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%11.6%
1 years$213,880$211,975$210,116$208,302$206,530$205,143
2 years$105,881$103,909$101,998$100,145$98,348$96,948
3 years$69,886$67,906$65,999$64,164$62,396$61,028
4 years$51,892$49,918$48,031$46,226$44,501$43,175
5 years$41,099$39,136$37,274$35,506$33,829$32,549
6 years$33,905$31,958$30,123$28,395$26,768$25,535
7 years$28,769$26,838$25,032$23,345$21,769$20,585
8 years$24,919$23,005$21,229$19,583$18,060$16,924
9 years$21,926$20,030$18,285$16,681$15,209$14,121
10 years$19,533$17,656$15,941$14,379$12,959$11,918
11 years$17,576$15,718$14,034$12,514$11,145$10,151
12 years$15,947$14,107$12,455$10,976$9,658$8,710
13 years$14,569$12,749$11,128$9,691$8,422$7,518
14 years$13,389$11,588$9,998$8,602$7,383$6,523
15 years$12,368$10,586$9,027$7,672$6,500$5,683
16 years$11,475$9,713$8,184$6,869$5,745$4,969
17 years$10,688$8,945$7,448$6,172$5,094$4,358
18 years$9,989$8,266$6,799$5,562$4,529$3,832
19 years$9,364$7,660$6,224$5,026$4,037$3,377
20 years$8,803$7,118$5,712$4,552$3,606$2,982
21 years$8,295$6,631$5,254$4,131$3,227$2,638
22 years$7,835$6,189$4,842$3,756$2,892$2,337
23 years$7,415$5,789$4,471$3,421$2,596$2,073
24 years$7,030$5,424$4,135$3,120$2,334$1,840
25 years$6,677$5,090$3,830$2,849$2,100$1,636
26 years$6,352$4,784$3,552$2,605$1,892$1,456
27 years$6,051$4,502$3,298$2,385$1,705$1,296
28 years$5,773$4,242$3,066$2,185$1,539$1,155
29 years$5,513$4,002$2,853$2,004$1,390$1,030
30 years$5,272$3,780$2,658$1,839$1,256$918
31 years$5,047$3,573$2,478$1,689$1,135$820
32 years$4,836$3,381$2,312$1,552$1,027$732
33 years$4,638$3,202$2,159$1,427$929$654
34 years$4,453$3,034$2,017$1,313$841$584
35 years$4,278$2,878$1,886$1,209$762$522
36 years$4,114$2,732$1,764$1,113$690$467
37 years$3,958$2,594$1,651$1,026$626$417
38 years$3,811$2,466$1,546$945$567$373
39 years$3,673$2,345$1,448$872$514$334
40 years$3,541$2,231$1,358$804$467$299
41 years$3,416$2,123$1,273$742$423$267
42 years$3,297$2,022$1,194$685$384$239
43 years$3,185$1,927$1,121$632$349$214
44 years$3,077$1,837$1,052$584$316$192
45 years$2,975$1,751$988$539$287$172
46 years$2,877$1,671$928$498$261$154
47 years$2,784$1,594$871$460$237$138
48 years$2,695$1,522$819$425$215$123
49 years$2,610$1,454$770$393$195$110
50 years$2,529$1,388$724$363$177$99

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 $3,631 every year, while hoping to spend $30,942 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: 36/49/15 Blend
61$2,590,000$2,590,000$2,590,000$2,590,000
62$2,857,925$2,720,655$2,680,510$2,947,540
63$3,116,512$2,821,045$2,737,385$3,112,956
64$3,400,437$2,925,318$2,795,129$3,288,212
65$3,712,253$3,033,629$2,853,737$3,476,745
66$4,054,770$3,146,145$2,913,205$3,679,754
67$4,431,086$3,263,036$2,973,527$3,898,555
68$4,844,613$3,384,480$3,034,695$4,134,593
69$5,299,108$3,510,664$3,096,702$4,389,452
70$5,798,712$3,641,782$3,159,537$4,664,875
71$6,347,988$3,778,036$3,223,189$4,962,772
72$6,951,961$3,919,638$3,287,644$5,285,244
73$7,616,167$4,066,807$3,352,887$5,634,599
74$8,346,709$4,219,774$3,418,901$6,013,373
75$9,150,308$4,378,777$3,485,668$6,424,352
76$10,034,369$4,544,066$3,553,168$6,870,600
77$11,007,052$4,715,903$3,621,376$7,355,485
78$12,077,348$4,894,559$3,690,269$7,882,709
79$13,255,162$5,080,318$3,759,818$8,456,344
80$14,551,411$5,273,475$3,829,994$9,080,867
81$15,978,120$5,474,340$3,900,764$9,761,204
82$17,548,540$5,683,235$3,972,092$10,502,773
83$19,277,275$5,900,497$4,043,940$11,311,532
84$21,180,411$6,126,476$4,116,267$12,194,039
85$23,275,679$6,361,539$4,189,027$13,157,509
86$25,582,612$6,606,068$4,262,174$14,209,880
87$28,122,736$6,860,463$4,335,654$15,359,890
88$30,919,770$7,125,141$4,409,413$16,617,154
89$33,999,849$7,400,535$4,483,391$17,992,256
90$37,391,774$7,687,102$4,557,525$19,496,843
91$41,127,279$7,985,314$4,631,746$21,143,740
92$45,241,334$8,295,667$4,705,982$22,947,064
93$49,772,474$8,618,678$4,780,156$24,922,355
94$54,763,160$8,954,887$4,854,186$27,086,725
95$60,260,184$9,304,859$4,927,983$29,459,011
96$66,315,107$9,669,181$5,001,454$32,059,959
97$72,984,746$10,048,469$5,074,501$34,912,410
98$80,331,711$10,443,365$5,147,018$38,041,517
99$88,424,997$10,854,540$5,218,894$41,474,978
100$97,340,630$11,282,696$5,290,010$45,243,297