Can I retire at age 62 with 2,700,000?

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 $2,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$222,963$220,977$219,040$217,149$215,302$207,087
2 years$110,378$108,322$106,330$104,398$102,525$94,345
3 years$72,854$70,790$68,803$66,889$65,046$57,158
4 years$54,096$52,038$50,071$48,190$46,391$38,857
5 years$42,844$40,798$38,857$37,014$35,266$28,103
6 years$35,345$33,315$31,402$29,601$27,905$21,119
7 years$29,991$27,978$26,095$24,336$22,694$16,283
8 years$25,977$23,982$22,131$20,415$18,827$12,785
9 years$22,857$20,881$19,061$17,389$15,855$10,173
10 years$20,362$18,405$16,618$14,990$13,509$8,177
11 years$18,323$16,385$14,630$13,045$11,618$6,624
12 years$16,624$14,707$12,984$11,443$10,068$5,398
13 years$15,188$13,290$11,600$10,102$8,780$4,421
14 years$13,958$12,081$10,423$8,968$7,696$3,635
15 years$12,893$11,036$9,411$7,997$6,776$2,998
16 years$11,962$10,125$8,532$7,161$5,989$2,478
17 years$11,141$9,325$7,764$6,434$5,310$2,053
18 years$10,413$8,617$7,087$5,798$4,722$1,704
19 years$9,762$7,986$6,488$5,239$4,208$1,416
20 years$9,176$7,421$5,954$4,745$3,759$1,178
21 years$8,648$6,912$5,477$4,307$3,364$981
22 years$8,167$6,452$5,048$3,916$3,015$818
23 years$7,730$6,035$4,661$3,566$2,707$682
24 years$7,329$5,654$4,310$3,252$2,433$569
25 years$6,961$5,306$3,992$2,970$2,189$475
26 years$6,622$4,987$3,703$2,716$1,972$397
27 years$6,308$4,693$3,438$2,486$1,778$332
28 years$6,018$4,422$3,196$2,278$1,604$277
29 years$5,748$4,172$2,974$2,089$1,449$232
30 years$5,496$3,940$2,771$1,917$1,309$194
31 years$5,261$3,725$2,583$1,760$1,183$162
32 years$5,041$3,524$2,410$1,618$1,070$135
33 years$4,835$3,338$2,250$1,488$969$113
34 years$4,642$3,163$2,102$1,369$877$95
35 years$4,460$3,000$1,966$1,260$794$79
36 years$4,288$2,848$1,839$1,161$720$66
37 years$4,126$2,705$1,721$1,069$652$55
38 years$3,973$2,570$1,612$986$591$46
39 years$3,829$2,444$1,510$909$536$39
40 years$3,691$2,325$1,415$838$486$32
41 years$3,561$2,214$1,327$773$441$27
42 years$3,437$2,108$1,245$714$400$23
43 years$3,320$2,009$1,168$659$363$19
44 years$3,208$1,915$1,097$608$330$16
45 years$3,101$1,826$1,030$562$299$13
46 years$3,000$1,742$967$519$272$11
47 years$2,903$1,662$909$479$247$9
48 years$2,810$1,587$854$443$224$8
49 years$2,721$1,515$802$409$204$7
50 years$2,636$1,447$754$378$185$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,700,000, adding $6,327 every year, while hoping to spend $45,099 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: 74/7/19 Blend
61$2,700,000$2,700,000$2,700,000$2,700,000
62$2,981,926$2,838,826$2,796,976$3,188,828
63$3,238,098$2,929,944$2,842,690$3,418,047
64$3,518,887$3,024,015$2,888,424$3,663,042
65$3,826,758$3,121,136$2,934,130$3,930,344
66$4,164,424$3,221,407$2,979,760$4,222,163
67$4,534,872$3,324,933$3,025,259$4,540,935
68$4,941,395$3,431,821$3,070,571$4,889,338
69$5,387,618$3,542,181$3,115,636$5,270,328
70$5,877,535$3,656,129$3,160,390$5,687,156
71$6,415,546$3,773,781$3,204,765$6,143,406
72$7,006,497$3,895,261$3,248,690$6,643,026
73$7,655,727$4,020,696$3,292,088$7,190,362
74$8,369,116$4,150,216$3,334,879$7,790,206
75$9,153,146$4,283,956$3,376,977$8,447,835
76$10,014,953$4,422,057$3,418,292$9,169,063
77$10,962,403$4,564,662$3,458,729$9,960,294
78$12,004,159$4,711,922$3,498,188$10,828,586
79$13,149,768$4,863,990$3,536,562$11,781,713
80$14,409,746$5,021,027$3,573,738$12,828,243
81$15,795,681$5,183,198$3,609,599$13,977,614
82$17,320,339$5,350,674$3,644,019$15,240,224
83$18,997,788$5,523,631$3,676,868$16,627,533
84$20,843,526$5,702,253$3,708,007$18,152,166
85$22,874,630$5,886,727$3,737,290$19,828,034
86$25,109,916$6,077,251$3,764,563$21,670,466
87$27,570,117$6,274,026$3,789,665$23,696,352
88$30,278,077$6,477,261$3,812,427$25,924,304
89$33,258,966$6,687,172$3,832,669$28,374,828
90$36,540,521$6,903,983$3,850,203$31,070,522
91$40,153,302$7,127,927$3,864,833$34,036,288
92$44,130,985$7,359,241$3,876,351$37,299,562
93$48,510,675$7,598,174$3,884,539$40,890,582
94$53,333,262$7,844,982$3,889,168$44,842,664
95$58,643,799$8,099,931$3,890,000$49,192,522
96$64,491,933$8,363,294$3,886,782$53,980,613
97$70,932,371$8,635,356$3,879,249$59,251,518
98$78,025,394$8,916,410$3,867,125$65,054,364
99$85,837,430$9,206,760$3,850,120$71,443,286
100$94,441,677$9,506,720$3,827,928$78,477,940