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

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 $2,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$221,312$219,341$217,417$215,540$213,707$209,908
2 years$109,560$107,520$105,542$103,625$101,765$97,950
3 years$72,315$70,265$68,293$66,394$64,564$60,852
4 years$53,696$51,653$49,700$47,833$46,048$42,468
5 years$42,527$40,496$38,569$36,740$35,005$31,567
6 years$35,084$33,068$31,170$29,381$27,698$24,407
7 years$29,769$27,771$25,902$24,156$22,526$19,382
8 years$25,785$23,805$21,967$20,264$18,687$15,689
9 years$22,688$20,726$18,920$17,260$15,737$12,884
10 years$20,212$18,269$16,495$14,879$13,409$10,698
11 years$18,187$16,264$14,522$12,949$11,532$8,960
12 years$16,501$14,598$12,888$11,358$9,994$7,557
13 years$15,075$13,192$11,514$10,027$8,715$6,409
14 years$13,855$11,991$10,346$8,901$7,639$5,462
15 years$12,797$10,954$9,341$7,938$6,726$4,672
16 years$11,873$10,050$8,469$7,108$5,945$4,009
17 years$11,059$9,256$7,706$6,386$5,271$3,450
18 years$10,336$8,553$7,035$5,755$4,687$2,976
19 years$9,689$7,927$6,440$5,200$4,177$2,571
20 years$9,108$7,366$5,910$4,710$3,731$2,226
21 years$8,584$6,861$5,436$4,275$3,339$1,930
22 years$8,107$6,404$5,011$3,887$2,993$1,675
23 years$7,672$5,990$4,626$3,540$2,687$1,455
24 years$7,275$5,612$4,279$3,228$2,415$1,265
25 years$6,909$5,267$3,963$2,948$2,173$1,101
26 years$6,573$4,950$3,675$2,696$1,957$959
27 years$6,262$4,658$3,413$2,468$1,765$836
28 years$5,973$4,390$3,173$2,261$1,592$729
29 years$5,705$4,141$2,952$2,073$1,438$636
30 years$5,455$3,911$2,750$1,903$1,299$555
31 years$5,222$3,697$2,564$1,747$1,175$484
32 years$5,004$3,498$2,392$1,606$1,062$423
33 years$4,799$3,313$2,234$1,477$962$369
34 years$4,607$3,140$2,087$1,359$871$322
35 years$4,427$2,978$1,951$1,251$789$282
36 years$4,256$2,827$1,825$1,152$714$246
37 years$4,096$2,685$1,708$1,061$648$215
38 years$3,944$2,551$1,600$978$587$188
39 years$3,800$2,426$1,499$902$532$164
40 years$3,664$2,308$1,405$832$483$144
41 years$3,535$2,197$1,317$768$438$126
42 years$3,412$2,093$1,236$708$397$110
43 years$3,295$1,994$1,160$654$361$96
44 years$3,184$1,900$1,088$604$327$84
45 years$3,078$1,812$1,022$558$297$74
46 years$2,977$1,729$960$515$270$64
47 years$2,881$1,650$902$476$245$56
48 years$2,789$1,575$847$440$223$49
49 years$2,701$1,504$797$406$202$43
50 years$2,617$1,437$749$376$184$38

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 $4,195 every year, while hoping to spend $59,772 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: 66/12/22 Blend
61$2,680,000$2,680,000$2,680,000$2,680,000
62$2,957,687$2,815,647$2,774,107$3,136,019
63$3,195,774$2,890,017$2,803,443$3,330,689
64$3,456,143$2,966,027$2,831,758$3,536,228
65$3,741,003$3,043,696$2,858,955$3,759,539
66$4,052,787$3,123,039$2,884,932$4,002,372
67$4,394,175$3,204,071$2,909,580$4,266,652
68$4,768,116$3,286,806$2,932,787$4,554,500
69$5,177,859$3,371,256$2,954,431$4,868,255
70$5,626,984$3,457,430$2,974,387$5,210,492
71$6,119,430$3,545,338$2,992,523$5,584,048
72$6,659,539$3,634,986$3,008,699$5,992,049
73$7,252,090$3,726,378$3,022,769$6,437,941
74$7,902,349$3,819,517$3,034,578$6,925,517
75$8,616,118$3,914,402$3,043,965$7,458,960
76$9,399,784$4,011,030$3,050,760$8,042,879
77$10,260,386$4,109,395$3,054,784$8,682,350
78$11,205,676$4,209,486$3,055,851$9,382,971
79$12,244,197$4,311,293$3,053,763$10,150,905
80$13,385,356$4,414,797$3,048,315$10,992,948
81$14,639,519$4,519,979$3,039,291$11,916,588
82$16,018,106$4,626,814$3,026,463$12,930,076
83$17,533,697$4,735,272$3,009,594$14,042,504
84$19,200,154$4,845,320$2,988,435$15,263,893
85$21,032,747$4,956,918$2,962,725$16,605,287
86$23,048,301$5,070,021$2,932,190$18,078,853
87$25,265,353$5,184,577$2,896,544$19,698,005
88$27,704,327$5,300,530$2,855,487$21,477,520
89$30,387,727$5,417,815$2,808,704$23,433,688
90$33,340,347$5,536,359$2,755,867$25,584,458
91$36,589,506$5,656,084$2,696,632$27,949,612
92$40,165,305$5,776,902$2,630,639$30,550,950
93$44,100,911$5,898,715$2,557,510$33,412,498
94$48,432,870$6,021,417$2,476,852$36,560,734
95$53,201,448$6,144,893$2,388,253$40,024,837
96$58,451,017$6,269,014$2,291,280$43,836,965
97$64,230,468$6,393,642$2,185,485$48,032,557
98$70,593,671$6,518,627$2,070,395$52,650,671
99$77,599,990$6,643,804$1,945,517$57,734,349
100$85,314,836$6,768,996$1,810,338$63,331,027