Can I retire at age 62 with 2,800,000?

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$231,221$229,162$227,152$225,191$223,276$220,212
2 years$114,466$112,334$110,268$108,265$106,322$103,241
3 years$75,553$73,412$71,351$69,366$67,455$64,452
4 years$56,100$53,965$51,925$49,975$48,109$45,208
5 years$44,431$42,309$40,296$38,385$36,572$33,780
6 years$36,655$34,549$32,565$30,697$28,938$26,260
7 years$31,102$29,014$27,062$25,238$23,535$20,970
8 years$26,940$24,870$22,951$21,171$19,524$17,073
9 years$23,704$21,654$19,767$18,033$16,442$14,104
10 years$21,117$19,087$17,234$15,545$14,010$11,782
11 years$19,001$16,992$15,172$13,529$12,049$9,930
12 years$17,240$15,251$13,465$11,866$10,441$8,429
13 years$15,750$13,783$12,030$10,476$9,105$7,197
14 years$14,475$12,528$10,809$9,300$7,981$6,174
15 years$13,370$11,445$9,759$8,294$7,027$5,317
16 years$12,405$10,500$8,848$7,426$6,211$4,595
17 years$11,554$9,670$8,051$6,672$5,507$3,982
18 years$10,799$8,936$7,350$6,013$4,896$3,460
19 years$10,123$8,282$6,728$5,433$4,364$3,012
20 years$9,516$7,696$6,175$4,921$3,898$2,627
21 years$8,968$7,168$5,680$4,466$3,489$2,294
22 years$8,470$6,691$5,235$4,061$3,127$2,006
23 years$8,016$6,258$4,833$3,698$2,807$1,757
24 years$7,601$5,864$4,470$3,373$2,523$1,540
25 years$7,219$5,503$4,140$3,080$2,270$1,351
26 years$6,867$5,172$3,840$2,816$2,045$1,186
27 years$6,542$4,867$3,566$2,578$1,844$1,042
28 years$6,241$4,586$3,315$2,362$1,664$915
29 years$5,961$4,327$3,085$2,166$1,502$805
30 years$5,700$4,086$2,873$1,988$1,357$708
31 years$5,456$3,863$2,679$1,826$1,227$623
32 years$5,228$3,655$2,499$1,678$1,110$549
33 years$5,014$3,461$2,334$1,543$1,005$483
34 years$4,814$3,280$2,180$1,420$910$426
35 years$4,625$3,111$2,038$1,307$824$375
36 years$4,447$2,953$1,907$1,204$746$331
37 years$4,279$2,805$1,785$1,109$677$291
38 years$4,120$2,666$1,671$1,022$613$257
39 years$3,970$2,535$1,566$942$556$227
40 years$3,828$2,412$1,468$869$504$200
41 years$3,693$2,296$1,376$802$458$176
42 years$3,565$2,186$1,291$740$415$155
43 years$3,443$2,083$1,211$683$377$137
44 years$3,327$1,986$1,137$631$342$121
45 years$3,216$1,893$1,068$583$311$107
46 years$3,111$1,806$1,003$538$282$94
47 years$3,010$1,724$942$497$256$83
48 years$2,914$1,646$885$459$233$73
49 years$2,822$1,571$832$425$211$65
50 years$2,734$1,501$782$392$192$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,800,000, adding $3,464 every year, while hoping to spend $23,452 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: 46/26/28 Blend
61$2,800,000$2,800,000$2,800,000$2,800,000
62$3,089,173$2,940,773$2,897,373$3,206,225
63$3,379,316$3,059,918$2,969,482$3,408,637
64$3,698,268$3,184,115$3,043,221$3,625,586
65$4,048,941$3,313,588$3,118,620$3,860,536
66$4,434,547$3,448,568$3,195,708$4,115,188
67$4,858,623$3,589,299$3,274,515$4,391,408
68$5,325,064$3,736,036$3,355,073$4,691,251
69$5,838,164$3,889,046$3,437,412$5,016,974
70$6,402,654$4,048,606$3,521,562$5,371,060
71$7,023,745$4,215,008$3,607,555$5,756,241
72$7,707,180$4,388,557$3,695,421$6,175,517
73$8,459,287$4,569,570$3,785,192$6,632,194
74$9,287,036$4,758,381$3,876,898$7,129,905
75$10,198,111$4,955,339$3,970,571$7,672,649
76$11,200,974$5,160,806$4,066,241$8,264,823
77$12,304,953$5,375,166$4,163,940$8,911,270
78$13,520,325$5,598,815$4,263,699$9,617,316
79$14,858,413$5,832,172$4,365,547$10,388,825
80$16,331,695$6,075,672$4,469,517$11,232,249
81$17,953,920$6,329,773$4,575,638$12,154,692
82$19,740,239$6,594,950$4,683,940$13,163,973
83$21,707,345$6,871,704$4,794,454$14,268,698
84$23,873,634$7,160,558$4,907,208$15,478,345
85$26,259,377$7,462,057$5,022,232$16,803,347
86$28,886,911$7,776,776$5,139,554$18,255,191
87$31,780,849$8,105,311$5,259,203$19,846,525
88$34,968,314$8,448,290$5,381,205$21,591,278
89$38,479,194$8,806,368$5,505,587$23,504,787
90$42,346,424$9,180,232$5,632,376$25,603,943
91$46,606,295$9,570,599$5,761,596$27,907,344
92$51,298,799$9,978,221$5,893,272$30,435,477
93$56,468,007$10,403,884$6,027,427$33,210,902
94$62,162,481$10,848,411$6,164,083$36,258,469
95$68,435,736$11,312,665$6,303,262$39,605,545
96$75,346,742$11,797,547$6,444,982$43,282,276
97$82,960,483$12,304,000$6,589,263$47,321,867
98$91,348,570$12,833,014$6,736,121$51,760,893
99$100,589,915$13,385,622$6,885,571$56,639,642
100$110,771,476$13,962,907$7,037,627$62,002,495