Can I retire at age 62 with 2,810,000?

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 $2,810,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$232,047$229,980$227,964$225,995$224,073$220,907
2 years$114,875$112,735$110,662$108,652$106,702$103,518
3 years$75,822$73,674$71,606$69,614$67,696$64,594
4 years$56,300$54,158$52,111$50,153$48,281$45,284
5 years$44,590$42,461$40,440$38,522$36,703$33,820
6 years$36,785$34,672$32,681$30,807$29,042$26,276
7 years$31,213$29,118$27,158$25,328$23,619$20,971
8 years$27,036$24,959$23,033$21,247$19,594$17,065
9 years$23,788$21,732$19,838$18,098$16,501$14,089
10 years$21,192$19,155$17,295$15,600$14,060$11,762
11 years$19,069$17,053$15,226$13,577$12,092$9,907
12 years$17,301$15,306$13,513$11,909$10,478$8,404
13 years$15,807$13,832$12,073$10,514$9,137$7,170
14 years$14,527$12,573$10,848$9,333$8,010$6,147
15 years$13,418$11,485$9,794$8,323$7,052$5,291
16 years$12,449$10,538$8,880$7,453$6,233$4,569
17 years$11,595$9,705$8,080$6,696$5,527$3,957
18 years$10,837$8,968$7,376$6,035$4,914$3,435
19 years$10,159$8,311$6,752$5,453$4,380$2,988
20 years$9,550$7,723$6,197$4,938$3,912$2,604
21 years$9,000$7,194$5,700$4,482$3,501$2,273
22 years$8,500$6,715$5,254$4,075$3,138$1,986
23 years$8,045$6,281$4,851$3,711$2,817$1,738
24 years$7,628$5,884$4,486$3,385$2,532$1,522
25 years$7,245$5,522$4,155$3,091$2,278$1,334
26 years$6,892$5,190$3,854$2,827$2,052$1,170
27 years$6,565$4,884$3,578$2,587$1,850$1,027
28 years$6,263$4,603$3,327$2,370$1,670$902
29 years$5,982$4,342$3,096$2,174$1,508$793
30 years$5,720$4,101$2,883$1,995$1,362$697
31 years$5,475$3,876$2,688$1,832$1,232$613
32 years$5,247$3,668$2,508$1,684$1,114$539
33 years$5,032$3,474$2,342$1,548$1,008$474
34 years$4,831$3,292$2,188$1,425$913$417
35 years$4,641$3,123$2,046$1,312$827$367
36 years$4,463$2,964$1,914$1,208$749$324
37 years$4,294$2,815$1,791$1,113$679$285
38 years$4,135$2,675$1,677$1,026$616$251
39 years$3,985$2,544$1,572$946$558$221
40 years$3,842$2,420$1,473$872$506$195
41 years$3,706$2,304$1,381$805$459$172
42 years$3,578$2,194$1,296$743$417$151
43 years$3,455$2,090$1,216$686$378$133
44 years$3,339$1,993$1,141$633$343$118
45 years$3,228$1,900$1,072$585$312$104
46 years$3,122$1,813$1,006$540$283$91
47 years$3,021$1,730$946$499$257$80
48 years$2,924$1,651$889$461$233$71
49 years$2,832$1,577$835$426$212$63
50 years$2,744$1,506$785$394$193$55

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,810,000, adding $5,894 every year, while hoping to spend $50,441 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: 64/17/19 Blend
61$2,810,000$2,810,000$2,810,000$2,810,000
62$3,102,700$2,953,770$2,910,215$3,285,996
63$3,365,506$3,044,836$2,954,038$3,500,972
64$3,653,428$3,138,673$2,997,639$3,729,468
65$3,968,975$3,235,365$3,040,957$3,977,905
66$4,314,908$3,334,996$3,083,927$4,248,234
67$4,694,272$3,437,653$3,126,481$4,542,603
68$5,110,416$3,543,427$3,168,547$4,863,377
69$5,567,033$3,652,409$3,210,048$5,213,162
70$6,068,189$3,764,696$3,250,902$5,594,827
71$6,618,362$3,880,384$3,291,026$6,011,530
72$7,222,486$3,999,574$3,330,326$6,466,752
73$7,885,996$4,122,369$3,368,708$6,964,326
74$8,614,878$4,248,876$3,406,071$7,508,474
75$9,415,729$4,379,204$3,442,307$8,103,845
76$10,295,814$4,513,465$3,477,305$8,755,562
77$11,263,137$4,651,775$3,510,945$9,469,269
78$12,326,517$4,794,253$3,543,102$10,251,181
79$13,495,671$4,941,020$3,573,644$11,108,147
80$14,781,301$5,092,201$3,602,433$12,047,712
81$16,195,201$5,247,927$3,629,322$13,078,187
82$17,750,364$5,408,328$3,654,157$14,208,730
83$19,461,107$5,573,542$3,676,777$15,449,431
84$21,343,202$5,743,707$3,697,011$16,811,405
85$23,414,028$5,918,968$3,714,680$18,306,900
86$25,692,733$6,099,472$3,729,597$19,949,411
87$28,200,417$6,285,371$3,741,563$21,753,807
88$30,960,325$6,476,820$3,750,371$23,736,471
89$33,998,073$6,673,979$3,755,804$25,915,454
90$37,341,885$6,877,013$3,757,632$28,310,646
91$41,022,861$7,086,090$3,755,615$30,943,965
92$45,075,266$7,301,382$3,749,503$33,839,561
93$49,536,862$7,523,068$3,739,030$37,024,045
94$54,449,254$7,751,331$3,723,919$40,526,738
95$59,858,288$7,986,356$3,703,881$44,379,952
96$65,814,483$8,228,337$3,678,610$48,619,293
97$72,373,505$8,477,471$3,647,788$53,283,992
98$79,596,695$8,733,959$3,611,081$58,417,283
99$87,551,644$8,998,009$3,568,139$64,066,805
100$96,312,835$9,269,835$3,518,595$70,285,057