Can I retire at age 62 with 2,610,000?

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 $2,610,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$215,531$213,612$211,738$209,910$208,125$204,257
2 years$106,699$104,712$102,786$100,918$99,107$95,225
3 years$70,426$68,430$66,509$64,659$62,878$59,102
4 years$52,293$50,303$48,402$46,583$44,845$41,205
5 years$41,416$39,438$37,562$35,781$34,090$30,596
6 years$34,167$32,204$30,355$28,614$26,975$23,630
7 years$28,992$27,045$25,225$23,525$21,938$18,744
8 years$25,112$23,183$21,393$19,735$18,199$15,156
9 years$22,095$20,185$18,426$16,810$15,326$12,431
10 years$19,684$17,792$16,064$14,490$13,059$10,309
11 years$17,712$15,839$14,143$12,611$11,231$8,623
12 years$16,070$14,216$12,551$11,061$9,733$7,263
13 years$14,682$12,847$11,214$9,765$8,487$6,152
14 years$13,493$11,678$10,076$8,669$7,440$5,236
15 years$12,463$10,668$9,097$7,731$6,550$4,472
16 years$11,563$9,788$8,248$6,922$5,789$3,833
17 years$10,770$9,014$7,505$6,220$5,133$3,293
18 years$10,066$8,329$6,851$5,605$4,564$2,836
19 years$9,436$7,720$6,272$5,065$4,068$2,448
20 years$8,871$7,173$5,756$4,587$3,634$2,115
21 years$8,359$6,682$5,294$4,163$3,252$1,831
22 years$7,895$6,237$4,880$3,785$2,915$1,587
23 years$7,472$5,834$4,505$3,447$2,617$1,376
24 years$7,085$5,466$4,167$3,144$2,352$1,195
25 years$6,729$5,129$3,859$2,871$2,116$1,038
26 years$6,401$4,821$3,579$2,625$1,906$903
27 years$6,098$4,537$3,324$2,403$1,719$786
28 years$5,817$4,275$3,090$2,202$1,551$684
29 years$5,556$4,033$2,875$2,019$1,400$595
30 years$5,313$3,809$2,678$1,853$1,265$519
31 years$5,086$3,600$2,497$1,702$1,144$452
32 years$4,873$3,407$2,330$1,564$1,035$394
33 years$4,674$3,226$2,175$1,438$936$344
34 years$4,487$3,058$2,032$1,323$848$300
35 years$4,311$2,900$1,900$1,218$768$261
36 years$4,145$2,753$1,778$1,122$696$228
37 years$3,989$2,615$1,664$1,034$631$199
38 years$3,841$2,485$1,558$953$572$174
39 years$3,701$2,363$1,460$879$518$151
40 years$3,568$2,248$1,368$810$470$132
41 years$3,442$2,140$1,283$748$427$115
42 years$3,323$2,038$1,203$690$387$101
43 years$3,209$1,942$1,129$637$351$88
44 years$3,101$1,851$1,060$588$319$77
45 years$2,998$1,765$995$543$290$67
46 years$2,900$1,684$935$502$263$59
47 years$2,806$1,607$878$463$239$51
48 years$2,716$1,534$825$428$217$45
49 years$2,630$1,465$776$396$197$39
50 years$2,548$1,399$729$366$179$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,610,000, adding $6,516 every year, while hoping to spend $39,142 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: 45/35/20 Blend
61$2,610,000$2,610,000$2,610,000$2,610,000
62$2,882,941$2,744,611$2,704,156$2,995,815
63$3,135,354$2,837,450$2,753,099$3,168,563
64$3,412,202$2,933,527$2,802,369$3,351,401
65$3,715,935$3,032,958$2,851,936$3,548,868
66$4,049,252$3,135,865$2,901,769$3,762,341
67$4,415,129$3,242,375$2,951,830$3,993,332
68$4,816,839$3,352,619$3,002,084$4,243,507
69$5,257,992$3,466,732$3,052,489$4,514,698
70$5,742,563$3,584,858$3,103,003$4,808,917
71$6,274,929$3,707,141$3,153,579$5,128,382
72$6,859,916$3,833,735$3,204,168$5,475,530
73$7,502,837$3,964,798$3,254,717$5,853,044
74$8,209,548$4,100,494$3,305,171$6,263,876
75$8,986,497$4,240,993$3,355,470$6,711,275
76$9,840,792$4,386,474$3,405,550$7,198,817
77$10,780,262$4,537,120$3,455,345$7,730,440
78$11,813,532$4,693,123$3,504,783$8,310,475
79$12,950,107$4,854,681$3,553,788$8,943,694
80$14,200,458$5,022,000$3,602,280$9,635,348
81$15,576,122$5,195,296$3,650,174$10,391,219
82$17,089,812$5,374,790$3,697,379$11,217,677
83$18,755,532$5,560,715$3,743,801$12,121,730
84$20,588,717$5,753,310$3,789,339$13,111,101
85$22,606,371$5,952,827$3,833,886$14,194,291
86$24,827,229$6,159,524$3,877,330$15,380,664
87$27,271,938$6,373,672$3,919,553$16,680,534
88$29,963,246$6,595,552$3,960,428$18,105,258
89$32,926,219$6,825,456$3,999,823$19,667,347
90$36,188,476$7,063,686$4,037,601$21,380,581
91$39,780,453$7,310,559$4,073,613$23,260,137
92$43,735,685$7,566,403$4,107,705$25,322,734
93$48,091,127$7,831,558$4,139,714$27,586,791
94$52,887,496$8,106,379$4,169,470$30,072,594
95$58,169,665$8,391,236$4,196,791$32,802,492
96$63,987,075$8,686,511$4,221,488$35,801,108
97$70,394,211$8,992,604$4,243,362$39,095,565
98$77,451,109$9,309,929$4,262,202$42,715,744
99$85,223,926$9,638,920$4,277,790$46,694,565
100$93,785,563$9,980,024$4,289,893$51,068,299