Can I retire at age 62 with 2,780,000?

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 $2,780,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$229,570$227,525$225,530$223,583$221,681$216,586
2 years$113,648$111,532$109,481$107,492$105,562$100,457
3 years$75,013$72,887$70,841$68,871$66,973$62,018
4 years$55,699$53,580$51,554$49,618$47,766$42,998
5 years$44,114$42,007$40,008$38,111$36,311$31,744
6 years$36,393$34,302$32,333$30,478$28,732$24,370
7 years$30,880$28,807$26,869$25,057$23,366$19,212
8 years$26,747$24,693$22,787$21,020$19,385$15,435
9 years$23,534$21,500$19,626$17,904$16,325$12,576
10 years$20,966$18,951$17,110$15,434$13,909$10,359
11 years$18,866$16,871$15,064$13,432$11,963$8,605
12 years$17,117$15,142$13,369$11,782$10,367$7,196
13 years$15,638$13,684$11,944$10,401$9,040$6,051
14 years$14,372$12,439$10,732$9,233$7,924$5,111
15 years$13,275$11,363$9,689$8,234$6,977$4,333
16 years$12,316$10,425$8,785$7,373$6,166$3,685
17 years$11,472$9,601$7,994$6,625$5,468$3,141
18 years$10,721$8,872$7,297$5,970$4,862$2,684
19 years$10,051$8,222$6,680$5,395$4,333$2,297
20 years$9,448$7,641$6,131$4,886$3,870$1,969
21 years$8,904$7,117$5,639$4,434$3,464$1,690
22 years$8,409$6,643$5,197$4,032$3,105$1,452
23 years$7,959$6,213$4,799$3,672$2,787$1,249
24 years$7,546$5,822$4,438$3,349$2,505$1,075
25 years$7,167$5,463$4,111$3,058$2,254$926
26 years$6,818$5,135$3,812$2,796$2,030$798
27 years$6,495$4,832$3,540$2,560$1,831$688
28 years$6,196$4,553$3,291$2,345$1,652$594
29 years$5,918$4,296$3,063$2,151$1,491$512
30 years$5,659$4,057$2,853$1,974$1,348$442
31 years$5,417$3,835$2,659$1,813$1,218$382
32 years$5,191$3,629$2,481$1,666$1,102$330
33 years$4,979$3,436$2,317$1,532$997$285
34 years$4,779$3,257$2,165$1,409$903$246
35 years$4,592$3,089$2,024$1,298$818$213
36 years$4,415$2,932$1,893$1,195$741$184
37 years$4,249$2,785$1,772$1,101$672$159
38 years$4,091$2,647$1,659$1,015$609$137
39 years$3,942$2,517$1,555$936$552$119
40 years$3,801$2,394$1,457$863$501$103
41 years$3,667$2,279$1,366$796$454$89
42 years$3,539$2,171$1,282$735$412$77
43 years$3,418$2,068$1,203$678$374$66
44 years$3,303$1,971$1,129$626$340$57
45 years$3,193$1,880$1,060$578$308$50
46 years$3,088$1,793$996$534$280$43
47 years$2,989$1,711$935$494$254$37
48 years$2,893$1,634$879$456$231$32
49 years$2,802$1,560$826$422$210$28
50 years$2,714$1,490$777$390$190$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,780,000, adding $5,864 every year, while hoping to spend $28,130 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: 71/19/10 Blend
61$2,780,000$2,780,000$2,780,000$2,780,000
62$3,069,609$2,922,269$2,879,179$3,281,209
63$3,352,779$3,035,530$2,945,701$3,535,277
64$3,663,889$3,153,398$3,013,509$3,809,277
65$4,005,761$3,276,069$3,082,616$4,108,438
66$4,381,500$3,403,748$3,153,035$4,435,235
67$4,794,529$3,536,648$3,224,779$4,792,389
68$5,248,621$3,674,993$3,297,858$5,182,896
69$5,747,928$3,819,017$3,372,285$5,610,055
70$6,297,030$3,968,961$3,448,070$6,077,498
71$6,900,969$4,125,082$3,525,221$6,589,221
72$7,565,301$4,287,644$3,603,749$7,149,627
73$8,296,148$4,456,925$3,683,662$7,763,561
74$9,100,256$4,633,216$3,764,966$8,436,360
75$9,985,058$4,816,818$3,847,667$9,173,900
76$10,958,741$5,008,050$3,931,771$9,982,652
77$12,030,328$5,207,240$4,017,282$10,869,742
78$13,209,763$5,414,736$4,104,202$11,843,018
79$14,507,998$5,630,898$4,192,532$12,911,123
80$15,937,105$5,856,103$4,282,273$14,083,577
81$17,510,383$6,090,745$4,373,422$15,370,864
82$19,242,488$6,335,238$4,465,978$16,784,533
83$21,149,568$6,590,011$4,559,935$18,337,305
84$23,249,418$6,855,515$4,655,286$20,043,190
85$25,561,643$7,132,220$4,752,023$21,917,623
86$28,107,851$7,420,619$4,850,136$23,977,606
87$30,911,847$7,721,225$4,949,611$26,241,868
88$33,999,867$8,034,576$5,050,434$28,731,039
89$37,400,817$8,361,234$5,152,588$31,467,848
90$41,146,553$8,701,787$5,256,052$34,477,335
91$45,272,176$9,056,849$5,360,804$37,787,084
92$49,816,365$9,427,062$5,466,818$41,427,483
93$54,821,744$9,813,098$5,574,066$45,432,014
94$60,335,281$10,215,659$5,682,517$49,837,562
95$66,408,734$10,635,480$5,792,135$54,684,766
96$73,099,135$11,073,328$5,902,881$60,018,399
97$80,469,333$11,530,007$6,014,714$65,887,791
98$88,588,585$12,006,358$6,127,587$72,347,293
99$97,533,209$12,503,258$6,241,450$79,456,789
100$107,387,305$13,021,627$6,356,247$87,282,256