Can I retire at age 62 with 2,790,000?

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 $2,790,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$230,396$228,343$226,341$224,387$222,479$218,076
2 years$114,057$111,933$109,874$107,878$105,942$101,525
3 years$75,283$73,149$71,096$69,119$67,214$62,920
4 years$55,899$53,773$51,740$49,796$47,938$43,800
5 years$44,272$42,158$40,152$38,248$36,441$32,472
6 years$36,524$34,425$32,449$30,587$28,835$25,038
7 years$30,991$28,910$26,965$25,148$23,450$19,827
8 years$26,843$24,782$22,869$21,096$19,454$16,004
9 years$23,619$21,577$19,697$17,969$16,383$13,103
10 years$21,041$19,019$17,172$15,489$13,960$10,846
11 years$18,933$16,931$15,118$13,480$12,006$9,055
12 years$17,178$15,197$13,417$11,824$10,404$7,613
13 years$15,694$13,733$11,987$10,439$9,072$6,436
14 years$14,423$12,483$10,770$9,266$7,953$5,465
15 years$13,323$11,404$9,724$8,264$7,002$4,659
16 years$12,361$10,463$8,816$7,400$6,189$3,984
17 years$11,513$9,636$8,023$6,648$5,487$3,416
18 years$10,760$8,904$7,324$5,992$4,879$2,936
19 years$10,087$8,252$6,704$5,414$4,349$2,528
20 years$9,482$7,668$6,153$4,903$3,884$2,180
21 years$8,936$7,143$5,660$4,450$3,476$1,882
22 years$8,440$6,667$5,216$4,046$3,116$1,627
23 years$7,987$6,236$4,816$3,685$2,797$1,408
24 years$7,573$5,843$4,454$3,361$2,514$1,220
25 years$7,193$5,483$4,125$3,069$2,262$1,058
26 years$6,843$5,153$3,826$2,806$2,038$917
27 years$6,519$4,850$3,553$2,569$1,837$796
28 years$6,218$4,570$3,303$2,354$1,658$691
29 years$5,939$4,311$3,074$2,158$1,497$601
30 years$5,679$4,071$2,863$1,981$1,353$522
31 years$5,436$3,849$2,669$1,819$1,223$454
32 years$5,209$3,642$2,490$1,672$1,106$394
33 years$4,996$3,449$2,325$1,537$1,001$343
34 years$4,797$3,269$2,173$1,415$906$298
35 years$4,608$3,100$2,031$1,302$821$260
36 years$4,431$2,943$1,900$1,199$744$226
37 years$4,264$2,795$1,778$1,105$674$197
38 years$4,106$2,656$1,665$1,018$611$171
39 years$3,956$2,526$1,560$939$554$149
40 years$3,814$2,403$1,463$866$503$130
41 years$3,680$2,287$1,371$799$456$113
42 years$3,552$2,178$1,286$738$414$98
43 years$3,431$2,076$1,207$681$376$86
44 years$3,315$1,978$1,133$629$341$75
45 years$3,205$1,887$1,064$581$309$65
46 years$3,100$1,800$999$536$281$57
47 years$2,999$1,718$939$495$255$49
48 years$2,903$1,640$882$458$232$43
49 years$2,812$1,566$829$423$210$37
50 years$2,724$1,496$780$391$191$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,790,000, adding $6,319 every year, while hoping to spend $21,821 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: 78/8/14 Blend
61$2,790,000$2,790,000$2,790,000$2,790,000
62$3,081,098$2,933,228$2,889,983$3,312,122
63$3,372,153$3,053,739$2,963,580$3,585,685
64$3,692,164$3,179,423$3,038,911$3,882,265
65$4,044,061$3,310,512$3,116,012$4,206,965
66$4,431,074$3,447,246$3,194,917$4,562,586
67$4,856,760$3,589,877$3,275,663$4,952,212
68$5,325,037$3,738,669$3,358,286$5,379,239
69$5,840,225$3,893,898$3,442,822$5,847,408
70$6,407,081$4,055,852$3,529,310$6,360,837
71$7,030,848$4,224,833$3,617,786$6,924,065
72$7,717,302$4,401,157$3,708,289$7,542,088
73$8,472,807$4,585,155$3,800,858$8,220,410
74$9,304,377$4,777,170$3,895,529$8,965,094
75$10,219,738$4,977,566$3,992,344$9,782,817
76$11,227,404$5,186,720$4,091,341$10,680,937
77$12,336,758$5,405,028$4,192,560$11,667,555
78$13,558,137$5,632,904$4,296,040$12,751,600
79$14,902,933$5,870,782$4,401,823$13,942,903
80$16,383,696$6,119,114$4,509,948$15,252,298
81$18,014,258$6,378,376$4,620,456$16,691,720
82$19,809,859$6,649,063$4,733,388$18,274,316
83$21,787,293$6,931,696$4,848,785$20,014,570
84$23,965,065$7,226,817$4,966,688$21,928,442
85$26,363,567$7,534,997$5,087,138$24,033,513
86$29,005,270$7,856,831$5,210,176$26,349,153
87$31,914,934$8,192,942$5,335,843$28,896,705
88$35,119,844$8,543,983$5,464,181$31,699,682
89$38,650,067$8,910,637$5,595,229$34,783,991
90$42,538,735$9,293,619$5,729,030$38,178,178
91$46,822,357$9,693,677$5,865,624$41,913,694
92$51,541,166$10,111,596$6,005,051$46,025,192
93$56,739,495$10,548,195$6,147,350$50,550,856
94$62,466,200$11,004,332$6,292,563$55,532,755
95$68,775,115$11,480,908$6,440,727$61,017,248
96$75,725,568$11,978,863$6,591,882$67,055,411
97$83,382,931$12,499,182$6,746,065$73,703,527
98$91,819,245$13,042,898$6,903,314$81,023,612
99$101,113,899$13,611,090$7,063,665$89,083,999
100$111,354,373$14,204,890$7,227,155$97,959,985