Can I retire at age 62 with 2,850,000?

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 $2,850,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$235,350$233,254$231,209$229,212$227,263$224,890
2 years$116,510$114,340$112,237$110,198$108,220$105,830
3 years$76,902$74,723$72,625$70,605$68,660$66,327
4 years$57,102$54,929$52,852$50,867$48,969$46,711
5 years$45,225$43,065$41,016$39,071$37,225$35,050
6 years$37,309$35,166$33,147$31,245$29,455$27,365
7 years$31,657$29,532$27,545$25,688$23,955$21,950
8 years$27,421$25,315$23,360$21,549$19,873$17,953
9 years$24,127$22,041$20,120$18,355$16,736$14,901
10 years$21,494$19,428$17,541$15,822$14,260$12,509
11 years$19,341$17,296$15,443$13,770$12,264$10,595
12 years$17,548$15,524$13,705$12,078$10,628$9,039
13 years$16,032$14,029$12,245$10,663$9,267$7,758
14 years$14,733$12,752$11,002$9,466$8,124$6,691
15 years$13,609$11,649$9,933$8,442$7,153$5,794
16 years$12,627$10,688$9,006$7,559$6,322$5,035
17 years$11,760$9,843$8,195$6,791$5,605$4,388
18 years$10,991$9,095$7,481$6,120$4,984$3,834
19 years$10,304$8,429$6,849$5,530$4,442$3,357
20 years$9,686$7,833$6,285$5,009$3,968$2,945
21 years$9,128$7,296$5,781$4,546$3,551$2,588
22 years$8,621$6,811$5,328$4,133$3,183$2,277
23 years$8,159$6,370$4,920$3,764$2,857$2,006
24 years$7,736$5,968$4,550$3,433$2,568$1,769
25 years$7,348$5,601$4,214$3,135$2,311$1,562
26 years$6,990$5,264$3,908$2,867$2,082$1,379
27 years$6,659$4,954$3,629$2,624$1,877$1,220
28 years$6,352$4,668$3,374$2,404$1,693$1,079
29 years$6,067$4,404$3,140$2,205$1,529$955
30 years$5,801$4,159$2,925$2,023$1,382$846
31 years$5,553$3,932$2,726$1,858$1,249$749
32 years$5,321$3,720$2,544$1,708$1,130$664
33 years$5,104$3,523$2,375$1,570$1,023$589
34 years$4,900$3,339$2,219$1,445$926$522
35 years$4,708$3,167$2,075$1,330$839$463
36 years$4,526$3,006$1,941$1,225$760$411
37 years$4,356$2,855$1,817$1,129$689$365
38 years$4,194$2,713$1,701$1,040$624$324
39 years$4,041$2,580$1,594$959$566$287
40 years$3,896$2,455$1,494$885$513$255
41 years$3,759$2,337$1,401$816$466$227
42 years$3,628$2,225$1,314$753$423$201
43 years$3,504$2,120$1,233$695$384$179
44 years$3,386$2,021$1,157$642$348$159
45 years$3,274$1,927$1,087$593$316$141
46 years$3,166$1,839$1,021$548$287$125
47 years$3,064$1,755$959$506$261$111
48 years$2,966$1,675$901$468$237$99
49 years$2,872$1,599$847$432$215$88
50 years$2,783$1,528$796$399$195$78

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,850,000, adding $3,681 every year, while hoping to spend $22,485 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: 70/11/19 Blend
61$2,850,000$2,850,000$2,850,000$2,850,000
62$3,144,497$2,993,447$2,949,272$3,349,897
63$3,441,312$3,116,202$3,024,149$3,610,033
64$3,767,648$3,244,218$3,100,780$3,891,651
65$4,126,493$3,377,730$3,179,202$4,199,334
66$4,521,139$3,516,982$3,259,448$4,535,656
67$4,955,212$3,662,231$3,341,556$4,903,452
68$5,432,706$3,813,743$3,425,561$5,305,841
69$5,958,025$3,971,800$3,511,501$5,746,259
70$6,536,019$4,136,693$3,599,411$6,228,489
71$7,172,033$4,308,731$3,689,331$6,756,695
72$7,871,953$4,488,232$3,781,297$7,335,466
73$8,642,269$4,675,532$3,875,347$7,969,851
74$9,490,130$4,870,982$3,971,520$8,665,415
75$10,423,413$5,074,950$4,069,856$9,428,283
76$11,450,797$5,287,819$4,170,392$10,265,203
77$12,581,847$5,509,990$4,273,168$11,183,606
78$13,827,100$5,741,884$4,378,224$12,191,679
79$15,198,169$5,983,941$4,485,600$13,298,437
80$16,707,849$6,236,622$4,595,334$14,513,812
81$18,370,240$6,500,406$4,707,468$15,848,744
82$20,200,877$6,775,799$4,822,042$17,315,283
83$22,216,882$7,063,328$4,939,095$18,926,705
84$24,437,117$7,363,545$5,058,668$20,697,633
85$26,882,371$7,677,027$5,180,801$22,644,177
86$29,575,550$8,004,378$5,305,535$24,784,086
87$32,541,895$8,346,232$5,432,910$27,136,911
88$35,809,221$8,703,250$5,562,965$29,724,193
89$39,408,179$9,076,125$5,695,741$32,569,663
90$43,372,541$9,465,584$5,831,277$35,699,467
91$47,739,528$9,872,385$5,969,612$39,142,410
92$52,550,152$10,297,324$6,110,786$42,930,230
93$57,849,606$10,741,232$6,254,836$47,097,892
94$63,687,694$11,204,981$6,401,802$51,683,923
95$70,119,297$11,689,482$6,551,719$56,730,770
96$77,204,889$12,195,691$6,704,626$62,285,202
97$85,011,115$12,724,607$6,860,558$68,398,750
98$93,611,413$13,277,277$7,019,551$75,128,193
99$103,086,709$13,854,796$7,181,639$82,536,091
100$113,526,185$14,458,312$7,346,854$90,691,376