Can I retire at age 62 with 2,730,000?

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 $2,730,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$225,441$223,433$221,474$219,561$217,694$212,518
2 years$111,604$109,526$107,511$105,558$103,664$98,479
3 years$73,664$71,576$69,567$67,632$65,769$60,737
4 years$54,697$52,616$50,627$48,725$46,907$42,068
5 years$43,320$41,252$39,289$37,426$35,658$31,025
6 years$35,738$33,685$31,751$29,930$28,215$23,792
7 years$30,324$28,289$26,385$24,607$22,946$18,735
8 years$26,266$24,249$22,377$20,642$19,036$15,034
9 years$23,111$21,113$19,273$17,582$16,031$12,235
10 years$20,589$18,610$16,803$15,156$13,659$10,065
11 years$18,526$16,567$14,793$13,190$11,747$8,351
12 years$16,809$14,870$13,128$11,570$10,180$6,974
13 years$15,357$13,438$11,729$10,214$8,877$5,857
14 years$14,113$12,215$10,539$9,067$7,782$4,940
15 years$13,036$11,158$9,515$8,086$6,852$4,182
16 years$12,095$10,238$8,627$7,240$6,056$3,551
17 years$11,265$9,429$7,850$6,505$5,369$3,023
18 years$10,529$8,712$7,166$5,863$4,774$2,579
19 years$9,870$8,075$6,560$5,297$4,255$2,204
20 years$9,278$7,503$6,021$4,798$3,801$1,886
21 years$8,744$6,989$5,538$4,354$3,401$1,617
22 years$8,258$6,524$5,104$3,959$3,049$1,387
23 years$7,816$6,102$4,713$3,606$2,737$1,191
24 years$7,410$5,717$4,358$3,289$2,460$1,023
25 years$7,038$5,365$4,037$3,003$2,214$880
26 years$6,695$5,042$3,744$2,746$1,994$757
27 years$6,378$4,745$3,477$2,514$1,798$652
28 years$6,085$4,472$3,232$2,303$1,622$562
29 years$5,811$4,218$3,008$2,112$1,465$484
30 years$5,557$3,984$2,801$1,938$1,323$417
31 years$5,320$3,766$2,612$1,780$1,196$360
32 years$5,097$3,563$2,437$1,636$1,082$310
33 years$4,889$3,375$2,275$1,504$979$267
34 years$4,693$3,198$2,126$1,384$887$231
35 years$4,509$3,034$1,987$1,274$803$199
36 years$4,336$2,879$1,859$1,173$728$172
37 years$4,172$2,735$1,740$1,081$660$148
38 years$4,017$2,599$1,630$997$598$128
39 years$3,871$2,471$1,527$919$542$110
40 years$3,732$2,351$1,431$848$492$95
41 years$3,601$2,238$1,342$782$446$82
42 years$3,476$2,132$1,259$722$405$71
43 years$3,357$2,031$1,181$666$367$61
44 years$3,244$1,936$1,109$615$334$53
45 years$3,136$1,846$1,041$568$303$46
46 years$3,033$1,761$978$525$275$39
47 years$2,935$1,681$919$485$250$34
48 years$2,841$1,604$863$448$227$29
49 years$2,751$1,532$811$414$206$25
50 years$2,665$1,464$763$383$187$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,730,000, adding $6,910 every year, while hoping to spend $42,577 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: 23/48/29 Blend
61$2,730,000$2,730,000$2,730,000$2,730,000
62$3,015,588$2,870,898$2,828,583$3,057,250
63$3,277,876$2,966,270$2,878,039$3,189,546
64$3,565,491$3,064,889$2,927,724$3,327,074
65$3,880,970$3,166,868$2,977,602$3,473,417
66$4,227,110$3,272,325$3,027,633$3,629,331
67$4,606,991$3,381,384$3,077,774$3,795,645
68$5,024,003$3,494,172$3,127,979$3,973,271
69$5,481,885$3,610,819$3,178,199$4,163,206
70$5,984,751$3,731,464$3,228,383$4,366,548
71$6,537,137$3,856,247$3,278,476$4,584,500
72$7,144,038$3,985,315$3,328,417$4,818,385
73$7,810,955$4,118,822$3,378,145$5,069,657
74$8,543,953$4,256,924$3,427,593$5,339,910
75$9,349,709$4,399,786$3,476,690$5,630,900
76$10,235,582$4,547,578$3,525,362$5,944,555
77$11,209,678$4,700,476$3,573,528$6,282,994
78$12,280,929$4,858,664$3,621,105$6,648,548
79$13,459,176$5,022,330$3,668,004$7,043,781
80$14,755,260$5,191,672$3,714,130$7,471,511
81$16,181,126$5,366,894$3,759,384$7,934,839
82$17,749,937$5,548,208$3,803,659$8,437,177
83$19,476,195$5,735,834$3,846,846$8,982,277
84$21,375,877$5,930,001$3,888,826$9,574,269
85$23,466,590$6,130,944$3,929,475$10,217,699
86$25,767,733$6,338,911$3,968,662$10,917,567
87$28,300,679$6,554,155$4,006,251$11,679,378
88$31,088,983$6,776,943$4,042,094$12,509,193
89$34,158,595$7,007,549$4,076,040$13,413,681
90$37,538,111$7,246,258$4,107,927$14,400,187
91$41,259,041$7,493,368$4,137,585$15,476,794
92$45,356,105$7,749,185$4,164,836$16,652,405
93$49,867,562$8,014,029$4,189,493$17,936,822
94$54,835,569$8,288,233$4,211,357$19,340,838
95$60,306,581$8,572,140$4,230,221$20,876,340
96$66,331,786$8,866,108$4,245,867$22,556,415
97$72,967,591$9,170,511$4,258,066$24,395,480
98$80,276,152$9,485,732$4,266,578$26,409,412
99$88,325,962$9,812,175$4,271,150$28,615,696
100$97,192,493$10,150,254$4,271,517$31,033,594