Can I retire at age 62 with 2,150,000?

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 $2,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$177,545$175,964$174,421$172,915$171,444$167,435
2 years$87,894$86,257$84,670$83,132$81,640$77,624
3 years$58,014$56,370$54,787$53,263$51,796$47,898
4 years$43,077$41,438$39,871$38,373$36,941$33,192
5 years$34,117$32,488$30,942$29,474$28,082$24,492
6 years$28,145$26,529$25,005$23,571$22,220$18,792
7 years$23,882$22,279$20,780$19,379$18,071$14,806
8 years$20,686$19,097$17,623$16,257$14,992$11,888
9 years$18,201$16,627$15,178$13,847$12,625$9,681
10 years$16,215$14,656$13,233$11,936$10,757$7,969
11 years$14,590$13,048$11,650$10,388$9,252$6,616
12 years$13,238$11,711$10,339$9,112$8,017$5,529
13 years$12,094$10,583$9,237$8,044$6,991$4,646
14 years$11,115$9,620$8,300$7,141$6,128$3,922
15 years$10,267$8,788$7,494$6,368$5,396$3,322
16 years$9,525$8,063$6,794$5,702$4,769$2,823
17 years$8,872$7,425$6,182$5,123$4,229$2,405
18 years$8,292$6,861$5,644$4,617$3,760$2,053
19 years$7,773$6,359$5,166$4,172$3,351$1,756
20 years$7,307$5,909$4,742$3,779$2,993$1,504
21 years$6,886$5,504$4,361$3,429$2,679$1,290
22 years$6,504$5,138$4,020$3,118$2,401$1,107
23 years$6,155$4,805$3,711$2,840$2,155$952
24 years$5,836$4,502$3,432$2,590$1,937$819
25 years$5,543$4,225$3,179$2,365$1,743$705
26 years$5,273$3,971$2,948$2,163$1,570$607
27 years$5,023$3,737$2,738$1,980$1,416$523
28 years$4,792$3,522$2,545$1,814$1,277$451
29 years$4,577$3,322$2,369$1,663$1,153$389
30 years$4,376$3,137$2,206$1,526$1,042$335
31 years$4,189$2,966$2,057$1,402$942$289
32 years$4,014$2,806$1,919$1,288$852$250
33 years$3,850$2,658$1,792$1,185$771$215
34 years$3,696$2,519$1,674$1,090$698$186
35 years$3,551$2,389$1,565$1,003$633$161
36 years$3,415$2,268$1,464$924$573$139
37 years$3,286$2,154$1,370$852$519$120
38 years$3,164$2,047$1,283$785$471$103
39 years$3,049$1,946$1,202$724$427$89
40 years$2,939$1,852$1,127$667$387$77
41 years$2,836$1,763$1,057$616$351$67
42 years$2,737$1,679$991$568$319$58
43 years$2,644$1,599$930$525$289$50
44 years$2,555$1,525$873$484$263$43
45 years$2,470$1,454$820$447$238$37
46 years$2,389$1,387$770$413$217$32
47 years$2,311$1,324$723$382$197$28
48 years$2,237$1,264$680$353$179$24
49 years$2,167$1,207$639$326$162$21
50 years$2,099$1,153$601$301$147$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,150,000, adding $5,924 every year, while hoping to spend $41,646 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: 47/47/6 Blend
61$2,150,000$2,150,000$2,150,000$2,150,000
62$2,375,411$2,261,461$2,228,136$2,483,009
63$2,573,391$2,327,961$2,258,467$2,623,898
64$2,790,171$2,396,324$2,288,419$2,771,841
65$3,027,621$2,466,598$2,317,934$2,931,409
66$3,287,807$2,538,829$2,346,954$3,103,690
67$3,573,000$2,613,068$2,375,413$3,289,881
68$3,885,702$2,689,365$2,403,245$3,491,300
69$4,228,670$2,767,770$2,430,380$3,709,394
70$4,604,939$2,848,336$2,456,743$3,945,758
71$5,017,854$2,931,115$2,482,255$4,202,144
72$5,471,097$3,016,162$2,506,832$4,480,482
73$5,968,726$3,103,531$2,530,388$4,782,894
74$6,515,209$3,193,277$2,552,830$5,111,718
75$7,115,471$3,285,458$2,574,059$5,469,525
76$7,774,934$3,380,130$2,593,975$5,859,147
77$8,499,573$3,477,353$2,612,470$6,283,699
78$9,295,971$3,577,184$2,629,429$6,746,614
79$10,171,378$3,679,685$2,644,733$7,251,670
80$11,133,785$3,784,916$2,658,258$7,803,027
81$12,191,993$3,892,938$2,669,871$8,405,266
82$13,355,698$4,003,814$2,679,434$9,063,432
83$14,635,585$4,117,606$2,686,801$9,783,080
84$16,043,425$4,234,380$2,691,819$10,570,330
85$17,592,188$4,354,197$2,694,328$11,431,921
86$19,296,162$4,477,125$2,694,160$12,375,276
87$21,171,094$4,603,227$2,691,137$13,408,570
88$23,234,331$4,732,570$2,685,076$14,540,812
89$25,504,987$4,865,221$2,675,780$15,781,921
90$28,004,124$5,001,245$2,663,047$17,142,826
91$30,754,948$5,140,709$2,646,662$18,635,567
92$33,783,029$5,283,681$2,626,402$20,273,408
93$37,116,544$5,430,227$2,602,033$22,070,959
94$40,786,538$5,580,415$2,573,307$24,044,320
95$44,827,222$5,734,311$2,539,969$26,211,226
96$49,276,289$5,891,983$2,501,749$28,591,218
97$54,175,276$6,053,497$2,458,364$31,205,824
98$59,569,954$6,218,918$2,409,519$34,078,764
99$65,510,756$6,388,311$2,354,904$37,236,175
100$72,053,257$6,561,743$2,294,198$40,706,851