Can I retire at age 62 with 3,100,000?

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 $3,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$255,995$253,715$251,490$249,319$247,198$240,249
2 years$126,730$124,370$122,083$119,865$117,714$110,765
3 years$83,648$81,277$78,996$76,799$74,682$67,952
4 years$62,110$59,747$57,489$55,329$53,264$46,804
5 years$49,192$46,843$44,613$42,498$40,490$34,318
6 years$40,582$38,251$36,054$33,986$32,039$26,160
7 years$34,434$32,123$29,961$27,942$26,056$20,472
8 years$29,826$27,535$25,410$23,440$21,616$16,322
9 years$26,243$23,974$21,885$19,965$18,204$13,196
10 years$23,379$21,132$19,080$17,210$15,511$10,781
11 years$21,037$18,813$16,798$14,978$13,340$8,882
12 years$19,087$16,885$14,908$13,138$11,560$7,365
13 years$17,438$15,259$13,319$11,599$10,080$6,139
14 years$16,026$13,870$11,967$10,296$8,836$5,139
15 years$14,803$12,671$10,805$9,182$7,780$4,317
16 years$13,734$11,625$9,796$8,222$6,876$3,637
17 years$12,792$10,706$8,914$7,387$6,097$3,072
18 years$11,956$9,893$8,137$6,657$5,421$2,599
19 years$11,208$9,169$7,449$6,015$4,832$2,203
20 years$10,536$8,520$6,837$5,448$4,316$1,870
21 years$9,929$7,936$6,288$4,945$3,862$1,589
22 years$9,377$7,408$5,796$4,496$3,462$1,352
23 years$8,875$6,929$5,351$4,094$3,108$1,151
24 years$8,415$6,492$4,949$3,734$2,793$980
25 years$7,992$6,092$4,584$3,410$2,514$836
26 years$7,603$5,726$4,251$3,118$2,264$713
27 years$7,243$5,389$3,948$2,854$2,041$608
28 years$6,909$5,078$3,670$2,615$1,842$519
29 years$6,599$4,790$3,415$2,398$1,663$443
30 years$6,310$4,524$3,181$2,201$1,503$379
31 years$6,041$4,276$2,966$2,021$1,359$323
32 years$5,788$4,046$2,767$1,858$1,229$276
33 years$5,552$3,832$2,584$1,708$1,112$236
34 years$5,329$3,632$2,414$1,572$1,007$202
35 years$5,120$3,445$2,257$1,447$912$173
36 years$4,924$3,270$2,111$1,333$826$148
37 years$4,738$3,105$1,976$1,228$749$126
38 years$4,562$2,951$1,850$1,132$679$108
39 years$4,396$2,806$1,734$1,043$616$92
40 years$4,238$2,670$1,625$962$559$79
41 years$4,089$2,542$1,524$888$507$67
42 years$3,947$2,420$1,429$819$460$58
43 years$3,812$2,306$1,341$756$417$49
44 years$3,683$2,198$1,259$698$379$42
45 years$3,561$2,096$1,182$645$344$36
46 years$3,444$2,000$1,110$596$312$31
47 years$3,333$1,908$1,043$550$283$26
48 years$3,226$1,822$980$509$257$23
49 years$3,124$1,740$921$470$234$19
50 years$3,027$1,662$866$435$212$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $3,100,000, adding $3,597 every year, while hoping to spend $46,645 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: 37/34/29 Blend
61$3,100,000$3,100,000$3,100,000$3,100,000
62$3,419,910$3,255,610$3,207,560$3,516,696
63$3,719,111$3,365,505$3,265,384$3,698,638
64$4,047,267$3,479,222$3,323,581$3,890,541
65$4,407,283$3,596,898$3,382,115$4,096,951
66$4,802,356$3,718,677$3,440,946$4,319,212
67$5,236,012$3,844,707$3,500,033$4,558,799
68$5,712,130$3,975,142$3,559,329$4,817,338
69$6,234,987$4,110,144$3,618,787$5,096,615
70$6,809,292$4,249,878$3,678,352$5,398,593
71$7,440,234$4,394,516$3,737,971$5,725,433
72$8,133,528$4,544,237$3,797,584$6,079,512
73$8,895,472$4,699,229$3,857,127$6,463,445
74$9,733,002$4,859,683$3,916,532$6,880,108
75$10,653,761$5,025,801$3,975,729$7,332,669
76$11,666,170$5,197,790$4,034,641$7,824,612
77$12,779,504$5,375,867$4,093,187$8,359,773
78$14,003,986$5,560,256$4,151,280$8,942,374
79$15,350,875$5,751,191$4,208,831$9,577,062
80$16,832,578$5,948,914$4,265,741$10,268,953
81$18,462,767$6,153,677$4,321,909$11,023,681
82$20,256,504$6,365,741$4,377,227$11,847,449
83$22,230,382$6,585,377$4,431,580$12,747,085
84$24,402,690$6,812,870$4,484,846$13,730,110
85$26,793,575$7,048,510$4,536,899$14,804,806
86$29,425,236$7,292,604$4,587,602$15,980,293
87$32,322,137$7,545,469$4,636,814$17,266,616
88$35,511,231$7,807,433$4,684,383$18,674,837
89$39,022,218$8,078,838$4,730,151$20,217,142
90$42,887,824$8,360,041$4,773,951$21,906,950
91$47,144,110$8,651,411$4,815,606$23,759,044
92$51,830,812$8,953,332$4,854,931$25,789,708
93$56,991,714$9,266,205$4,891,731$28,016,880
94$62,675,064$9,590,445$4,925,799$30,460,317
95$68,934,027$9,926,483$4,956,920$33,141,788
96$75,827,187$10,274,770$4,984,866$36,085,271
97$83,419,099$10,635,772$5,009,398$39,317,183
98$91,780,898$11,009,976$5,030,263$42,866,628
99$100,990,972$11,397,887$5,047,199$46,765,669
100$111,135,698$11,800,031$5,059,928$51,049,629