Can I retire at age 62 with 2,680,000?

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 $2,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$221,312$219,341$217,417$215,540$213,707$207,198
2 years$109,560$107,520$105,542$103,625$101,765$95,263
3 years$72,315$70,265$68,293$66,394$64,564$58,273
4 years$53,696$51,653$49,700$47,833$46,048$40,016
5 years$42,527$40,496$38,569$36,740$35,005$29,249
6 years$35,084$33,068$31,170$29,381$27,698$22,223
7 years$29,769$27,771$25,902$24,156$22,526$17,331
8 years$25,785$23,805$21,967$20,264$18,687$13,770
9 years$22,688$20,726$18,920$17,260$15,737$11,091
10 years$20,212$18,269$16,495$14,879$13,409$9,028
11 years$18,187$16,264$14,522$12,949$11,532$7,409
12 years$16,501$14,598$12,888$11,358$9,994$6,119
13 years$15,075$13,192$11,514$10,027$8,715$5,080
14 years$13,855$11,991$10,346$8,901$7,639$4,235
15 years$12,797$10,954$9,341$7,938$6,726$3,543
16 years$11,873$10,050$8,469$7,108$5,945$2,972
17 years$11,059$9,256$7,706$6,386$5,271$2,499
18 years$10,336$8,553$7,035$5,755$4,687$2,105
19 years$9,689$7,927$6,440$5,200$4,177$1,776
20 years$9,108$7,366$5,910$4,710$3,731$1,501
21 years$8,584$6,861$5,436$4,275$3,339$1,269
22 years$8,107$6,404$5,011$3,887$2,993$1,075
23 years$7,672$5,990$4,626$3,540$2,687$911
24 years$7,275$5,612$4,279$3,228$2,415$772
25 years$6,909$5,267$3,963$2,948$2,173$655
26 years$6,573$4,950$3,675$2,696$1,957$556
27 years$6,262$4,658$3,413$2,468$1,765$472
28 years$5,973$4,390$3,173$2,261$1,592$401
29 years$5,705$4,141$2,952$2,073$1,438$341
30 years$5,455$3,911$2,750$1,903$1,299$290
31 years$5,222$3,697$2,564$1,747$1,175$246
32 years$5,004$3,498$2,392$1,606$1,062$209
33 years$4,799$3,313$2,234$1,477$962$178
34 years$4,607$3,140$2,087$1,359$871$151
35 years$4,427$2,978$1,951$1,251$789$129
36 years$4,256$2,827$1,825$1,152$714$109
37 years$4,096$2,685$1,708$1,061$648$93
38 years$3,944$2,551$1,600$978$587$79
39 years$3,800$2,426$1,499$902$532$67
40 years$3,664$2,308$1,405$832$483$57
41 years$3,535$2,197$1,317$768$438$49
42 years$3,412$2,093$1,236$708$397$42
43 years$3,295$1,994$1,160$654$361$35
44 years$3,184$1,900$1,088$604$327$30
45 years$3,078$1,812$1,022$558$297$26
46 years$2,977$1,729$960$515$270$22
47 years$2,881$1,650$902$476$245$19
48 years$2,789$1,575$847$440$223$16
49 years$2,701$1,504$797$406$202$13
50 years$2,617$1,437$749$376$184$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,680,000, adding $3,497 every year, while hoping to spend $57,414 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: 59/36/5 Blend
61$2,680,000$2,680,000$2,680,000$2,680,000
62$2,956,967$2,814,927$2,773,387$3,128,618
63$3,197,490$2,891,771$2,805,208$3,320,807
64$3,460,621$2,970,455$2,836,170$3,523,358
65$3,748,608$3,051,010$2,866,184$3,742,730
66$4,063,921$3,133,465$2,895,157$3,980,539
67$4,409,284$3,217,848$2,922,988$4,238,560
68$4,787,696$3,304,188$2,949,573$4,518,748
69$5,202,459$3,392,511$2,974,802$4,823,255
70$5,657,210$3,482,844$2,998,558$5,154,450
71$6,155,955$3,575,213$3,020,719$5,514,942
72$6,703,106$3,669,641$3,041,156$5,907,600
73$7,303,522$3,766,153$3,059,734$6,335,588
74$7,962,556$3,864,770$3,076,310$6,802,386
75$8,686,106$3,965,512$3,090,736$7,311,828
76$9,480,665$4,068,399$3,102,852$7,868,137
77$10,353,390$4,173,448$3,112,495$8,475,963
78$11,312,163$4,280,673$3,119,490$9,140,428
79$12,365,665$4,390,089$3,123,655$9,867,173
80$13,523,465$4,501,705$3,124,799$10,662,412
81$14,796,100$4,615,530$3,122,721$11,532,990
82$16,195,181$4,731,569$3,117,211$12,486,448
83$17,733,499$4,849,826$3,108,047$13,531,093
84$19,425,148$4,970,299$3,094,999$14,676,075
85$21,285,654$5,092,985$3,077,822$15,931,475
86$23,332,124$5,217,875$3,056,263$17,308,401
87$25,583,408$5,344,957$3,030,055$18,819,090
88$28,060,271$5,474,217$2,998,918$20,477,024
89$30,785,597$5,605,631$2,962,559$22,297,057
90$33,784,596$5,739,175$2,920,673$24,295,556
91$37,085,047$5,874,817$2,872,938$26,490,553
92$40,717,558$6,012,520$2,819,018$28,901,920
93$44,715,856$6,152,239$2,758,561$31,551,549
94$49,117,100$6,293,927$2,691,200$34,463,564
95$53,962,239$6,437,523$2,616,550$37,664,546
96$59,296,391$6,582,965$2,534,208$41,183,787
97$65,169,271$6,730,179$2,443,752$45,053,562
98$71,635,661$6,879,082$2,344,742$49,309,434
99$78,755,925$7,029,584$2,236,718$53,990,594
100$86,596,580$7,181,584$2,119,198$59,140,226