Can I retire at age 62 with 2,070,000?

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 $2,070,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.5%
1 years$170,939$169,416$167,930$166,481$165,065$161,997
2 years$84,623$83,047$81,520$80,039$78,602$75,523
3 years$55,855$54,272$52,749$51,282$49,868$46,874
4 years$41,474$39,896$38,387$36,945$35,567$32,679
5 years$32,847$31,279$29,790$28,378$27,037$24,266
6 years$27,098$25,541$24,075$22,694$21,394$18,741
7 years$22,993$21,450$20,006$18,658$17,399$14,866
8 years$19,916$18,386$16,967$15,652$14,434$12,020
9 years$17,524$16,009$14,614$13,332$12,155$9,859
10 years$15,611$14,111$12,741$11,492$10,357$8,176
11 years$14,047$12,562$11,217$10,002$8,907$6,839
12 years$12,745$11,275$9,954$8,773$7,719$5,761
13 years$11,644$10,189$8,894$7,745$6,731$4,879
14 years$10,701$9,262$7,991$6,875$5,900$4,152
15 years$9,885$8,461$7,215$6,131$5,195$3,547
16 years$9,171$7,763$6,541$5,490$4,592$3,040
17 years$8,542$7,149$5,952$4,933$4,071$2,612
18 years$7,983$6,606$5,434$4,445$3,620$2,250
19 years$7,484$6,122$4,974$4,017$3,226$1,941
20 years$7,035$5,689$4,565$3,638$2,882$1,678
21 years$6,630$5,299$4,199$3,302$2,579$1,452
22 years$6,262$4,947$3,870$3,002$2,312$1,258
23 years$5,926$4,627$3,573$2,734$2,075$1,092
24 years$5,619$4,335$3,305$2,494$1,865$948
25 years$5,337$4,068$3,061$2,277$1,678$824
26 years$5,077$3,823$2,839$2,082$1,512$716
27 years$4,836$3,598$2,636$1,906$1,363$623
28 years$4,614$3,391$2,451$1,746$1,230$542
29 years$4,407$3,199$2,280$1,601$1,111$472
30 years$4,214$3,021$2,124$1,470$1,003$411
31 years$4,034$2,856$1,980$1,350$907$358
32 years$3,865$2,702$1,848$1,240$821$312
33 years$3,707$2,559$1,725$1,141$743$272
34 years$3,559$2,425$1,612$1,050$672$238
35 years$3,419$2,300$1,507$966$609$207
36 years$3,288$2,183$1,410$890$552$181
37 years$3,164$2,074$1,320$820$500$158
38 years$3,046$1,971$1,236$756$453$138
39 years$2,935$1,874$1,158$697$411$120
40 years$2,830$1,783$1,085$643$373$105
41 years$2,730$1,697$1,017$593$338$92
42 years$2,635$1,616$954$547$307$80
43 years$2,545$1,540$896$505$279$70
44 years$2,459$1,468$841$466$253$61
45 years$2,378$1,400$789$431$230$53
46 years$2,300$1,335$741$398$208$46
47 years$2,225$1,274$697$368$189$41
48 years$2,154$1,217$655$340$172$35
49 years$2,086$1,162$615$314$156$31
50 years$2,021$1,110$578$290$142$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,070,000, adding $5,431 every year, while hoping to spend $37,439 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: 57/17/26 Blend
61$2,070,000$2,070,000$2,070,000$2,070,000
62$2,286,742$2,177,032$2,144,947$2,400,572
63$2,480,155$2,243,872$2,176,968$2,546,002
64$2,692,041$2,312,732$2,208,807$2,700,026
65$2,924,245$2,383,672$2,240,418$2,867,125
66$3,178,799$2,456,753$2,271,753$3,048,573
67$3,457,941$2,532,038$2,302,760$3,245,774
68$3,764,134$2,609,591$2,333,386$3,460,273
69$4,100,094$2,689,479$2,363,573$3,693,771
70$4,468,810$2,771,770$2,393,259$3,948,142
71$4,873,576$2,856,534$2,422,381$4,225,450
72$5,318,020$2,943,844$2,450,870$4,527,969
73$5,806,139$3,033,772$2,478,655$4,858,204
74$6,342,335$3,126,397$2,505,659$5,218,912
75$6,931,457$3,221,795$2,531,803$5,613,134
76$7,578,850$3,320,047$2,557,003$6,044,217
77$8,290,399$3,421,235$2,581,168$6,515,849
78$9,072,589$3,525,445$2,604,207$7,032,093
79$9,932,564$3,632,763$2,626,018$7,597,427
80$10,878,195$3,743,278$2,646,500$8,216,783
81$11,918,155$3,857,083$2,665,542$8,895,595
82$13,061,998$3,974,271$2,683,029$9,639,850
83$14,320,251$4,094,939$2,698,839$10,456,147
84$15,704,512$4,219,187$2,712,846$11,351,753
85$17,227,562$4,347,116$2,724,916$12,334,679
86$18,903,480$4,478,832$2,734,907$13,413,750
87$20,747,781$4,614,440$2,742,672$14,598,692
88$22,777,559$4,754,052$2,748,056$15,900,219
89$25,011,650$4,897,781$2,750,896$17,330,140
90$27,470,807$5,045,742$2,751,021$18,901,466
91$30,177,900$5,198,054$2,748,250$20,628,534
92$33,158,126$5,354,838$2,742,397$22,527,145
93$36,439,251$5,516,221$2,733,263$24,614,707
94$40,051,869$5,682,330$2,720,641$26,910,407
95$44,029,691$5,853,297$2,704,315$29,435,385
96$48,409,867$6,029,255$2,684,057$32,212,938
97$53,233,329$6,210,344$2,659,628$35,268,739
98$58,545,181$6,396,704$2,630,779$38,631,078
99$64,395,128$6,588,480$2,597,248$42,331,132
100$70,837,936$6,785,821$2,558,761$46,403,256