1,425$755$385$192$49
50 years$2,480$1,362$710$356$174$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,540,000, adding $3,200 every year, while hoping to spend $20,199 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: 75/20/5 Blend
61$2,540,000$2,540,000$2,540,000$2,540,000
62$2,802,381$2,667,761$2,628,391$3,011,396
63$3,066,732$2,776,989$2,694,950$3,258,419
64$3,357,370$2,890,893$2,763,063$3,526,107
65$3,676,955$3,009,680$2,832,758$3,818,829
66$4,028,417$3,133,567$2,904,069$4,139,052
67$4,414,986$3,262,782$2,977,025$4,489,496
68$4,840,218$3,397,562$3,051,658$4,873,151
69$5,308,033$3,538,155$3,128,002$5,293,311
70$5,822,749$3,684,822$3,206,087$5,753,602
71$6,389,126$3,837,835$3,285,948$6,258,015
72$7,012,406$3,997,478$3,367,615$6,810,945
73$7,698,365$4,164,048$3,451,124$7,417,231
74$8,453,369$4,337,857$3,536,508$8,082,200
75$9,284,431$4,519,230$3,623,799$8,811,719
76$10,199,279$4,708,508$3,713,032$9,612,249
77$11,206,428$4,906,048$3,804,242$10,490,905
78$12,315,262$5,112,222$3,897,462$11,455,520
79$13,536,118$5,327,421$3,992,727$12,514,724
80$14,880,390$5,552,053$4,090,071$13,678,021
81$16,360,631$5,786,544$4,189,529$14,955,877
82$17,990,673$6,031,343$4,291,136$16,359,820
83$19,785,759$6,286,916$4,394,927$17,902,549
84$21,762,685$6,553,754$4,500,936$19,598,049
85$23,939,960$6,832,368$4,609,197$21,461,728
86$26,337,976$7,123,294$4,719,746$23,510,556
87$28,979,209$7,427,095$4,832,617$25,763,226
88$31,888,423$7,744,357$4,947,844$28,240,333
89$35,092,906$8,075,695$5,065,461$30,964,560
90$38,622,730$8,421,752$5,185,501$33,960,899
91$42,511,032$8,783,201$5,308,000$37,256,881
92$46,794,328$9,160,749$5,432,988$40,882,835
93$51,512,856$9,555,132$5,560,500$44,872,175
94$56,710,957$9,967,123$5,690,566$49,261,714
95$62,437,494$10,397,531$5,823,219$54,092,007
96$68,746,312$10,847,203$5,958,490$59,407,736
97$75,696,744$11,317,025$6,096,409$65,258,130
98$83,354,178$11,807,925$6,237,004$71,697,426
99$91,790,665$12,320,875$6,380,305$78,785,381
100$101,085,607$12,856,891$6,526,338$86,587,835