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%19%
1 years$236,176$234,072$232,020$230,017$228,060$219,794
2 years$116,919$114,741$112,631$110,585$108,600$100,362
3 years$77,172$74,985$72,880$70,853$68,900$60,951
4 years$57,302$55,122$53,038$51,045$49,140$41,539
5 years$45,383$43,216$41,159$39,208$37,356$30,123
6 years$37,440$35,289$33,263$31,355$29,558$22,699
7 years$31,769$29,636$27,642$25,779$24,039$17,552
8 years$27,517$25,403$23,442$21,625$19,943$13,822
9 years$24,212$22,118$20,191$18,420$16,794$11,032
10 years$21,569$19,496$17,603$15,878$14,310$8,895
11 years$19,408$17,356$15,497$13,819$12,307$7,229
12 years$17,609$15,578$13,753$12,121$10,665$5,912
13 years$16,088$14,078$12,288$10,701$9,300$4,858
14 years$14,785$12,796$11,041$9,499$8,152$4,008
15 years$13,657$11,690$9,968$8,471$7,178$3,317
16 years$12,671$10,725$9,038$7,585$6,344$2,753
17 years$11,802$9,878$8,224$6,815$5,625$2,289
18 years$11,030$9,127$7,507$6,142$5,001$1,907
19 years$10,340$8,459$6,873$5,550$4,458$1,591
20 years$9,720$7,861$6,307$5,026$3,982$1,329
21 years$9,160$7,322$5,802$4,562$3,563$1,111
22 years$8,651$6,835$5,347$4,148$3,194$930
23 years$8,188$6,392$4,937$3,777$2,867$778
24 years$7,763$5,989$4,566$3,445$2,577$652
25 years$7,374$5,621$4,229$3,146$2,319$547
26 years$7,014$5,282$3,922$2,877$2,089$458
27 years$6,682$4,971$3,642$2,633$1,883$385
28 years$6,374$4,684$3,386$2,413$1,699$323
29 years$6,088$4,419$3,151$2,212$1,534$271
30 years$5,822$4,174$2,935$2,030$1,386$227
31 years$5,573$3,945$2,736$1,865$1,253$191
32 years$5,340$3,733$2,553$1,714$1,134$160
33 years$5,122$3,535$2,384$1,576$1,026$135
34 years$4,917$3,351$2,227$1,450$929$113
35 years$4,724$3,178$2,082$1,335$841$95
36 years$4,542$3,016$1,948$1,229$762$80
37 years$4,371$2,865$1,823$1,133$691$67
38 years$4,209$2,723$1,707$1,044$626$56
39 years$4,055$2,589$1,599$963$568$47
40 years$3,910$2,463$1,499$888$515$40
41 years$3,772$2,345$1,406$819$467$33
42 years$3,641$2,233$1,319$756$424$28
43 years$3,517$2,128$1,237$698$385$24
44 years$3,398$2,028$1,162$644$349$20
45 years$3,285$1,934$1,091$595$317$17
46 years$3,177$1,845$1,024$550$288$14
47 years$3,075$1,761$962$508$262$12
48 years$2,976$1,681$904$469$238$10
49 years$2,882$1,605$850$434$216$8
50 years$2,792$1,533$799$401$196$7

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 $4,937 every year, while hoping to spend $36,247 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: 61/30/9 Blend
61$2,860,000$2,860,000$2,860,000$2,860,000
62$3,156,813$3,005,233$2,960,903$3,342,820
63$3,440,241$3,113,922$3,021,526$3,576,680
64$3,751,364$3,226,723$3,082,966$3,827,134
65$4,092,969$3,343,798$3,145,211$4,099,501
66$4,468,124$3,465,317$3,208,248$4,395,897
67$4,880,213$3,591,457$3,272,064$4,718,649
68$5,332,959$3,722,403$3,336,643$5,070,320
69$5,830,466$3,858,347$3,401,966$5,453,725
70$6,377,256$3,999,488$3,468,014$5,871,966
71$6,978,309$4,146,036$3,534,766$6,328,454
72$7,639,113$4,298,208$3,602,196$6,826,944
73$8,365,712$4,456,230$3,670,280$7,371,570
74$9,164,769$4,620,339$3,738,988$7,966,879
75$10,043,620$4,790,780$3,808,289$8,617,881
76$11,010,351$4,967,810$3,878,148$9,330,088
77$12,073,871$5,151,697$3,948,530$10,109,568
78$13,243,994$5,342,719$4,019,395$10,963,004
79$14,531,536$5,541,166$4,090,699$11,897,754
80$15,948,411$5,747,342$4,162,396$12,921,918
81$17,507,750$5,961,562$4,234,436$14,044,417
82$19,224,017$6,184,156$4,306,767$15,275,074
83$21,113,155$6,415,467$4,379,332$16,624,708
84$23,192,725$6,655,853$4,452,068$18,105,233
85$25,482,081$6,905,689$4,524,910$19,729,769
86$28,002,549$7,165,362$4,597,790$21,512,767
87$30,777,624$7,435,281$4,670,631$23,470,146
88$33,833,200$7,715,868$4,743,356$25,619,435
89$37,197,807$8,007,566$4,815,879$27,979,945
90$40,902,883$8,310,836$4,888,110$30,572,946
91$44,983,070$8,626,160$4,959,955$33,421,869
92$49,476,541$8,954,040$5,031,311$36,552,522
93$54,425,360$9,294,999$5,102,072$39,993,338
94$59,875,878$9,649,585$5,172,123$43,775,635
95$65,879,171$10,018,369$5,241,343$47,933,918
96$72,491,523$10,401,945$5,309,604$52,506,196
97$79,774,954$10,800,937$5,376,771$57,534,344
98$87,797,808$11,215,991$5,442,702$63,064,496
99$96,635,396$11,647,786$5,507,244$69,147,476
100$106,370,707$12,097,029$5,570,238$75,839,279