Can I retire at age 62 with 2,210,000?

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 $2,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$182,500$180,874$179,288$177,740$176,229$172,459
2 years$90,346$88,664$87,033$85,452$83,918$80,139
3 years$59,633$57,943$56,316$54,750$53,241$49,570
4 years$44,279$42,594$40,984$39,444$37,972$34,437
5 years$35,069$33,394$31,805$30,297$28,866$25,477
6 years$28,931$27,269$25,703$24,229$22,841$19,602
7 years$24,548$22,900$21,359$19,920$18,575$15,488
8 years$21,263$19,630$18,115$16,710$15,410$12,472
9 years$18,709$17,091$15,602$14,233$12,978$10,187
10 years$16,667$15,065$13,602$12,269$11,058$8,411
11 years$14,997$13,412$11,975$10,678$9,510$7,005
12 years$13,607$12,038$10,628$9,366$8,241$5,874
13 years$12,432$10,878$9,495$8,269$7,186$4,952
14 years$11,425$9,888$8,531$7,340$6,300$4,194
15 years$10,553$9,033$7,703$6,546$5,547$3,566
16 years$9,791$8,288$6,984$5,861$4,902$3,041
17 years$9,119$7,633$6,355$5,266$4,347$2,600
18 years$8,523$7,053$5,801$4,746$3,865$2,227
19 years$7,990$6,537$5,311$4,288$3,445$1,912
20 years$7,511$6,074$4,874$3,884$3,077$1,644
21 years$7,078$5,658$4,483$3,525$2,753$1,415
22 years$6,685$5,281$4,132$3,205$2,468$1,220
23 years$6,327$4,940$3,815$2,919$2,216$1,052
24 years$5,999$4,628$3,528$2,662$1,991$909
25 years$5,698$4,343$3,268$2,431$1,792$785
26 years$5,420$4,082$3,031$2,223$1,614$679
27 years$5,163$3,842$2,814$2,035$1,455$587
28 years$4,926$3,620$2,616$1,864$1,313$508
29 years$4,705$3,415$2,435$1,710$1,186$440
30 years$4,499$3,225$2,268$1,569$1,071$381
31 years$4,306$3,049$2,114$1,441$969$330
32 years$4,126$2,885$1,973$1,324$876$286
33 years$3,958$2,732$1,842$1,218$793$248
34 years$3,799$2,589$1,721$1,120$718$215
35 years$3,650$2,456$1,609$1,031$650$187
36 years$3,510$2,331$1,505$950$589$162
37 years$3,377$2,214$1,409$875$534$140
38 years$3,252$2,104$1,319$807$484$122
39 years$3,134$2,001$1,236$744$439$106
40 years$3,021$1,903$1,158$686$398$92
41 years$2,915$1,812$1,086$633$361$79
42 years$2,814$1,726$1,019$584$328$69
43 years$2,717$1,644$956$539$297$60
44 years$2,626$1,567$898$498$270$52
45 years$2,539$1,494$843$460$245$45
46 years$2,455$1,426$792$425$223$39
47 years$2,376$1,361$744$392$202$34
48 years$2,300$1,299$699$363$184$29
49 years$2,227$1,240$657$335$167$26
50 years$2,158$1,185$618$310$151$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,210,000, adding $6,609 every year, while hoping to spend $26,998 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: 34/47/19 Blend
61$2,210,000$2,210,000$2,210,000$2,210,000
62$2,442,237$2,325,107$2,290,852$2,510,811
63$2,662,620$2,410,312$2,338,870$2,647,099
64$2,904,576$2,498,787$2,387,592$2,791,001
65$3,170,279$2,590,663$2,437,012$2,945,617
66$3,462,121$2,686,079$2,487,125$3,111,910
67$3,782,738$2,785,177$2,537,924$3,290,935
68$4,135,033$2,888,107$2,589,401$3,483,854
69$4,522,206$2,995,023$2,641,545$3,691,940
70$4,947,780$3,106,089$2,694,346$3,916,591
71$5,415,638$3,221,472$2,747,792$4,159,343
72$5,930,059$3,341,350$2,801,868$4,421,882
73$6,495,754$3,465,905$2,856,560$4,706,063
74$7,117,916$3,595,330$2,911,850$5,013,921
75$7,802,267$3,729,823$2,967,719$5,347,695
76$8,555,107$3,869,594$3,024,148$5,709,845
77$9,383,384$4,014,860$3,081,112$6,103,077
78$10,294,748$4,165,847$3,138,588$6,530,363
79$11,297,630$4,322,791$3,196,549$6,994,975
80$12,401,320$4,485,940$3,254,965$7,500,509
81$13,616,053$4,655,549$3,313,805$8,050,920
82$14,953,108$4,831,888$3,373,034$8,650,560
83$16,424,911$5,015,237$3,432,617$9,304,216
84$18,045,155$5,205,887$3,492,513$10,017,155
85$19,828,929$5,404,144$3,552,680$10,795,172
86$21,792,857$5,610,324$3,613,073$11,644,643
87$23,955,260$5,824,761$3,673,642$12,572,588
88$26,336,323$6,047,801$3,734,335$13,586,730
89$28,958,289$6,279,805$3,795,097$14,695,571
90$31,845,670$6,521,150$3,855,868$15,908,468
91$35,025,473$6,772,231$3,916,584$17,235,724
92$38,527,459$7,033,459$3,977,178$18,688,677
93$42,384,424$7,305,262$4,037,577$20,279,815
94$46,632,504$7,588,089$4,097,705$22,022,882
95$51,311,523$7,882,409$4,157,481$23,933,015
96$56,465,360$8,188,708$4,216,819$26,026,878
97$62,142,370$8,507,499$4,275,626$28,322,822
98$68,395,838$8,839,313$4,333,806$30,841,056
99$75,284,481$9,184,706$4,391,255$33,603,835
100$82,873,001$9,544,260$4,447,866$36,635,666