Can I retire at age 62 with 3,500,000?

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 $3,500,000?

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 years$289,027$286,452$283,940$281,489$279,095$272,237
2 years$143,083$140,418$137,835$135,331$132,902$126,036
3 years$94,441$91,765$89,188$86,708$84,319$77,658
4 years$70,125$67,457$64,906$62,468$60,137$53,733
5 years$55,539$52,887$50,370$47,982$45,715$39,586
6 years$45,818$43,186$40,706$38,371$36,173$30,324
7 years$38,878$36,268$33,827$31,547$29,418$23,851
8 years$33,674$31,088$28,688$26,464$24,405$19,118
9 years$29,630$27,068$24,709$22,542$20,553$15,540
10 years$26,396$23,859$21,542$19,431$17,512$12,768
11 years$23,752$21,240$18,965$16,911$15,061$10,579
12 years$21,550$19,064$16,831$14,833$13,051$8,825
13 years$19,688$17,228$15,038$13,095$11,381$7,401
14 years$18,094$15,660$13,511$11,625$9,977$6,234
15 years$16,713$14,306$12,199$10,367$8,784$5,270
16 years$15,506$13,125$11,060$9,283$7,763$4,468
17 years$14,443$12,088$10,064$8,340$6,884$3,798
18 years$13,498$11,170$9,187$7,516$6,121$3,236
19 years$12,654$10,352$8,411$6,792$5,455$2,761
20 years$11,895$9,620$7,719$6,151$4,873$2,359
21 years$11,210$8,960$7,100$5,583$4,361$2,019
22 years$10,587$8,364$6,544$5,076$3,909$1,729
23 years$10,020$7,823$6,042$4,623$3,509$1,483
24 years$9,501$7,329$5,588$4,216$3,154$1,272
25 years$9,024$6,878$5,175$3,850$2,838$1,092
26 years$8,584$6,464$4,800$3,521$2,556$938
27 years$8,177$6,084$4,457$3,223$2,305$807
28 years$7,801$5,733$4,143$2,953$2,080$694
29 years$7,451$5,408$3,856$2,708$1,878$597
30 years$7,124$5,107$3,592$2,485$1,697$513
31 years$6,820$4,828$3,348$2,282$1,534$442
32 years$6,535$4,569$3,124$2,097$1,388$380
33 years$6,268$4,326$2,917$1,929$1,256$327
34 years$6,017$4,100$2,725$1,775$1,137$282
35 years$5,781$3,889$2,548$1,634$1,030$243
36 years$5,559$3,691$2,384$1,504$933$209
37 years$5,349$3,506$2,231$1,386$846$180
38 years$5,151$3,332$2,089$1,278$767$155
39 years$4,963$3,168$1,957$1,178$695$134
40 years$4,785$3,014$1,835$1,087$631$115
41 years$4,616$2,869$1,720$1,003$572$99
42 years$4,456$2,733$1,614$925$519$86
43 years$4,304$2,604$1,514$854$471$74
44 years$4,158$2,482$1,421$789$428$64
45 years$4,020$2,367$1,335$728$388$55
46 years$3,888$2,258$1,254$673$352$47
47 years$3,763$2,155$1,178$622$320$41
48 years$3,642$2,057$1,107$574$291$35
49 years$3,527$1,964$1,040$531$264$30
50 years$3,417$1,876$978$491$240$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $3,500,000, adding $3,549 every year, while hoping to spend $23,828 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: 71/18/11 Blend
61$3,500,000$3,500,000$3,500,000$3,500,000
62$3,860,661$3,675,161$3,620,911$4,125,934
63$4,229,095$3,829,891$3,716,858$4,456,793
64$4,634,312$3,991,404$3,815,222$4,815,589
65$5,080,036$4,160,008$3,916,057$5,207,702
66$5,570,375$4,336,023$4,019,420$5,636,412
67$6,109,852$4,519,787$4,125,369$6,105,327
68$6,703,451$4,711,651$4,233,963$6,618,421
69$7,356,665$4,911,984$4,345,263$7,180,068
70$8,075,545$5,121,171$4,459,329$7,795,082
71$8,866,759$5,339,616$4,576,224$8,468,763
72$9,737,652$5,567,742$4,696,012$9,206,947
73$10,696,321$5,805,989$4,818,757$10,016,059
74$11,751,685$6,054,822$4,944,525$10,903,172
75$12,913,574$6,314,725$5,073,383$11,876,076
76$14,192,815$6,586,204$5,205,398$12,943,348
77$15,601,345$6,869,790$5,340,642$14,114,433
78$17,152,312$7,166,039$5,479,183$15,399,733
79$18,860,205$7,475,533$5,621,093$16,810,702
80$20,740,992$7,798,880$5,766,446$18,359,958
81$22,812,266$8,136,718$5,915,315$20,061,394
82$25,093,415$8,489,715$6,067,775$21,930,314
83$27,605,801$8,858,569$6,223,903$23,983,574
84$30,372,965$9,244,011$6,383,777$26,239,739
85$33,420,849$9,646,809$6,547,474$28,719,260
86$36,778,036$10,067,763$6,715,075$31,444,664
87$40,476,027$10,507,715$6,886,662$34,440,762
88$44,549,532$10,967,543$7,062,315$37,734,891
89$49,036,800$11,448,169$7,242,118$41,357,159
90$53,979,981$11,950,556$7,426,157$45,340,738
91$59,425,522$12,475,716$7,614,515$49,722,168
92$65,424,604$13,024,705$7,807,280$54,541,707
93$72,033,629$13,598,631$8,004,540$59,843,701
94$79,314,751$14,198,655$8,206,383$65,677,011
95$87,336,458$14,825,992$8,412,900$72,095,464
96$96,174,224$15,481,913$8,624,179$79,158,363
97$105,911,220$16,167,752$8,840,315$86,931,043
98$116,639,098$16,884,905$9,061,398$95,485,491
99$128,458,854$17,634,834$9,287,524$104,901,014
100$141,481,786$18,419,070$9,518,785$115,264,994