Can I retire at age 62 with 3,300,000?

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 $3,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$272,511$270,084$267,715$265,404$263,147$256,577
2 years$134,906$132,394$129,959$127,598$125,308$118,731
3 years$89,044$86,521$84,092$81,753$79,500$73,121
4 years$66,118$63,602$61,197$58,899$56,700$50,568
5 years$52,365$49,865$47,492$45,240$43,103$37,235
6 years$43,200$40,718$38,380$36,179$34,106$28,508
7 years$36,656$34,195$31,894$29,744$27,737$22,410
8 years$31,750$29,312$27,049$24,952$23,011$17,952
9 years$27,937$25,521$23,297$21,253$19,378$14,584
10 years$24,887$22,496$20,311$18,321$16,511$11,975
11 years$22,394$20,026$17,881$15,944$14,200$9,916
12 years$20,318$17,975$15,869$13,985$12,306$8,266
13 years$18,563$16,244$14,178$12,347$10,731$6,927
14 years$17,060$14,765$12,739$10,960$9,406$5,831
15 years$15,758$13,488$11,502$9,775$8,282$4,926
16 years$14,620$12,375$10,428$8,752$7,320$4,174
17 years$13,617$11,397$9,489$7,864$6,490$3,545
18 years$12,727$10,531$8,662$7,087$5,771$3,018
19 years$11,931$9,760$7,930$6,404$5,144$2,573
20 years$11,216$9,070$7,278$5,800$4,594$2,197
21 years$10,569$8,448$6,694$5,264$4,112$1,879
22 years$9,982$7,886$6,170$4,786$3,685$1,608
23 years$9,447$7,376$5,697$4,359$3,308$1,378
24 years$8,958$6,911$5,268$3,975$2,973$1,181
25 years$8,508$6,485$4,880$3,630$2,676$1,013
26 years$8,093$6,095$4,526$3,319$2,410$870
27 years$7,710$5,736$4,202$3,038$2,173$747
28 years$7,355$5,405$3,907$2,784$1,961$642
29 years$7,025$5,099$3,635$2,553$1,770$552
30 years$6,717$4,816$3,386$2,343$1,600$474
31 years$6,430$4,552$3,157$2,152$1,446$408
32 years$6,162$4,307$2,945$1,977$1,308$351
33 years$5,910$4,079$2,750$1,818$1,184$302
34 years$5,673$3,866$2,570$1,673$1,072$260
35 years$5,451$3,667$2,402$1,540$971$223
36 years$5,241$3,481$2,247$1,418$880$192
37 years$5,043$3,306$2,104$1,307$797$166
38 years$4,856$3,142$1,970$1,205$723$143
39 years$4,679$2,987$1,846$1,111$655$123
40 years$4,512$2,842$1,730$1,025$595$106
41 years$4,353$2,706$1,622$945$539$91
42 years$4,201$2,577$1,522$872$489$78
43 years$4,058$2,455$1,428$805$444$67
44 years$3,921$2,340$1,340$744$403$58
45 years$3,791$2,232$1,258$687$366$50
46 years$3,666$2,129$1,182$634$332$43
47 years$3,548$2,032$1,110$586$302$37
48 years$3,434$1,939$1,043$541$274$32
49 years$3,326$1,852$981$500$249$28
50 years$3,222$1,769$922$463$226$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $3,300,000, adding $5,858 every year, while hoping to spend $20,115 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: 52/29/19 Blend
61$3,300,000$3,300,000$3,300,000$3,300,000
62$3,642,643$3,467,743$3,416,593$3,812,756
63$3,992,790$3,616,260$3,509,646$4,078,878
64$4,377,978$3,771,380$3,605,143$4,365,597
65$4,801,760$3,933,406$3,703,143$4,677,026
66$5,268,050$4,102,654$3,803,710$5,015,517
67$5,781,163$4,279,455$3,906,905$5,383,653
68$6,345,849$4,464,156$4,012,794$5,784,278
69$6,967,346$4,657,120$4,121,443$6,220,515
70$7,651,424$4,858,727$4,232,920$6,695,800
71$8,404,440$5,069,376$4,347,294$7,213,911
72$9,233,400$5,289,482$4,464,635$7,779,002
73$10,146,022$5,519,482$4,585,016$8,395,643
74$11,150,813$5,759,833$4,708,510$9,068,863
75$12,257,144$6,011,013$4,835,193$9,804,192
76$13,475,342$6,273,523$4,965,142$10,607,716
77$14,816,788$6,547,886$5,098,435$11,486,131
78$16,294,020$6,834,653$5,235,153$12,446,805
79$17,920,857$7,134,397$5,375,377$13,497,847
80$19,712,524$7,447,722$5,519,192$14,648,182
81$21,685,799$7,775,258$5,666,682$15,907,633
82$23,859,169$8,117,664$5,817,935$17,287,012
83$26,253,008$8,475,634$5,973,039$18,798,222
84$28,889,765$8,849,890$6,132,086$20,454,365
85$31,794,178$9,241,191$6,295,168$22,269,866
86$34,993,507$9,650,333$6,462,379$24,260,607
87$38,517,792$10,078,147$6,633,816$26,444,075
88$42,400,135$10,525,504$6,809,577$28,839,521
89$46,677,013$10,993,318$6,989,763$31,468,147
90$51,388,623$11,482,545$7,174,474$34,353,297
91$56,579,260$11,994,187$7,363,816$37,520,681
92$62,297,734$12,529,292$7,557,894$40,998,608
93$68,597,836$13,088,960$7,756,816$44,818,259
94$75,538,839$13,674,343$7,960,693$49,013,971
95$83,186,061$14,286,646$8,169,637$53,623,562
96$91,611,481$14,927,133$8,383,761$58,688,688
97$100,894,418$15,597,128$8,603,183$64,255,226
98$111,122,279$16,298,018$8,828,020$70,373,710
99$122,391,385$17,031,255$9,058,393$77,099,801
100$134,807,882$17,798,362$9,294,424$84,494,811