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%16.7%
1 years$216,357$214,430$212,550$210,714$208,922$203,213
2 years$107,108$105,113$103,179$101,305$99,487$93,776
3 years$70,696$68,692$66,764$64,907$63,119$57,585
4 years$52,493$50,496$48,587$46,762$45,017$39,704
5 years$41,575$39,590$37,706$35,918$34,221$29,143
6 years$34,298$32,328$30,472$28,724$27,078$22,240
7 years$29,103$27,149$25,322$23,615$22,022$17,423
8 years$25,208$23,272$21,475$19,810$18,269$13,908
9 years$22,180$20,262$18,497$16,874$15,385$11,258
10 years$19,759$17,860$16,126$14,546$13,109$9,209
11 years$17,780$15,900$14,197$12,659$11,274$7,597
12 years$16,132$14,271$12,599$11,104$9,770$6,307
13 years$14,738$12,897$11,257$9,803$8,520$5,265
14 years$13,544$11,723$10,114$8,702$7,468$4,413
15 years$12,511$10,709$9,132$7,761$6,576$3,713
16 years$11,608$9,825$8,279$6,949$5,812$3,132
17 years$10,811$9,049$7,534$6,243$5,153$2,649
18 years$10,104$8,361$6,877$5,627$4,582$2,245
19 years$9,472$7,749$6,296$5,084$4,084$1,906
20 years$8,905$7,201$5,778$4,605$3,648$1,620
21 years$8,391$6,707$5,315$4,179$3,264$1,379
22 years$7,925$6,261$4,898$3,800$2,926$1,175
23 years$7,501$5,856$4,523$3,460$2,627$1,002
24 years$7,112$5,487$4,183$3,156$2,361$855
25 years$6,755$5,149$3,874$2,882$2,124$730
26 years$6,426$4,839$3,593$2,635$1,914$623
27 years$6,121$4,554$3,336$2,412$1,725$533
28 years$5,839$4,291$3,102$2,210$1,557$455
29 years$5,577$4,048$2,886$2,027$1,406$390
30 years$5,333$3,823$2,689$1,860$1,270$333
31 years$5,105$3,614$2,506$1,708$1,148$285
32 years$4,892$3,420$2,339$1,570$1,039$244
33 years$4,692$3,239$2,184$1,444$940$209
34 years$4,504$3,070$2,040$1,328$851$179
35 years$4,328$2,911$1,907$1,223$771$153
36 years$4,161$2,763$1,784$1,126$698$131
37 years$4,004$2,625$1,670$1,038$633$112
38 years$3,856$2,494$1,564$956$574$96
39 years$3,715$2,372$1,465$882$520$82
40 years$3,582$2,257$1,373$813$472$71
41 years$3,456$2,148$1,288$750$428$60
42 years$3,336$2,046$1,208$693$389$52
43 years$3,222$1,949$1,134$639$353$44
44 years$3,113$1,858$1,064$590$320$38
45 years$3,009$1,772$999$545$291$33
46 years$2,911$1,690$938$504$264$28
47 years$2,817$1,613$882$465$240$24
48 years$2,726$1,540$828$430$218$20
49 years$2,640$1,470$779$397$198$18
50 years$2,558$1,405$732$367$180$15

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 $4,790 every year, while hoping to spend $30,946 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: 74/13/13 Blend
61$2,620,000$2,620,000$2,620,000$2,620,000
62$2,892,181$2,753,321$2,712,711$3,098,026
63$3,154,257$2,855,307$2,770,660$3,336,702
64$3,442,028$2,961,254$2,829,514$3,593,818
65$3,758,081$3,071,322$2,889,269$3,874,684
66$4,105,269$3,185,680$2,949,923$4,181,648
67$4,486,731$3,304,503$3,011,470$4,517,294
68$4,905,928$3,427,974$3,073,905$4,884,468
69$5,366,672$3,556,285$3,137,220$5,286,305
70$5,873,163$3,689,633$3,201,408$5,726,254
71$6,430,027$3,828,226$3,266,456$6,208,116
72$7,042,362$3,972,281$3,332,355$6,736,076
73$7,715,784$4,122,024$3,399,090$7,314,743
74$8,456,481$4,277,690$3,466,646$7,949,193
75$9,271,270$4,439,525$3,535,007$8,645,017
76$10,167,663$4,607,785$3,604,153$9,408,373
77$11,153,935$4,782,738$3,674,063$10,246,043
78$12,239,206$4,964,661$3,744,714$11,165,500
79$13,433,524$5,153,848$3,816,080$12,174,972
80$14,747,958$5,350,601$3,888,133$13,283,525
81$16,194,707$5,555,238$3,960,843$14,501,147
82$17,787,212$5,768,090$4,034,176$15,838,838
83$19,540,283$5,989,501$4,108,096$17,308,719
84$21,470,238$6,219,833$4,182,564$18,924,141
85$23,595,060$6,459,463$4,257,537$20,699,813
86$25,934,561$6,708,782$4,332,970$22,651,941
87$28,510,575$6,968,200$4,408,813$24,798,378
88$31,347,159$7,238,148$4,485,013$27,158,794
89$34,470,822$7,519,070$4,561,515$29,754,861
90$37,910,776$7,811,435$4,638,256$32,610,456
91$41,699,210$8,115,729$4,715,171$35,751,884
92$45,871,591$8,432,462$4,792,192$39,208,132
93$50,467,006$8,762,165$4,869,243$43,011,135
94$55,528,524$9,105,394$4,946,245$47,196,080
95$61,103,604$9,462,729$5,023,115$51,801,737
96$67,244,543$9,834,775$5,099,761$56,870,826
97$74,008,973$10,222,165$5,176,089$62,450,415
98$81,460,396$10,625,559$5,251,997$68,592,368
99$89,668,795$11,045,649$5,327,376$75,353,832
100$98,711,282$11,483,156$5,402,114$82,797,777