Can I retire at age 62 with 1,990,000?

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 $1,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$164,332$162,869$161,440$160,046$158,685$157,751
2 years$81,353$79,838$78,369$76,945$75,564$74,622
3 years$53,696$52,175$50,710$49,300$47,941$47,020
4 years$39,871$38,354$36,904$35,518$34,192$33,299
5 years$31,578$30,070$28,639$27,281$25,992$25,130
6 years$26,051$24,554$23,145$21,817$20,567$19,736
7 years$22,105$20,621$19,233$17,937$16,726$15,927
8 years$19,146$17,676$16,311$15,047$13,876$13,109
9 years$16,847$15,390$14,049$12,816$11,686$10,951
10 years$15,008$13,565$12,248$11,048$9,957$9,254
11 years$13,504$12,077$10,783$9,615$8,563$7,891
12 years$12,253$10,839$9,570$8,434$7,421$6,779
13 years$11,194$9,796$8,550$7,446$6,471$5,859
14 years$10,288$8,904$7,682$6,609$5,672$5,090
15 years$9,503$8,134$6,936$5,894$4,994$4,441
16 years$8,816$7,463$6,288$5,278$4,414$3,888
17 years$8,212$6,873$5,722$4,742$3,914$3,415
18 years$7,675$6,351$5,224$4,274$3,480$3,007
19 years$7,195$5,886$4,782$3,862$3,102$2,654
20 years$6,763$5,469$4,389$3,497$2,771$2,347
21 years$6,374$5,095$4,037$3,174$2,479$2,079
22 years$6,020$4,756$3,720$2,886$2,222$1,844
23 years$5,697$4,448$3,435$2,628$1,995$1,638
24 years$5,402$4,167$3,177$2,397$1,793$1,457
25 years$5,131$3,911$2,943$2,189$1,614$1,297
26 years$4,881$3,676$2,729$2,002$1,453$1,156
27 years$4,649$3,459$2,534$1,832$1,310$1,031
28 years$4,435$3,259$2,356$1,679$1,182$920
29 years$4,236$3,075$2,192$1,539$1,068$821
30 years$4,051$2,904$2,042$1,413$965$734
31 years$3,878$2,745$1,904$1,298$872$656
32 years$3,716$2,598$1,776$1,192$789$587
33 years$3,564$2,460$1,658$1,097$714$525
34 years$3,421$2,331$1,550$1,009$646$470
35 years$3,287$2,211$1,449$929$586$421
36 years$3,161$2,099$1,355$855$530$377
37 years$3,041$1,993$1,269$788$481$337
38 years$2,928$1,894$1,188$726$436$302
39 years$2,822$1,801$1,113$670$395$271
40 years$2,721$1,714$1,043$618$359$243
41 years$2,625$1,632$978$570$325$218
42 years$2,534$1,554$918$526$295$195
43 years$2,447$1,480$861$486$268$175
44 years$2,364$1,411$808$448$243$157
45 years$2,286$1,346$759$414$221$141
46 years$2,211$1,284$713$382$200$126
47 years$2,139$1,225$670$353$182$113
48 years$2,071$1,170$629$327$165$102
49 years$2,006$1,117$591$302$150$91
50 years$1,943$1,067$556$279$136$82

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,990,000, adding $2,792 every year, while hoping to spend $39,979 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: 76/9/15 Blend
61$1,990,000$1,990,000$1,990,000$1,990,000
62$2,195,860$2,090,390$2,059,545$2,355,461
63$2,377,300$2,150,282$2,086,002$2,521,126
64$2,575,908$2,211,768$2,112,006$2,697,416
65$2,793,391$2,274,885$2,137,499$2,889,594
66$3,031,632$2,339,670$2,162,420$3,099,229
67$3,292,702$2,406,158$2,186,706$3,328,051
68$3,578,885$2,474,387$2,210,288$3,577,964
69$3,892,695$2,544,395$2,233,095$3,851,067
70$4,236,898$2,616,219$2,255,052$4,149,669
71$4,614,546$2,689,898$2,276,081$4,476,317
72$5,028,996$2,765,469$2,296,096$4,833,815
73$5,483,949$2,842,973$2,315,011$5,225,250
74$5,983,480$2,922,447$2,332,732$5,654,027
75$6,532,079$3,003,930$2,349,162$6,123,893
76$7,134,690$3,087,462$2,364,198$6,638,978
77$7,796,763$3,173,082$2,377,733$7,203,833
78$8,524,298$3,260,828$2,389,653$7,823,471
79$9,323,909$3,350,741$2,399,838$8,503,414
80$10,202,878$3,442,859$2,408,164$9,249,747
81$11,169,233$3,537,220$2,414,498$10,069,177
82$12,231,814$3,633,863$2,418,703$10,969,089
83$13,400,363$3,732,826$2,420,634$11,957,625
84$14,685,613$3,834,147$2,420,137$13,043,752
85$16,099,387$3,937,862$2,417,054$14,237,354
86$17,654,716$4,044,009$2,411,217$15,549,320
87$19,365,954$4,152,622$2,402,450$16,991,649
88$21,248,918$4,263,737$2,390,568$18,577,562
89$23,321,034$4,377,387$2,375,379$20,321,629
90$25,601,506$4,493,605$2,356,680$22,239,904
91$28,111,489$4,612,422$2,334,259$24,350,076
92$30,874,298$4,733,867$2,307,894$26,671,640
93$33,915,620$4,857,970$2,277,351$29,226,076
94$37,263,759$4,984,757$2,242,388$32,037,055
95$40,949,904$5,114,251$2,202,750$35,130,660
96$45,008,420$5,246,475$2,158,168$38,535,635
97$49,477,177$5,381,450$2,108,364$42,283,654
98$54,397,900$5,519,193$2,053,046$46,409,621
99$59,816,570$5,659,717$1,991,907$50,952,000
100$65,783,851$5,803,035$1,924,627$55,953,174