Can I retire at age 62 with 2,290,000?

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 $2,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$189,106$187,422$185,778$184,174$182,608$176,833
2 years$93,617$91,873$90,184$88,545$86,956$81,191
3 years$61,791$60,040$58,355$56,732$55,169$49,593
4 years$45,882$44,136$42,467$40,872$39,347$34,004
5 years$36,338$34,603$32,956$31,394$29,911$24,815
6 years$29,978$28,256$26,634$25,106$23,667$18,823
7 years$25,437$23,729$22,133$20,641$19,248$14,655
8 years$22,033$20,340$18,770$17,315$15,968$11,623
9 years$19,386$17,710$16,167$14,749$13,447$9,345
10 years$17,270$15,611$14,095$12,713$11,458$7,592
11 years$15,540$13,897$12,409$11,065$9,854$6,218
12 years$14,100$12,473$11,012$9,705$8,539$5,126
13 years$12,882$11,272$9,839$8,568$7,446$4,247
14 years$11,838$10,246$8,840$7,606$6,528$3,533
15 years$10,935$9,360$7,982$6,783$5,747$2,949
16 years$10,146$8,588$7,236$6,073$5,080$2,469
17 years$9,450$7,909$6,585$5,457$4,504$2,071
18 years$8,832$7,308$6,011$4,918$4,005$1,741
19 years$8,279$6,773$5,503$4,444$3,569$1,466
20 years$7,783$6,294$5,050$4,025$3,188$1,235
21 years$7,334$5,863$4,645$3,653$2,853$1,043
22 years$6,927$5,472$4,281$3,321$2,557$881
23 years$6,556$5,118$3,953$3,025$2,296$744
24 years$6,216$4,796$3,656$2,759$2,063$630
25 years$5,904$4,500$3,386$2,519$1,857$533
26 years$5,616$4,230$3,140$2,303$1,673$451
27 years$5,350$3,981$2,916$2,108$1,508$382
28 years$5,104$3,751$2,711$1,932$1,361$324
29 years$4,875$3,539$2,523$1,771$1,229$274
30 years$4,661$3,342$2,350$1,626$1,110$233
31 years$4,462$3,159$2,191$1,493$1,004$197
32 years$4,276$2,989$2,044$1,372$908$167
33 years$4,101$2,831$1,908$1,262$822$142
34 years$3,937$2,683$1,783$1,161$744$120
35 years$3,783$2,545$1,667$1,069$674$102
36 years$3,637$2,415$1,560$984$610$87
37 years$3,500$2,294$1,460$907$553$74
38 years$3,370$2,180$1,367$836$502$62
39 years$3,247$2,073$1,281$771$455$53
40 years$3,131$1,972$1,200$711$413$45
41 years$3,020$1,877$1,126$656$374$38
42 years$2,916$1,788$1,056$605$340$32
43 years$2,816$1,704$991$559$308$27
44 years$2,721$1,624$930$516$280$23
45 years$2,630$1,549$873$477$254$20
46 years$2,544$1,477$820$440$231$17
47 years$2,462$1,410$771$407$209$14
48 years$2,383$1,346$724$376$190$12
49 years$2,308$1,285$681$347$173$10
50 years$2,236$1,228$640$321$157$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,290,000, adding $4,229 every year, while hoping to spend $32,345 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: 30/50/20 Blend
61$2,290,000$2,290,000$2,290,000$2,290,000
62$2,527,942$2,406,572$2,371,077$2,587,817
63$2,751,377$2,490,079$2,416,093$2,717,185
64$2,996,519$2,576,594$2,461,534$2,853,066
65$3,265,547$2,666,230$2,507,378$2,998,566
66$3,560,862$2,759,105$2,553,605$3,154,536
67$3,885,110$2,855,341$2,600,190$3,321,911
68$4,241,203$2,955,065$2,647,109$3,501,714
69$4,632,353$3,058,410$2,694,333$3,695,072
70$5,062,093$3,165,513$2,741,834$3,903,219
71$5,534,321$3,276,517$2,789,580$4,127,511
72$6,053,326$3,391,570$2,837,535$4,369,438
73$6,623,837$3,510,829$2,885,664$4,630,637
74$7,251,061$3,634,452$2,933,927$4,912,905
75$7,940,737$3,762,609$2,982,282$5,218,220
76$8,699,188$3,895,472$3,030,683$5,548,752
77$9,533,378$4,033,223$3,079,084$5,906,891
78$10,450,983$4,176,051$3,127,433$6,295,261
79$11,460,456$4,324,151$3,175,676$6,716,749
80$12,571,115$4,477,727$3,223,753$7,174,532
81$13,793,225$4,636,991$3,271,605$7,672,100
82$15,138,096$4,802,166$3,319,166$8,213,296
83$16,618,189$4,973,479$3,366,365$8,802,345
84$18,247,236$5,151,171$3,413,130$9,443,899
85$20,040,366$5,335,491$3,459,382$10,143,072
86$22,014,251$5,526,697$3,505,039$10,905,496
87$24,187,260$5,725,061$3,550,013$11,737,367
88$26,579,633$5,930,862$3,594,211$12,645,505
89$29,213,675$6,144,393$3,637,537$13,637,418
90$32,113,961$6,365,960$3,679,885$14,721,368
91$35,307,572$6,595,879$3,721,148$15,906,451
92$38,824,348$6,834,480$3,761,210$17,202,684
93$42,697,170$7,082,108$3,799,949$18,621,092
94$46,962,271$7,339,121$3,837,237$20,173,815
95$51,659,577$7,605,893$3,872,939$21,874,221
96$56,833,083$7,882,811$3,906,912$23,737,029
97$62,531,271$8,170,282$3,939,007$25,778,449
98$68,807,562$8,468,727$3,969,065$28,016,330
99$75,720,825$8,778,586$3,996,920$30,470,332
100$83,335,929$9,100,317$4,022,398$33,162,105