Can I retire at age 62 with 2,760,000?

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 $2,760,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.4%
1 years$227,918$225,888$223,907$221,974$220,086$213,469
2 years$112,831$110,729$108,693$106,718$104,803$98,192
3 years$74,473$72,363$70,331$68,375$66,491$60,094
4 years$55,298$53,194$51,183$49,261$47,422$41,287
5 years$43,796$41,705$39,720$37,837$36,050$30,194
6 years$36,131$34,055$32,100$30,258$28,525$22,953
7 years$30,658$28,600$26,675$24,877$23,198$17,911
8 years$26,555$24,515$22,623$20,869$19,245$14,239
9 years$23,365$21,345$19,485$17,776$16,207$11,476
10 years$20,815$18,814$16,987$15,323$13,809$9,347
11 years$18,730$16,749$14,955$13,335$11,877$7,676
12 years$16,993$15,033$13,273$11,697$10,292$6,344
13 years$15,525$13,586$11,858$10,327$8,975$5,270
14 years$14,268$12,349$10,655$9,167$7,867$4,397
15 years$13,179$11,281$9,620$8,175$6,927$3,680
16 years$12,228$10,350$8,722$7,320$6,122$3,090
17 years$11,389$9,532$7,936$6,577$5,428$2,600
18 years$10,644$8,808$7,245$5,927$4,827$2,192
19 years$9,979$8,163$6,632$5,356$4,302$1,851
20 years$9,380$7,586$6,087$4,851$3,843$1,565
21 years$8,840$7,066$5,599$4,402$3,439$1,325
22 years$8,349$6,596$5,160$4,003$3,082$1,122
23 years$7,901$6,169$4,764$3,645$2,767$952
24 years$7,492$5,780$4,406$3,325$2,487$808
25 years$7,116$5,424$4,081$3,036$2,238$686
26 years$6,769$5,098$3,785$2,776$2,016$582
27 years$6,449$4,798$3,515$2,541$1,817$495
28 years$6,151$4,521$3,267$2,328$1,640$421
29 years$5,875$4,265$3,041$2,135$1,481$358
30 years$5,618$4,028$2,832$1,959$1,338$304
31 years$5,378$3,807$2,640$1,800$1,210$259
32 years$5,153$3,603$2,464$1,654$1,094$220
33 years$4,943$3,412$2,300$1,521$990$188
34 years$4,745$3,234$2,149$1,399$897$160
35 years$4,559$3,067$2,009$1,288$812$136
36 years$4,384$2,911$1,880$1,186$736$116
37 years$4,218$2,765$1,759$1,093$667$98
38 years$4,062$2,628$1,648$1,008$605$84
39 years$3,914$2,499$1,544$929$548$71
40 years$3,773$2,377$1,447$857$497$61
41 years$3,640$2,263$1,357$791$451$52
42 years$3,514$2,155$1,273$730$409$44
43 years$3,394$2,053$1,194$673$372$38
44 years$3,279$1,957$1,121$622$337$32
45 years$3,170$1,866$1,052$574$306$27
46 years$3,066$1,780$989$530$278$23
47 years$2,967$1,699$929$490$252$20
48 years$2,872$1,622$873$453$229$17
49 years$2,782$1,549$820$419$208$14
50 years$2,695$1,480$771$387$189$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,760,000, adding $3,015 every year, while hoping to spend $55,870 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: 54/22/24 Blend
61$2,760,000$2,760,000$2,760,000$2,760,000
62$3,044,630$2,898,350$2,855,570$3,188,745
63$3,295,737$2,980,924$2,891,786$3,370,836
64$3,570,584$3,065,671$2,927,343$3,562,909
65$3,871,535$3,152,640$2,962,160$3,770,847
66$4,201,190$3,241,878$2,996,151$3,996,191
67$4,562,414$3,333,433$3,029,225$4,240,633
68$4,958,364$3,427,355$3,061,288$4,506,040
69$5,392,514$3,523,692$3,092,238$4,794,465
70$5,868,691$3,622,494$3,121,969$5,108,171
71$6,391,113$3,723,811$3,150,369$5,449,652
72$6,964,421$3,827,692$3,177,322$5,821,653
73$7,593,732$3,934,189$3,202,701$6,227,198
74$8,284,678$4,043,350$3,226,378$6,669,621
75$9,043,468$4,155,227$3,248,214$7,152,591
76$9,876,937$4,269,868$3,268,064$7,680,153
77$10,792,617$4,387,325$3,285,778$8,256,763
78$11,798,807$4,507,646$3,301,194$8,887,332
79$12,904,646$4,630,881$3,314,144$9,577,267
80$14,120,204$4,757,079$3,324,453$10,332,530
81$15,456,578$4,886,289$3,331,935$11,159,688
82$16,925,989$5,018,557$3,336,395$12,065,978
83$18,541,904$5,153,931$3,337,628$13,059,374
84$20,319,161$5,292,456$3,335,422$14,148,663
85$22,274,106$5,434,178$3,329,549$15,343,527
86$24,424,752$5,579,139$3,319,776$16,654,637
87$26,790,941$5,727,381$3,305,853$18,093,750
88$29,394,541$5,878,946$3,287,522$19,673,822
89$32,259,641$6,033,872$3,264,512$21,409,133
90$35,412,788$6,192,195$3,236,536$23,315,416
91$38,883,230$6,353,950$3,203,297$25,410,012
92$42,703,194$6,519,168$3,164,483$27,712,027
93$46,908,192$6,687,880$3,119,765$30,242,521
94$51,537,351$6,860,110$3,068,801$33,024,698
95$56,633,787$7,035,882$3,011,232$36,084,133
96$62,245,008$7,215,215$2,946,683$39,449,007
97$68,423,363$7,398,124$2,874,761$43,150,380
98$75,226,535$7,584,621$2,795,054$47,222,478
99$82,718,086$7,774,712$2,707,133$51,703,021
100$90,968,056$7,968,398$2,610,548$56,633,578