Can I retire at age 62 with 2,160,000?

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 $2,160,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$178,371$176,782$175,232$173,719$172,241$166,928
2 years$88,302$86,658$85,064$83,519$82,020$76,713
3 years$58,283$56,632$55,042$53,511$52,037$46,903
4 years$43,277$41,630$40,057$38,552$37,113$32,192
5 years$34,275$32,639$31,085$29,611$28,213$23,518
6 years$28,276$26,652$25,122$23,681$22,324$17,859
7 years$23,993$22,382$20,876$19,469$18,155$13,920
8 years$20,782$19,186$17,705$16,332$15,061$11,053
9 years$18,286$16,705$15,249$13,911$12,684$8,898
10 years$16,290$14,724$13,294$11,992$10,807$7,238
11 years$14,658$13,108$11,704$10,436$9,295$5,936
12 years$13,299$11,765$10,387$9,154$8,055$4,899
13 years$12,150$10,632$9,280$8,082$7,024$4,065
14 years$11,166$9,664$8,338$7,174$6,157$3,386
15 years$10,314$8,829$7,528$6,398$5,421$2,831
16 years$9,570$8,100$6,826$5,729$4,791$2,373
17 years$8,913$7,460$6,211$5,147$4,248$1,994
18 years$8,330$6,893$5,670$4,639$3,777$1,678
19 years$7,809$6,389$5,191$4,191$3,367$1,415
20 years$7,341$5,937$4,764$3,796$3,007$1,195
21 years$6,918$5,530$4,382$3,445$2,691$1,010
22 years$6,534$5,162$4,038$3,133$2,412$854
23 years$6,184$4,828$3,729$2,853$2,165$723
24 years$5,863$4,523$3,448$2,602$1,946$613
25 years$5,569$4,245$3,194$2,376$1,751$519
26 years$5,297$3,990$2,962$2,173$1,578$440
27 years$5,047$3,755$2,751$1,989$1,422$374
28 years$4,814$3,538$2,557$1,822$1,283$317
29 years$4,598$3,338$2,380$1,671$1,159$269
30 years$4,397$3,152$2,216$1,533$1,047$229
31 years$4,209$2,980$2,066$1,408$947$194
32 years$4,033$2,819$1,928$1,294$856$165
33 years$3,868$2,670$1,800$1,190$775$140
34 years$3,713$2,531$1,682$1,095$702$119
35 years$3,568$2,400$1,573$1,008$636$101
36 years$3,431$2,278$1,471$928$576$86
37 years$3,301$2,164$1,377$855$522$73
38 years$3,179$2,056$1,289$788$473$62
39 years$3,063$1,955$1,208$727$429$53
40 years$2,953$1,860$1,132$671$389$45
41 years$2,849$1,771$1,062$619$353$38
42 years$2,750$1,687$996$571$320$32
43 years$2,656$1,607$935$527$291$28
44 years$2,566$1,532$877$487$264$23
45 years$2,481$1,461$824$449$240$20
46 years$2,400$1,393$774$415$218$17
47 years$2,322$1,330$727$384$198$14
48 years$2,248$1,269$683$354$179$12
49 years$2,177$1,212$642$328$163$10
50 years$2,109$1,158$604$303$148$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,160,000, adding $6,188 every year, while hoping to spend $52,592 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: 65/12/23 Blend
61$2,160,000$2,160,000$2,160,000$2,160,000
62$2,386,703$2,272,223$2,238,743$2,527,273
63$2,574,189$2,327,604$2,257,783$2,678,047
64$2,779,036$2,383,937$2,275,699$2,836,270
65$3,002,960$2,441,211$2,292,397$3,007,990
66$3,247,848$2,499,417$2,307,778$3,194,536
67$3,515,780$2,558,540$2,321,740$3,397,372
68$3,809,046$2,618,565$2,334,175$3,618,109
69$4,130,166$2,679,472$2,344,968$3,858,525
70$4,481,918$2,741,241$2,353,999$4,120,577
71$4,867,358$2,803,847$2,361,142$4,406,421
72$5,289,854$2,867,261$2,366,266$4,718,436
73$5,753,115$2,931,452$2,369,232$5,059,241
74$6,261,225$2,996,385$2,369,893$5,431,723
75$6,818,682$3,062,020$2,368,097$5,839,063
76$7,430,443$3,128,315$2,363,683$6,284,768
77$8,101,965$3,195,219$2,356,484$6,772,700
78$8,839,262$3,262,681$2,346,322$7,307,120
79$9,648,956$3,330,642$2,333,013$7,892,719
80$10,538,343$3,399,037$2,316,363$8,534,671
81$11,515,462$3,467,798$2,296,169$9,238,675
82$12,589,166$3,536,847$2,272,218$10,011,014
83$13,769,211$3,606,103$2,244,287$10,858,613
84$15,066,343$3,675,474$2,212,143$11,789,101
85$16,492,401$3,744,864$2,175,541$12,810,892
86$18,060,430$3,814,166$2,134,226$13,933,252
87$19,784,801$3,883,267$2,087,929$15,166,400
88$21,681,348$3,952,044$2,036,371$16,521,594
89$23,767,514$4,020,363$1,979,259$18,011,245
90$26,062,522$4,088,082$1,916,285$19,649,030
91$28,587,548$4,155,047$1,847,130$21,450,022
92$31,365,926$4,221,092$1,771,457$23,430,836
93$34,423,366$4,286,041$1,688,916$25,609,782
94$37,788,195$4,349,703$1,599,141$28,007,040
95$41,491,627$4,411,875$1,501,748$30,644,852
96$45,568,054$4,472,337$1,396,337$33,547,731
97$50,055,370$4,530,857$1,282,490$36,742,692
98$54,995,334$4,587,185$1,159,769$40,259,511
99$60,433,955$4,641,054$1,027,718$44,131,004
100$66,421,931$4,692,179$885,860$48,393,337