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%15.2%
1 years$264,253$261,899$259,603$257,361$255,172$249,714
2 years$130,818$128,382$126,021$123,731$121,511$116,038
3 years$86,346$83,899$81,544$79,276$77,091$71,775
4 years$64,114$61,675$59,343$57,114$54,982$49,864
5 years$50,778$48,354$46,053$43,869$41,797$36,890
6 years$41,891$39,484$37,217$35,082$33,072$28,383
7 years$35,545$33,159$30,928$28,843$26,897$22,425
8 years$30,788$28,423$26,229$24,196$22,313$18,059
9 years$27,090$24,748$22,591$20,609$18,791$14,750
10 years$24,133$21,814$19,696$17,766$16,011$12,179
11 years$21,716$19,420$17,340$15,461$13,770$10,143
12 years$19,703$17,430$15,388$13,562$11,933$8,505
13 years$18,000$15,752$13,749$11,973$10,406$7,171
14 years$16,543$14,318$12,353$10,628$9,121$6,073
15 years$15,281$13,080$11,153$9,478$8,031$5,163
16 years$14,177$12,000$10,112$8,487$7,098$4,403
17 years$13,205$11,052$9,202$7,625$6,294$3,764
18 years$12,341$10,212$8,400$6,872$5,596$3,225
19 years$11,569$9,465$7,690$6,210$4,988$2,769
20 years$10,876$8,795$7,057$5,624$4,455$2,380
21 years$10,249$8,192$6,491$5,104$3,987$2,049
22 years$9,680$7,647$5,983$4,641$3,574$1,766
23 years$9,161$7,152$5,524$4,226$3,208$1,524
24 years$8,686$6,701$5,109$3,855$2,883$1,316
25 years$8,250$6,289$4,732$3,520$2,595$1,137
26 years$7,848$5,910$4,388$3,219$2,337$983
27 years$7,477$5,562$4,075$2,946$2,107$851
28 years$7,132$5,241$3,788$2,699$1,901$736
29 years$6,812$4,945$3,525$2,475$1,717$637
30 years$6,514$4,670$3,284$2,272$1,551$552
31 years$6,235$4,414$3,061$2,087$1,402$478
32 years$5,975$4,177$2,856$1,918$1,269$414
33 years$5,731$3,956$2,667$1,763$1,148$359
34 years$5,501$3,749$2,492$1,622$1,039$311
35 years$5,286$3,556$2,330$1,494$942$270
36 years$5,082$3,375$2,179$1,376$853$234
37 years$4,890$3,206$2,040$1,267$773$203
38 years$4,709$3,046$1,910$1,168$701$176
39 years$4,538$2,897$1,790$1,077$636$153
40 years$4,375$2,756$1,677$993$577$133
41 years$4,221$2,624$1,573$917$523$115
42 years$4,074$2,499$1,475$846$475$100
43 years$3,935$2,381$1,384$781$431$87
44 years$3,802$2,269$1,300$721$391$75
45 years$3,676$2,164$1,220$666$355$65
46 years$3,555$2,064$1,146$615$322$57
47 years$3,440$1,970$1,077$568$293$49
48 years$3,330$1,881$1,012$525$266$43
49 years$3,225$1,796$951$485$241$37
50 years$3,124$1,715$894$449$219$32

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 $4,463 every year, while hoping to spend $26,524 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: 65/5/30 Blend
61$3,200,000$3,200,000$3,200,000$3,200,000
62$3,531,004$3,361,404$3,311,804$3,732,025
63$3,862,945$3,497,891$3,394,528$4,005,189
64$4,227,855$3,640,177$3,479,134$4,300,339
65$4,629,069$3,788,519$3,565,658$4,622,408
66$5,070,260$3,943,183$3,654,134$4,974,052
67$5,555,478$4,104,450$3,744,599$5,358,198
68$6,089,182$4,272,613$3,837,088$5,778,065
69$6,676,285$4,447,978$3,931,637$6,237,202
70$7,322,202$4,630,865$4,028,283$6,739,514
71$8,032,898$4,821,609$4,127,062$7,289,304
72$8,814,946$5,020,560$4,228,010$7,891,309
73$9,675,587$5,228,084$4,331,166$8,550,747
74$10,622,802$5,444,565$4,436,564$9,273,365
75$11,665,382$5,670,403$4,544,244$10,065,495
76$12,813,015$5,906,017$4,654,240$10,934,109
77$14,076,377$6,151,846$4,766,591$11,886,888
78$15,467,229$6,408,348$4,881,334$12,932,293
79$16,998,533$6,676,003$4,998,505$14,079,645
80$18,684,569$6,955,314$5,118,141$15,339,211
81$20,541,075$7,246,804$5,240,278$16,722,302
82$22,585,391$7,551,024$5,364,954$18,241,380
83$24,836,625$7,868,548$5,492,204$19,910,173
84$27,315,832$8,199,977$5,622,064$21,743,805
85$30,046,212$8,545,942$5,754,568$23,758,940
86$33,053,333$8,907,100$5,889,753$25,973,936
87$36,365,366$9,284,141$6,027,653$28,409,020
88$40,013,355$9,677,785$6,168,301$31,086,476
89$44,031,508$10,088,788$6,311,730$34,030,859
90$48,457,522$10,517,939$6,457,973$37,269,221
91$53,332,936$10,966,064$6,607,062$40,831,371
92$58,703,523$11,434,029$6,759,026$44,750,151
93$64,619,725$11,922,739$6,913,896$49,061,749
94$71,137,125$12,433,142$7,071,700$53,806,038
95$78,316,976$12,966,229$7,232,466$59,026,954
96$86,226,772$13,523,039$7,396,218$64,772,906
97$94,940,894$14,104,660$7,562,983$71,097,238
98$104,541,305$14,712,228$7,732,783$78,058,727
99$115,118,326$15,346,934$7,905,638$85,722,139
100$126,771,487$16,010,026$8,081,569$94,158,839