Can I retire at age 62 with 2,900,000?

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 $2,900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$239,479$237,346$235,265$233,234$231,250$222,691
2 years$118,554$116,346$114,206$112,132$110,119$101,593
3 years$78,251$76,033$73,899$71,844$69,864$61,638
4 years$58,103$55,893$53,780$51,759$49,828$41,965
5 years$46,018$43,821$41,735$39,756$37,878$30,400
6 years$37,964$35,783$33,728$31,793$29,972$22,883
7 years$32,213$30,050$28,028$26,139$24,375$17,673
8 years$27,902$25,759$23,770$21,927$20,221$13,901
9 years$24,550$22,428$20,473$18,677$17,029$11,082
10 years$21,871$19,769$17,849$16,100$14,510$8,924
11 years$19,680$17,599$15,714$14,012$12,479$7,243
12 years$17,855$15,796$13,946$12,290$10,814$5,915
13 years$16,313$14,275$12,460$10,850$9,430$4,854
14 years$14,992$12,975$11,195$9,632$8,266$3,999
15 years$13,848$11,853$10,108$8,590$7,278$3,305
16 years$12,848$10,875$9,164$7,691$6,433$2,739
17 years$11,967$10,016$8,339$6,911$5,704$2,274
18 years$11,184$9,255$7,612$6,228$5,071$1,892
19 years$10,485$8,577$6,969$5,627$4,520$1,576
20 years$9,856$7,970$6,396$5,097$4,038$1,314
21 years$9,288$7,424$5,883$4,626$3,613$1,097
22 years$8,772$6,930$5,422$4,206$3,239$917
23 years$8,302$6,482$5,006$3,830$2,907$766
24 years$7,872$6,073$4,630$3,493$2,613$641
25 years$7,477$5,699$4,288$3,190$2,351$536
26 years$7,112$5,356$3,977$2,917$2,118$449
27 years$6,776$5,041$3,693$2,670$1,910$376
28 years$6,463$4,750$3,433$2,446$1,723$315
29 years$6,173$4,481$3,195$2,243$1,556$264
30 years$5,903$4,232$2,976$2,059$1,406$221
31 years$5,651$4,001$2,774$1,891$1,271$185
32 years$5,415$3,785$2,588$1,738$1,150$156
33 years$5,193$3,585$2,417$1,598$1,040$130
34 years$4,986$3,398$2,258$1,470$942$109
35 years$4,790$3,223$2,111$1,354$853$92
36 years$4,606$3,059$1,975$1,247$773$77
37 years$4,432$2,905$1,849$1,149$701$64
38 years$4,268$2,761$1,731$1,059$635$54
39 years$4,112$2,625$1,622$976$576$45
40 years$3,965$2,498$1,520$900$522$38
41 years$3,825$2,378$1,425$831$474$32
42 years$3,692$2,264$1,337$767$430$27
43 years$3,566$2,157$1,255$708$390$22
44 years$3,446$2,056$1,178$653$354$19
45 years$3,331$1,961$1,106$603$322$16
46 years$3,222$1,871$1,039$557$292$13
47 years$3,118$1,785$976$515$265$11
48 years$3,018$1,704$917$476$241$9
49 years$2,923$1,628$862$440$219$8
50 years$2,831$1,555$810$406$199$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,900,000, adding $3,723 every year, while hoping to spend $28,227 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: 47/38/15 Blend
61$2,900,000$2,900,000$2,900,000$2,900,000
62$3,199,640$3,045,940$3,000,990$3,336,348
63$3,495,970$3,165,158$3,071,490$3,550,706
64$3,821,580$3,289,271$3,143,406$3,780,043
65$4,179,426$3,418,491$3,216,755$4,028,335
66$4,572,765$3,553,035$3,291,554$4,297,362
67$5,005,187$3,693,133$3,367,821$4,589,074
68$5,480,645$3,839,026$3,445,572$4,905,618
69$6,003,495$3,990,962$3,524,823$5,249,353
70$6,578,537$4,149,204$3,605,589$5,622,871
71$7,211,057$4,314,024$3,687,885$6,029,021
72$7,906,881$4,485,708$3,771,726$6,470,937
73$8,672,429$4,664,554$3,857,125$6,952,065
74$9,514,773$4,850,873$3,944,095$7,476,194
75$10,441,705$5,044,991$4,032,647$8,047,491
76$11,461,812$5,247,248$4,122,794$8,670,543
77$12,584,553$5,458,001$4,214,544$9,350,390
78$13,820,354$5,677,619$4,307,908$10,092,584
79$15,180,700$5,906,492$4,402,893$10,903,228
80$16,678,248$6,145,027$4,499,506$11,789,041
81$18,326,942$6,393,646$4,597,753$12,757,416
82$20,142,151$6,652,795$4,697,637$13,816,489
83$22,140,804$6,922,936$4,799,163$14,975,217
84$24,341,562$7,204,556$4,902,330$16,243,456
85$26,764,982$7,498,160$5,007,139$17,632,057
86$29,433,719$7,804,279$5,113,587$19,152,964
87$32,372,737$8,123,467$5,221,671$20,819,327
88$35,609,544$8,456,304$5,331,384$22,645,625
89$39,174,450$8,803,396$5,442,718$24,647,797
90$43,100,858$9,165,376$5,555,663$26,843,394
91$47,425,573$9,542,907$5,670,206$29,251,742
92$52,189,156$9,936,684$5,786,332$31,894,123
93$57,436,298$10,347,429$5,904,022$34,793,971
94$63,216,249$10,775,903$6,023,256$37,977,093
95$69,583,282$11,222,897$6,144,011$41,471,912
96$76,597,199$11,689,242$6,266,258$45,309,729
97$84,323,904$12,175,805$6,389,967$49,525,018
98$92,836,017$12,683,494$6,515,106$54,155,751
99$102,213,564$13,213,258$6,641,635$59,243,748
100$112,544,731$13,766,092$6,769,514$64,835,075