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%18.8%
1 years$264,253$261,899$259,603$257,361$255,172$246,119
2 years$130,818$128,382$126,021$123,731$121,511$112,486
3 years$86,346$83,899$81,544$79,276$77,091$68,379
4 years$64,114$61,675$59,343$57,114$54,982$46,649
5 years$50,778$48,354$46,053$43,869$41,797$33,864
6 years$41,891$39,484$37,217$35,082$33,072$25,546
7 years$35,545$33,159$30,928$28,843$26,897$19,776
8 years$30,788$28,423$26,229$24,196$22,313$15,592
9 years$27,090$24,748$22,591$20,609$18,791$12,460
10 years$24,133$21,814$19,696$17,766$16,011$10,059
11 years$21,716$19,420$17,340$15,461$13,770$8,186
12 years$19,703$17,430$15,388$13,562$11,933$6,703
13 years$18,000$15,752$13,749$11,973$10,406$5,516
14 years$16,543$14,318$12,353$10,628$9,121$4,557
15 years$15,281$13,080$11,153$9,478$8,031$3,777
16 years$14,177$12,000$10,112$8,487$7,098$3,139
17 years$13,205$11,052$9,202$7,625$6,294$2,614
18 years$12,341$10,212$8,400$6,872$5,596$2,181
19 years$11,569$9,465$7,690$6,210$4,988$1,822
20 years$10,876$8,795$7,057$5,624$4,455$1,524
21 years$10,249$8,192$6,491$5,104$3,987$1,276
22 years$9,680$7,647$5,983$4,641$3,574$1,070
23 years$9,161$7,152$5,524$4,226$3,208$897
24 years$8,686$6,701$5,109$3,855$2,883$753
25 years$8,250$6,289$4,732$3,520$2,595$632
26 years$7,848$5,910$4,388$3,219$2,337$531
27 years$7,477$5,562$4,075$2,946$2,107$446
28 years$7,132$5,241$3,788$2,699$1,901$375
29 years$6,812$4,945$3,525$2,475$1,717$315
30 years$6,514$4,670$3,284$2,272$1,551$265
31 years$6,235$4,414$3,061$2,087$1,402$223
32 years$5,975$4,177$2,856$1,918$1,269$187
33 years$5,731$3,956$2,667$1,763$1,148$158
34 years$5,501$3,749$2,492$1,622$1,039$133
35 years$5,286$3,556$2,330$1,494$942$112
36 years$5,082$3,375$2,179$1,376$853$94
37 years$4,890$3,206$2,040$1,267$773$79
38 years$4,709$3,046$1,910$1,168$701$67
39 years$4,538$2,897$1,790$1,077$636$56
40 years$4,375$2,756$1,677$993$577$47
41 years$4,221$2,624$1,573$917$523$40
42 years$4,074$2,499$1,475$846$475$33
43 years$3,935$2,381$1,384$781$431$28
44 years$3,802$2,269$1,300$721$391$24
45 years$3,676$2,164$1,220$666$355$20
46 years$3,555$2,064$1,146$615$322$17
47 years$3,440$1,970$1,077$568$293$14
48 years$3,330$1,881$1,012$525$266$12
49 years$3,225$1,796$951$485$241$10
50 years$3,124$1,715$894$449$219$8

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 $2,272 every year, while hoping to spend $23,174 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: 42/40/18 Blend
61$3,200,000$3,200,000$3,200,000$3,200,000
62$3,528,744$3,359,144$3,309,544$3,658,254
63$3,864,018$3,499,085$3,395,756$3,890,039
64$4,232,715$3,645,106$3,484,081$4,138,441
65$4,638,217$3,797,482$3,574,562$4,406,948
66$5,084,254$3,956,497$3,667,249$4,697,413
67$5,574,934$4,122,452$3,762,188$5,011,874
68$6,114,784$4,295,659$3,859,429$5,352,566
69$6,708,792$4,476,446$3,959,020$5,721,944
70$7,362,454$4,665,157$4,061,011$6,122,705
71$8,081,824$4,862,149$4,165,455$6,557,812
72$8,873,574$5,067,798$4,272,402$7,030,520
73$9,745,056$5,282,498$4,381,904$7,544,405
74$10,704,370$5,506,658$4,494,016$8,103,401
75$11,760,441$5,740,710$4,608,792$8,711,828
76$12,923,105$5,985,104$4,726,285$9,374,437
77$14,203,198$6,240,311$4,846,552$10,096,453
78$15,612,662$6,506,824$4,969,649$10,883,620
79$17,164,654$6,785,159$5,095,633$11,742,255
80$18,873,674$7,075,856$5,224,562$12,679,306
81$20,755,697$7,379,482$5,356,494$13,702,417
82$22,828,330$7,696,629$5,491,488$14,819,995
83$25,110,972$8,027,915$5,629,605$16,041,290
84$27,624,998$8,373,990$5,770,904$17,376,480
85$30,393,966$8,735,534$5,915,447$18,836,764
86$33,443,831$9,113,256$6,063,295$20,434,465
87$36,803,198$9,507,901$6,214,512$22,183,147
88$40,503,585$9,920,249$6,369,159$24,097,736
89$44,579,725$10,351,116$6,527,300$26,194,663
90$49,069,892$10,801,356$6,688,999$28,492,013
91$54,016,262$11,271,863$6,854,321$31,009,693
92$59,465,310$11,763,574$7,023,331$33,769,620
93$65,468,252$12,277,469$7,196,093$36,795,922
94$72,081,525$12,814,576$7,372,673$40,115,163
95$79,367,320$13,375,970$7,553,137$43,756,592
96$87,394,171$13,962,777$7,737,551$47,752,414
97$96,237,599$14,576,176$7,925,982$52,138,090
98$105,980,827$15,217,401$8,118,496$56,952,670
99$116,715,565$15,887,748$8,315,159$62,239,156
100$128,542,874$16,588,569$8,516,038$68,044,905