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

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 $2,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$216,357$214,430$212,550$210,714$208,922$201,510
2 years$107,108$105,113$103,179$101,305$99,487$92,098
3 years$70,696$68,692$66,764$64,907$63,119$55,985
4 years$52,493$50,496$48,587$46,762$45,017$38,194
5 years$41,575$39,590$37,706$35,918$34,221$27,726
6 years$34,298$32,328$30,472$28,724$27,078$20,916
7 years$29,103$27,149$25,322$23,615$22,022$16,191
8 years$25,208$23,272$21,475$19,810$18,269$12,766
9 years$22,180$20,262$18,497$16,874$15,385$10,202
10 years$19,759$17,860$16,126$14,546$13,109$8,236
11 years$17,780$15,900$14,197$12,659$11,274$6,702
12 years$16,132$14,271$12,599$11,104$9,770$5,488
13 years$14,738$12,897$11,257$9,803$8,520$4,516
14 years$13,544$11,723$10,114$8,702$7,468$3,731
15 years$12,511$10,709$9,132$7,761$6,576$3,092
16 years$11,608$9,825$8,279$6,949$5,812$2,570
17 years$10,811$9,049$7,534$6,243$5,153$2,140
18 years$10,104$8,361$6,877$5,627$4,582$1,785
19 years$9,472$7,749$6,296$5,084$4,084$1,492
20 years$8,905$7,201$5,778$4,605$3,648$1,248
21 years$8,391$6,707$5,315$4,179$3,264$1,045
22 years$7,925$6,261$4,898$3,800$2,926$876
23 years$7,501$5,856$4,523$3,460$2,627$735
24 years$7,112$5,487$4,183$3,156$2,361$616
25 years$6,755$5,149$3,874$2,882$2,124$518
26 years$6,426$4,839$3,593$2,635$1,914$435
27 years$6,121$4,554$3,336$2,412$1,725$365
28 years$5,839$4,291$3,102$2,210$1,557$307
29 years$5,577$4,048$2,886$2,027$1,406$258
30 years$5,333$3,823$2,689$1,860$1,270$217
31 years$5,105$3,614$2,506$1,708$1,148$182
32 years$4,892$3,420$2,339$1,570$1,039$153
33 years$4,692$3,239$2,184$1,444$940$129
34 years$4,504$3,070$2,040$1,328$851$109
35 years$4,328$2,911$1,907$1,223$771$91
36 years$4,161$2,763$1,784$1,126$698$77
37 years$4,004$2,625$1,670$1,038$633$65
38 years$3,856$2,494$1,564$956$574$54
39 years$3,715$2,372$1,465$882$520$46
40 years$3,582$2,257$1,373$813$472$39
41 years$3,456$2,148$1,288$750$428$32
42 years$3,336$2,046$1,208$693$389$27
43 years$3,222$1,949$1,134$639$353$23
44 years$3,113$1,858$1,064$590$320$19
45 years$3,009$1,772$999$545$291$16
46 years$2,911$1,690$938$504$264$14
47 years$2,817$1,613$882$465$240$12
48 years$2,726$1,540$828$430$218$10
49 years$2,640$1,470$779$397$198$8
50 years$2,558$1,405$732$367$180$7

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 $6,754 every year, while hoping to spend $30,111 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: 39/48/13 Blend
61$2,620,000$2,620,000$2,620,000$2,620,000
62$2,894,207$2,755,347$2,714,737$2,995,511
63$3,157,378$2,858,321$2,773,643$3,171,020
64$3,446,383$2,965,332$2,833,513$3,357,223
65$3,763,827$3,076,545$2,894,347$3,557,895
66$4,112,575$3,192,134$2,956,146$3,774,357
67$4,495,788$3,312,279$3,018,907$4,008,058
68$4,916,947$3,437,168$3,082,629$4,260,586
69$5,379,885$3,566,999$3,147,307$4,533,690
70$5,888,827$3,701,976$3,212,935$4,829,286
71$6,448,428$3,842,313$3,279,509$5,149,483
72$7,063,814$3,988,233$3,347,019$5,496,596
73$7,740,636$4,139,970$3,415,457$5,873,167
74$8,485,117$4,297,764$3,484,811$6,281,995
75$9,304,116$4,461,872$3,555,069$6,726,151
76$10,205,189$4,632,556$3,626,217$7,209,015
77$11,196,660$4,810,094$3,698,238$7,734,302
78$12,287,704$4,994,773$3,771,113$8,306,097
79$13,488,427$5,186,895$3,844,823$8,928,893
80$14,809,967$5,386,772$3,919,344$9,607,631
81$16,264,594$5,594,734$3,994,652$10,347,747
82$17,865,829$5,811,123$4,070,720$11,155,221
83$19,628,570$6,036,295$4,147,516$12,036,632
84$21,569,235$6,270,624$4,225,008$12,999,219
85$23,705,912$6,514,499$4,303,161$14,050,947
86$26,058,533$6,768,328$4,381,935$15,200,583
87$28,649,063$7,032,535$4,461,289$16,457,775
88$31,501,701$7,307,564$4,541,177$17,833,142
89$34,643,118$7,593,877$4,621,549$19,338,371
90$38,102,699$7,891,960$4,702,354$20,986,330
91$41,912,825$8,202,317$4,783,534$22,791,182
92$46,109,180$8,525,477$4,865,028$24,768,521
93$50,731,081$8,861,991$4,946,772$26,935,513
94$55,821,858$9,212,435$5,028,696$29,311,063
95$61,429,255$9,577,412$5,110,724$31,915,983
96$67,605,884$9,957,549$5,192,778$34,773,189
97$74,409,720$10,353,505$5,274,772$37,907,920
98$81,904,650$10,765,966$5,356,616$41,347,966
99$90,161,076$11,195,650$5,438,214$45,123,932
100$99,256,574$11,643,305$5,519,463$49,269,524