Can I retire at age 62 with 3,400,000?

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 $3,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$280,769$278,268$275,828$273,446$271,121$264,031
2 years$138,994$136,406$133,897$131,465$129,105$122,011
3 years$91,743$89,143$86,640$84,231$81,910$75,032
4 years$68,121$65,529$63,052$60,683$58,419$51,811
5 years$53,952$51,376$48,931$46,611$44,409$38,090
6 years$44,509$41,952$39,543$37,275$35,139$29,115
7 years$37,767$35,231$32,861$30,646$28,578$22,848
8 years$32,712$30,200$27,869$25,708$23,708$18,271
9 years$28,783$26,294$24,003$21,897$19,965$14,816
10 years$25,642$23,177$20,926$18,876$17,012$12,143
11 years$23,073$20,633$18,423$16,428$14,631$10,036
12 years$20,934$18,519$16,350$14,409$12,679$8,349
13 years$19,126$16,736$14,608$12,721$11,056$6,983
14 years$17,577$15,213$13,125$11,292$9,692$5,866
15 years$16,236$13,897$11,850$10,071$8,533$4,945
16 years$15,063$12,750$10,744$9,017$7,542$4,181
17 years$14,030$11,742$9,777$8,102$6,687$3,544
18 years$13,112$10,851$8,925$7,302$5,946$3,010
19 years$12,293$10,056$8,170$6,598$5,300$2,561
20 years$11,556$9,345$7,498$5,975$4,734$2,182
21 years$10,890$8,704$6,897$5,423$4,236$1,861
22 years$10,285$8,125$6,357$4,931$3,797$1,589
23 years$9,734$7,599$5,869$4,491$3,408$1,358
24 years$9,229$7,120$5,428$4,096$3,064$1,162
25 years$8,766$6,682$5,027$3,740$2,757$994
26 years$8,339$6,280$4,663$3,420$2,483$851
27 years$7,944$5,910$4,330$3,130$2,239$729
28 years$7,578$5,569$4,025$2,868$2,020$625
29 years$7,238$5,254$3,746$2,630$1,824$536
30 years$6,921$4,962$3,489$2,414$1,648$460
31 years$6,625$4,690$3,253$2,217$1,490$394
32 years$6,348$4,438$3,035$2,037$1,348$338
33 years$6,089$4,203$2,834$1,874$1,220$290
34 years$5,845$3,983$2,648$1,724$1,104$249
35 years$5,616$3,778$2,475$1,587$1,000$214
36 years$5,400$3,586$2,316$1,461$906$184
37 years$5,196$3,406$2,167$1,347$821$158
38 years$5,003$3,237$2,030$1,241$745$135
39 years$4,821$3,078$1,901$1,144$675$116
40 years$4,648$2,928$1,782$1,056$613$100
41 years$4,484$2,788$1,671$974$556$86
42 years$4,329$2,655$1,568$899$504$74
43 years$4,181$2,529$1,471$830$458$63
44 years$4,040$2,411$1,381$766$415$54
45 years$3,905$2,299$1,297$707$377$47
46 years$3,777$2,193$1,218$654$342$40
47 years$3,655$2,093$1,144$604$311$34
48 years$3,538$1,998$1,075$558$282$30
49 years$3,426$1,908$1,011$516$256$25
50 years$3,320$1,823$950$477$233$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $3,400,000, adding $4,034 every year, while hoping to spend $49,139 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: 39/45/16 Blend
61$3,400,000$3,400,000$3,400,000$3,400,000
62$3,750,961$3,570,761$3,518,061$3,879,133
63$4,081,276$3,693,445$3,583,633$4,093,644
64$4,443,635$3,820,493$3,649,754$4,320,396
65$4,841,257$3,952,068$3,716,391$4,564,529
66$5,277,683$4,088,338$3,783,509$4,827,639
67$5,756,818$4,229,477$3,851,067$5,111,479
68$6,282,960$4,375,668$3,919,025$5,417,977
69$6,860,845$4,527,099$3,987,335$5,749,248
70$7,495,691$4,683,967$4,055,950$6,107,621
71$8,193,244$4,846,474$4,124,818$6,495,653
72$8,959,838$5,014,834$4,193,882$6,916,156
73$9,802,447$5,189,266$4,263,082$7,372,222
74$10,728,756$5,370,000$4,332,355$7,867,252
75$11,747,232$5,557,273$4,401,632$8,404,987
76$12,867,203$5,751,333$4,470,840$8,989,539
77$14,098,947$5,952,437$4,539,902$9,625,434
78$15,453,785$6,160,852$4,608,735$10,317,653
79$16,944,195$6,376,858$4,677,252$11,071,672
80$18,583,922$6,600,743$4,745,358$11,893,523
81$20,388,111$6,832,808$4,812,956$12,789,839
82$22,373,448$7,073,365$4,879,940$13,767,922
83$24,558,321$7,322,742$4,946,200$14,835,811
84$26,962,989$7,581,275$5,011,617$16,002,353
85$29,609,774$7,849,318$5,076,066$17,277,288
86$32,523,273$8,127,236$5,139,416$18,671,337
87$35,730,588$8,415,411$5,201,527$20,196,306
88$39,261,581$8,714,241$5,262,252$21,865,194
89$43,149,161$9,024,136$5,321,436$23,692,310
90$47,429,584$9,345,528$5,378,913$25,693,416
91$52,142,806$9,678,863$5,434,511$27,885,865
92$57,332,852$10,024,607$5,488,046$30,288,767
93$63,048,233$10,383,244$5,539,327$32,923,170
94$69,342,408$10,755,278$5,588,149$35,812,253
95$76,274,282$11,141,234$5,634,300$38,981,546
96$83,908,763$11,541,659$5,677,554$42,459,164
97$92,317,378$11,957,122$5,717,673$46,276,080
98$101,578,945$12,388,215$5,754,409$50,466,406
99$111,780,315$12,835,555$5,787,499$55,067,717
100$123,017,195$13,299,785$5,816,668$60,121,404