Can I retire at age 62 with 2,640,000?

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 $2,640,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$218,009$216,067$214,172$212,323$210,517$206,351
2 years$107,925$105,915$103,967$102,078$100,246$96,067
3 years$71,235$69,217$67,274$65,403$63,600$59,537
4 years$52,894$50,882$48,958$47,119$45,360$41,445
5 years$41,892$39,892$37,993$36,192$34,482$30,727
6 years$34,560$32,575$30,704$28,943$27,285$23,692
7 years$29,325$27,356$25,515$23,796$22,190$18,761
8 years$25,400$23,449$21,639$19,961$18,408$15,143
9 years$22,349$20,417$18,638$17,003$15,503$12,399
10 years$19,910$17,996$16,249$14,657$13,209$10,263
11 years$17,916$16,021$14,305$12,756$11,360$8,569
12 years$16,255$14,380$12,695$11,188$9,844$7,203
13 years$14,850$12,995$11,343$9,878$8,585$6,090
14 years$13,648$11,812$10,191$8,768$7,525$5,172
15 years$12,606$10,791$9,201$7,820$6,626$4,409
16 years$11,696$9,900$8,342$7,002$5,856$3,770
17 years$10,894$9,118$7,591$6,291$5,192$3,233
18 years$10,181$8,425$6,930$5,669$4,617$2,778
19 years$9,545$7,808$6,344$5,123$4,115$2,392
20 years$8,973$7,256$5,822$4,640$3,676$2,063
21 years$8,455$6,759$5,355$4,211$3,289$1,781
22 years$7,986$6,309$4,936$3,829$2,948$1,540
23 years$7,558$5,901$4,557$3,487$2,647$1,333
24 years$7,166$5,528$4,215$3,180$2,379$1,154
25 years$6,806$5,188$3,904$2,904$2,141$1,001
26 years$6,475$4,876$3,620$2,656$1,928$868
27 years$6,168$4,589$3,362$2,431$1,738$753
28 years$5,884$4,324$3,125$2,227$1,569$654
29 years$5,620$4,079$2,908$2,042$1,416$568
30 years$5,374$3,852$2,709$1,874$1,280$494
31 years$5,144$3,642$2,526$1,721$1,157$429
32 years$4,929$3,446$2,356$1,582$1,047$373
33 years$4,728$3,263$2,200$1,455$947$325
34 years$4,539$3,093$2,056$1,339$858$282
35 years$4,361$2,934$1,922$1,232$777$246
36 years$4,193$2,784$1,798$1,135$704$214
37 years$4,035$2,645$1,683$1,046$638$186
38 years$3,885$2,513$1,576$964$578$162
39 years$3,743$2,390$1,476$889$524$141
40 years$3,609$2,274$1,384$820$476$123
41 years$3,482$2,164$1,298$756$432$107
42 years$3,361$2,061$1,217$698$392$93
43 years$3,246$1,964$1,142$644$355$81
44 years$3,137$1,872$1,072$595$323$71
45 years$3,032$1,785$1,007$549$293$61
46 years$2,933$1,703$946$507$266$53
47 years$2,838$1,625$888$469$241$47
48 years$2,747$1,551$835$433$219$41
49 years$2,661$1,482$785$400$199$35
50 years$2,578$1,415$738$370$181$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,640,000, adding $2,027 every year, while hoping to spend $44,461 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: 48/28/24 Blend
61$2,640,000$2,640,000$2,640,000$2,640,000
62$2,911,371$2,771,451$2,730,531$3,031,162
63$3,161,025$2,859,946$2,774,697$3,203,660
64$3,434,653$2,951,287$2,818,854$3,386,285
65$3,734,654$3,045,566$2,862,952$3,583,712
66$4,063,670$3,142,880$2,906,942$3,797,355
67$4,424,610$3,243,327$2,950,770$4,028,768
68$4,820,679$3,347,009$2,994,379$4,279,662
69$5,255,406$3,454,031$3,037,710$4,551,921
70$5,732,682$3,564,502$3,080,697$4,847,617
71$6,256,787$3,678,535$3,123,272$5,169,034
72$6,832,442$3,796,246$3,165,364$5,518,681
73$7,464,844$3,917,754$3,206,897$5,899,327
74$8,159,718$4,043,185$3,247,788$6,314,016
75$8,923,374$4,172,665$3,287,954$6,766,101
76$9,762,761$4,306,328$3,327,303$7,259,276
77$10,685,535$4,444,311$3,365,740$7,797,606
78$11,700,131$4,586,754$3,403,164$8,385,571
79$12,815,844$4,733,804$3,439,469$9,028,103
80$14,042,912$4,885,612$3,474,543$9,730,634
81$15,392,616$5,042,334$3,508,267$10,499,150
82$16,877,385$5,204,132$3,540,517$11,340,240
83$18,510,915$5,371,171$3,571,161$12,261,165
84$20,308,294$5,543,624$3,600,060$13,269,924
85$22,286,148$5,721,669$3,627,070$14,375,327
86$24,462,794$5,905,490$3,652,036$15,587,079
87$26,858,418$6,095,277$3,674,798$16,915,873
88$29,495,258$6,291,227$3,695,185$18,373,489
89$32,397,820$6,493,543$3,713,020$19,972,905
90$35,593,106$6,702,435$3,728,114$21,728,419
91$39,110,868$6,918,120$3,740,272$23,655,785
92$42,983,891$7,140,823$3,749,285$25,772,358
93$47,248,300$7,370,775$3,754,938$28,097,262
94$51,943,900$7,608,216$3,757,001$30,651,567
95$57,114,553$7,853,394$3,755,237$33,458,488
96$62,808,593$8,106,566$3,749,393$36,543,603
97$69,079,279$8,367,997$3,739,206$39,935,099
98$75,985,296$8,637,960$3,724,401$43,664,030
99$83,591,316$8,916,739$3,704,688$47,764,615
100$91,968,598$9,204,628$3,679,763$52,274,561