Can I retire at age 62 with 2,830,000?

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 $2,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$233,699$231,617$229,586$227,604$225,668$221,293
2 years$115,692$113,538$111,450$109,425$107,461$103,071
3 years$76,362$74,198$72,115$70,110$68,178$63,909
4 years$56,701$54,544$52,481$50,510$48,625$44,511
5 years$44,907$42,763$40,728$38,797$36,964$33,017
6 years$37,047$34,919$32,914$31,026$29,248$25,472
7 years$31,435$29,325$27,352$25,508$23,787$20,182
8 years$27,228$25,137$23,196$21,398$19,733$16,300
9 years$23,958$21,886$19,979$18,226$16,618$13,353
10 years$21,343$19,292$17,418$15,711$14,160$11,060
11 years$19,205$17,174$15,335$13,674$12,178$9,240
12 years$17,424$15,415$13,609$11,994$10,553$7,773
13 years$15,919$13,930$12,159$10,589$9,202$6,575
14 years$14,630$12,662$10,925$9,399$8,067$5,588
15 years$13,514$11,567$9,864$8,383$7,103$4,767
16 years$12,538$10,613$8,943$7,506$6,277$4,079
17 years$11,678$9,774$8,138$6,744$5,566$3,500
18 years$10,914$9,032$7,429$6,077$4,949$3,010
19 years$10,232$8,370$6,801$5,492$4,411$2,594
20 years$9,618$7,778$6,241$4,974$3,940$2,238
21 years$9,064$7,245$5,741$4,514$3,526$1,934
22 years$8,561$6,763$5,291$4,104$3,160$1,674
23 years$8,102$6,325$4,885$3,738$2,837$1,450
24 years$7,682$5,926$4,518$3,409$2,550$1,257
25 years$7,296$5,562$4,185$3,113$2,295$1,090
26 years$6,941$5,227$3,881$2,847$2,067$946
27 years$6,612$4,919$3,604$2,606$1,863$822
28 years$6,307$4,635$3,350$2,387$1,681$714
29 years$6,024$4,373$3,118$2,189$1,518$621
30 years$5,761$4,130$2,904$2,009$1,372$540
31 years$5,514$3,904$2,707$1,845$1,240$470
32 years$5,284$3,694$2,526$1,696$1,122$409
33 years$5,068$3,498$2,359$1,559$1,015$356
34 years$4,865$3,316$2,204$1,435$919$310
35 years$4,674$3,145$2,060$1,321$833$270
36 years$4,495$2,985$1,927$1,216$754$235
37 years$4,325$2,835$1,804$1,121$684$205
38 years$4,165$2,694$1,689$1,033$620$178
39 years$4,013$2,562$1,583$953$562$155
40 years$3,869$2,437$1,483$879$510$135
41 years$3,733$2,320$1,391$811$463$118
42 years$3,603$2,210$1,305$748$420$103
43 years$3,480$2,105$1,224$691$381$90
44 years$3,362$2,007$1,149$638$346$78
45 years$3,251$1,914$1,079$589$314$68
46 years$3,144$1,826$1,014$544$285$59
47 years$3,042$1,742$952$503$259$52
48 years$2,945$1,663$895$464$235$45
49 years$2,852$1,588$841$429$213$39
50 years$2,763$1,517$791$397$194$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,830,000, adding $2,094 every year, while hoping to spend $52,069 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: 59/26/15 Blend
61$2,830,000$2,830,000$2,830,000$2,830,000
62$3,120,820$2,970,830$2,926,965$3,292,943
63$3,383,743$3,061,000$2,969,617$3,499,582
64$3,671,738$3,153,842$3,011,953$3,718,852
65$3,987,309$3,249,434$3,053,907$3,956,746
66$4,333,212$3,347,854$3,095,410$4,215,067
67$4,712,481$3,449,180$3,136,388$4,495,797
68$5,128,460$3,553,496$3,176,763$4,801,123
69$5,584,831$3,660,886$3,216,453$5,133,447
70$6,085,650$3,771,435$3,255,370$5,495,418
71$6,635,384$3,885,233$3,293,423$5,889,950
72$7,238,955$4,002,371$3,330,514$6,320,252
73$7,901,782$4,122,941$3,366,540$6,789,858
74$8,629,839$4,247,040$3,401,394$7,302,661
75$9,429,702$4,374,765$3,434,961$7,862,947
76$10,308,620$4,506,216$3,467,120$8,475,437
77$11,274,575$4,641,497$3,497,745$9,145,329
78$12,336,364$4,780,713$3,526,701$9,878,352
79$13,503,676$4,923,971$3,553,849$10,680,812
80$14,787,188$5,071,382$3,579,040$11,559,660
81$16,198,662$5,223,060$3,602,118$12,522,548
82$17,751,056$5,379,121$3,622,919$13,577,910
83$19,458,648$5,539,682$3,641,272$14,735,034
84$21,337,169$5,704,866$3,656,994$16,004,154
85$23,403,953$5,874,797$3,669,896$17,396,543
86$25,678,096$6,049,602$3,679,777$18,924,623
87$28,180,640$6,229,411$3,686,428$20,602,077
88$30,934,770$6,414,357$3,689,628$22,443,981
89$33,966,032$6,604,576$3,689,146$24,466,948
90$37,302,574$6,800,206$3,684,739$26,689,279
91$40,975,412$7,001,392$3,676,153$29,131,139
92$45,018,720$7,208,276$3,663,120$31,814,747
93$49,470,156$7,421,008$3,645,361$34,764,583
94$54,371,213$7,639,739$3,622,582$38,007,623
95$59,767,614$7,864,623$3,594,476$41,573,588
96$65,709,740$8,095,819$3,560,720$45,495,230
97$72,253,106$8,333,487$3,520,977$49,808,635
98$79,458,887$8,577,791$3,474,893$54,553,567
99$87,394,489$8,828,899$3,422,098$59,773,842
100$96,134,193$9,086,981$3,362,204$65,517,743