Can I retire at age 62 with 3,200,000?

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 $3,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$264,253$261,899$259,603$257,361$255,172$252,088
2 years$130,818$128,382$126,021$123,731$121,511$118,407
3 years$86,346$83,899$81,544$79,276$77,091$74,064
4 years$64,114$61,675$59,343$57,114$54,982$52,055
5 years$50,778$48,354$46,053$43,869$41,797$38,978
6 years$41,891$39,484$37,217$35,082$33,072$30,366
7 years$35,545$33,159$30,928$28,843$26,897$24,303
8 years$30,788$28,423$26,229$24,196$22,313$19,833
9 years$27,090$24,748$22,591$20,609$18,791$16,422
10 years$24,133$21,814$19,696$17,766$16,011$13,752
11 years$21,716$19,420$17,340$15,461$13,770$11,620
12 years$19,703$17,430$15,388$13,562$11,933$9,888
13 years$18,000$15,752$13,749$11,973$10,406$8,464
14 years$16,543$14,318$12,353$10,628$9,121$7,281
15 years$15,281$13,080$11,153$9,478$8,031$6,288
16 years$14,177$12,000$10,112$8,487$7,098$5,449
17 years$13,205$11,052$9,202$7,625$6,294$4,736
18 years$12,341$10,212$8,400$6,872$5,596$4,126
19 years$11,569$9,465$7,690$6,210$4,988$3,602
20 years$10,876$8,795$7,057$5,624$4,455$3,151
21 years$10,249$8,192$6,491$5,104$3,987$2,760
22 years$9,680$7,647$5,983$4,641$3,574$2,421
23 years$9,161$7,152$5,524$4,226$3,208$2,127
24 years$8,686$6,701$5,109$3,855$2,883$1,870
25 years$8,250$6,289$4,732$3,520$2,595$1,645
26 years$7,848$5,910$4,388$3,219$2,337$1,449
27 years$7,477$5,562$4,075$2,946$2,107$1,277
28 years$7,132$5,241$3,788$2,699$1,901$1,126
29 years$6,812$4,945$3,525$2,475$1,717$993
30 years$6,514$4,670$3,284$2,272$1,551$877
31 years$6,235$4,414$3,061$2,087$1,402$774
32 years$5,975$4,177$2,856$1,918$1,269$684
33 years$5,731$3,956$2,667$1,763$1,148$604
34 years$5,501$3,749$2,492$1,622$1,039$534
35 years$5,286$3,556$2,330$1,494$942$472
36 years$5,082$3,375$2,179$1,376$853$418
37 years$4,890$3,206$2,040$1,267$773$369
38 years$4,709$3,046$1,910$1,168$701$327
39 years$4,538$2,897$1,790$1,077$636$289
40 years$4,375$2,756$1,677$993$577$256
41 years$4,221$2,624$1,573$917$523$226
42 years$4,074$2,499$1,475$846$475$200
43 years$3,935$2,381$1,384$781$431$177
44 years$3,802$2,269$1,300$721$391$157
45 years$3,676$2,164$1,220$666$355$139
46 years$3,555$2,064$1,146$615$322$123
47 years$3,440$1,970$1,077$568$293$109
48 years$3,330$1,881$1,012$525$266$96
49 years$3,225$1,796$951$485$241$85
50 years$3,124$1,715$894$449$219$76

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $3,200,000, adding $6,317 every year, while hoping to spend $56,506 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: 86/9/5 Blend
61$3,200,000$3,200,000$3,200,000$3,200,000
62$3,532,916$3,363,316$3,313,716$3,836,371
63$3,833,151$3,467,997$3,364,604$4,139,673
64$4,162,117$3,575,913$3,415,302$4,464,427
65$4,522,684$3,687,163$3,465,745$4,819,436
66$4,918,013$3,801,850$3,515,863$5,207,704
67$5,351,588$3,920,077$3,565,582$5,632,537
68$5,827,243$4,041,954$3,614,822$6,097,577
69$6,349,203$4,167,592$3,663,500$6,606,834
70$6,922,123$4,297,104$3,711,528$7,164,724
71$7,551,127$4,430,610$3,758,812$7,776,112
72$8,241,862$4,568,230$3,805,252$8,446,356
73$9,000,548$4,710,090$3,850,745$9,181,357
74$9,834,039$4,856,319$3,895,179$9,987,616
75$10,749,881$5,007,049$3,938,438$10,872,294
76$11,756,391$5,162,417$3,980,399$11,843,279
77$12,862,732$5,322,564$4,020,930$12,909,259
78$14,078,995$5,487,634$4,059,896$14,079,809
79$15,416,302$5,657,778$4,097,152$15,365,472
80$16,886,903$5,833,147$4,132,545$16,777,868
81$18,504,297$6,013,901$4,165,915$18,329,795
82$20,283,356$6,200,203$4,197,094$20,035,355
83$22,240,464$6,392,219$4,225,902$21,910,083
84$24,393,676$6,590,122$4,252,155$23,971,096
85$26,762,884$6,794,090$4,275,654$26,237,253
86$29,370,003$7,004,306$4,296,194$28,729,331
87$32,239,184$7,220,958$4,313,557$31,470,225
88$35,397,035$7,444,239$4,327,515$34,485,159
89$38,872,874$7,674,348$4,337,829$37,801,924
90$42,699,007$7,911,491$4,344,246$41,451,145
91$46,911,031$8,155,879$4,346,503$45,466,564
92$51,548,167$8,407,728$4,344,322$49,885,359
93$56,653,636$8,667,263$4,337,413$54,748,496
94$62,275,061$8,934,713$4,325,471$60,101,117
95$68,464,919$9,210,315$4,308,175$65,992,958
96$75,281,032$9,494,312$4,285,190$72,478,829
97$82,787,118$9,786,955$4,256,166$79,619,120
98$91,053,390$10,088,501$4,220,732$87,480,379
99$100,157,213$10,399,215$4,178,504$96,135,933
100$110,183,843$10,719,370$4,129,078$105,666,584