Can I retire at age 62 with 2,120,000?

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 $2,120,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$175,068$173,508$171,987$170,502$169,052$163,509
2 years$86,667$85,053$83,489$81,972$80,501$74,970
3 years$57,204$55,583$54,023$52,520$51,073$45,727
4 years$42,476$40,859$39,315$37,838$36,426$31,306
5 years$33,641$32,034$30,510$29,063$27,690$22,810
6 years$27,753$26,158$24,656$23,242$21,910$17,274
7 years$23,549$21,968$20,490$19,109$17,819$13,425
8 years$20,397$18,830$17,377$16,030$14,783$10,629
9 years$17,947$16,395$14,967$13,654$12,449$8,530
10 years$15,988$14,452$13,048$11,770$10,607$6,917
11 years$14,387$12,865$11,488$10,243$9,123$5,655
12 years$13,053$11,547$10,195$8,985$7,905$4,652
13 years$11,925$10,435$9,108$7,932$6,894$3,846
14 years$10,960$9,486$8,184$7,041$6,043$3,193
15 years$10,123$8,665$7,389$6,280$5,321$2,660
16 years$9,392$7,950$6,699$5,623$4,702$2,222
17 years$8,748$7,322$6,096$5,052$4,170$1,860
18 years$8,176$6,766$5,565$4,553$3,707$1,560
19 years$7,665$6,270$5,094$4,114$3,304$1,310
20 years$7,205$5,827$4,675$3,726$2,952$1,102
21 years$6,790$5,427$4,300$3,381$2,641$928
22 years$6,413$5,066$3,964$3,075$2,368$782
23 years$6,069$4,738$3,660$2,800$2,125$659
24 years$5,755$4,440$3,385$2,554$1,910$556
25 years$5,466$4,166$3,135$2,332$1,719$470
26 years$5,199$3,916$2,907$2,132$1,548$397
27 years$4,953$3,685$2,700$1,952$1,396$335
28 years$4,725$3,472$2,510$1,788$1,260$283
29 years$4,513$3,276$2,336$1,640$1,137$240
30 years$4,315$3,094$2,175$1,505$1,028$203
31 years$4,131$2,925$2,028$1,382$929$171
32 years$3,958$2,767$1,892$1,270$840$145
33 years$3,797$2,621$1,767$1,168$761$123
34 years$3,645$2,484$1,651$1,075$689$104
35 years$3,502$2,356$1,543$989$624$88
36 years$3,367$2,236$1,444$911$565$74
37 years$3,240$2,124$1,351$840$512$63
38 years$3,120$2,018$1,266$774$464$53
39 years$3,006$1,919$1,186$714$421$45
40 years$2,898$1,826$1,111$658$382$38
41 years$2,796$1,738$1,042$607$347$32
42 years$2,699$1,655$977$560$314$27
43 years$2,607$1,577$917$517$285$23
44 years$2,519$1,503$861$478$259$20
45 years$2,435$1,434$808$441$235$17
46 years$2,355$1,368$759$407$214$14
47 years$2,279$1,305$713$376$194$12
48 years$2,206$1,246$670$348$176$10
49 years$2,137$1,190$630$321$160$9
50 years$2,070$1,137$592$297$145$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,120,000, adding $3,779 every year, while hoping to spend $33,162 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: 53/21/26 Blend
61$2,120,000$2,120,000$2,120,000$2,120,000
62$2,340,138$2,227,778$2,194,918$2,447,050
63$2,543,548$2,301,655$2,233,164$2,595,268
64$2,766,594$2,378,041$2,271,579$2,752,771
65$3,011,245$2,457,023$2,310,135$2,923,504
66$3,279,667$2,538,692$2,348,800$3,108,746
67$3,574,249$2,623,144$2,387,540$3,309,902
68$3,897,620$2,710,475$2,426,320$3,528,521
69$4,252,676$2,800,788$2,465,101$3,766,306
70$4,642,610$2,894,187$2,503,843$4,025,134
71$5,070,936$2,990,782$2,542,501$4,307,070
72$5,541,527$3,090,685$2,581,031$4,614,388
73$6,058,649$3,194,015$2,619,381$4,949,593
74$6,627,001$3,300,892$2,657,501$5,315,443
75$7,251,762$3,411,443$2,695,334$5,714,974
76$7,938,636$3,525,798$2,732,822$6,151,533
77$8,693,909$3,644,093$2,769,903$6,628,802
78$9,524,503$3,766,469$2,806,510$7,150,839
79$10,438,047$3,893,072$2,842,574$7,722,113
80$11,442,948$4,024,052$2,878,020$8,347,547
81$12,548,466$4,159,568$2,912,770$9,032,564
82$13,764,804$4,299,781$2,946,743$9,783,136
83$15,103,205$4,444,861$2,979,850$10,605,845
84$16,576,056$4,594,984$3,011,999$11,507,939
85$18,197,006$4,750,330$3,043,093$12,497,403
86$19,981,094$4,911,090$3,073,030$13,583,037
87$21,944,891$5,077,459$3,101,702$14,774,531
88$24,106,656$5,249,640$3,128,995$16,082,566
89$26,486,507$5,427,845$3,154,789$17,518,906
90$29,106,613$5,612,292$3,178,957$19,096,514
91$31,991,403$5,803,210$3,201,367$20,829,671
92$35,167,793$6,000,833$3,221,879$22,734,113
93$38,665,442$6,205,409$3,240,347$24,827,178
94$42,517,033$6,417,190$3,256,615$27,127,968
95$46,758,580$6,636,441$3,270,520$29,657,534
96$51,429,766$6,863,438$3,281,894$32,439,067
97$56,574,320$7,098,464$3,290,555$35,498,123
98$62,240,428$7,341,816$3,296,316$38,862,859
99$68,481,188$7,593,802$3,298,979$42,564,303
100$75,355,111$7,854,740$3,298,337$46,636,644