Can I retire at age 62 with 2,630,000?

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 $2,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$217,183$215,248$213,361$211,519$209,720$206,246
2 years$107,516$105,514$103,573$101,692$99,867$96,376
3 years$70,966$68,955$67,019$65,155$63,359$59,962
4 years$52,694$50,689$48,773$46,940$45,189$41,910
5 years$41,734$39,741$37,849$36,055$34,352$31,202
6 years$34,429$32,451$30,588$28,833$27,181$24,163
7 years$29,214$27,253$25,419$23,705$22,106$19,221
8 years$25,304$23,360$21,557$19,886$18,339$15,586
9 years$22,265$20,339$18,567$16,938$15,444$12,822
10 years$19,835$17,928$16,187$14,601$13,159$10,666
11 years$17,848$15,960$14,251$12,707$11,317$8,950
12 years$16,193$14,325$12,647$11,146$9,807$7,563
13 years$14,794$12,946$11,300$9,840$8,552$6,427
14 years$13,596$11,767$10,153$8,735$7,497$5,488
15 years$12,559$10,750$9,167$7,790$6,601$4,704
16 years$11,652$9,863$8,311$6,975$5,834$4,046
17 years$10,853$9,083$7,563$6,267$5,173$3,489
18 years$10,143$8,393$6,904$5,648$4,599$3,016
19 years$9,509$7,779$6,320$5,103$4,099$2,612
20 years$8,939$7,228$5,800$4,622$3,662$2,266
21 years$8,423$6,733$5,335$4,195$3,277$1,969
22 years$7,956$6,285$4,917$3,814$2,937$1,712
23 years$7,529$5,878$4,540$3,474$2,637$1,491
24 years$7,139$5,508$4,199$3,168$2,370$1,300
25 years$6,781$5,169$3,889$2,893$2,132$1,134
26 years$6,450$4,858$3,607$2,645$1,921$990
27 years$6,145$4,572$3,349$2,421$1,732$865
28 years$5,862$4,308$3,113$2,219$1,563$756
29 years$5,599$4,064$2,897$2,035$1,411$661
30 years$5,354$3,838$2,699$1,867$1,275$578
31 years$5,125$3,628$2,516$1,715$1,153$506
32 years$4,911$3,433$2,347$1,576$1,043$443
33 years$4,710$3,251$2,192$1,449$944$388
34 years$4,521$3,081$2,048$1,333$854$339
35 years$4,344$2,922$1,915$1,227$774$297
36 years$4,177$2,774$1,791$1,130$701$261
37 years$4,019$2,635$1,676$1,042$635$228
38 years$3,870$2,504$1,570$960$576$200
39 years$3,729$2,381$1,471$885$522$175
40 years$3,596$2,265$1,379$816$474$154
41 years$3,469$2,156$1,293$753$430$135
42 years$3,348$2,054$1,213$695$390$118
43 years$3,234$1,957$1,138$642$354$104
44 years$3,125$1,865$1,068$593$321$91
45 years$3,021$1,778$1,003$547$292$80
46 years$2,922$1,697$942$506$265$70
47 years$2,827$1,619$885$467$241$61
48 years$2,737$1,546$832$432$218$54
49 years$2,650$1,476$782$399$198$47
50 years$2,568$1,410$735$369$180$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,630,000, adding $2,776 every year, while hoping to spend $40,681 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: 35/37/28 Blend
61$2,630,000$2,630,000$2,630,000$2,630,000
62$2,901,123$2,761,733$2,720,968$2,978,088
63$3,153,754$2,853,774$2,768,837$3,128,020
64$3,430,789$2,948,961$2,816,945$3,285,825
65$3,734,675$3,047,406$2,865,258$3,455,314
66$4,068,107$3,149,224$2,913,740$3,637,558
67$4,434,053$3,254,535$2,962,349$3,833,739
68$4,835,782$3,363,463$3,011,043$4,045,152
69$5,276,894$3,476,135$3,059,776$4,273,224
70$5,761,358$3,592,687$3,108,499$4,519,522
71$6,293,544$3,713,255$3,157,160$4,785,771
72$6,878,264$3,837,984$3,205,705$5,073,867
73$7,520,824$3,967,022$3,254,073$5,385,897
74$8,227,066$4,100,524$3,302,202$5,724,155
75$9,003,427$4,238,649$3,350,025$6,091,168
76$9,856,998$4,381,565$3,397,473$6,489,716
77$10,795,593$4,529,442$3,444,469$6,922,857
78$11,827,819$4,682,461$3,490,935$7,393,957
79$12,963,162$4,840,807$3,536,787$7,906,723
80$14,212,070$5,004,672$3,581,935$8,465,235
81$15,586,057$5,174,257$3,626,285$9,073,982
82$17,097,808$5,349,768$3,669,739$9,737,911
83$18,761,299$5,531,422$3,712,190$10,462,465
84$20,591,932$5,719,442$3,753,528$11,253,639
85$22,606,673$5,914,059$3,793,636$12,118,033
86$24,824,221$6,115,515$3,832,390$13,062,917
87$27,265,176$6,324,060$3,869,659$14,096,297
88$29,952,239$6,539,953$3,905,307$15,226,989
89$32,910,421$6,763,465$3,939,189$16,464,704
90$36,167,284$6,994,875$3,971,152$17,820,135
91$39,753,197$7,234,474$4,001,036$19,305,064
92$43,701,624$7,482,564$4,028,672$20,932,466
93$48,049,439$7,739,459$4,053,881$22,716,634
94$52,837,274$8,005,485$4,076,479$24,673,313
95$58,109,903$8,280,979$4,096,267$26,819,845
96$63,916,660$8,566,295$4,113,040$29,175,337
97$70,311,913$8,861,797$4,126,580$31,760,838
98$77,355,568$9,167,865$4,136,660$34,599,534
99$85,113,639$9,484,893$4,143,041$37,716,972
100$93,658,869$9,813,292$4,145,472$41,141,294