Can I retire at age 62 with 2,590,000?

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 $2,590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$213,880$211,975$210,116$208,302$206,530$205,574
2 years$105,881$103,909$101,998$100,145$98,348$97,382
3 years$69,886$67,906$65,999$64,164$62,396$61,451
4 years$51,892$49,918$48,031$46,226$44,501$43,585
5 years$41,099$39,136$37,274$35,506$33,829$32,943
6 years$33,905$31,958$30,123$28,395$26,768$25,914
7 years$28,769$26,838$25,032$23,345$21,769$20,948
8 years$24,919$23,005$21,229$19,583$18,060$17,271
9 years$21,926$20,030$18,285$16,681$15,209$14,453
10 years$19,533$17,656$15,941$14,379$12,959$12,235
11 years$17,576$15,718$14,034$12,514$11,145$10,452
12 years$15,947$14,107$12,455$10,976$9,658$8,996
13 years$14,569$12,749$11,128$9,691$8,422$7,791
14 years$13,389$11,588$9,998$8,602$7,383$6,781
15 years$12,368$10,586$9,027$7,672$6,500$5,927
16 years$11,475$9,713$8,184$6,869$5,745$5,200
17 years$10,688$8,945$7,448$6,172$5,094$4,577
18 years$9,989$8,266$6,799$5,562$4,529$4,038
19 years$9,364$7,660$6,224$5,026$4,037$3,572
20 years$8,803$7,118$5,712$4,552$3,606$3,165
21 years$8,295$6,631$5,254$4,131$3,227$2,810
22 years$7,835$6,189$4,842$3,756$2,892$2,499
23 years$7,415$5,789$4,471$3,421$2,596$2,225
24 years$7,030$5,424$4,135$3,120$2,334$1,983
25 years$6,677$5,090$3,830$2,849$2,100$1,770
26 years$6,352$4,784$3,552$2,605$1,892$1,581
27 years$6,051$4,502$3,298$2,385$1,705$1,413
28 years$5,773$4,242$3,066$2,185$1,539$1,264
29 years$5,513$4,002$2,853$2,004$1,390$1,131
30 years$5,272$3,780$2,658$1,839$1,256$1,013
31 years$5,047$3,573$2,478$1,689$1,135$908
32 years$4,836$3,381$2,312$1,552$1,027$814
33 years$4,638$3,202$2,159$1,427$929$730
34 years$4,453$3,034$2,017$1,313$841$655
35 years$4,278$2,878$1,886$1,209$762$588
36 years$4,114$2,732$1,764$1,113$690$528
37 years$3,958$2,594$1,651$1,026$626$474
38 years$3,811$2,466$1,546$945$567$426
39 years$3,673$2,345$1,448$872$514$383
40 years$3,541$2,231$1,358$804$467$344
41 years$3,416$2,123$1,273$742$423$309
42 years$3,297$2,022$1,194$685$384$278
43 years$3,185$1,927$1,121$632$349$250
44 years$3,077$1,837$1,052$584$316$224
45 years$2,975$1,751$988$539$287$202
46 years$2,877$1,671$928$498$261$182
47 years$2,784$1,594$871$460$237$163
48 years$2,695$1,522$819$425$215$147
49 years$2,610$1,454$770$393$195$132
50 years$2,529$1,388$724$363$177$119

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,590,000, adding $5,410 every year, while hoping to spend $48,764 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: 68/23/9 Blend
61$2,590,000$2,590,000$2,590,000$2,590,000
62$2,859,760$2,722,490$2,682,345$3,048,877
63$3,099,571$2,804,008$2,720,319$3,256,588
64$3,362,209$2,887,885$2,757,931$3,477,271
65$3,649,949$2,974,187$2,795,117$3,717,314
66$3,965,301$3,062,979$2,831,810$3,978,606
67$4,311,024$3,154,327$2,867,938$4,263,228
68$4,690,161$3,248,302$2,903,427$4,573,467
69$5,106,061$3,344,972$2,938,195$4,911,843
70$5,562,414$3,444,411$2,972,160$5,281,132
71$6,063,285$3,546,692$3,005,232$5,684,387
72$6,613,150$3,651,890$3,037,317$6,124,975
73$7,216,941$3,760,082$3,068,317$6,606,599
74$7,880,090$3,871,346$3,098,126$7,133,340
75$8,608,581$3,985,764$3,126,635$7,709,692
76$9,409,007$4,103,417$3,153,728$8,340,604
77$10,288,630$4,224,390$3,179,283$9,031,527
78$11,255,452$4,348,766$3,203,170$9,788,466
79$12,318,288$4,476,635$3,225,256$10,618,035
80$13,486,848$4,608,085$3,245,397$11,527,520
81$14,771,832$4,743,207$3,263,443$12,524,947
82$16,185,028$4,882,094$3,279,238$13,619,157
83$17,739,424$5,024,839$3,292,616$14,819,890
84$19,449,330$5,171,541$3,303,403$16,137,878
85$21,330,511$5,322,296$3,311,416$17,584,940
86$23,400,339$5,477,204$3,316,465$19,174,101
87$25,677,955$5,636,368$3,318,347$20,919,710
88$28,184,446$5,799,891$3,316,852$22,837,577
89$30,943,051$5,967,877$3,311,758$24,945,118
90$33,979,373$6,140,434$3,302,833$27,261,525
91$37,321,625$6,317,670$3,289,833$29,807,943
92$41,000,891$6,499,696$3,272,503$32,607,669
93$45,051,424$6,686,624$3,250,574$35,686,373
94$49,510,968$6,878,567$3,223,767$39,072,340
95$54,421,111$7,075,641$3,191,787$42,796,736
96$59,827,679$7,277,962$3,154,327$46,893,901
97$65,781,169$7,485,649$3,111,064$51,401,673
98$72,337,224$7,698,821$3,061,660$56,361,747
99$79,557,157$7,917,600$3,005,762$61,820,066
100$87,508,531$8,142,107$2,942,999$67,827,255