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%13.7%
1 years$237,002$234,891$232,831$230,821$228,858$225,345
2 years$117,328$115,143$113,025$110,972$108,980$105,449
3 years$77,441$75,247$73,135$71,101$69,141$65,703
4 years$57,502$55,314$53,223$51,224$49,312$45,992
5 years$45,542$43,367$41,303$39,345$37,486$34,294
6 years$37,571$35,413$33,379$31,464$29,662$26,602
7 years$31,880$29,739$27,738$25,869$24,123$21,196
8 years$27,613$25,492$23,524$21,701$20,012$17,217
9 years$24,296$22,196$20,261$18,484$16,853$14,189
10 years$21,645$19,564$17,664$15,933$14,360$11,825
11 years$19,476$17,417$15,551$13,867$12,350$9,941
12 years$17,671$15,632$13,802$12,163$10,702$8,417
13 years$16,144$14,127$12,331$10,738$9,332$7,167
14 years$14,837$12,841$11,079$9,532$8,181$6,132
15 years$13,705$11,731$10,003$8,501$7,203$5,267
16 years$12,715$10,763$9,069$7,612$6,366$4,539
17 years$11,843$9,912$8,253$6,839$5,645$3,923
18 years$11,068$9,159$7,534$6,163$5,019$3,398
19 years$10,376$8,489$6,897$5,569$4,473$2,949
20 years$9,754$7,888$6,329$5,044$3,996$2,565
21 years$9,192$7,347$5,822$4,578$3,576$2,233
22 years$8,682$6,859$5,366$4,162$3,205$1,947
23 years$8,216$6,415$4,954$3,791$2,877$1,700
24 years$7,791$6,010$4,582$3,457$2,586$1,485
25 years$7,399$5,640$4,244$3,157$2,327$1,299
26 years$7,039$5,301$3,936$2,887$2,096$1,136
27 years$6,706$4,989$3,655$2,642$1,890$995
28 years$6,397$4,701$3,398$2,421$1,705$872
29 years$6,110$4,435$3,162$2,220$1,540$764
30 years$5,842$4,188$2,945$2,038$1,391$670
31 years$5,592$3,959$2,746$1,871$1,258$588
32 years$5,359$3,746$2,562$1,720$1,138$516
33 years$5,140$3,548$2,392$1,581$1,030$453
34 years$4,934$3,362$2,235$1,455$932$397
35 years$4,741$3,189$2,089$1,340$844$349
36 years$4,558$3,027$1,955$1,234$765$307
37 years$4,386$2,875$1,829$1,137$693$269
38 years$4,224$2,732$1,713$1,048$629$237
39 years$4,070$2,598$1,605$966$570$208
40 years$3,924$2,472$1,504$891$517$183
41 years$3,785$2,353$1,411$822$469$161
42 years$3,654$2,241$1,323$759$426$141
43 years$3,529$2,135$1,242$700$386$124
44 years$3,410$2,035$1,166$647$351$109
45 years$3,297$1,941$1,094$597$318$96
46 years$3,188$1,851$1,028$552$289$84
47 years$3,085$1,767$966$510$262$74
48 years$2,987$1,687$907$471$238$65
49 years$2,892$1,611$853$435$216$57
50 years$2,802$1,539$802$402$197$50

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 $3,088 every year, while hoping to spend $31,478 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: 57/35/8 Blend
61$2,870,000$2,870,000$2,870,000$2,870,000
62$3,165,925$3,013,815$2,969,330$3,340,422
63$3,455,357$3,128,000$3,035,310$3,572,464
64$3,773,256$3,246,725$3,102,446$3,821,372
65$4,122,493$3,370,178$3,170,742$4,091,799
66$4,506,229$3,498,559$3,240,204$4,385,805
67$4,927,948$3,632,072$3,310,835$4,705,653
68$5,391,489$3,770,934$3,382,638$5,053,834
69$5,901,078$3,915,367$3,455,614$5,433,086
70$6,461,375$4,065,607$3,529,764$5,846,421
71$7,077,512$4,221,898$3,605,087$6,297,153
72$7,755,142$4,384,495$3,681,581$6,788,927
73$8,500,496$4,553,664$3,759,243$7,325,754
74$9,320,437$4,729,684$3,838,069$7,912,047
75$10,222,528$4,912,846$3,918,051$8,552,663
76$11,215,102$5,103,451$3,999,181$9,252,947
77$12,307,339$5,301,817$4,081,451$10,018,780
78$13,509,356$5,508,275$4,164,848$10,856,638
79$14,832,299$5,723,169$4,249,359$11,773,648
80$16,288,449$5,946,860$4,334,968$12,777,656
81$17,891,339$6,179,724$4,421,658$13,877,298
82$19,655,881$6,422,155$4,509,408$15,082,084
83$21,598,503$6,674,563$4,598,196$16,402,484
84$23,737,311$6,937,378$4,687,996$17,850,025
85$26,092,254$7,211,047$4,778,781$19,437,401
86$28,685,314$7,496,038$4,870,521$21,178,588
87$31,540,714$7,792,841$4,963,180$23,088,978
88$34,685,143$8,101,966$5,056,723$25,185,522
89$38,148,012$8,423,948$5,151,108$27,486,888
90$41,961,732$8,759,344$5,246,293$30,013,632
91$46,162,014$9,108,737$5,342,229$32,788,399
92$50,788,210$9,472,736$5,438,865$35,836,126
93$55,883,685$9,851,978$5,536,144$39,184,281
94$61,496,224$10,247,127$5,634,007$42,863,120
95$67,678,482$10,658,879$5,732,390$46,905,968
96$74,488,484$11,087,961$5,831,222$51,349,534
97$81,990,170$11,535,132$5,930,429$56,234,253
98$90,254,000$12,001,187$6,029,931$61,604,670
99$99,357,617$12,486,954$6,129,642$67,509,853
100$109,386,581$12,993,301$6,229,472$74,003,857