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%11.9%
1 years$235,350$233,254$231,209$229,212$227,263$225,453
2 years$116,510$114,340$112,237$110,198$108,220$106,396
3 years$76,902$74,723$72,625$70,605$68,660$66,877
4 years$57,102$54,929$52,852$50,867$48,969$47,242
5 years$45,225$43,065$41,016$39,071$37,225$35,559
6 years$37,309$35,166$33,147$31,245$29,455$27,852
7 years$31,657$29,532$27,545$25,688$23,955$22,415
8 years$27,421$25,315$23,360$21,549$19,873$18,397
9 years$24,127$22,041$20,120$18,355$16,736$15,323
10 years$21,494$19,428$17,541$15,822$14,260$12,910
11 years$19,341$17,296$15,443$13,770$12,264$10,975
12 years$17,548$15,524$13,705$12,078$10,628$9,399
13 years$16,032$14,029$12,245$10,663$9,267$8,098
14 years$14,733$12,752$11,002$9,466$8,124$7,012
15 years$13,609$11,649$9,933$8,442$7,153$6,096
16 years$12,627$10,688$9,006$7,559$6,322$5,320
17 years$11,760$9,843$8,195$6,791$5,605$4,656
18 years$10,991$9,095$7,481$6,120$4,984$4,085
19 years$10,304$8,429$6,849$5,530$4,442$3,593
20 years$9,686$7,833$6,285$5,009$3,968$3,165
21 years$9,128$7,296$5,781$4,546$3,551$2,794
22 years$8,621$6,811$5,328$4,133$3,183$2,469
23 years$8,159$6,370$4,920$3,764$2,857$2,185
24 years$7,736$5,968$4,550$3,433$2,568$1,936
25 years$7,348$5,601$4,214$3,135$2,311$1,717
26 years$6,990$5,264$3,908$2,867$2,082$1,524
27 years$6,659$4,954$3,629$2,624$1,877$1,354
28 years$6,352$4,668$3,374$2,404$1,693$1,203
29 years$6,067$4,404$3,140$2,205$1,529$1,070
30 years$5,801$4,159$2,925$2,023$1,382$952
31 years$5,553$3,932$2,726$1,858$1,249$848
32 years$5,321$3,720$2,544$1,708$1,130$755
33 years$5,104$3,523$2,375$1,570$1,023$673
34 years$4,900$3,339$2,219$1,445$926$600
35 years$4,708$3,167$2,075$1,330$839$535
36 years$4,526$3,006$1,941$1,225$760$477
37 years$4,356$2,855$1,817$1,129$689$425
38 years$4,194$2,713$1,701$1,040$624$379
39 years$4,041$2,580$1,594$959$566$339
40 years$3,896$2,455$1,494$885$513$302
41 years$3,759$2,337$1,401$816$466$270
42 years$3,628$2,225$1,314$753$423$241
43 years$3,504$2,120$1,233$695$384$215
44 years$3,386$2,021$1,157$642$348$192
45 years$3,274$1,927$1,087$593$316$171
46 years$3,166$1,839$1,021$548$287$153
47 years$3,064$1,755$959$506$261$137
48 years$2,966$1,675$901$468$237$122
49 years$2,872$1,599$847$432$215$109
50 years$2,783$1,528$796$399$195$97

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 $4,192 every year, while hoping to spend $20,360 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: 57/38/5 Blend
61$2,850,000$2,850,000$2,850,000$2,850,000
62$3,145,024$2,993,974$2,949,799$3,321,065
63$3,444,154$3,119,016$3,026,954$3,564,830
64$3,773,112$3,249,502$3,106,012$3,827,615
65$4,134,920$3,385,679$3,187,014$4,113,405
66$4,532,907$3,527,802$3,270,004$4,424,395
67$4,970,739$3,676,140$3,355,025$4,762,998
68$5,452,458$3,830,974$3,442,122$5,131,866
69$5,982,515$3,992,599$3,531,340$5,533,916
70$6,565,817$4,161,321$3,622,724$5,972,353
71$7,207,767$4,337,462$3,716,322$6,450,704
72$7,914,321$4,521,360$3,812,181$6,972,847
73$8,692,042$4,713,367$3,910,349$7,543,046
74$9,548,160$4,913,851$4,010,876$8,165,993
75$10,490,642$5,123,200$4,113,810$8,846,848
76$11,528,267$5,341,816$4,219,202$9,591,291
77$12,670,709$5,570,124$4,327,104$10,405,568
78$13,928,627$5,808,565$4,437,567$11,296,555
79$15,313,765$6,057,603$4,550,644$12,271,816
80$16,839,067$6,317,724$4,666,388$13,339,677
81$18,518,793$6,589,434$4,784,854$14,509,302
82$20,368,659$6,873,265$4,906,096$15,790,776
83$22,405,981$7,169,774$5,030,169$17,195,202
84$24,649,841$7,479,543$5,157,129$18,734,800
85$27,121,267$7,803,182$5,287,035$20,423,026
86$29,843,427$8,141,329$5,419,941$22,274,690
87$32,841,855$8,494,653$5,555,908$24,306,100
88$36,144,687$8,863,853$5,694,993$26,535,211
89$39,782,925$9,249,662$5,837,256$28,981,793
90$43,790,736$9,652,848$5,982,756$31,667,615
91$48,205,766$10,074,213$6,131,554$34,616,650
92$53,069,504$10,514,599$6,283,711$37,855,295
93$58,427,665$10,974,886$6,439,287$41,412,621
94$64,330,629$11,455,997$6,598,345$45,320,644
95$70,833,910$11,958,898$6,760,947$49,614,624
96$77,998,685$12,484,601$6,927,155$54,333,395
97$85,892,368$13,034,163$7,097,032$59,519,727
98$94,589,248$13,608,696$7,270,641$65,220,730
99$104,171,190$14,209,360$7,448,045$71,488,293
100$114,728,405$14,837,372$7,629,308$78,379,571