Can I retire at age 62 with 2,670,000?

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 $2,670,000?

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$220,486$218,522$216,606$214,736$212,910$207,510
2 years$109,152$107,119$105,149$103,238$101,385$95,981
3 years$72,045$70,003$68,038$66,146$64,323$59,082
4 years$53,495$51,460$49,514$47,654$45,876$40,839
5 years$42,368$40,345$38,425$36,603$34,874$30,055
6 years$34,953$32,945$31,053$29,272$27,595$22,998
7 years$29,658$27,667$25,805$24,066$22,442$18,069
8 years$25,689$23,716$21,885$20,188$18,618$14,466
9 years$22,603$20,649$18,850$17,196$15,679$11,744
10 years$20,136$18,201$16,433$14,823$13,359$9,638
11 years$18,119$16,203$14,468$12,901$11,489$7,975
12 years$16,439$14,543$12,840$11,316$9,956$6,644
13 years$15,019$13,143$11,471$9,990$8,682$5,564
14 years$13,803$11,946$10,307$8,868$7,611$4,680
15 years$12,750$10,913$9,306$7,909$6,701$3,951
16 years$11,829$10,013$8,437$7,081$5,922$3,345
17 years$11,018$9,221$7,678$6,362$5,251$2,840
18 years$10,297$8,521$7,009$5,734$4,669$2,415
19 years$9,653$7,897$6,416$5,181$4,162$2,058
20 years$9,074$7,338$5,888$4,692$3,717$1,756
21 years$8,552$6,835$5,416$4,259$3,327$1,500
22 years$8,077$6,381$4,992$3,872$2,982$1,283
23 years$7,644$5,968$4,609$3,526$2,677$1,098
24 years$7,248$5,591$4,263$3,216$2,406$941
25 years$6,884$5,247$3,948$2,937$2,165$807
26 years$6,548$4,931$3,662$2,686$1,950$692
27 years$6,238$4,641$3,400$2,458$1,758$594
28 years$5,951$4,373$3,161$2,252$1,586$510
29 years$5,684$4,126$2,941$2,065$1,432$438
30 years$5,435$3,896$2,740$1,896$1,294$376
31 years$5,203$3,683$2,554$1,741$1,170$323
32 years$4,985$3,485$2,383$1,600$1,059$278
33 years$4,782$3,300$2,225$1,471$958$239
34 years$4,590$3,128$2,079$1,354$867$205
35 years$4,410$2,967$1,944$1,246$786$176
36 years$4,241$2,816$1,818$1,148$712$152
37 years$4,080$2,675$1,702$1,057$645$130
38 years$3,929$2,542$1,594$975$585$112
39 years$3,786$2,417$1,493$899$530$97
40 years$3,650$2,300$1,400$829$481$83
41 years$3,522$2,189$1,312$765$436$71
42 years$3,399$2,085$1,231$706$396$61
43 years$3,283$1,986$1,155$652$359$53
44 years$3,172$1,893$1,084$602$326$46
45 years$3,067$1,806$1,018$556$296$39
46 years$2,966$1,722$956$513$269$34
47 years$2,870$1,644$898$474$244$29
48 years$2,779$1,569$844$438$222$25
49 years$2,691$1,498$794$405$201$21
50 years$2,607$1,431$746$374$183$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,670,000, adding $2,930 every year, while hoping to spend $47,853 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: 54/29/17 Blend
61$2,670,000$2,670,000$2,670,000$2,670,000
62$2,945,362$2,803,852$2,762,467$3,090,811
63$3,194,874$2,890,326$2,804,095$3,276,955
64$3,468,232$2,979,433$2,845,513$3,474,129
65$3,767,818$3,071,252$2,886,664$3,687,693
66$4,096,256$3,165,863$2,927,488$3,919,222
67$4,456,434$3,263,350$2,967,918$4,170,449
68$4,851,535$3,363,799$3,007,888$4,443,282
69$5,285,063$3,467,296$3,047,323$4,739,819
70$5,760,878$3,573,933$3,086,148$5,062,374
71$6,283,235$3,683,803$3,124,281$5,413,491
72$6,856,816$3,797,001$3,161,636$5,795,970
73$7,486,783$3,913,625$3,198,122$6,212,899
74$8,178,819$4,033,776$3,233,643$6,667,672
75$8,939,186$4,157,560$3,268,098$7,164,030
76$9,774,785$4,285,081$3,301,381$7,706,093
77$10,693,214$4,416,451$3,333,378$8,298,398
78$11,702,847$4,551,783$3,363,972$8,945,940
79$12,812,908$4,691,191$3,393,036$9,654,223
80$14,033,562$4,834,797$3,420,440$10,429,308
81$15,376,005$4,982,722$3,446,044$11,277,872
82$16,852,574$5,135,092$3,469,703$12,207,268
83$18,476,863$5,292,037$3,491,264$13,225,599
84$20,263,846$5,453,690$3,510,565$14,341,788
85$22,230,026$5,620,188$3,527,436$15,565,667
86$24,393,582$5,791,672$3,541,699$16,908,068
87$26,774,549$5,968,285$3,553,167$18,380,921
88$29,394,998$6,150,176$3,561,643$19,997,373
89$32,279,250$6,337,497$3,566,921$21,771,907
90$35,454,104$6,530,404$3,568,783$23,720,480
91$38,949,087$6,729,059$3,567,002$25,860,673
92$42,796,737$6,933,626$3,561,340$28,211,855
93$47,032,905$7,144,274$3,551,545$30,795,370
94$51,697,095$7,361,177$3,537,356$33,634,732
95$56,832,838$7,584,514$3,518,496$36,755,852
96$62,488,100$7,814,468$3,494,678$40,187,279
97$68,715,735$8,051,226$3,465,599$43,960,470
98$75,573,985$8,294,981$3,430,942$48,110,087
99$83,127,028$8,545,932$3,390,375$52,674,322
100$91,445,583$8,804,280$3,343,551$57,695,261