Can I retire at age 62 with 2,860,000?

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 $2,860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$236,176$234,072$232,020$230,017$228,060$225,398
2 years$116,919$114,741$112,631$110,585$108,600$105,920
3 years$77,172$74,985$72,880$70,853$68,900$66,286
4 years$57,302$55,122$53,038$51,045$49,140$46,612
5 years$45,383$43,216$41,159$39,208$37,356$34,920
6 years$37,440$35,289$33,263$31,355$29,558$27,219
7 years$31,769$29,636$27,642$25,779$24,039$21,797
8 years$27,517$25,403$23,442$21,625$19,943$17,798
9 years$24,212$22,118$20,191$18,420$16,794$14,746
10 years$21,569$19,496$17,603$15,878$14,310$12,356
11 years$19,408$17,356$15,497$13,819$12,307$10,446
12 years$17,609$15,578$13,753$12,121$10,665$8,895
13 years$16,088$14,078$12,288$10,701$9,300$7,619
14 years$14,785$12,796$11,041$9,499$8,152$6,558
15 years$13,657$11,690$9,968$8,471$7,178$5,668
16 years$12,671$10,725$9,038$7,585$6,344$4,915
17 years$11,802$9,878$8,224$6,815$5,625$4,275
18 years$11,030$9,127$7,507$6,142$5,001$3,727
19 years$10,340$8,459$6,873$5,550$4,458$3,256
20 years$9,720$7,861$6,307$5,026$3,982$2,850
21 years$9,160$7,322$5,802$4,562$3,563$2,499
22 years$8,651$6,835$5,347$4,148$3,194$2,194
23 years$8,188$6,392$4,937$3,777$2,867$1,928
24 years$7,763$5,989$4,566$3,445$2,577$1,697
25 years$7,374$5,621$4,229$3,146$2,319$1,494
26 years$7,014$5,282$3,922$2,877$2,089$1,317
27 years$6,682$4,971$3,642$2,633$1,883$1,161
28 years$6,374$4,684$3,386$2,413$1,699$1,025
29 years$6,088$4,419$3,151$2,212$1,534$905
30 years$5,822$4,174$2,935$2,030$1,386$799
31 years$5,573$3,945$2,736$1,865$1,253$706
32 years$5,340$3,733$2,553$1,714$1,134$625
33 years$5,122$3,535$2,384$1,576$1,026$552
34 years$4,917$3,351$2,227$1,450$929$489
35 years$4,724$3,178$2,082$1,335$841$432
36 years$4,542$3,016$1,948$1,229$762$383
37 years$4,371$2,865$1,823$1,133$691$339
38 years$4,209$2,723$1,707$1,044$626$300
39 years$4,055$2,589$1,599$963$568$266
40 years$3,910$2,463$1,499$888$515$235
41 years$3,772$2,345$1,406$819$467$208
42 years$3,641$2,233$1,319$756$424$184
43 years$3,517$2,128$1,237$698$385$163
44 years$3,398$2,028$1,162$644$349$145
45 years$3,285$1,934$1,091$595$317$128
46 years$3,177$1,845$1,024$550$288$114
47 years$3,075$1,761$962$508$262$101
48 years$2,976$1,681$904$469$238$89
49 years$2,882$1,605$850$434$216$79
50 years$2,792$1,533$799$401$196$70

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,860,000, adding $6,483 every year, while hoping to spend $40,373 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: 59/20/21 Blend
61$2,860,000$2,860,000$2,860,000$2,860,000
62$3,158,407$3,006,827$2,962,497$3,326,816
63$3,437,608$3,111,205$3,018,784$3,546,285
64$3,743,935$3,219,345$3,075,604$3,780,576
65$4,080,110$3,331,387$3,132,931$4,035,207
66$4,449,137$3,447,480$3,190,739$4,312,154
67$4,854,318$3,567,776$3,248,999$4,613,592
68$5,299,297$3,692,435$3,307,678$4,941,915
69$5,788,083$3,821,622$3,366,743$5,299,758
70$6,325,095$3,955,510$3,426,157$5,690,023
71$6,915,201$4,094,276$3,485,880$6,115,903
72$7,563,764$4,238,108$3,545,869$6,580,915
73$8,276,692$4,387,199$3,606,080$7,088,931
74$9,060,493$4,541,751$3,666,462$7,644,215
75$9,922,339$4,701,972$3,726,964$8,251,461
76$10,870,129$4,868,080$3,787,529$8,915,842
77$11,912,570$5,040,303$3,848,098$9,643,049
78$13,059,250$5,218,876$3,908,608$10,439,356
79$14,320,737$5,404,045$3,968,990$11,311,669
80$15,708,673$5,596,064$4,029,172$12,267,596
81$17,235,886$5,795,199$4,089,077$13,315,516
82$18,916,510$6,001,728$4,148,625$14,464,660
83$20,766,118$6,215,937$4,207,728$15,725,194
84$22,801,871$6,438,126$4,266,296$17,108,320
85$25,042,675$6,668,607$4,324,229$18,626,374
86$27,509,363$6,907,705$4,381,427$20,292,949
87$30,224,893$7,155,757$4,437,779$22,123,016
88$33,214,558$7,413,115$4,493,171$24,133,072
89$36,506,231$7,680,145$4,547,480$26,341,288
90$40,130,624$7,957,230$4,600,578$28,767,685
91$44,121,578$8,244,765$4,652,328$31,434,322
92$48,516,386$8,543,165$4,702,588$34,365,498
93$53,356,138$8,852,861$4,751,205$37,587,990
94$58,686,113$9,174,300$4,798,020$41,131,296
95$64,556,207$9,507,951$4,842,864$45,027,919
96$71,021,399$9,854,300$4,885,559$49,313,670
97$78,142,276$10,213,855$4,925,920$54,028,006
98$85,985,599$10,587,144$4,963,748$59,214,402
99$94,624,933$10,974,718$4,998,837$64,920,762
100$104,141,348$11,377,150$5,030,969$71,199,866