Can I retire at age 62 with 2,110,000?

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 $2,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$174,242$172,690$171,176$169,698$168,254$164,857
2 years$86,258$84,652$83,095$81,585$80,121$76,713
3 years$56,934$55,321$53,768$52,273$50,832$47,520
4 years$42,275$40,667$39,129$37,659$36,254$33,063
5 years$33,482$31,883$30,366$28,926$27,560$24,499
6 years$27,622$26,035$24,540$23,132$21,807$18,880
7 years$23,438$21,864$20,393$19,018$17,735$14,943
8 years$20,301$18,742$17,295$15,954$14,713$12,054
9 years$17,862$16,318$14,896$13,589$12,390$9,863
10 years$15,913$14,383$12,987$11,714$10,557$8,159
11 years$14,319$12,805$11,433$10,195$9,080$6,808
12 years$12,991$11,493$10,147$8,942$7,868$5,720
13 years$11,869$10,386$9,065$7,895$6,861$4,832
14 years$10,908$9,441$8,145$7,008$6,014$4,101
15 years$10,076$8,624$7,354$6,250$5,296$3,493
16 years$9,348$7,913$6,668$5,596$4,680$2,985
17 years$8,707$7,287$6,067$5,028$4,150$2,558
18 years$8,137$6,734$5,539$4,531$3,690$2,196
19 years$7,629$6,241$5,070$4,094$3,289$1,890
20 years$7,171$5,799$4,653$3,708$2,938$1,628
21 years$6,758$5,402$4,280$3,365$2,629$1,405
22 years$6,383$5,042$3,945$3,060$2,356$1,214
23 years$6,041$4,716$3,642$2,787$2,115$1,050
24 years$5,728$4,419$3,369$2,542$1,901$909
25 years$5,440$4,147$3,120$2,321$1,711$787
26 years$5,175$3,897$2,894$2,122$1,541$682
27 years$4,930$3,668$2,687$1,943$1,389$592
28 years$4,703$3,456$2,498$1,780$1,254$513
29 years$4,492$3,260$2,324$1,632$1,132$445
30 years$4,295$3,079$2,165$1,498$1,023$387
31 years$4,111$2,911$2,019$1,376$925$336
32 years$3,940$2,754$1,883$1,264$837$292
33 years$3,779$2,608$1,758$1,163$757$254
34 years$3,627$2,472$1,643$1,070$685$220
35 years$3,485$2,345$1,536$985$621$192
36 years$3,351$2,225$1,437$907$562$167
37 years$3,225$2,114$1,345$836$510$145
38 years$3,105$2,009$1,260$770$462$126
39 years$2,992$1,910$1,180$710$419$110
40 years$2,885$1,817$1,106$655$380$95
41 years$2,783$1,730$1,037$604$345$83
42 years$2,686$1,647$973$558$313$72
43 years$2,594$1,570$913$515$284$63
44 years$2,507$1,496$857$475$258$55
45 years$2,424$1,427$805$439$234$48
46 years$2,344$1,361$756$406$212$41
47 years$2,268$1,299$710$375$193$36
48 years$2,196$1,240$667$346$175$31
49 years$2,126$1,184$627$320$159$27
50 years$2,060$1,131$590$296$145$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,110,000, adding $5,264 every year, while hoping to spend $39,830 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: 73/17/10 Blend
61$2,110,000$2,110,000$2,110,000$2,110,000
62$2,330,650$2,218,820$2,186,115$2,496,064
63$2,525,997$2,285,163$2,216,971$2,672,351
64$2,739,935$2,353,422$2,247,526$2,859,901
65$2,974,318$2,423,649$2,277,727$3,064,216
66$3,231,187$2,495,897$2,307,520$3,286,943
67$3,512,792$2,570,220$2,336,846$3,529,894
68$3,821,610$2,646,673$2,365,642$3,795,065
69$4,160,367$2,725,314$2,393,845$4,084,655
70$4,532,071$2,806,200$2,421,385$4,401,085
71$4,940,029$2,889,391$2,448,188$4,747,020
72$5,387,888$2,974,947$2,474,179$5,125,395
73$5,879,664$3,062,931$2,499,275$5,539,445
74$6,419,781$3,153,406$2,523,392$5,992,732
75$7,013,113$3,246,437$2,546,439$6,489,177
76$7,665,027$3,342,089$2,568,322$7,033,102
77$8,381,438$3,440,430$2,588,940$7,629,266
78$9,168,863$3,541,529$2,608,187$8,282,914
79$10,034,480$3,645,457$2,625,954$8,999,820
80$10,986,197$3,752,284$2,642,123$9,786,349
81$12,032,727$3,862,084$2,656,572$10,649,509
82$13,183,670$3,974,931$2,669,173$11,597,024
83$14,449,603$4,090,901$2,679,789$12,637,402
84$15,842,179$4,210,072$2,688,278$13,780,017
85$17,374,237$4,332,521$2,694,491$15,035,195
86$19,059,924$4,458,330$2,698,272$16,414,317
87$20,914,827$4,587,579$2,699,454$17,929,918
88$22,956,120$4,720,351$2,697,867$19,595,812
89$25,202,726$4,856,730$2,693,327$21,427,217
90$27,675,496$4,996,802$2,685,646$23,440,905
91$30,397,405$5,140,653$2,674,623$25,655,351
92$33,393,767$5,288,372$2,660,049$28,090,915
93$36,692,476$5,440,047$2,641,706$30,770,030
94$40,324,269$5,595,770$2,619,364$33,717,414
95$44,323,014$5,755,631$2,592,781$36,960,306
96$48,726,029$5,919,725$2,561,707$40,528,717
97$53,574,436$6,088,144$2,525,877$44,455,718
98$58,913,550$6,260,984$2,485,014$48,777,750
99$64,793,300$6,438,340$2,438,831$53,534,970
100$71,268,708$6,620,310$2,387,022$58,771,624