Can I retire at age 62 with 2,090,000?

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 $2,090,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$172,590$171,053$169,553$168,089$166,660$163,899
2 years$85,441$83,849$82,307$80,812$79,362$76,588
3 years$56,395$54,797$53,258$51,777$50,350$47,650
4 years$41,874$40,281$38,758$37,302$35,910$33,305
5 years$33,165$31,581$30,078$28,652$27,298$24,795
6 years$27,360$25,788$24,308$22,913$21,600$19,202
7 years$23,215$21,657$20,200$18,838$17,567$15,274
8 years$20,108$18,564$17,131$15,803$14,573$12,386
9 years$17,693$16,163$14,755$13,461$12,273$10,189
10 years$15,762$14,247$12,864$11,603$10,457$8,476
11 years$14,183$12,683$11,325$10,098$8,993$7,112
12 years$12,868$11,384$10,051$8,857$7,794$6,010
13 years$11,757$10,288$8,980$7,820$6,796$5,108
14 years$10,804$9,351$8,068$6,942$5,957$4,361
15 years$9,980$8,543$7,284$6,191$5,245$3,738
16 years$9,259$7,838$6,604$5,543$4,636$3,215
17 years$8,624$7,218$6,010$4,980$4,111$2,772
18 years$8,060$6,670$5,486$4,488$3,655$2,396
19 years$7,556$6,182$5,022$4,056$3,258$2,075
20 years$7,103$5,744$4,609$3,673$2,910$1,801
21 years$6,694$5,351$4,240$3,334$2,604$1,564
22 years$6,322$4,995$3,907$3,031$2,334$1,361
23 years$5,983$4,671$3,608$2,760$2,095$1,185
24 years$5,673$4,377$3,337$2,518$1,883$1,033
25 years$5,388$4,107$3,090$2,299$1,695$901
26 years$5,126$3,860$2,866$2,102$1,526$787
27 years$4,883$3,633$2,662$1,924$1,376$687
28 years$4,658$3,423$2,474$1,763$1,242$601
29 years$4,449$3,229$2,302$1,617$1,121$525
30 years$4,254$3,050$2,145$1,484$1,013$459
31 years$4,072$2,883$1,999$1,363$916$402
32 years$3,902$2,728$1,865$1,252$829$352
33 years$3,743$2,584$1,742$1,152$750$308
34 years$3,593$2,449$1,627$1,060$679$270
35 years$3,452$2,322$1,522$975$615$236
36 years$3,319$2,204$1,423$898$557$207
37 years$3,194$2,094$1,332$828$505$181
38 years$3,076$1,990$1,248$763$458$159
39 years$2,964$1,892$1,169$703$415$139
40 years$2,857$1,800$1,096$649$377$122
41 years$2,757$1,714$1,027$599$342$107
42 years$2,661$1,632$964$552$310$94
43 years$2,570$1,555$904$510$281$82
44 years$2,483$1,482$849$471$255$72
45 years$2,401$1,413$797$435$232$63
46 years$2,322$1,348$749$402$210$55
47 years$2,247$1,287$703$371$191$49
48 years$2,175$1,228$661$343$174$43
49 years$2,106$1,173$621$317$158$37
50 years$2,041$1,120$584$293$143$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,090,000, adding $6,386 every year, while hoping to spend $23,737 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: 62/8/30 Blend
61$2,090,000$2,090,000$2,090,000$2,090,000
62$2,309,767$2,198,997$2,166,602$2,433,912
63$2,520,107$2,281,492$2,213,927$2,601,679
64$2,751,107$2,367,234$2,262,042$2,781,682
65$3,004,848$2,456,356$2,310,949$2,977,754
66$3,283,623$2,548,999$2,360,647$3,191,473
67$3,589,961$2,645,308$2,411,137$3,424,580
68$3,926,645$2,745,435$2,462,417$3,678,987
69$4,296,741$2,849,540$2,514,487$3,956,804
70$4,703,629$2,957,788$2,567,342$4,260,352
71$5,151,031$3,070,352$2,620,980$4,592,188
72$5,643,048$3,187,411$2,675,395$4,955,128
73$6,184,200$3,309,155$2,730,582$5,352,273
74$6,779,464$3,435,779$2,786,532$5,787,038
75$7,434,326$3,567,489$2,843,237$6,263,187
76$8,154,829$3,704,498$2,900,688$6,784,864
77$8,947,634$3,847,030$2,958,873$7,356,633
78$9,820,076$3,995,318$3,017,779$7,983,523
79$10,780,241$4,149,606$3,077,391$8,671,075
80$11,837,035$4,310,147$3,137,694$9,425,389
81$13,000,275$4,477,206$3,198,669$10,253,190
82$14,280,775$4,651,061$3,260,296$11,161,884
83$15,690,452$4,832,001$3,322,554$12,159,630
84$17,242,437$5,020,327$3,385,418$13,255,417
85$18,951,198$5,216,356$3,448,862$14,459,150
86$20,832,678$5,420,416$3,512,857$15,781,741
87$22,904,447$5,632,851$3,577,373$17,235,212
88$25,185,860$5,854,021$3,642,375$18,832,809
89$27,698,251$6,084,301$3,707,828$20,589,127
90$30,465,124$6,324,083$3,773,691$22,520,246
91$33,512,379$6,573,776$3,839,922$24,643,884
92$36,868,559$6,833,808$3,906,477$26,979,564
93$40,565,113$7,104,626$3,973,305$29,548,796
94$44,636,699$7,386,697$4,040,355$32,375,282
95$49,121,506$7,680,509$4,107,571$35,485,139
96$54,061,617$7,986,571$4,174,892$38,907,144
97$59,503,405$8,305,416$4,242,254$42,673,005
98$65,497,972$8,637,601$4,309,589$46,817,664
99$72,101,629$8,983,708$4,376,824$51,379,620
100$79,376,430$9,344,344$4,443,882$56,401,298