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

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 $2,800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$231,221$229,162$227,152$225,191$223,276$219,849
2 years$114,466$112,334$110,268$108,265$106,322$102,877
3 years$75,553$73,412$71,351$69,366$67,455$64,100
4 years$56,100$53,965$51,925$49,975$48,109$44,870
5 years$44,431$42,309$40,296$38,385$36,572$33,458
6 years$36,655$34,549$32,565$30,697$28,938$25,953
7 years$31,102$29,014$27,062$25,238$23,535$20,679
8 years$26,940$24,870$22,951$21,171$19,524$16,797
9 years$23,704$21,654$19,767$18,033$16,442$13,843
10 years$21,117$19,087$17,234$15,545$14,010$11,536
11 years$19,001$16,992$15,172$13,529$12,049$9,699
12 years$17,240$15,251$13,465$11,866$10,441$8,211
13 years$15,750$13,783$12,030$10,476$9,105$6,992
14 years$14,475$12,528$10,809$9,300$7,981$5,982
15 years$13,370$11,445$9,759$8,294$7,027$5,139
16 years$12,405$10,500$8,848$7,426$6,211$4,428
17 years$11,554$9,670$8,051$6,672$5,507$3,827
18 years$10,799$8,936$7,350$6,013$4,896$3,315
19 years$10,123$8,282$6,728$5,433$4,364$2,878
20 years$9,516$7,696$6,175$4,921$3,898$2,502
21 years$8,968$7,168$5,680$4,466$3,489$2,179
22 years$8,470$6,691$5,235$4,061$3,127$1,900
23 years$8,016$6,258$4,833$3,698$2,807$1,658
24 years$7,601$5,864$4,470$3,373$2,523$1,449
25 years$7,219$5,503$4,140$3,080$2,270$1,267
26 years$6,867$5,172$3,840$2,816$2,045$1,109
27 years$6,542$4,867$3,566$2,578$1,844$971
28 years$6,241$4,586$3,315$2,362$1,664$850
29 years$5,961$4,327$3,085$2,166$1,502$745
30 years$5,700$4,086$2,873$1,988$1,357$654
31 years$5,456$3,863$2,679$1,826$1,227$573
32 years$5,228$3,655$2,499$1,678$1,110$503
33 years$5,014$3,461$2,334$1,543$1,005$442
34 years$4,814$3,280$2,180$1,420$910$388
35 years$4,625$3,111$2,038$1,307$824$340
36 years$4,447$2,953$1,907$1,204$746$299
37 years$4,279$2,805$1,785$1,109$677$263
38 years$4,120$2,666$1,671$1,022$613$231
39 years$3,970$2,535$1,566$942$556$203
40 years$3,828$2,412$1,468$869$504$178
41 years$3,693$2,296$1,376$802$458$157
42 years$3,565$2,186$1,291$740$415$138
43 years$3,443$2,083$1,211$683$377$121
44 years$3,327$1,986$1,137$631$342$106
45 years$3,216$1,893$1,068$583$311$94
46 years$3,111$1,806$1,003$538$282$82
47 years$3,010$1,724$942$497$256$72
48 years$2,914$1,646$885$459$233$64
49 years$2,822$1,571$832$425$211$56
50 years$2,734$1,501$782$392$192$49

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 $4,176 every year, while hoping to spend $42,211 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: 41/36/23 Blend
61$2,800,000$2,800,000$2,800,000$2,800,000
62$3,089,908$2,941,508$2,898,108$3,195,518
63$3,360,166$3,040,729$2,950,282$3,370,804
64$3,656,576$3,143,398$3,002,790$3,556,077
65$3,981,760$3,249,638$3,055,597$3,755,773
66$4,338,609$3,359,579$3,108,668$3,971,238
67$4,730,303$3,473,354$3,161,964$4,203,952
68$5,160,348$3,591,103$3,215,444$4,455,542
69$5,632,605$3,712,969$3,269,064$4,727,796
70$6,151,329$3,839,103$3,322,775$5,022,681
71$6,721,205$3,969,659$3,376,529$5,342,361
72$7,347,395$4,104,800$3,430,270$5,689,217
73$8,035,587$4,244,692$3,483,941$6,065,868
74$8,792,044$4,389,510$3,537,481$6,475,196
75$9,623,671$4,539,434$3,590,824$6,920,372
76$10,538,070$4,694,651$3,643,902$7,404,887
77$11,543,622$4,855,357$3,696,641$7,932,583
78$12,649,555$5,021,754$3,748,962$8,507,688
79$13,866,041$5,194,051$3,800,784$9,134,856
80$15,204,285$5,372,467$3,852,018$9,819,213
81$16,676,633$5,557,229$3,902,571$10,566,401
82$18,296,688$5,748,571$3,952,346$11,382,630
83$20,079,438$5,946,740$4,001,237$12,274,742
84$22,041,398$6,151,987$4,049,136$13,250,267
85$24,200,764$6,364,578$4,095,926$14,317,499
86$26,577,587$6,584,788$4,141,485$15,485,572
87$29,193,959$6,812,900$4,185,682$16,764,546
88$32,074,223$7,049,212$4,228,382$18,165,497
89$35,245,201$7,294,031$4,269,441$19,700,628
90$38,736,451$7,547,678$4,308,706$21,383,378
91$42,580,540$7,810,485$4,346,019$23,228,550
92$46,813,354$8,082,798$4,381,210$25,252,448
93$51,474,438$8,364,977$4,414,102$27,473,033
94$56,607,365$8,657,395$4,444,509$29,910,090
95$62,260,150$8,960,442$4,472,234$32,585,413
96$68,485,703$9,274,521$4,497,072$35,523,011
97$75,342,326$9,600,053$4,518,804$38,749,335
98$82,894,263$9,937,475$4,537,204$42,293,522
99$91,212,308$10,287,243$4,552,031$46,187,673
100$100,374,474$10,649,828$4,563,034$50,467,155