Can I retire at age 62 with 2,870,000?

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 $2,870,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$237,002$234,891$232,831$230,821$228,858$221,887
2 years$117,328$115,143$113,025$110,972$108,980$102,017
3 years$77,441$75,247$73,135$71,101$69,141$62,405
4 years$57,502$55,314$53,223$51,224$49,312$42,853
5 years$45,542$43,367$41,303$39,345$37,486$31,322
6 years$37,571$35,413$33,379$31,464$29,662$23,798
7 years$31,880$29,739$27,738$25,869$24,123$18,560
8 years$27,613$25,492$23,524$21,701$20,012$14,746
9 years$24,296$22,196$20,261$18,484$16,853$11,878
10 years$21,645$19,564$17,664$15,933$14,360$9,668
11 years$19,476$17,417$15,551$13,867$12,350$7,934
12 years$17,671$15,632$13,802$12,163$10,702$6,553
13 years$16,144$14,127$12,331$10,738$9,332$5,440
14 years$14,837$12,841$11,079$9,532$8,181$4,535
15 years$13,705$11,731$10,003$8,501$7,203$3,794
16 years$12,715$10,763$9,069$7,612$6,366$3,183
17 years$11,843$9,912$8,253$6,839$5,645$2,676
18 years$11,068$9,159$7,534$6,163$5,019$2,254
19 years$10,376$8,489$6,897$5,569$4,473$1,902
20 years$9,754$7,888$6,329$5,044$3,996$1,607
21 years$9,192$7,347$5,822$4,578$3,576$1,359
22 years$8,682$6,859$5,366$4,162$3,205$1,151
23 years$8,216$6,415$4,954$3,791$2,877$975
24 years$7,791$6,010$4,582$3,457$2,586$827
25 years$7,399$5,640$4,244$3,157$2,327$701
26 years$7,039$5,301$3,936$2,887$2,096$595
27 years$6,706$4,989$3,655$2,642$1,890$506
28 years$6,397$4,701$3,398$2,421$1,705$429
29 years$6,110$4,435$3,162$2,220$1,540$365
30 years$5,842$4,188$2,945$2,038$1,391$310
31 years$5,592$3,959$2,746$1,871$1,258$264
32 years$5,359$3,746$2,562$1,720$1,138$224
33 years$5,140$3,548$2,392$1,581$1,030$191
34 years$4,934$3,362$2,235$1,455$932$162
35 years$4,741$3,189$2,089$1,340$844$138
36 years$4,558$3,027$1,955$1,234$765$117
37 years$4,386$2,875$1,829$1,137$693$100
38 years$4,224$2,732$1,713$1,048$629$85
39 years$4,070$2,598$1,605$966$570$72
40 years$3,924$2,472$1,504$891$517$61
41 years$3,785$2,353$1,411$822$469$52
42 years$3,654$2,241$1,323$759$426$44
43 years$3,529$2,135$1,242$700$386$38
44 years$3,410$2,035$1,166$647$351$32
45 years$3,297$1,941$1,094$597$318$27
46 years$3,188$1,851$1,028$552$289$23
47 years$3,085$1,767$966$510$262$20
48 years$2,987$1,687$907$471$238$17
49 years$2,892$1,611$853$435$216$14
50 years$2,802$1,539$802$402$197$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,870,000, adding $5,691 every year, while hoping to spend $44,082 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: 51/27/22 Blend
61$2,870,000$2,870,000$2,870,000$2,870,000
62$3,168,610$3,016,500$2,972,015$3,310,507
63$3,444,906$3,117,406$3,024,675$3,510,175
64$3,747,906$3,221,778$3,077,621$3,722,174
65$4,080,288$3,329,741$3,130,817$3,951,764
66$4,445,001$3,441,422$3,184,223$4,200,628
67$4,845,293$3,556,954$3,237,797$4,470,621
68$5,284,742$3,676,474$3,291,493$4,763,783
69$5,767,290$3,800,126$3,345,262$5,082,357
70$6,297,279$3,928,057$3,399,053$5,428,815
71$6,879,490$4,060,421$3,452,810$5,805,875
72$7,519,194$4,197,377$3,506,475$6,216,530
73$8,222,194$4,339,091$3,559,984$6,664,076
74$8,994,886$4,485,734$3,613,272$7,152,141
75$9,844,314$4,637,485$3,666,266$7,684,717
76$10,778,240$4,794,527$3,718,892$8,266,202
77$11,805,215$4,957,054$3,771,069$8,901,439
78$12,934,661$5,125,264$3,822,714$9,595,761
79$14,176,958$5,299,363$3,873,737$10,355,039
80$15,543,543$5,479,567$3,924,042$11,185,740
81$17,047,016$5,666,098$3,973,529$12,094,986
82$18,701,261$5,859,186$4,022,092$13,090,623
83$20,521,576$6,059,073$4,069,618$14,181,290
84$22,524,816$6,266,006$4,115,990$15,376,504
85$24,729,552$6,480,246$4,161,081$16,686,747
86$27,156,249$6,702,060$4,204,759$18,123,567
87$29,827,454$6,931,728$4,246,886$19,699,683
88$32,768,011$7,169,540$4,287,314$21,429,109
89$36,005,297$7,415,797$4,325,888$23,327,279
90$39,569,478$7,670,811$4,362,445$25,411,200
91$43,493,791$7,934,907$4,396,814$27,699,605
92$47,814,864$8,208,424$4,428,813$30,213,133
93$52,573,054$8,491,710$4,458,252$32,974,524
94$57,812,833$8,785,132$4,484,931$36,008,829
95$63,583,206$9,089,067$4,508,640$39,343,648
96$69,938,171$9,403,909$4,529,158$43,009,393
97$76,937,230$9,730,067$4,546,251$47,039,567
98$84,645,953$10,067,966$4,559,675$51,471,087
99$93,136,591$10,418,047$4,569,175$56,344,627
100$102,488,762$10,780,770$4,574,481$61,705,002