Can I retire at age 62 with 2,910,000?

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 $2,910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$240,305$238,165$236,076$234,038$232,047$226,254
2 years$118,963$116,747$114,600$112,518$110,499$104,699
3 years$78,521$76,296$74,154$72,091$70,105$64,480
4 years$58,304$56,085$53,965$51,938$49,999$44,592
5 years$46,177$43,972$41,879$39,893$38,009$32,834
6 years$38,095$35,906$33,845$31,903$30,075$25,139
7 years$32,324$30,154$28,125$26,229$24,459$19,762
8 years$27,998$25,847$23,852$22,003$20,291$15,830
9 years$24,635$22,505$20,544$18,742$17,088$12,860
10 years$21,946$19,837$17,911$16,156$14,560$10,560
11 years$19,748$17,660$15,768$14,060$12,522$8,744
12 years$17,917$15,850$13,994$12,333$10,851$7,289
13 years$16,369$14,324$12,503$10,888$9,463$6,108
14 years$15,044$13,020$11,234$9,665$8,295$5,142
15 years$13,896$11,894$10,142$8,620$7,303$4,344
16 years$12,892$10,913$9,196$7,718$6,455$3,681
17 years$12,008$10,050$8,368$6,934$5,723$3,126
18 years$11,223$9,287$7,639$6,249$5,089$2,661
19 years$10,521$8,607$6,993$5,647$4,536$2,269
20 years$9,890$7,998$6,418$5,114$4,051$1,938
21 years$9,320$7,450$5,903$4,641$3,626$1,657
22 years$8,803$6,954$5,441$4,220$3,250$1,418
23 years$8,331$6,504$5,023$3,843$2,917$1,215
24 years$7,899$6,094$4,646$3,505$2,622$1,042
25 years$7,502$5,719$4,303$3,201$2,359$894
26 years$7,137$5,375$3,991$2,927$2,125$767
27 years$6,799$5,058$3,706$2,679$1,916$659
28 years$6,486$4,766$3,445$2,455$1,729$566
29 years$6,195$4,497$3,206$2,251$1,561$486
30 years$5,924$4,246$2,986$2,066$1,411$418
31 years$5,670$4,014$2,784$1,897$1,275$360
32 years$5,433$3,798$2,597$1,744$1,154$309
33 years$5,211$3,597$2,425$1,604$1,044$266
34 years$5,003$3,409$2,266$1,475$945$229
35 years$4,807$3,234$2,119$1,358$856$197
36 years$4,622$3,069$1,982$1,251$776$170
37 years$4,447$2,915$1,855$1,152$703$146
38 years$4,282$2,770$1,737$1,062$637$126
39 years$4,126$2,634$1,627$979$578$108
40 years$3,978$2,506$1,525$903$524$93
41 years$3,838$2,386$1,430$834$476$80
42 years$3,705$2,272$1,342$769$432$69
43 years$3,578$2,165$1,259$710$392$59
44 years$3,457$2,064$1,182$656$356$51
45 years$3,343$1,968$1,110$606$323$44
46 years$3,233$1,877$1,042$559$293$38
47 years$3,128$1,791$979$517$266$33
48 years$3,028$1,710$920$477$242$28
49 years$2,933$1,633$865$441$219$24
50 years$2,841$1,560$813$408$199$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,910,000, adding $6,341 every year, while hoping to spend $35,963 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: 53/30/17 Blend
61$2,910,000$2,910,000$2,910,000$2,910,000
62$3,213,361$3,059,131$3,014,026$3,368,566
63$3,502,859$3,170,764$3,076,731$3,587,135
64$3,820,681$3,286,662$3,140,332$3,820,499
65$4,169,678$3,406,995$3,204,820$4,073,625
66$4,552,989$3,531,942$3,270,186$4,348,403
67$4,974,076$3,661,689$3,336,419$4,646,910
68$5,436,749$3,796,429$3,403,506$4,971,430
69$5,945,207$3,936,364$3,471,434$5,324,476
70$6,504,076$4,081,703$3,540,184$5,708,815
71$7,118,452$4,232,667$3,609,741$6,127,488
72$7,793,949$4,389,483$3,680,083$6,583,843
73$8,536,754$4,552,390$3,751,188$7,081,564
74$9,353,682$4,721,636$3,823,031$7,624,705
75$10,252,240$4,897,479$3,895,585$8,217,729
76$11,240,703$5,080,190$3,968,822$8,865,547
77$12,328,186$5,270,050$4,042,708$9,573,566
78$13,524,730$5,467,352$4,117,208$10,347,739
79$14,841,403$5,672,402$4,192,285$11,194,618
80$16,290,397$5,885,521$4,267,898$12,121,418
81$17,885,146$6,107,040$4,344,001$13,136,082
82$19,640,453$6,337,307$4,420,547$14,247,357
83$21,572,629$6,576,684$4,497,484$15,464,875
84$23,699,645$6,825,550$4,574,758$16,799,242
85$26,041,305$7,084,298$4,652,309$18,262,137
86$28,619,429$7,353,340$4,730,073$19,866,424
87$31,458,063$7,633,106$4,807,982$21,626,270
88$34,583,700$7,924,043$4,885,964$23,557,278
89$38,025,535$8,226,618$4,963,941$25,676,631
90$41,815,737$8,541,320$5,041,831$28,003,259
91$45,989,755$8,868,658$5,119,545$30,558,011
92$50,586,651$9,209,163$5,196,991$33,363,851
93$55,649,467$9,563,389$5,274,067$36,446,077
94$61,225,634$9,931,917$5,350,670$39,832,555
95$67,367,418$10,315,350$5,426,687$43,553,982
96$74,132,412$10,714,319$5,501,998$47,644,174
97$81,584,081$11,129,484$5,576,478$52,140,384
98$89,792,360$11,561,532$5,649,993$57,083,651
99$98,834,315$12,011,181$5,722,403$62,519,188
100$108,794,869$12,479,182$5,793,556$68,496,804