Can I retire at age 62 with 2,560,000?

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 $2,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$211,402$209,519$207,682$205,889$204,138$199,935
2 years$104,655$102,706$100,817$98,985$97,209$92,993
3 years$69,077$67,119$65,235$63,421$61,673$57,577
4 years$51,291$49,340$47,474$45,691$43,986$40,040
5 years$40,623$38,683$36,842$35,095$33,437$29,653
6 years$33,513$31,588$29,774$28,066$26,458$22,840
7 years$28,436$26,527$24,742$23,074$21,517$18,066
8 years$24,630$22,739$20,983$19,357$17,851$14,565
9 years$21,672$19,798$18,073$16,488$15,033$11,911
10 years$19,307$17,451$15,756$14,212$12,809$9,847
11 years$17,373$15,536$13,872$12,369$11,016$8,211
12 years$15,762$13,944$12,311$10,849$9,546$6,894
13 years$14,400$12,601$10,999$9,578$8,324$5,820
14 years$13,234$11,454$9,883$8,503$7,297$4,936
15 years$12,224$10,464$8,923$7,583$6,425$4,202
16 years$11,342$9,600$8,090$6,790$5,678$3,588
17 years$10,564$8,841$7,361$6,100$5,035$3,072
18 years$9,873$8,170$6,720$5,498$4,477$2,636
19 years$9,256$7,572$6,152$4,968$3,990$2,267
20 years$8,701$7,036$5,646$4,499$3,564$1,952
21 years$8,199$6,554$5,193$4,083$3,190$1,683
22 years$7,744$6,118$4,786$3,713$2,859$1,453
23 years$7,329$5,722$4,419$3,381$2,566$1,255
24 years$6,949$5,361$4,087$3,084$2,307$1,086
25 years$6,600$5,031$3,785$2,816$2,076$940
26 years$6,278$4,728$3,511$2,575$1,870$814
27 years$5,981$4,450$3,260$2,357$1,686$705
28 years$5,706$4,193$3,031$2,160$1,521$611
29 years$5,450$3,956$2,820$1,980$1,373$530
30 years$5,211$3,736$2,627$1,817$1,241$460
31 years$4,988$3,532$2,449$1,669$1,122$399
32 years$4,780$3,342$2,285$1,534$1,015$346
33 years$4,585$3,164$2,134$1,411$918$301
34 years$4,401$2,999$1,993$1,298$832$261
35 years$4,229$2,845$1,864$1,195$753$227
36 years$4,066$2,700$1,743$1,100$682$197
37 years$3,912$2,564$1,632$1,014$619$171
38 years$3,767$2,437$1,528$935$561$149
39 years$3,630$2,317$1,432$862$509$129
40 years$3,500$2,205$1,342$795$461$112
41 years$3,376$2,099$1,258$733$418$98
42 years$3,259$1,999$1,180$677$380$85
43 years$3,148$1,905$1,108$625$345$74
44 years$3,042$1,815$1,040$577$313$64
45 years$2,941$1,731$976$533$284$56
46 years$2,844$1,651$917$492$258$48
47 years$2,752$1,576$861$455$234$42
48 years$2,664$1,504$809$420$213$37
49 years$2,580$1,437$761$388$193$32
50 years$2,499$1,372$715$359$175$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,560,000, adding $5,583 every year, while hoping to spend $29,977 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: 65/27/8 Blend
61$2,560,000$2,560,000$2,560,000$2,560,000
62$2,826,879$2,691,199$2,651,519$3,005,876
63$3,083,325$2,791,172$2,708,449$3,225,686
64$3,364,924$2,895,040$2,766,283$3,461,678
65$3,674,210$3,002,960$2,825,017$3,718,728
66$4,013,974$3,115,100$2,884,649$3,998,880
67$4,387,292$3,231,632$2,945,177$4,304,388
68$4,797,550$3,352,737$3,006,595$4,637,728
69$5,248,482$3,478,602$3,068,897$5,001,627
70$5,744,198$3,609,425$3,132,077$5,399,084
71$6,289,229$3,745,409$3,196,124$5,833,403
72$6,888,566$3,886,770$3,261,029$6,308,218
73$7,547,706$4,033,728$3,326,781$6,827,529
74$8,272,709$4,186,518$3,393,365$7,395,741
75$9,070,250$4,345,381$3,460,767$8,017,703
76$9,947,681$4,510,571$3,528,969$8,698,752
77$10,913,107$4,682,352$3,597,951$9,444,768
78$11,975,456$4,860,998$3,667,694$10,262,220
79$13,144,564$5,046,799$3,738,174$11,158,235
80$14,431,271$5,240,054$3,809,364$12,140,660
81$15,847,520$5,441,075$3,881,237$13,218,137
82$17,406,470$5,650,192$3,953,762$14,400,182
83$19,122,622$5,867,743$4,026,905$15,697,275
84$21,011,954$6,094,087$4,100,631$17,120,960
85$23,092,070$6,329,594$4,174,899$18,683,949
86$25,382,371$6,574,653$4,249,667$20,400,245
87$27,904,231$6,829,670$4,324,890$22,285,270
88$30,681,207$7,095,068$4,400,518$24,356,013
89$33,739,252$7,371,289$4,476,498$26,631,186
90$37,106,968$7,658,794$4,552,772$29,131,403
91$40,815,870$7,958,066$4,629,281$31,879,368
92$44,900,685$8,269,608$4,705,959$34,900,096
93$49,399,682$8,593,946$4,782,735$38,221,141
94$54,355,029$8,931,629$4,859,537$41,872,857
95$59,813,194$9,283,230$4,936,283$45,888,686
96$65,825,381$9,649,350$5,012,890$50,305,468
97$72,448,015$10,030,613$5,089,267$55,163,791
98$79,743,274$10,427,675$5,165,318$60,508,370
99$87,779,675$10,841,217$5,240,943$66,388,469
100$96,632,720$11,271,955$5,316,033$72,858,363