Can I retire at age 62 with 2,330,000?

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 $2,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$192,409$190,695$189,023$187,391$185,797$180,139
2 years$95,252$93,478$91,759$90,092$88,475$82,822
3 years$62,871$61,089$59,374$57,723$56,132$50,663
4 years$46,683$44,907$43,209$41,586$40,034$34,790
5 years$36,973$35,208$33,532$31,942$30,433$25,429
6 years$30,502$28,750$27,099$25,544$24,081$19,321
7 years$25,881$24,144$22,519$21,001$19,584$15,068
8 years$22,418$20,696$19,098$17,618$16,247$11,971
9 years$19,725$18,019$16,449$15,006$13,682$9,643
10 years$17,572$15,883$14,341$12,936$11,658$7,849
11 years$15,812$14,140$12,625$11,258$10,026$6,441
12 years$14,346$12,691$11,205$9,875$8,689$5,320
13 years$13,107$11,469$10,011$8,718$7,577$4,417
14 years$12,045$10,425$8,995$7,739$6,642$3,682
15 years$11,126$9,524$8,121$6,902$5,848$3,080
16 years$10,323$8,738$7,363$6,180$5,168$2,584
17 years$9,615$8,047$6,700$5,552$4,583$2,172
18 years$8,986$7,436$6,116$5,004$4,075$1,830
19 years$8,424$6,891$5,599$4,521$3,632$1,544
20 years$7,919$6,404$5,139$4,095$3,244$1,305
21 years$7,463$5,965$4,726$3,716$2,903$1,104
22 years$7,048$5,568$4,356$3,379$2,602$934
23 years$6,670$5,208$4,022$3,077$2,336$792
24 years$6,325$4,879$3,720$2,807$2,099$671
25 years$6,007$4,579$3,445$2,563$1,889$569
26 years$5,714$4,303$3,195$2,344$1,702$483
27 years$5,444$4,050$2,967$2,145$1,534$410
28 years$5,193$3,816$2,758$1,966$1,384$349
29 years$4,960$3,600$2,567$1,802$1,250$296
30 years$4,743$3,400$2,391$1,654$1,130$252
31 years$4,540$3,214$2,229$1,519$1,021$214
32 years$4,350$3,041$2,080$1,396$924$182
33 years$4,173$2,880$1,942$1,284$836$155
34 years$4,006$2,730$1,814$1,181$757$132
35 years$3,849$2,589$1,696$1,087$686$112
36 years$3,701$2,457$1,587$1,002$621$95
37 years$3,561$2,334$1,485$923$563$81
38 years$3,429$2,218$1,391$851$510$69
39 years$3,304$2,109$1,303$784$463$59
40 years$3,185$2,007$1,221$723$420$50
41 years$3,073$1,910$1,145$667$381$42
42 years$2,966$1,819$1,074$616$346$36
43 years$2,865$1,733$1,008$569$314$31
44 years$2,768$1,652$946$525$285$26
45 years$2,676$1,576$889$485$258$22
46 years$2,589$1,503$835$448$235$19
47 years$2,505$1,434$784$414$213$16
48 years$2,425$1,369$737$382$194$14
49 years$2,348$1,308$692$353$176$12
50 years$2,275$1,249$651$327$160$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,330,000, adding $4,324 every year, while hoping to spend $38,730 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: 61/11/28 Blend
61$2,330,000$2,330,000$2,330,000$2,330,000
62$2,572,120$2,448,630$2,412,515$2,709,368
63$2,793,268$2,527,405$2,452,126$2,882,097
64$3,035,675$2,608,741$2,491,766$3,066,004
65$3,301,468$2,692,724$2,531,394$3,265,937
66$3,592,991$2,779,441$2,570,970$3,483,470
67$3,912,825$2,868,982$2,610,446$3,720,334
68$4,263,813$2,961,442$2,649,775$3,978,438
69$4,649,085$3,056,916$2,688,906$4,259,883
70$5,072,092$3,155,504$2,727,784$4,566,983
71$5,536,632$3,257,311$2,766,352$4,902,289
72$6,046,892$3,362,443$2,804,549$5,268,609
73$6,607,483$3,471,010$2,842,308$5,669,036
74$7,223,484$3,583,127$2,879,563$6,106,978
75$7,900,491$3,698,912$2,916,240$6,586,190
76$8,644,669$3,818,487$2,952,263$7,110,808
77$9,462,811$3,941,979$2,987,549$7,685,390
78$10,362,399$4,069,517$3,022,014$8,314,956
79$11,351,679$4,201,239$3,055,566$9,005,037
80$12,439,733$4,337,282$3,088,110$9,761,729
81$13,636,569$4,477,792$3,119,545$10,591,745
82$14,953,214$4,622,919$3,149,765$11,502,486
83$16,401,817$4,772,817$3,178,657$12,502,104
84$17,995,764$4,927,646$3,206,103$13,599,581
85$19,749,803$5,087,573$3,231,979$14,804,815
86$21,680,186$5,252,767$3,256,154$16,128,712
87$23,804,820$5,423,407$3,278,490$17,583,291
88$26,143,433$5,599,676$3,298,841$19,181,793
89$28,717,767$5,781,763$3,317,056$20,938,810
90$31,551,775$5,969,866$3,332,973$22,870,422
91$34,671,853$6,164,186$3,346,425$24,994,347
92$38,107,086$6,364,935$3,357,233$27,330,110
93$41,889,521$6,572,330$3,365,214$29,899,225
94$46,054,474$6,786,595$3,370,170$32,725,401
95$50,640,857$7,007,965$3,371,897$35,834,765
96$55,691,549$7,236,680$3,370,180$39,256,105
97$61,253,799$7,472,989$3,364,793$43,021,148
98$67,379,672$7,717,152$3,355,500$47,164,854
99$74,126,542$7,969,435$3,342,052$51,725,750
100$81,557,627$8,230,116$3,324,189$56,746,290