Can I retire at age 62 with 2,660,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $2,660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$219,660$217,704$215,795$213,932$212,112$207,153
2 years$108,743$106,717$104,755$102,852$101,006$96,037
3 years$71,775$69,741$67,783$65,898$64,082$59,260
4 years$53,295$51,267$49,329$47,476$45,704$41,065
5 years$42,210$40,194$38,281$36,466$34,743$30,301
6 years$34,822$32,821$30,937$29,162$27,491$23,250
7 years$29,547$27,563$25,709$23,976$22,358$18,318
8 years$25,593$23,627$21,803$20,113$18,548$14,708
9 years$22,519$20,571$18,779$17,132$15,620$11,977
10 years$20,061$18,133$16,372$14,768$13,309$9,859
11 years$18,051$16,143$14,414$12,852$11,446$8,185
12 years$16,378$14,489$12,792$11,273$9,919$6,841
13 years$14,963$13,094$11,429$9,952$8,650$5,748
14 years$13,751$11,902$10,269$8,835$7,582$4,852
15 years$12,702$10,872$9,271$7,879$6,676$4,110
16 years$11,785$9,975$8,406$7,055$5,900$3,493
17 years$10,976$9,187$7,649$6,339$5,232$2,975
18 years$10,259$8,489$6,982$5,712$4,652$2,540
19 years$9,617$7,868$6,392$5,162$4,146$2,172
20 years$9,040$7,311$5,866$4,675$3,703$1,861
21 years$8,519$6,810$5,396$4,243$3,314$1,596
22 years$8,046$6,357$4,973$3,858$2,971$1,370
23 years$7,615$5,945$4,592$3,513$2,667$1,178
24 years$7,220$5,570$4,247$3,204$2,397$1,013
25 years$6,858$5,227$3,933$2,926$2,157$872
26 years$6,524$4,913$3,648$2,676$1,943$751
27 years$6,215$4,624$3,387$2,449$1,752$647
28 years$5,929$4,357$3,149$2,244$1,580$557
29 years$5,662$4,110$2,930$2,058$1,427$481
30 years$5,415$3,882$2,730$1,888$1,289$415
31 years$5,183$3,669$2,545$1,734$1,166$358
32 years$4,967$3,472$2,374$1,594$1,055$309
33 years$4,764$3,288$2,217$1,466$954$267
34 years$4,573$3,116$2,071$1,349$864$230
35 years$4,394$2,956$1,937$1,242$783$199
36 years$4,225$2,806$1,812$1,143$709$172
37 years$4,065$2,665$1,696$1,053$643$148
38 years$3,914$2,532$1,588$971$583$128
39 years$3,772$2,408$1,488$895$528$111
40 years$3,637$2,291$1,394$826$479$96
41 years$3,508$2,181$1,307$762$435$83
42 years$3,387$2,077$1,226$703$395$71
43 years$3,271$1,979$1,151$649$358$62
44 years$3,160$1,886$1,080$599$325$53
45 years$3,055$1,799$1,014$554$295$46
46 years$2,955$1,716$953$511$268$40
47 years$2,860$1,638$895$472$243$34
48 years$2,768$1,563$841$436$221$30
49 years$2,681$1,493$791$403$201$26
50 years$2,597$1,426$743$373$182$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,660,000, adding $3,092 every year, while hoping to spend $42,609 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: 34/37/29 Blend
61$2,660,000$2,660,000$2,660,000$2,660,000
62$2,934,509$2,793,529$2,752,299$3,008,461
63$3,188,494$2,885,077$2,799,166$3,156,236
64$3,466,956$2,979,682$2,846,174$3,311,468
65$3,772,349$3,077,449$2,893,284$3,478,051
66$4,107,372$3,178,488$2,940,453$3,657,026
67$4,475,001$3,282,911$2,987,635$3,849,537
68$4,878,511$3,390,833$3,034,780$4,056,844
69$5,321,511$3,502,376$3,081,837$4,280,328
70$5,807,977$3,617,664$3,128,751$4,521,512
71$6,342,288$3,736,827$3,175,462$4,782,070
72$6,929,269$3,859,999$3,221,907$5,063,841
73$7,574,234$3,987,319$3,268,021$5,368,852
74$8,283,038$4,118,930$3,313,731$5,699,331
75$9,062,132$4,254,981$3,358,965$6,057,730
76$9,918,621$4,395,626$3,403,642$6,446,748
77$10,860,335$4,541,027$3,447,678$6,869,356
78$11,895,899$4,691,347$3,490,985$7,328,822
79$13,034,816$4,846,758$3,533,469$7,828,747
80$14,287,557$5,007,440$3,575,030$8,373,092
81$15,665,659$5,173,575$3,615,565$8,966,221
82$17,181,831$5,345,355$3,654,961$9,612,938
83$18,850,078$5,522,978$3,693,103$10,318,530
84$20,685,832$5,706,649$3,729,867$11,088,823
85$22,706,092$5,896,581$3,765,124$11,930,231
86$24,929,595$6,092,994$3,798,736$12,849,817
87$27,376,980$6,296,117$3,830,560$13,855,362
88$30,070,992$6,506,187$3,860,444$14,955,434
89$33,036,692$6,723,450$3,888,228$16,159,470
90$36,301,696$6,948,160$3,913,745$17,477,865
91$39,896,430$7,180,581$3,936,817$18,922,072
92$43,854,425$7,420,988$3,957,258$20,504,701
93$48,212,624$7,669,664$3,974,874$22,239,650
94$53,011,738$7,926,905$3,989,460$24,142,222
95$58,296,628$8,193,015$4,000,798$26,229,282
96$64,116,723$8,468,312$4,008,664$28,519,405
97$70,526,494$8,753,124$4,012,820$31,033,056
98$77,585,962$9,047,793$4,013,015$33,792,782
99$85,361,268$9,352,673$4,008,989$36,823,424
100$93,925,293$9,668,130$4,000,466$40,152,350