Can I retire at age 62 with 2,200,000?

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 $2,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$181,674$180,056$178,477$176,936$175,431$173,961
2 years$89,938$88,263$86,639$85,065$83,539$82,057
3 years$59,363$57,681$56,061$54,502$53,000$51,553
4 years$44,078$42,401$40,798$39,266$37,800$36,399
5 years$34,910$33,243$31,661$30,160$28,735$27,383
6 years$28,800$27,146$25,587$24,119$22,737$21,436
7 years$24,437$22,797$21,263$19,830$18,491$17,243
8 years$21,167$19,541$18,033$16,635$15,340$14,144
9 years$18,624$17,014$15,531$14,169$12,919$11,774
10 years$16,592$14,997$13,541$12,214$11,007$9,913
11 years$14,930$13,351$11,921$10,630$9,467$8,422
12 years$13,546$11,983$10,580$9,324$8,204$7,208
13 years$12,375$10,829$9,452$8,231$7,154$6,206
14 years$11,373$9,843$8,493$7,307$6,271$5,370
15 years$10,505$8,992$7,668$6,516$5,521$4,666
16 years$9,747$8,250$6,952$5,835$4,880$4,069
17 years$9,078$7,598$6,326$5,243$4,327$3,559
18 years$8,485$7,021$5,775$4,725$3,847$3,120
19 years$7,954$6,507$5,287$4,269$3,429$2,742
20 years$7,477$6,047$4,852$3,866$3,063$2,414
21 years$7,046$5,632$4,463$3,509$2,741$2,129
22 years$6,655$5,257$4,113$3,191$2,457$1,881
23 years$6,298$4,917$3,798$2,906$2,205$1,663
24 years$5,972$4,607$3,512$2,650$1,982$1,472
25 years$5,672$4,323$3,253$2,420$1,784$1,305
26 years$5,396$4,063$3,017$2,213$1,607$1,157
27 years$5,140$3,824$2,802$2,026$1,449$1,027
28 years$4,903$3,603$2,604$1,856$1,307$912
29 years$4,683$3,399$2,424$1,702$1,180$811
30 years$4,478$3,210$2,258$1,562$1,066$721
31 years$4,287$3,035$2,105$1,434$964$641
32 years$4,108$2,872$1,964$1,318$872$571
33 years$3,940$2,719$1,833$1,212$789$508
34 years$3,782$2,577$1,713$1,115$715$452
35 years$3,634$2,445$1,602$1,027$647$403
36 years$3,494$2,320$1,498$946$586$359
37 years$3,362$2,204$1,402$871$532$320
38 years$3,238$2,094$1,313$803$482$285
39 years$3,120$1,992$1,230$740$437$254
40 years$3,008$1,895$1,153$683$396$227
41 years$2,902$1,804$1,081$630$360$202
42 years$2,801$1,718$1,014$582$326$180
43 years$2,705$1,637$952$537$296$161
44 years$2,614$1,560$893$496$269$144
45 years$2,527$1,488$839$458$244$128
46 years$2,444$1,419$788$423$222$114
47 years$2,365$1,354$740$391$201$102
48 years$2,289$1,293$696$361$183$91
49 years$2,217$1,235$654$334$166$81
50 years$2,148$1,179$615$308$151$72

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,200,000, adding $3,847 every year, while hoping to spend $52,140 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: 59/25/16 Blend
61$2,200,000$2,200,000$2,200,000$2,200,000
62$2,428,368$2,311,768$2,277,668$2,561,464
63$2,620,585$2,369,568$2,298,494$2,709,666
64$2,830,661$2,428,453$2,318,269$2,865,101
65$3,060,362$2,488,421$2,336,904$3,033,396
66$3,311,632$2,549,467$2,354,305$3,215,799
67$3,586,615$2,611,587$2,370,370$3,413,684
68$3,887,668$2,674,773$2,384,995$3,628,565
69$4,217,387$2,739,014$2,398,070$3,862,110
70$4,578,633$2,804,298$2,409,477$4,116,156
71$4,974,554$2,870,609$2,419,096$4,392,725
72$5,408,620$2,937,931$2,426,797$4,694,049
73$5,884,651$3,006,241$2,432,446$5,022,583
74$6,406,853$3,075,515$2,435,901$5,381,032
75$6,979,863$3,145,725$2,437,014$5,772,379
76$7,608,784$3,216,841$2,435,629$6,199,909
77$8,299,239$3,288,825$2,431,582$6,667,242
78$9,057,423$3,361,640$2,424,702$7,178,366
79$9,890,160$3,435,239$2,414,809$7,737,677
80$10,804,965$3,509,575$2,401,714$8,350,017
81$11,810,120$3,584,592$2,385,220$9,020,725
82$12,914,746$3,660,232$2,365,119$9,755,681
83$14,128,894$3,736,427$2,341,194$10,561,367
84$15,463,636$3,813,107$2,313,219$11,444,925
85$16,931,170$3,890,192$2,280,955$12,414,228
86$18,544,935$3,967,597$2,244,152$13,477,948
87$20,319,738$4,045,228$2,202,551$14,645,646
88$22,271,892$4,122,985$2,155,877$15,927,858
89$24,419,371$4,200,758$2,103,845$17,336,193
90$26,781,979$4,278,427$2,046,156$18,883,447
91$29,381,536$4,355,865$1,982,497$20,583,723
92$32,242,083$4,432,933$1,912,541$22,452,560
93$35,390,110$4,509,482$1,835,946$24,507,088
94$38,854,805$4,585,350$1,752,354$26,766,182
95$42,668,329$4,660,366$1,661,392$29,250,645
96$46,866,117$4,734,343$1,562,667$31,983,406
97$51,487,217$4,807,081$1,455,772$34,989,730
98$56,574,653$4,878,368$1,340,280$38,297,467
99$62,175,833$4,947,973$1,215,745$41,937,305
100$68,342,997$5,015,652$1,081,701$45,943,070