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

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 $2,850,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$235,350$233,254$231,209$229,212$227,263$221,859
2 years$116,510$114,340$112,237$110,198$108,220$102,808
3 years$76,902$74,723$72,625$70,605$68,660$63,407
4 years$57,102$54,929$52,852$50,867$48,969$43,917
5 years$45,225$43,065$41,016$39,071$37,225$32,388
6 years$37,309$35,166$33,147$31,245$29,455$24,838
7 years$31,657$29,532$27,545$25,688$23,955$19,558
8 years$27,421$25,315$23,360$21,549$19,873$15,695
9 years$24,127$22,041$20,120$18,355$16,736$12,773
10 years$21,494$19,428$17,541$15,822$14,260$10,508
11 years$19,341$17,296$15,443$13,770$12,264$8,718
12 years$17,548$15,524$13,705$12,078$10,628$7,281
13 years$16,032$14,029$12,245$10,663$9,267$6,114
14 years$14,733$12,752$11,002$9,466$8,124$5,157
15 years$13,609$11,649$9,933$8,442$7,153$4,366
16 years$12,627$10,688$9,006$7,559$6,322$3,707
17 years$11,760$9,843$8,195$6,791$5,605$3,156
18 years$10,991$9,095$7,481$6,120$4,984$2,692
19 years$10,304$8,429$6,849$5,530$4,442$2,301
20 years$9,686$7,833$6,285$5,009$3,968$1,969
21 years$9,128$7,296$5,781$4,546$3,551$1,688
22 years$8,621$6,811$5,328$4,133$3,183$1,448
23 years$8,159$6,370$4,920$3,764$2,857$1,243
24 years$7,736$5,968$4,550$3,433$2,568$1,068
25 years$7,348$5,601$4,214$3,135$2,311$919
26 years$6,990$5,264$3,908$2,867$2,082$791
27 years$6,659$4,954$3,629$2,624$1,877$681
28 years$6,352$4,668$3,374$2,404$1,693$586
29 years$6,067$4,404$3,140$2,205$1,529$505
30 years$5,801$4,159$2,925$2,023$1,382$435
31 years$5,553$3,932$2,726$1,858$1,249$375
32 years$5,321$3,720$2,544$1,708$1,130$324
33 years$5,104$3,523$2,375$1,570$1,023$279
34 years$4,900$3,339$2,219$1,445$926$241
35 years$4,708$3,167$2,075$1,330$839$208
36 years$4,526$3,006$1,941$1,225$760$179
37 years$4,356$2,855$1,817$1,129$689$155
38 years$4,194$2,713$1,701$1,040$624$133
39 years$4,041$2,580$1,594$959$566$115
40 years$3,896$2,455$1,494$885$513$99
41 years$3,759$2,337$1,401$816$466$86
42 years$3,628$2,225$1,314$753$423$74
43 years$3,504$2,120$1,233$695$384$64
44 years$3,386$2,021$1,157$642$348$55
45 years$3,274$1,927$1,087$593$316$48
46 years$3,166$1,839$1,021$548$287$41
47 years$3,064$1,755$959$506$261$36
48 years$2,966$1,675$901$468$237$31
49 years$2,872$1,599$847$432$215$27
50 years$2,783$1,528$796$399$195$23

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 $6,618 every year, while hoping to spend $59,610 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: 46/25/29 Blend
61$2,850,000$2,850,000$2,850,000$2,850,000
62$3,147,526$2,996,476$2,952,301$3,265,749
63$3,405,150$3,079,879$2,987,779$3,433,688
64$3,687,052$3,165,371$3,022,447$3,609,538
65$3,995,648$3,252,991$3,056,216$3,799,213
66$4,333,596$3,342,778$3,088,990$4,004,042
67$4,703,821$3,434,773$3,120,670$4,225,488
68$5,109,547$3,529,013$3,151,149$4,465,164
69$5,554,324$3,625,539$3,180,316$4,724,846
70$6,042,063$3,724,387$3,208,053$5,006,493
71$6,577,068$3,825,597$3,234,238$5,312,259
72$7,164,083$3,929,205$3,258,739$5,644,520
73$7,808,333$4,035,250$3,281,420$6,005,893
74$8,515,571$4,143,766$3,302,137$6,399,261
75$9,292,138$4,254,789$3,320,737$6,827,803
76$10,145,017$4,368,354$3,337,062$7,295,019
77$11,081,898$4,484,493$3,350,943$7,804,767
78$12,111,258$4,603,239$3,362,206$8,361,299
79$13,242,431$4,724,622$3,370,664$8,969,300
80$14,485,702$4,848,672$3,376,124$9,633,933
81$15,852,401$4,975,415$3,378,383$10,360,889
82$17,355,013$5,104,877$3,377,225$11,156,438
83$19,007,289$5,237,081$3,372,427$12,027,491
84$20,824,383$5,372,048$3,363,754$12,981,663
85$22,822,988$5,509,797$3,350,958$14,027,350
86$25,021,499$5,650,342$3,333,780$15,173,801
87$27,440,180$5,793,697$3,311,950$16,431,211
88$30,101,361$5,939,871$3,285,184$17,810,819
89$33,029,645$6,088,869$3,253,182$19,325,006
90$36,252,138$6,240,694$3,215,633$20,987,423
91$39,798,711$6,395,342$3,172,211$22,813,112
92$43,702,272$6,552,807$3,122,573$24,818,651
93$47,999,086$6,713,077$3,066,362$27,022,314
94$52,729,109$6,876,134$3,003,201$29,444,237
95$57,936,369$7,041,955$2,932,699$32,106,618
96$63,669,380$7,210,512$2,854,446$35,033,917
97$69,981,598$7,381,768$2,768,011$38,253,096
98$76,931,927$7,555,681$2,672,946$41,793,868
99$84,585,275$7,732,201$2,568,780$45,688,983
100$93,013,162$7,911,268$2,455,024$49,974,533