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%19.1%
1 years$280,769$278,268$275,828$273,446$271,121$261,190
2 years$138,994$136,406$133,897$131,465$129,105$119,210
3 years$91,743$89,143$86,640$84,231$81,910$72,362
4 years$68,121$65,529$63,052$60,683$58,419$49,291
5 years$53,952$51,376$48,931$46,611$44,409$35,726
6 years$44,509$41,952$39,543$37,275$35,139$26,906
7 years$37,767$35,231$32,861$30,646$28,578$20,793
8 years$32,712$30,200$27,869$25,708$23,708$16,365
9 years$28,783$26,294$24,003$21,897$19,965$13,053
10 years$25,642$23,177$20,926$18,876$17,012$10,519
11 years$23,073$20,633$18,423$16,428$14,631$8,543
12 years$20,934$18,519$16,350$14,409$12,679$6,981
13 years$19,126$16,736$14,608$12,721$11,056$5,733
14 years$17,577$15,213$13,125$11,292$9,692$4,726
15 years$16,236$13,897$11,850$10,071$8,533$3,909
16 years$15,063$12,750$10,744$9,017$7,542$3,241
17 years$14,030$11,742$9,777$8,102$6,687$2,694
18 years$13,112$10,851$8,925$7,302$5,946$2,242
19 years$12,293$10,056$8,170$6,598$5,300$1,869
20 years$11,556$9,345$7,498$5,975$4,734$1,560
21 years$10,890$8,704$6,897$5,423$4,236$1,303
22 years$10,285$8,125$6,357$4,931$3,797$1,090
23 years$9,734$7,599$5,869$4,491$3,408$912
24 years$9,229$7,120$5,428$4,096$3,064$763
25 years$8,766$6,682$5,027$3,740$2,757$639
26 years$8,339$6,280$4,663$3,420$2,483$536
27 years$7,944$5,910$4,330$3,130$2,239$449
28 years$7,578$5,569$4,025$2,868$2,020$376
29 years$7,238$5,254$3,746$2,630$1,824$316
30 years$6,921$4,962$3,489$2,414$1,648$265
31 years$6,625$4,690$3,253$2,217$1,490$222
32 years$6,348$4,438$3,035$2,037$1,348$186
33 years$6,089$4,203$2,834$1,874$1,220$156
34 years$5,845$3,983$2,648$1,724$1,104$131
35 years$5,616$3,778$2,475$1,587$1,000$110
36 years$5,400$3,586$2,316$1,461$906$92
37 years$5,196$3,406$2,167$1,347$821$78
38 years$5,003$3,237$2,030$1,241$745$65
39 years$4,821$3,078$1,901$1,144$675$55
40 years$4,648$2,928$1,782$1,056$613$46
41 years$4,484$2,788$1,671$974$556$39
42 years$4,329$2,655$1,568$899$504$32
43 years$4,181$2,529$1,471$830$458$27
44 years$4,040$2,411$1,381$766$415$23
45 years$3,905$2,299$1,297$707$377$19
46 years$3,777$2,193$1,218$654$342$16
47 years$3,655$2,093$1,144$604$311$13
48 years$3,538$1,998$1,075$558$282$11
49 years$3,426$1,908$1,011$516$256$10
50 years$3,320$1,823$950$477$233$8

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 $3,354 every year, while hoping to spend $23,129 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: 74/8/18 Blend
61$3,400,000$3,400,000$3,400,000$3,400,000
62$3,750,260$3,570,060$3,517,360$4,011,900
63$4,108,177$3,720,383$3,610,582$4,336,130
64$4,501,827$3,877,298$3,706,152$4,688,157
65$4,934,829$4,041,102$3,804,125$5,073,302
66$5,411,173$4,212,107$3,904,554$5,494,855
67$5,935,254$4,390,641$4,007,497$5,956,438
68$6,511,912$4,577,045$4,113,011$6,462,038
69$7,146,485$4,771,678$4,221,155$7,016,049
70$7,844,851$4,974,915$4,331,988$7,623,306
71$8,613,486$5,187,146$4,445,570$8,289,135
72$9,459,529$5,408,784$4,561,964$9,019,404
73$10,390,844$5,640,257$4,681,233$9,820,572
74$11,416,096$5,882,015$4,803,440$10,699,758
75$12,544,833$6,134,529$4,928,650$11,664,797
76$13,787,576$6,398,292$5,056,930$12,724,324
77$15,155,920$6,673,818$5,188,348$13,887,850
78$16,662,637$6,961,649$5,322,971$15,165,849
79$18,321,805$7,262,349$5,460,870$16,569,861
80$20,148,936$7,576,511$5,602,116$18,112,598
81$22,161,120$7,904,752$5,746,779$19,808,064
82$24,377,192$8,247,723$5,894,934$21,671,686
83$26,817,906$8,606,102$6,046,655$23,720,459
84$29,506,132$8,980,601$6,202,018$25,973,106
85$32,467,070$9,371,962$6,361,098$28,450,256
86$35,728,490$9,780,967$6,523,973$31,174,633
87$39,320,992$10,208,431$6,690,723$34,171,275
88$43,278,299$10,655,210$6,861,427$37,467,768
89$47,637,567$11,122,197$7,036,167$41,094,505
90$52,439,744$11,610,330$7,215,024$45,084,969
91$57,729,953$12,120,591$7,398,082$49,476,057
92$63,557,915$12,654,007$7,585,425$54,308,417
93$69,978,424$13,211,655$7,777,138$59,626,839
94$77,051,860$13,794,662$7,973,309$65,480,672
95$84,844,758$14,404,209$8,174,023$71,924,290
96$93,430,441$15,041,533$8,379,370$79,017,606
97$102,889,706$15,707,928$8,589,440$86,826,635
98$113,311,592$16,404,752$8,804,321$95,424,116
99$124,794,214$17,133,425$9,024,105$104,890,198
100$137,445,696$17,895,435$9,248,885$115,313,194