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%17.9%
1 years$211,402$209,519$207,682$205,889$204,138$197,603
2 years$104,655$102,706$100,817$98,985$97,209$90,685
3 years$69,077$67,119$65,235$63,421$61,673$55,366
4 years$51,291$49,340$47,474$45,691$43,986$37,943
5 years$40,623$38,683$36,842$35,095$33,437$27,675
6 years$33,513$31,588$29,774$28,066$26,458$20,981
7 years$28,436$26,527$24,742$23,074$21,517$16,325
8 years$24,630$22,739$20,983$19,357$17,851$12,940
9 years$21,672$19,798$18,073$16,488$15,033$10,398
10 years$19,307$17,451$15,756$14,212$12,809$8,442
11 years$17,373$15,536$13,872$12,369$11,016$6,910
12 years$15,762$13,944$12,311$10,849$9,546$5,692
13 years$14,400$12,601$10,999$9,578$8,324$4,713
14 years$13,234$11,454$9,883$8,503$7,297$3,918
15 years$12,224$10,464$8,923$7,583$6,425$3,268
16 years$11,342$9,600$8,090$6,790$5,678$2,734
17 years$10,564$8,841$7,361$6,100$5,035$2,292
18 years$9,873$8,170$6,720$5,498$4,477$1,925
19 years$9,256$7,572$6,152$4,968$3,990$1,619
20 years$8,701$7,036$5,646$4,499$3,564$1,364
21 years$8,199$6,554$5,193$4,083$3,190$1,150
22 years$7,744$6,118$4,786$3,713$2,859$971
23 years$7,329$5,722$4,419$3,381$2,566$820
24 years$6,949$5,361$4,087$3,084$2,307$693
25 years$6,600$5,031$3,785$2,816$2,076$586
26 years$6,278$4,728$3,511$2,575$1,870$496
27 years$5,981$4,450$3,260$2,357$1,686$420
28 years$5,706$4,193$3,031$2,160$1,521$355
29 years$5,450$3,956$2,820$1,980$1,373$301
30 years$5,211$3,736$2,627$1,817$1,241$255
31 years$4,988$3,532$2,449$1,669$1,122$216
32 years$4,780$3,342$2,285$1,534$1,015$183
33 years$4,585$3,164$2,134$1,411$918$155
34 years$4,401$2,999$1,993$1,298$832$131
35 years$4,229$2,845$1,864$1,195$753$111
36 years$4,066$2,700$1,743$1,100$682$94
37 years$3,912$2,564$1,632$1,014$619$80
38 years$3,767$2,437$1,528$935$561$68
39 years$3,630$2,317$1,432$862$509$58
40 years$3,500$2,205$1,342$795$461$49
41 years$3,376$2,099$1,258$733$418$41
42 years$3,259$1,999$1,180$677$380$35
43 years$3,148$1,905$1,108$625$345$30
44 years$3,042$1,815$1,040$577$313$25
45 years$2,941$1,731$976$533$284$21
46 years$2,844$1,651$917$492$258$18
47 years$2,752$1,576$861$455$234$15
48 years$2,664$1,504$809$420$213$13
49 years$2,580$1,437$761$388$193$11
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 $5,158 every year, while hoping to spend $46,866 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: 52/33/15 Blend
61$2,560,000$2,560,000$2,560,000$2,560,000
62$2,826,440$2,690,760$2,651,080$2,961,713
63$3,064,872$2,772,743$2,690,027$3,136,858
64$3,326,054$2,857,171$2,728,707$3,321,865
65$3,612,255$2,944,117$2,767,062$3,522,034
66$3,925,978$3,033,651$2,805,032$3,738,814
67$4,269,976$3,125,849$2,842,549$3,973,799
68$4,647,284$3,220,786$2,879,545$4,228,743
69$5,061,244$3,318,541$2,915,946$4,505,578
70$5,515,535$3,419,194$2,951,675$4,806,427
71$6,014,212$3,522,827$2,986,648$5,133,630
72$6,561,741$3,629,525$3,020,781$5,489,763
73$7,163,042$3,739,375$3,053,980$5,877,660
74$7,823,534$3,852,465$3,086,150$6,300,443
75$8,549,186$3,968,888$3,117,188$6,761,548
76$9,346,576$4,088,737$3,146,986$7,264,761
77$10,222,949$4,212,107$3,175,433$7,814,250
78$11,186,287$4,339,098$3,202,407$8,414,603
79$12,245,385$4,469,810$3,227,784$9,070,876
80$13,409,930$4,604,346$3,251,431$9,788,638
81$14,690,598$4,742,814$3,273,209$10,574,019
82$16,099,149$4,885,322$3,292,971$11,433,774
83$17,648,540$5,031,981$3,310,564$12,375,344
84$19,353,049$5,182,906$3,325,826$13,406,924
85$21,228,405$5,338,213$3,338,586$14,537,542
86$23,291,940$5,498,023$3,348,665$15,777,145
87$25,562,749$5,662,458$3,355,878$17,136,688
88$28,061,875$5,831,644$3,360,025$18,628,243
89$30,812,501$6,005,709$3,360,900$20,265,106
90$33,840,172$6,184,785$3,358,287$22,061,930
91$37,173,038$6,369,007$3,351,957$24,034,855
92$40,842,112$6,558,513$3,341,672$26,201,666
93$44,881,570$6,753,443$3,327,181$28,581,957
94$49,329,071$6,953,943$3,308,222$31,197,316
95$54,226,109$7,160,158$3,284,520$34,071,531
96$59,618,406$7,372,240$3,255,786$37,230,810
97$65,556,347$7,590,344$3,221,718$40,704,031
98$72,095,450$7,814,625$3,182,001$44,523,015
99$79,296,889$8,045,246$3,136,302$48,722,823
100$87,228,079$8,282,370$3,084,274$53,342,088