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%16.2%
1 years$217,183$215,248$213,361$211,519$209,720$204,401
2 years$107,516$105,514$103,573$101,692$99,867$94,543
3 years$70,966$68,955$67,019$65,155$63,359$58,197
4 years$52,694$50,689$48,773$46,940$45,189$40,227
5 years$41,734$39,741$37,849$36,055$34,352$29,605
6 years$34,429$32,451$30,588$28,833$27,181$22,654
7 years$29,214$27,253$25,419$23,705$22,106$17,798
8 years$25,304$23,360$21,557$19,886$18,339$14,249
9 years$22,265$20,339$18,567$16,938$15,444$11,568
10 years$19,835$17,928$16,187$14,601$13,159$9,493
11 years$17,848$15,960$14,251$12,707$11,317$7,856
12 years$16,193$14,325$12,647$11,146$9,807$6,544
13 years$14,794$12,946$11,300$9,840$8,552$5,481
14 years$13,596$11,767$10,153$8,735$7,497$4,610
15 years$12,559$10,750$9,167$7,790$6,601$3,892
16 years$11,652$9,863$8,311$6,975$5,834$3,295
17 years$10,853$9,083$7,563$6,267$5,173$2,797
18 years$10,143$8,393$6,904$5,648$4,599$2,379
19 years$9,509$7,779$6,320$5,103$4,099$2,027
20 years$8,939$7,228$5,800$4,622$3,662$1,730
21 years$8,423$6,733$5,335$4,195$3,277$1,478
22 years$7,956$6,285$4,917$3,814$2,937$1,264
23 years$7,529$5,878$4,540$3,474$2,637$1,082
24 years$7,139$5,508$4,199$3,168$2,370$927
25 years$6,781$5,169$3,889$2,893$2,132$795
26 years$6,450$4,858$3,607$2,645$1,921$682
27 years$6,145$4,572$3,349$2,421$1,732$585
28 years$5,862$4,308$3,113$2,219$1,563$502
29 years$5,599$4,064$2,897$2,035$1,411$431
30 years$5,354$3,838$2,699$1,867$1,275$370
31 years$5,125$3,628$2,516$1,715$1,153$318
32 years$4,911$3,433$2,347$1,576$1,043$274
33 years$4,710$3,251$2,192$1,449$944$235
34 years$4,521$3,081$2,048$1,333$854$202
35 years$4,344$2,922$1,915$1,227$774$174
36 years$4,177$2,774$1,791$1,130$701$149
37 years$4,019$2,635$1,676$1,042$635$129
38 years$3,870$2,504$1,570$960$576$111
39 years$3,729$2,381$1,471$885$522$95
40 years$3,596$2,265$1,379$816$474$82
41 years$3,469$2,156$1,293$753$430$70
42 years$3,348$2,054$1,213$695$390$61
43 years$3,234$1,957$1,138$642$354$52
44 years$3,125$1,865$1,068$593$321$45
45 years$3,021$1,778$1,003$547$292$39
46 years$2,922$1,697$942$506$265$33
47 years$2,827$1,619$885$467$241$29
48 years$2,737$1,546$832$432$218$25
49 years$2,650$1,476$782$399$198$21
50 years$2,568$1,410$735$369$180$18

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 $6,443 every year, while hoping to spend $26,741 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: 40/34/26 Blend
61$2,630,000$2,630,000$2,630,000$2,630,000
62$2,904,906$2,765,516$2,724,751$2,998,560
63$3,172,754$2,872,574$2,787,578$3,174,015
64$3,467,027$2,983,982$2,851,613$3,360,731
65$3,790,390$3,099,924$2,916,869$3,562,218
66$4,145,784$3,220,594$2,983,358$3,779,843
67$4,536,443$3,346,192$3,051,090$4,015,107
68$4,965,936$3,476,931$3,120,077$4,269,661
69$5,438,190$3,613,029$3,190,328$4,545,318
70$5,957,534$3,754,717$3,261,853$4,844,070
71$6,528,738$3,902,234$3,334,661$5,168,108
72$7,157,057$4,055,830$3,408,759$5,519,839
73$7,848,279$4,215,768$3,484,154$5,901,911
74$8,608,783$4,382,320$3,560,854$6,317,235
75$9,445,598$4,555,773$3,638,862$6,769,012
76$10,366,468$4,736,425$3,718,182$7,260,763
77$11,379,925$4,924,588$3,798,819$7,796,362
78$12,495,372$5,120,586$3,880,774$8,380,069
79$13,723,167$5,324,762$3,964,047$9,016,573
80$15,074,725$5,537,470$4,048,637$9,711,032
81$16,562,623$5,759,083$4,134,543$10,469,122
82$18,200,721$5,989,988$4,221,760$11,297,090
83$20,004,289$6,230,592$4,310,284$12,201,811
84$21,990,154$6,481,319$4,400,106$13,190,851
85$24,176,859$6,742,613$4,491,219$14,272,540
86$26,584,834$7,014,936$4,583,610$15,456,046
87$29,236,594$7,298,775$4,677,268$16,751,464
88$32,156,947$7,594,635$4,772,177$18,169,904
89$35,373,230$7,903,046$4,868,319$19,723,603
90$38,915,566$8,224,562$4,965,674$21,426,030
91$42,817,150$8,559,762$5,064,220$23,292,018
92$47,114,559$8,909,251$5,163,932$25,337,899
93$51,848,101$9,273,661$5,264,781$27,581,660
94$57,062,193$9,653,655$5,366,736$30,043,107
95$62,805,777$10,049,925$5,469,762$32,744,052
96$69,132,789$10,463,194$5,573,821$35,708,517
97$76,102,662$10,894,219$5,678,873$38,962,960
98$83,780,889$11,343,792$5,784,871$42,536,520
99$92,239,642$11,812,740$5,891,767$46,461,293
100$101,558,451$12,301,929$5,999,506$50,772,629