Can I retire at age 62 with 2,620,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$216,357$214,430$212,550$210,714$208,922$204,956
2 years$107,108$105,113$103,179$101,305$99,487$95,506
3 years$70,696$68,692$66,764$64,907$63,119$59,247
4 years$52,493$50,496$48,587$46,762$45,017$41,285
5 years$41,575$39,590$37,706$35,918$34,221$30,640
6 years$34,298$32,328$30,472$28,724$27,078$23,651
7 years$29,103$27,149$25,322$23,615$22,022$18,750
8 years$25,208$23,272$21,475$19,810$18,269$15,152
9 years$22,180$20,262$18,497$16,874$15,385$12,420
10 years$19,759$17,860$16,126$14,546$13,109$10,294
11 years$17,780$15,900$14,197$12,659$11,274$8,605
12 years$16,132$14,271$12,599$11,104$9,770$7,243
13 years$14,738$12,897$11,257$9,803$8,520$6,131
14 years$13,544$11,723$10,114$8,702$7,468$5,214
15 years$12,511$10,709$9,132$7,761$6,576$4,451
16 years$11,608$9,825$8,279$6,949$5,812$3,812
17 years$10,811$9,049$7,534$6,243$5,153$3,273
18 years$10,104$8,361$6,877$5,627$4,582$2,817
19 years$9,472$7,749$6,296$5,084$4,084$2,429
20 years$8,905$7,201$5,778$4,605$3,648$2,098
21 years$8,391$6,707$5,315$4,179$3,264$1,814
22 years$7,925$6,261$4,898$3,800$2,926$1,571
23 years$7,501$5,856$4,523$3,460$2,627$1,362
24 years$7,112$5,487$4,183$3,156$2,361$1,181
25 years$6,755$5,149$3,874$2,882$2,124$1,026
26 years$6,426$4,839$3,593$2,635$1,914$891
27 years$6,121$4,554$3,336$2,412$1,725$775
28 years$5,839$4,291$3,102$2,210$1,557$674
29 years$5,577$4,048$2,886$2,027$1,406$586
30 years$5,333$3,823$2,689$1,860$1,270$510
31 years$5,105$3,614$2,506$1,708$1,148$444
32 years$4,892$3,420$2,339$1,570$1,039$387
33 years$4,692$3,239$2,184$1,444$940$337
34 years$4,504$3,070$2,040$1,328$851$294
35 years$4,328$2,911$1,907$1,223$771$256
36 years$4,161$2,763$1,784$1,126$698$223
37 years$4,004$2,625$1,670$1,038$633$195
38 years$3,856$2,494$1,564$956$574$170
39 years$3,715$2,372$1,465$882$520$148
40 years$3,582$2,257$1,373$813$472$129
41 years$3,456$2,148$1,288$750$428$112
42 years$3,336$2,046$1,208$693$389$98
43 years$3,222$1,949$1,134$639$353$86
44 years$3,113$1,858$1,064$590$320$75
45 years$3,009$1,772$999$545$291$65
46 years$2,911$1,690$938$504$264$57
47 years$2,817$1,613$882$465$240$50
48 years$2,726$1,540$828$430$218$43
49 years$2,640$1,470$779$397$198$38
50 years$2,558$1,405$732$367$180$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,620,000, adding $2,309 every year, while hoping to spend $39,739 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: 49/35/16 Blend
61$2,620,000$2,620,000$2,620,000$2,620,000
62$2,889,622$2,750,762$2,710,152$3,018,258
63$3,142,081$2,843,267$2,758,660$3,199,804
64$3,418,960$2,938,973$2,807,461$3,392,617
65$3,722,706$3,037,995$2,856,523$3,601,202
66$4,056,017$3,140,452$2,905,812$3,827,054
67$4,421,864$3,246,468$2,955,290$4,071,815
68$4,823,520$3,356,170$3,004,918$4,337,295
69$5,264,589$3,469,693$3,054,653$4,625,480
70$5,749,043$3,587,174$3,104,450$4,938,559
71$6,281,257$3,708,757$3,154,260$5,278,940
72$6,866,049$3,834,590$3,204,032$5,649,270
73$7,508,730$3,964,829$3,253,711$6,052,464
74$8,215,148$4,099,633$3,303,238$6,491,730
75$8,991,747$4,239,169$3,352,550$6,970,599
76$9,845,627$4,383,610$3,401,582$7,492,957
77$10,784,609$4,533,135$3,450,264$8,063,081
78$11,817,312$4,687,931$3,498,520$8,685,681
79$12,953,229$4,848,191$3,546,272$9,365,944
80$14,202,822$5,014,116$3,593,435$10,109,576
81$15,577,617$5,185,915$3,639,923$10,922,864
82$17,090,314$5,363,804$3,685,640$11,812,731
83$18,754,904$5,548,010$3,730,488$12,786,798
84$20,586,807$5,738,764$3,774,361$13,853,458
85$22,603,009$5,936,311$3,817,150$15,021,957
86$24,822,228$6,140,903$3,858,737$16,302,475
87$27,265,090$6,352,802$3,898,999$17,706,225
88$29,954,320$6,572,280$3,937,806$19,245,557
89$32,914,959$6,799,620$3,975,022$20,934,075
90$36,174,601$7,035,117$4,010,501$22,786,762
91$39,763,649$7,279,077$4,044,091$24,820,123
92$43,715,606$7,531,816$4,075,633$27,052,340
93$48,067,388$7,793,666$4,104,957$29,503,440
94$52,859,676$8,064,969$4,131,887$32,195,486
95$58,137,293$8,346,083$4,156,235$35,152,784
96$63,949,633$8,637,378$4,177,806$38,402,108
97$70,351,127$8,939,240$4,196,393$41,972,957
98$77,401,749$9,252,070$4,211,780$45,897,829
99$85,167,591$9,576,286$4,223,738$50,212,528
100$93,721,482$9,912,320$4,232,029$54,956,498