Can I retire at age 62 with 2,280,000?

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 $2,280,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$188,280$186,603$184,967$183,370$181,810$180,362
2 years$93,208$91,472$89,790$88,159$86,576$85,117
3 years$61,521$59,778$58,100$56,484$54,928$53,502
4 years$45,681$43,943$42,282$40,694$39,175$37,793
5 years$36,180$34,452$32,812$31,257$29,780$28,447
6 years$29,847$28,133$26,517$24,996$23,564$22,281
7 years$25,326$23,626$22,036$20,551$19,164$17,932
8 years$21,936$20,252$18,688$17,239$15,898$14,718
9 years$19,302$17,633$16,096$14,684$13,389$12,259
10 years$17,195$15,542$14,033$12,658$11,408$10,328
11 years$15,472$13,836$12,354$11,016$9,811$8,780
12 years$14,038$12,419$10,964$9,663$8,502$7,519
13 years$12,825$11,223$9,796$8,531$7,414$6,478
14 years$11,787$10,201$8,802$7,573$6,499$5,609
15 years$10,887$9,319$7,947$6,753$5,722$4,877
16 years$10,101$8,550$7,205$6,047$5,057$4,256
17 years$9,408$7,874$6,556$5,433$4,484$3,725
18 years$8,793$7,276$5,985$4,896$3,987$3,268
19 years$8,243$6,744$5,479$4,424$3,554$2,874
20 years$7,749$6,266$5,028$4,007$3,174$2,532
21 years$7,302$5,837$4,625$3,637$2,841$2,235
22 years$6,897$5,449$4,263$3,307$2,546$1,975
23 years$6,527$5,096$3,936$3,011$2,286$1,748
24 years$6,189$4,775$3,640$2,747$2,054$1,549
25 years$5,878$4,481$3,371$2,508$1,849$1,374
26 years$5,592$4,211$3,127$2,293$1,665$1,219
27 years$5,327$3,963$2,903$2,099$1,501$1,083
28 years$5,082$3,734$2,699$1,923$1,355$963
29 years$4,854$3,523$2,512$1,764$1,223$856
30 years$4,641$3,327$2,340$1,619$1,105$762
31 years$4,443$3,145$2,181$1,487$999$678
32 years$4,257$2,976$2,035$1,366$904$604
33 years$4,083$2,818$1,900$1,256$818$538
34 years$3,920$2,671$1,775$1,156$741$480
35 years$3,766$2,534$1,660$1,064$671$428
36 years$3,621$2,405$1,553$980$608$381
37 years$3,484$2,284$1,453$903$551$340
38 years$3,355$2,171$1,361$832$499$304
39 years$3,233$2,064$1,275$767$453$271
40 years$3,117$1,964$1,195$708$411$242
41 years$3,007$1,869$1,121$653$373$216
42 years$2,903$1,780$1,051$603$338$193
43 years$2,803$1,696$986$556$307$172
44 years$2,709$1,617$926$514$279$154
45 years$2,619$1,542$869$474$253$137
46 years$2,533$1,471$817$438$230$122
47 years$2,451$1,404$767$405$209$109
48 years$2,373$1,340$721$374$189$98
49 years$2,298$1,280$678$346$172$87
50 years$2,226$1,222$637$320$156$78

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,280,000, adding $5,534 every year, while hoping to spend $48,260 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: 84/10/6 Blend
61$2,280,000$2,280,000$2,280,000$2,280,000
62$2,518,268$2,397,428$2,362,088$2,728,545
63$2,723,783$2,463,554$2,389,870$2,932,729
64$2,948,644$2,531,302$2,416,965$3,149,814
65$3,194,771$2,600,702$2,443,299$3,386,717
66$3,464,283$2,671,781$2,468,794$3,645,395
67$3,759,509$2,744,568$2,493,369$3,928,004
68$4,083,018$2,819,091$2,516,935$4,236,917
69$4,437,635$2,895,376$2,539,402$4,574,750
70$4,826,476$2,973,451$2,560,674$4,944,381
71$5,252,968$3,053,342$2,580,648$5,348,982
72$5,720,889$3,135,075$2,599,219$5,792,045
73$6,234,401$3,218,674$2,616,273$6,277,417
74$6,798,085$3,304,164$2,631,694$6,809,337
75$7,416,989$3,391,568$2,645,355$7,392,471
76$8,096,675$3,480,908$2,657,128$8,031,962
77$8,843,269$3,572,205$2,666,874$8,733,474
78$9,663,518$3,665,479$2,674,450$9,503,247
79$10,564,857$3,760,747$2,679,704$10,348,156
80$11,555,475$3,858,027$2,682,477$11,275,775
81$12,644,397$3,957,333$2,682,603$12,294,447
82$13,841,562$4,058,679$2,679,907$13,413,364
83$15,157,921$4,162,074$2,674,204$14,642,654
84$16,605,542$4,267,529$2,665,303$15,993,476
85$18,197,718$4,375,048$2,653,001$17,478,125
86$19,949,096$4,484,636$2,637,087$19,110,145
87$21,875,813$4,596,293$2,617,339$20,904,463
88$23,995,650$4,710,016$2,593,524$22,877,522
89$26,328,199$4,825,799$2,565,400$25,047,443
90$28,895,045$4,943,633$2,532,711$27,434,190
91$31,719,973$5,063,504$2,495,190$30,059,763
92$34,829,189$5,185,394$2,452,557$32,948,401
93$38,251,569$5,309,281$2,404,520$36,126,815
94$42,018,930$5,435,137$2,350,773$39,624,435
95$46,166,332$5,562,930$2,290,994$43,473,692
96$50,732,404$5,692,620$2,224,850$47,710,321
97$55,759,716$5,824,165$2,151,988$52,373,701
98$61,295,170$5,957,512$2,072,043$57,507,220
99$67,390,451$6,092,604$1,984,631$63,158,695
100$74,102,511$6,229,376$1,889,350$69,380,811