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%16.8%
1 years$209,751$207,882$206,060$204,280$202,543$196,928
2 years$103,837$101,903$100,029$98,212$96,449$90,834
3 years$68,537$66,595$64,725$62,925$61,191$55,752
4 years$50,891$48,954$47,103$45,334$43,642$38,420
5 years$40,305$38,381$36,554$34,821$33,176$28,186
6 years$33,251$31,341$29,541$27,847$26,251$21,497
7 years$28,214$26,320$24,549$22,894$21,349$16,832
8 years$24,438$22,561$20,819$19,205$17,711$13,428
9 years$21,503$19,643$17,932$16,359$14,915$10,863
10 years$19,156$17,315$15,633$14,101$12,709$8,881
11 years$17,237$15,414$13,763$12,272$10,930$7,321
12 years$15,639$13,835$12,215$10,765$9,472$6,075
13 years$14,288$12,503$10,913$9,503$8,259$5,067
14 years$13,131$11,365$9,805$8,436$7,240$4,245
15 years$12,129$10,382$8,853$7,524$6,375$3,568
16 years$11,253$9,525$8,026$6,737$5,634$3,008
17 years$10,481$8,772$7,304$6,053$4,996$2,542
18 years$9,796$8,106$6,667$5,455$4,442$2,153
19 years$9,183$7,513$6,104$4,929$3,959$1,826
20 years$8,633$6,981$5,602$4,464$3,536$1,551
21 years$8,135$6,503$5,152$4,051$3,165$1,319
22 years$7,683$6,070$4,749$3,684$2,837$1,123
23 years$7,272$5,677$4,385$3,355$2,546$957
24 years$6,895$5,319$4,055$3,060$2,289$816
25 years$6,549$4,992$3,756$2,794$2,059$696
26 years$6,229$4,691$3,483$2,555$1,855$594
27 years$5,934$4,415$3,235$2,339$1,673$507
28 years$5,661$4,160$3,007$2,143$1,509$433
29 years$5,407$3,925$2,798$1,965$1,363$370
30 years$5,170$3,707$2,606$1,803$1,231$317
31 years$4,949$3,504$2,430$1,656$1,113$271
32 years$4,743$3,315$2,267$1,522$1,007$231
33 years$4,549$3,140$2,117$1,400$911$198
34 years$4,367$2,976$1,978$1,288$825$169
35 years$4,195$2,822$1,849$1,185$747$145
36 years$4,034$2,679$1,730$1,092$677$124
37 years$3,882$2,544$1,619$1,006$614$106
38 years$3,738$2,418$1,516$927$556$91
39 years$3,602$2,299$1,421$855$505$78
40 years$3,473$2,188$1,331$789$458$66
41 years$3,350$2,082$1,248$728$415$57
42 years$3,234$1,983$1,171$671$377$49
43 years$3,123$1,890$1,099$620$342$42
44 years$3,018$1,801$1,032$572$310$36
45 years$2,918$1,718$969$529$282$31
46 years$2,822$1,639$910$488$256$26
47 years$2,731$1,564$855$451$232$22
48 years$2,643$1,493$803$417$211$19
49 years$2,560$1,425$755$385$192$16
50 years$2,480$1,362$710$356$174$14

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 $5,129 every year, while hoping to spend $53,013 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: 25/48/27 Blend
61$2,540,000$2,540,000$2,540,000$2,540,000
62$2,804,371$2,669,751$2,630,381$2,850,564
63$3,034,011$2,744,163$2,662,093$2,963,730
64$3,285,298$2,820,445$2,693,091$3,080,122
65$3,560,383$2,898,632$2,723,294$3,203,811
66$3,861,637$2,978,759$2,752,619$3,335,445
67$4,191,669$3,060,863$2,780,977$3,475,736
68$4,553,352$3,144,978$2,808,273$3,625,467
69$4,949,852$3,231,141$2,834,408$3,785,501
70$5,384,655$3,319,385$2,859,279$3,956,786
71$5,861,601$3,409,745$2,882,775$4,140,367
72$6,384,917$3,502,256$2,904,782$4,337,395
73$6,959,264$3,596,951$2,925,177$4,549,136
74$7,589,770$3,693,864$2,943,832$4,776,984
75$8,282,089$3,793,026$2,960,613$5,022,476
76$9,042,447$3,894,469$2,975,378$5,287,303
77$9,877,703$3,998,223$2,987,979$5,573,329
78$10,795,411$4,104,319$2,998,259$5,882,607
79$11,803,897$4,212,784$3,006,054$6,217,399
80$12,912,329$4,323,646$3,011,192$6,580,196
81$14,130,812$4,436,929$3,013,492$6,973,745
82$15,470,474$4,552,659$3,012,764$7,401,071
83$16,943,580$4,670,856$3,008,809$7,865,509
84$18,563,638$4,791,541$3,001,417$8,370,731
85$20,345,534$4,914,732$2,990,369$8,920,788
86$22,305,669$5,040,444$2,975,437$9,520,140
87$24,462,111$5,168,689$2,956,378$10,173,707
88$26,834,770$5,299,479$2,932,940$10,886,907
89$29,445,582$5,432,819$2,904,860$11,665,713
90$32,318,718$5,568,714$2,871,859$12,516,710
91$35,480,809$5,707,162$2,833,647$13,447,153
92$38,961,198$5,848,160$2,789,922$14,465,040
93$42,792,220$5,991,700$2,740,364$15,579,187
94$47,009,501$6,137,767$2,684,641$16,799,308
95$51,652,298$6,286,346$2,622,403$18,136,113
96$56,763,866$6,437,410$2,553,288$19,601,407
97$62,391,870$6,590,933$2,476,913$21,208,198
98$68,588,831$6,746,878$2,392,879$22,970,829
99$75,412,620$6,905,204$2,300,769$24,905,106
100$82,927,009$7,065,861$2,200,147$27,028,451