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

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 $3,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$289,027$286,452$283,940$281,489$279,095$268,658
2 years$143,083$140,418$137,835$135,331$132,902$122,507
3 years$94,441$91,765$89,188$86,708$84,319$74,292
4 years$70,125$67,457$64,906$62,468$60,137$50,555
5 years$55,539$52,887$50,370$47,982$45,715$36,603
6 years$45,818$43,186$40,706$38,371$36,173$27,537
7 years$38,878$36,268$33,827$31,547$29,418$21,256
8 years$33,674$31,088$28,688$26,464$24,405$16,709
9 years$29,630$27,068$24,709$22,542$20,553$13,312
10 years$26,396$23,859$21,542$19,431$17,512$10,713
11 years$23,752$21,240$18,965$16,911$15,061$8,690
12 years$21,550$19,064$16,831$14,833$13,051$7,092
13 years$19,688$17,228$15,038$13,095$11,381$5,816
14 years$18,094$15,660$13,511$11,625$9,977$4,788
15 years$16,713$14,306$12,199$10,367$8,784$3,954
16 years$15,506$13,125$11,060$9,283$7,763$3,274
17 years$14,443$12,088$10,064$8,340$6,884$2,717
18 years$13,498$11,170$9,187$7,516$6,121$2,258
19 years$12,654$10,352$8,411$6,792$5,455$1,880
20 years$11,895$9,620$7,719$6,151$4,873$1,566
21 years$11,210$8,960$7,100$5,583$4,361$1,307
22 years$10,587$8,364$6,544$5,076$3,909$1,091
23 years$10,020$7,823$6,042$4,623$3,509$911
24 years$9,501$7,329$5,588$4,216$3,154$762
25 years$9,024$6,878$5,175$3,850$2,838$637
26 years$8,584$6,464$4,800$3,521$2,556$533
27 years$8,177$6,084$4,457$3,223$2,305$446
28 years$7,801$5,733$4,143$2,953$2,080$373
29 years$7,451$5,408$3,856$2,708$1,878$312
30 years$7,124$5,107$3,592$2,485$1,697$262
31 years$6,820$4,828$3,348$2,282$1,534$219
32 years$6,535$4,569$3,124$2,097$1,388$184
33 years$6,268$4,326$2,917$1,929$1,256$154
34 years$6,017$4,100$2,725$1,775$1,137$129
35 years$5,781$3,889$2,548$1,634$1,030$108
36 years$5,559$3,691$2,384$1,504$933$90
37 years$5,349$3,506$2,231$1,386$846$76
38 years$5,151$3,332$2,089$1,278$767$64
39 years$4,963$3,168$1,957$1,178$695$53
40 years$4,785$3,014$1,835$1,087$631$45
41 years$4,616$2,869$1,720$1,003$572$37
42 years$4,456$2,733$1,614$925$519$31
43 years$4,304$2,604$1,514$854$471$26
44 years$4,158$2,482$1,421$789$428$22
45 years$4,020$2,367$1,335$728$388$18
46 years$3,888$2,258$1,254$673$352$15
47 years$3,763$2,155$1,178$622$320$13
48 years$3,642$2,057$1,107$574$291$11
49 years$3,527$1,964$1,040$531$264$9
50 years$3,417$1,876$978$491$240$8

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 $4,315 every year, while hoping to spend $43,321 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: 74/9/17 Blend
61$3,500,000$3,500,000$3,500,000$3,500,000
62$3,861,451$3,675,951$3,621,701$4,131,916
63$4,209,226$3,809,979$3,696,935$4,445,717
64$4,591,022$3,949,123$3,773,237$4,783,731
65$5,010,263$4,093,587$3,850,597$5,152,973
66$5,470,722$4,243,585$3,929,005$5,556,537
67$5,976,555$4,399,340$4,008,445$5,997,832
68$6,532,338$4,561,083$4,088,903$6,480,610
69$7,143,116$4,729,055$4,170,361$7,009,002
70$7,814,445$4,903,510$4,252,799$7,587,561
71$8,552,445$5,084,709$4,336,195$8,221,299
72$9,363,861$5,272,925$4,420,523$8,915,737
73$10,256,121$5,468,445$4,505,757$9,676,956
74$11,237,412$5,671,566$4,591,867$10,511,654
75$12,316,752$5,882,597$4,678,819$11,427,210
76$13,504,079$6,101,862$4,766,577$12,431,751
77$14,810,340$6,329,698$4,855,102$13,534,230
78$16,247,598$6,566,457$4,944,351$14,744,510
79$17,829,144$6,812,505$5,034,279$16,073,456
80$19,569,624$7,068,224$5,124,834$17,533,039
81$21,485,172$7,334,014$5,215,962$19,136,445
82$23,593,569$7,610,290$5,307,606$20,898,202
83$25,914,405$7,897,486$5,399,703$22,834,317
84$28,469,266$8,196,055$5,492,185$24,962,423
85$31,281,939$8,506,469$5,584,981$27,301,949
86$34,378,631$8,829,220$5,678,013$29,874,302
87$37,788,223$9,164,824$5,771,198$32,703,066
88$41,542,538$9,513,816$5,864,448$35,814,228
89$45,676,639$9,876,755$5,957,670$39,236,418
90$50,229,167$10,254,227$6,050,762$43,001,185
91$55,242,698$10,646,840$6,143,619$47,143,288
92$60,764,149$11,055,231$6,236,126$51,701,026
93$66,845,220$11,480,065$6,328,164$56,716,602
94$73,542,878$11,922,034$6,419,603$62,236,515
95$80,919,899$12,381,861$6,510,308$68,312,002
96$89,045,460$12,860,304$6,600,134$74,999,522
97$97,995,788$13,358,149$6,688,929$82,361,283
98$107,854,881$13,876,221$6,776,531$90,465,835
99$118,715,302$14,415,380$6,862,768$99,388,713
100$130,679,053$14,976,523$6,947,461$109,213,149