Can I retire at age 62 with 2,310,000?

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 $2,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$190,758$189,058$187,401$185,783$184,203$177,738
2 years$94,434$92,676$90,971$89,319$87,716$81,270
3 years$62,331$60,565$58,864$57,227$55,650$49,427
4 years$46,282$44,521$42,838$41,229$39,690$33,736
5 years$36,656$34,905$33,244$31,668$30,172$24,503
6 years$30,240$28,503$26,866$25,325$23,874$18,495
7 years$25,659$23,937$22,326$20,821$19,416$14,325
8 years$22,225$20,518$18,934$17,466$16,107$11,301
9 years$19,556$17,865$16,308$14,877$13,565$9,037
10 years$17,421$15,747$14,218$12,824$11,558$7,300
11 years$15,676$14,019$12,517$11,161$9,940$5,945
12 years$14,223$12,582$11,109$9,790$8,614$4,871
13 years$12,994$11,371$9,925$8,643$7,512$4,011
14 years$11,942$10,336$8,917$7,672$6,585$3,316
15 years$11,031$9,442$8,051$6,842$5,798$2,750
16 years$10,234$8,663$7,300$6,127$5,124$2,287
17 years$9,532$7,978$6,642$5,505$4,543$1,906
18 years$8,909$7,372$6,064$4,961$4,040$1,592
19 years$8,352$6,832$5,551$4,482$3,601$1,331
20 years$7,851$6,349$5,094$4,060$3,216$1,114
21 years$7,398$5,914$4,686$3,684$2,878$934
22 years$6,988$5,520$4,319$3,350$2,580$783
23 years$6,613$5,163$3,988$3,051$2,316$657
24 years$6,270$4,837$3,688$2,783$2,081$552
25 years$5,956$4,540$3,416$2,541$1,873$464
26 years$5,665$4,267$3,168$2,324$1,687$390
27 years$5,397$4,015$2,942$2,127$1,521$328
28 years$5,148$3,784$2,735$1,949$1,372$276
29 years$4,917$3,569$2,545$1,787$1,239$232
30 years$4,702$3,371$2,370$1,640$1,120$195
31 years$4,501$3,187$2,210$1,506$1,012$164
32 years$4,313$3,015$2,062$1,384$916$138
33 years$4,137$2,855$1,925$1,273$829$116
34 years$3,971$2,706$1,799$1,171$750$98
35 years$3,816$2,567$1,682$1,078$680$83
36 years$3,669$2,436$1,573$993$616$70
37 years$3,530$2,314$1,472$915$558$59
38 years$3,399$2,199$1,379$843$506$49
39 years$3,276$2,091$1,292$778$459$42
40 years$3,158$1,990$1,211$717$416$35
41 years$3,047$1,894$1,135$662$378$29
42 years$2,941$1,804$1,065$611$343$25
43 years$2,840$1,719$999$564$311$21
44 years$2,745$1,638$938$520$282$18
45 years$2,653$1,562$881$481$256$15
46 years$2,566$1,490$827$444$233$13
47 years$2,483$1,422$777$410$211$11
48 years$2,404$1,358$730$379$192$9
49 years$2,328$1,296$687$350$174$7
50 years$2,255$1,238$645$324$158$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,310,000, adding $5,763 every year, while hoping to spend $51,498 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: 82/8/10 Blend
61$2,310,000$2,310,000$2,310,000$2,310,000
62$2,551,565$2,429,135$2,393,330$2,756,359
63$2,757,031$2,493,369$2,418,713$2,955,562
64$2,981,728$2,559,024$2,443,220$3,166,807
65$3,227,565$2,626,117$2,466,768$3,397,181
66$3,496,640$2,694,660$2,489,268$3,648,573
67$3,791,267$2,764,668$2,510,628$3,923,064
68$4,113,991$2,836,152$2,530,750$4,222,947
69$4,467,619$2,909,123$2,549,530$4,550,746
70$4,855,237$2,983,591$2,566,860$4,909,243
71$5,280,247$3,059,564$2,582,627$5,301,500
72$5,746,397$3,137,047$2,596,709$5,730,890
73$6,257,812$3,216,045$2,608,981$6,201,131
74$6,819,038$3,296,560$2,619,311$6,716,315
75$7,435,081$3,378,593$2,627,560$7,280,954
76$8,111,457$3,462,141$2,633,580$7,900,015
77$8,854,239$3,547,200$2,637,219$8,578,972
78$9,670,121$3,633,763$2,638,316$9,323,856
79$10,566,475$3,721,818$2,636,700$10,141,309
80$11,551,422$3,811,354$2,632,196$11,038,653
81$12,633,909$3,902,352$2,624,617$12,023,950
82$13,823,793$3,994,793$2,613,767$13,106,088
83$15,131,934$4,088,652$2,599,442$14,294,856
84$16,570,296$4,183,901$2,581,429$15,601,040
85$18,152,061$4,280,506$2,559,501$17,036,528
86$19,891,751$4,378,431$2,533,424$18,614,415
87$21,805,367$4,477,631$2,502,951$20,349,130
88$23,910,538$4,578,059$2,467,823$22,256,575
89$26,226,689$4,679,660$2,427,772$24,354,269
90$28,775,222$4,782,374$2,382,512$26,661,519
91$31,579,717$4,886,133$2,331,749$29,199,597
92$34,666,158$4,990,863$2,275,173$31,991,944
93$38,063,173$5,096,482$2,212,458$35,064,390
94$41,802,307$5,202,900$2,143,265$38,445,399
95$45,918,318$5,310,018$2,067,241$42,166,334
96$50,449,507$5,417,729$1,984,013$46,261,758
97$55,438,073$5,525,915$1,893,195$50,769,755
98$60,930,519$5,634,447$1,794,379$55,732,295
99$66,978,083$5,743,186$1,687,142$61,195,623
100$73,637,228$5,851,983$1,571,042$67,210,703