Can I retire at age 62 with 2,580,000?

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 $2,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$213,054$211,156$209,305$207,497$205,733$200,272
2 years$105,472$103,508$101,604$99,758$97,968$92,504
3 years$69,616$67,644$65,745$63,916$62,155$56,859
4 years$51,692$49,725$47,845$46,048$44,329$39,243
5 years$40,940$38,985$37,130$35,369$33,699$28,835
6 years$33,775$31,834$30,006$28,285$26,664$22,029
7 years$28,658$26,734$24,936$23,255$21,685$17,277
8 years$24,823$22,916$21,147$19,508$17,990$13,808
9 years$21,841$19,953$18,214$16,616$15,150$11,190
10 years$19,457$17,587$15,880$14,323$12,909$9,166
11 years$17,508$15,657$13,980$12,466$11,102$7,570
12 years$15,885$14,053$12,407$10,934$9,621$6,294
13 years$14,513$12,700$11,085$9,653$8,389$5,260
14 years$13,338$11,544$9,960$8,569$7,354$4,416
15 years$12,320$10,545$8,992$7,642$6,475$3,720
16 years$11,430$9,675$8,153$6,843$5,723$3,143
17 years$10,646$8,910$7,419$6,148$5,074$2,662
18 years$9,950$8,234$6,772$5,541$4,512$2,259
19 years$9,328$7,631$6,200$5,006$4,021$1,921
20 years$8,769$7,091$5,690$4,534$3,592$1,635
21 years$8,263$6,605$5,234$4,115$3,214$1,394
22 years$7,804$6,166$4,824$3,742$2,881$1,189
23 years$7,386$5,766$4,454$3,408$2,586$1,016
24 years$7,003$5,403$4,119$3,108$2,325$868
25 years$6,652$5,070$3,815$2,838$2,092$742
26 years$6,328$4,765$3,538$2,595$1,884$635
27 years$6,028$4,485$3,285$2,375$1,699$544
28 years$5,750$4,226$3,054$2,176$1,533$466
29 years$5,492$3,987$2,842$1,996$1,384$399
30 years$5,252$3,765$2,647$1,832$1,251$342
31 years$5,027$3,559$2,468$1,682$1,131$293
32 years$4,817$3,368$2,303$1,546$1,023$251
33 years$4,620$3,189$2,150$1,422$926$215
34 years$4,436$3,023$2,009$1,308$838$185
35 years$4,262$2,867$1,878$1,204$759$158
36 years$4,098$2,721$1,757$1,109$688$136
37 years$3,943$2,584$1,645$1,022$623$117
38 years$3,797$2,456$1,540$942$565$100
39 years$3,658$2,336$1,443$868$512$86
40 years$3,527$2,222$1,352$801$465$74
41 years$3,403$2,115$1,268$739$422$63
42 years$3,285$2,014$1,190$682$383$54
43 years$3,172$1,919$1,116$630$347$47
44 years$3,065$1,830$1,048$581$315$40
45 years$2,963$1,745$984$537$286$34
46 years$2,866$1,664$924$496$260$29
47 years$2,774$1,588$868$458$236$25
48 years$2,685$1,516$816$423$214$22
49 years$2,600$1,448$767$391$195$19
50 years$2,519$1,383$721$362$177$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,580,000, adding $5,763 every year, while hoping to spend $47,132 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: 55/19/26 Blend
61$2,580,000$2,580,000$2,580,000$2,580,000
62$2,849,105$2,712,365$2,672,375$2,985,097
63$3,089,565$2,795,122$2,711,751$3,162,073
64$3,352,973$2,880,356$2,750,867$3,349,340
65$3,641,619$2,968,136$2,789,664$3,552,330
66$3,958,026$3,058,537$2,828,080$3,772,569
67$4,304,973$3,151,633$2,866,049$4,011,740
68$4,685,521$3,247,503$2,903,501$4,271,694
69$5,103,039$3,346,226$2,940,364$4,554,471
70$5,561,242$3,447,884$2,976,559$4,862,316
71$6,064,219$3,552,561$3,012,004$5,197,703
72$6,616,475$3,660,342$3,046,611$5,563,357
73$7,222,972$3,771,316$3,080,290$5,962,278
74$7,889,178$3,885,573$3,112,943$6,397,772
75$8,621,116$4,003,207$3,144,468$6,873,480
76$9,425,419$4,124,314$3,174,757$7,393,415
77$10,309,397$4,248,991$3,203,696$7,961,995
78$11,281,102$4,377,338$3,231,167$8,584,089
79$12,349,406$4,509,459$3,257,042$9,265,060
80$13,524,082$4,645,459$3,281,190$10,010,819
81$14,815,899$4,785,447$3,303,470$10,827,875
82$16,236,721$4,929,534$3,323,736$11,723,403
83$17,799,618$5,077,833$3,341,834$12,705,307
84$19,518,994$5,230,461$3,357,600$13,782,295
85$21,410,716$5,387,539$3,370,864$14,963,964
86$23,492,269$5,549,188$3,381,448$16,260,887
87$25,782,917$5,715,534$3,389,163$17,684,715
88$28,303,885$5,886,706$3,393,810$19,248,286
89$31,078,562$6,062,836$3,395,184$20,965,745
90$34,132,718$6,244,057$3,393,065$22,852,681
91$37,494,748$6,430,509$3,387,226$24,926,271
92$41,195,941$6,622,333$3,377,426$27,205,442
93$45,270,773$6,819,673$3,363,416$29,711,052
94$49,757,232$7,022,677$3,344,931$32,466,086
95$54,697,178$7,231,497$3,321,694$35,495,870
96$60,136,737$7,446,287$3,293,418$38,828,314
97$66,126,736$7,667,206$3,259,799$42,494,175
98$72,723,179$7,894,416$3,220,519$46,527,346
99$79,987,783$8,128,082$3,175,246$50,965,176
100$87,988,552$8,368,373$3,123,632$55,848,823