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

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 $2,560,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$211,402$209,519$207,682$205,889$204,138$197,445
2 years$104,655$102,706$100,817$98,985$97,209$90,530
3 years$69,077$67,119$65,235$63,421$61,673$55,218
4 years$51,291$49,340$47,474$45,691$43,986$37,803
5 years$40,623$38,683$36,842$35,095$33,437$27,544
6 years$33,513$31,588$29,774$28,066$26,458$20,859
7 years$28,436$26,527$24,742$23,074$21,517$16,212
8 years$24,630$22,739$20,983$19,357$17,851$12,835
9 years$21,672$19,798$18,073$16,488$15,033$10,301
10 years$19,307$17,451$15,756$14,212$12,809$8,353
11 years$17,373$15,536$13,872$12,369$11,016$6,828
12 years$15,762$13,944$12,311$10,849$9,546$5,617
13 years$14,400$12,601$10,999$9,578$8,324$4,645
14 years$13,234$11,454$9,883$8,503$7,297$3,856
15 years$12,224$10,464$8,923$7,583$6,425$3,212
16 years$11,342$9,600$8,090$6,790$5,678$2,683
17 years$10,564$8,841$7,361$6,100$5,035$2,246
18 years$9,873$8,170$6,720$5,498$4,477$1,883
19 years$9,256$7,572$6,152$4,968$3,990$1,582
20 years$8,701$7,036$5,646$4,499$3,564$1,330
21 years$8,199$6,554$5,193$4,083$3,190$1,120
22 years$7,744$6,118$4,786$3,713$2,859$944
23 years$7,329$5,722$4,419$3,381$2,566$796
24 years$6,949$5,361$4,087$3,084$2,307$672
25 years$6,600$5,031$3,785$2,816$2,076$567
26 years$6,278$4,728$3,511$2,575$1,870$479
27 years$5,981$4,450$3,260$2,357$1,686$405
28 years$5,706$4,193$3,031$2,160$1,521$342
29 years$5,450$3,956$2,820$1,980$1,373$289
30 years$5,211$3,736$2,627$1,817$1,241$245
31 years$4,988$3,532$2,449$1,669$1,122$207
32 years$4,780$3,342$2,285$1,534$1,015$175
33 years$4,585$3,164$2,134$1,411$918$148
34 years$4,401$2,999$1,993$1,298$832$125
35 years$4,229$2,845$1,864$1,195$753$106
36 years$4,066$2,700$1,743$1,100$682$90
37 years$3,912$2,564$1,632$1,014$619$76
38 years$3,767$2,437$1,528$935$561$64
39 years$3,630$2,317$1,432$862$509$54
40 years$3,500$2,205$1,342$795$461$46
41 years$3,376$2,099$1,258$733$418$39
42 years$3,259$1,999$1,180$677$380$33
43 years$3,148$1,905$1,108$625$345$28
44 years$3,042$1,815$1,040$577$313$24
45 years$2,941$1,731$976$533$284$20
46 years$2,844$1,651$917$492$258$17
47 years$2,752$1,576$861$455$234$14
48 years$2,664$1,504$809$420$213$12
49 years$2,580$1,437$761$388$193$10
50 years$2,499$1,372$715$359$175$9

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 $5,258 every year, while hoping to spend $37,670 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: 40/45/15 Blend
61$2,560,000$2,560,000$2,560,000$2,560,000
62$2,826,544$2,690,864$2,651,184$2,926,794
63$3,074,770$2,782,635$2,699,918$3,090,177
64$3,347,054$2,877,641$2,749,022$3,262,745
65$3,645,808$2,976,000$2,798,469$3,448,620
66$3,973,692$3,077,836$2,848,229$3,649,028
67$4,333,634$3,183,275$2,898,270$3,865,315
68$4,728,861$3,292,452$2,948,558$4,098,961
69$5,162,927$3,405,504$2,999,057$4,351,592
70$5,639,746$3,522,575$3,049,726$4,624,996
71$6,163,633$3,643,814$3,100,525$4,921,137
72$6,739,338$3,769,375$3,151,407$5,242,177
73$7,372,096$3,899,420$3,202,324$5,590,491
74$8,067,673$4,034,115$3,253,226$5,968,692
75$8,832,424$4,173,635$3,304,057$6,379,655
76$9,673,348$4,318,159$3,354,759$6,826,542
77$10,598,156$4,467,876$3,405,270$7,312,829
78$11,615,345$4,622,979$3,455,525$7,842,346
79$12,734,278$4,783,672$3,505,452$8,419,303
80$13,965,268$4,950,166$3,554,978$9,048,335
81$15,319,679$5,122,679$3,604,024$9,734,543
82$16,810,035$5,301,438$3,652,507$10,483,541
83$18,450,131$5,486,681$3,700,338$11,301,509
84$20,255,168$5,678,652$3,747,424$12,195,248
85$22,241,898$5,877,609$3,793,666$13,172,250
86$24,428,777$6,083,817$3,838,959$14,240,757
87$26,836,141$6,297,553$3,883,192$15,409,849
88$29,486,398$6,519,104$3,926,250$16,689,521
89$32,404,240$6,748,769$3,968,009$18,090,779
90$35,616,874$6,986,860$4,008,339$19,625,743
91$39,154,280$7,233,701$4,047,103$21,307,761
92$43,049,493$7,489,629$4,084,157$23,151,529
93$47,338,914$7,754,993$4,119,349$25,173,238
94$52,062,654$8,030,159$4,152,518$27,390,714
95$57,264,914$8,315,506$4,183,497$29,823,595
96$62,994,398$8,611,429$4,212,107$32,493,508
97$69,304,777$8,918,339$4,238,162$35,424,277
98$76,255,189$9,236,663$4,261,466$38,642,143
99$83,910,806$9,566,846$4,281,813$42,176,010
100$92,343,440$9,909,353$4,298,985$46,057,719