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

Use the below retirement simulation to view the chances of a successful retirement.
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%13.9%
1 years$264,253$261,899$259,603$257,361$255,172$251,049
2 years$130,818$128,382$126,021$123,731$121,511$117,367
3 years$86,346$83,899$81,544$79,276$77,091$73,057
4 years$64,114$61,675$59,343$57,114$54,982$51,089
5 years$50,778$48,354$46,053$43,869$41,797$38,055
6 years$41,891$39,484$37,217$35,082$33,072$29,487
7 years$35,545$33,159$30,928$28,843$26,897$23,468
8 years$30,788$28,423$26,229$24,196$22,313$19,041
9 years$27,090$24,748$22,591$20,609$18,791$15,674
10 years$24,133$21,814$19,696$17,766$16,011$13,046
11 years$21,716$19,420$17,340$15,461$13,770$10,954
12 years$19,703$17,430$15,388$13,562$11,933$9,262
13 years$18,000$15,752$13,749$11,973$10,406$7,877
14 years$16,543$14,318$12,353$10,628$9,121$6,730
15 years$15,281$13,080$11,153$9,478$8,031$5,773
16 years$14,177$12,000$10,112$8,487$7,098$4,968
17 years$13,205$11,052$9,202$7,625$6,294$4,287
18 years$12,341$10,212$8,400$6,872$5,596$3,709
19 years$11,569$9,465$7,690$6,210$4,988$3,214
20 years$10,876$8,795$7,057$5,624$4,455$2,791
21 years$10,249$8,192$6,491$5,104$3,987$2,426
22 years$9,680$7,647$5,983$4,641$3,574$2,112
23 years$9,161$7,152$5,524$4,226$3,208$1,841
24 years$8,686$6,701$5,109$3,855$2,883$1,606
25 years$8,250$6,289$4,732$3,520$2,595$1,402
26 years$7,848$5,910$4,388$3,219$2,337$1,225
27 years$7,477$5,562$4,075$2,946$2,107$1,071
28 years$7,132$5,241$3,788$2,699$1,901$937
29 years$6,812$4,945$3,525$2,475$1,717$820
30 years$6,514$4,670$3,284$2,272$1,551$718
31 years$6,235$4,414$3,061$2,087$1,402$628
32 years$5,975$4,177$2,856$1,918$1,269$551
33 years$5,731$3,956$2,667$1,763$1,148$482
34 years$5,501$3,749$2,492$1,622$1,039$423
35 years$5,286$3,556$2,330$1,494$942$371
36 years$5,082$3,375$2,179$1,376$853$325
37 years$4,890$3,206$2,040$1,267$773$285
38 years$4,709$3,046$1,910$1,168$701$250
39 years$4,538$2,897$1,790$1,077$636$219
40 years$4,375$2,756$1,677$993$577$192
41 years$4,221$2,624$1,573$917$523$169
42 years$4,074$2,499$1,475$846$475$148
43 years$3,935$2,381$1,384$781$431$130
44 years$3,802$2,269$1,300$721$391$114
45 years$3,676$2,164$1,220$666$355$100
46 years$3,555$2,064$1,146$615$322$88
47 years$3,440$1,970$1,077$568$293$77
48 years$3,330$1,881$1,012$525$266$68
49 years$3,225$1,796$951$485$241$59
50 years$3,124$1,715$894$449$219$52

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 $4,714 every year, while hoping to spend $50,149 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: 37/44/19 Blend
61$3,200,000$3,200,000$3,200,000$3,200,000
62$3,531,262$3,361,662$3,312,062$3,641,500
63$3,838,093$3,473,026$3,369,658$3,833,141
64$4,174,540$3,588,165$3,427,503$4,034,936
65$4,543,570$3,707,213$3,485,552$4,251,865
66$4,948,453$3,830,305$3,543,757$4,485,313
67$5,392,790$3,957,584$3,602,067$4,736,805
68$5,880,546$4,089,197$3,660,428$5,008,015
69$6,416,090$4,225,297$3,718,781$5,300,784
70$7,004,236$4,366,041$3,777,064$5,617,134
71$7,650,284$4,511,593$3,835,212$5,959,289
72$8,360,075$4,662,123$3,893,153$6,329,697
73$9,140,042$4,817,807$3,950,814$6,731,047
74$9,997,275$4,978,827$4,008,114$7,166,298
75$10,939,581$5,145,374$4,064,970$7,638,705
76$11,975,563$5,317,642$4,121,292$8,151,848
77$13,114,700$5,495,836$4,176,985$8,709,669
78$14,367,435$5,680,168$4,231,949$9,316,502
79$15,745,272$5,870,855$4,286,078$9,977,120
80$17,260,888$6,068,125$4,339,260$10,696,773
81$18,928,249$6,272,213$4,391,375$11,481,243
82$20,762,743$6,483,365$4,442,300$12,336,891
83$22,781,326$6,701,833$4,491,900$13,270,723
84$25,002,679$6,927,880$4,540,036$14,290,449
85$27,447,387$7,161,780$4,586,561$15,404,561
86$30,138,129$7,403,816$4,631,320$16,622,406
87$33,099,897$7,654,282$4,674,148$17,954,277
88$36,360,227$7,913,482$4,714,872$19,411,510
89$39,949,461$8,181,734$4,753,312$21,006,586
90$43,901,032$8,459,365$4,789,274$22,753,252
91$48,251,781$8,746,718$4,822,558$24,666,647
92$53,042,301$9,044,145$4,852,951$26,763,446
93$58,317,321$9,352,014$4,880,232$29,062,011
94$64,126,133$9,670,707$4,904,164$31,582,571
95$70,523,047$10,000,620$4,924,502$34,347,406
96$77,567,912$10,342,165$4,940,987$37,381,057
97$85,326,675$10,695,767$4,953,346$40,710,558
98$93,872,008$11,061,872$4,961,296$44,365,689
99$103,283,989$11,440,939$4,964,534$48,379,255
100$113,650,857$11,833,447$4,962,748$52,787,395