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%15.6%
1 years$220,486$218,522$216,606$214,736$212,910$208,016
2 years$109,152$107,119$105,149$103,238$101,385$96,482
3 years$72,045$70,003$68,038$66,146$64,323$59,564
4 years$53,495$51,460$49,514$47,654$45,876$41,296
5 years$42,368$40,345$38,425$36,603$34,874$30,488
6 years$34,953$32,945$31,053$29,272$27,595$23,406
7 years$29,658$27,667$25,805$24,066$22,442$18,451
8 years$25,689$23,716$21,885$20,188$18,618$14,824
9 years$22,603$20,649$18,850$17,196$15,679$12,079
10 years$20,136$18,201$16,433$14,823$13,359$9,949
11 years$18,119$16,203$14,468$12,901$11,489$8,265
12 years$16,439$14,543$12,840$11,316$9,956$6,912
13 years$15,019$13,143$11,471$9,990$8,682$5,812
14 years$13,803$11,946$10,307$8,868$7,611$4,909
15 years$12,750$10,913$9,306$7,909$6,701$4,162
16 years$11,829$10,013$8,437$7,081$5,922$3,539
17 years$11,018$9,221$7,678$6,362$5,251$3,017
18 years$10,297$8,521$7,009$5,734$4,669$2,577
19 years$9,653$7,897$6,416$5,181$4,162$2,206
20 years$9,074$7,338$5,888$4,692$3,717$1,891
21 years$8,552$6,835$5,416$4,259$3,327$1,623
22 years$8,077$6,381$4,992$3,872$2,982$1,395
23 years$7,644$5,968$4,609$3,526$2,677$1,199
24 years$7,248$5,591$4,263$3,216$2,406$1,032
25 years$6,884$5,247$3,948$2,937$2,165$889
26 years$6,548$4,931$3,662$2,686$1,950$766
27 years$6,238$4,641$3,400$2,458$1,758$661
28 years$5,951$4,373$3,161$2,252$1,586$570
29 years$5,684$4,126$2,941$2,065$1,432$492
30 years$5,435$3,896$2,740$1,896$1,294$425
31 years$5,203$3,683$2,554$1,741$1,170$367
32 years$4,985$3,485$2,383$1,600$1,059$317
33 years$4,782$3,300$2,225$1,471$958$274
34 years$4,590$3,128$2,079$1,354$867$236
35 years$4,410$2,967$1,944$1,246$786$204
36 years$4,241$2,816$1,818$1,148$712$177
37 years$4,080$2,675$1,702$1,057$645$153
38 years$3,929$2,542$1,594$975$585$132
39 years$3,786$2,417$1,493$899$530$114
40 years$3,650$2,300$1,400$829$481$99
41 years$3,522$2,189$1,312$765$436$85
42 years$3,399$2,085$1,231$706$396$74
43 years$3,283$1,986$1,155$652$359$64
44 years$3,172$1,893$1,084$602$326$55
45 years$3,067$1,806$1,018$556$296$48
46 years$2,966$1,722$956$513$269$41
47 years$2,870$1,644$898$474$244$36
48 years$2,779$1,569$844$438$222$31
49 years$2,691$1,498$794$405$201$27
50 years$2,607$1,431$746$374$183$23

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 $6,661 every year, while hoping to spend $27,494 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: 48/31/21 Blend
61$2,670,000$2,670,000$2,670,000$2,670,000
62$2,949,211$2,807,701$2,766,316$3,072,949
63$3,220,777$2,916,025$2,829,734$3,268,158
64$3,519,121$3,028,735$2,894,355$3,476,713
65$3,846,946$3,146,018$2,960,191$3,702,615
66$4,207,229$3,268,067$3,027,251$3,947,503
67$4,603,249$3,395,085$3,095,547$4,213,182
68$5,038,620$3,527,284$3,165,087$4,501,632
69$5,517,323$3,664,884$3,235,881$4,815,035
70$6,043,744$3,808,117$3,307,937$5,155,786
71$6,622,714$3,957,224$3,381,262$5,526,521
72$7,259,559$4,112,455$3,455,862$5,930,141
73$7,960,143$4,274,075$3,531,743$6,369,835
74$8,730,931$4,442,358$3,608,909$6,849,112
75$9,579,043$4,617,590$3,687,364$7,371,833
76$10,512,325$4,800,072$3,767,111$7,942,246
77$11,539,423$4,990,116$3,848,150$8,565,027
78$12,669,863$5,188,050$3,930,482$9,245,321
79$13,914,140$5,394,216$4,014,104$9,988,790
80$15,283,819$5,608,970$4,099,014$10,801,668
81$16,791,645$5,832,686$4,185,207$11,690,815
82$18,451,659$6,065,753$4,272,677$12,663,786
83$20,279,333$6,308,580$4,361,417$13,728,895
84$22,291,716$6,561,592$4,451,415$14,895,297
85$24,507,595$6,825,234$4,542,662$16,173,072
86$26,947,670$7,099,971$4,635,142$17,573,317
87$29,634,753$7,386,290$4,728,839$19,108,254
88$32,593,978$7,684,698$4,823,736$20,791,339
89$35,853,044$7,995,728$4,919,810$22,637,392
90$39,442,470$8,319,934$5,017,040$24,662,733
91$43,395,888$8,657,898$5,115,397$26,885,334
92$47,750,360$9,010,226$5,214,854$29,324,990
93$52,546,722$9,377,553$5,315,377$32,003,504
94$57,829,977$9,760,542$5,416,932$34,944,886
95$63,649,714$10,159,888$5,519,478$38,175,585
96$70,060,578$10,576,315$5,622,974$41,724,732
97$77,122,786$11,010,584$5,727,372$45,624,418
98$84,902,694$11,463,486$5,832,623$49,909,989
99$93,473,424$11,935,852$5,938,671$54,620,381
100$102,915,554$12,428,550$6,045,458$59,798,488