Can I retire at age 62 with 2,350,000?

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 $2,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$194,061$192,332$190,646$189,000$187,392$186,289
2 years$96,070$94,280$92,546$90,865$89,234$88,122
3 years$63,410$61,613$59,884$58,218$56,614$55,526
4 years$47,084$45,292$43,580$41,943$40,378$39,323
5 years$37,290$35,510$33,820$32,216$30,694$29,676
6 years$30,764$28,996$27,331$25,764$24,287$23,306
7 years$26,103$24,351$22,713$21,182$19,752$18,809
8 years$22,610$20,873$19,262$17,769$16,386$15,481
9 years$19,894$18,174$16,590$15,135$13,800$12,932
10 years$17,723$16,020$14,464$13,047$11,758$10,928
11 years$15,948$14,261$12,734$11,354$10,112$9,319
12 years$14,469$12,800$11,301$9,959$8,763$8,006
13 years$13,219$11,568$10,097$8,793$7,642$6,919
14 years$12,149$10,515$9,072$7,805$6,699$6,011
15 years$11,222$9,605$8,191$6,961$5,898$5,244
16 years$10,411$8,813$7,426$6,233$5,213$4,591
17 years$9,697$8,116$6,757$5,600$4,622$4,032
18 years$9,063$7,500$6,169$5,047$4,110$3,551
19 years$8,496$6,951$5,647$4,560$3,663$3,134
20 years$7,987$6,459$5,183$4,130$3,272$2,771
21 years$7,527$6,016$4,767$3,748$2,928$2,455
22 years$7,109$5,616$4,394$3,408$2,624$2,178
23 years$6,728$5,252$4,057$3,104$2,356$1,935
24 years$6,379$4,921$3,752$2,831$2,117$1,721
25 years$6,059$4,618$3,475$2,585$1,905$1,532
26 years$5,763$4,340$3,223$2,364$1,716$1,365
27 years$5,491$4,085$2,993$2,164$1,547$1,217
28 years$5,238$3,849$2,782$1,982$1,396$1,086
29 years$5,003$3,631$2,589$1,818$1,261$970
30 years$4,784$3,429$2,411$1,668$1,139$867
31 years$4,579$3,242$2,248$1,532$1,030$775
32 years$4,388$3,067$2,098$1,408$932$693
33 years$4,209$2,905$1,958$1,295$843$620
34 years$4,040$2,753$1,830$1,191$763$555
35 years$3,882$2,611$1,711$1,097$691$497
36 years$3,732$2,479$1,600$1,010$626$445
37 years$3,591$2,354$1,498$931$568$398
38 years$3,458$2,237$1,403$858$515$357
39 years$3,332$2,127$1,314$791$467$320
40 years$3,213$2,024$1,232$730$423$287
41 years$3,100$1,927$1,155$673$384$257
42 years$2,992$1,835$1,084$621$349$230
43 years$2,890$1,748$1,017$573$316$207
44 years$2,792$1,666$954$529$287$185
45 years$2,699$1,589$896$489$261$166
46 years$2,611$1,516$842$452$237$149
47 years$2,526$1,447$791$417$215$134
48 years$2,446$1,381$743$386$195$120
49 years$2,368$1,319$698$356$177$108
50 years$2,294$1,260$657$329$161$97

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,350,000, adding $2,829 every year, while hoping to spend $23,079 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: 64/12/24 Blend
61$2,350,000$2,350,000$2,350,000$2,350,000
62$2,592,618$2,468,068$2,431,643$2,742,116
63$2,832,509$2,564,448$2,488,547$2,939,729
64$3,096,096$2,664,776$2,546,584$3,152,717
65$3,385,770$2,769,223$2,605,768$3,384,910
66$3,704,169$2,877,965$2,666,110$3,638,191
67$4,054,195$2,991,186$2,727,626$3,914,635
68$4,439,048$3,109,079$2,790,327$4,216,526
69$4,862,252$3,231,846$2,854,224$4,546,378
70$5,327,692$3,359,696$2,919,331$4,906,961
71$5,839,646$3,492,850$2,985,658$5,301,321
72$6,402,828$3,631,538$3,053,215$5,732,815
73$7,022,431$3,775,998$3,122,013$6,205,139
74$7,704,180$3,926,483$3,192,061$6,722,364
75$8,454,378$4,083,253$3,263,367$7,288,971
76$9,279,975$4,246,582$3,335,940$7,909,898
77$10,188,625$4,416,757$3,409,787$8,590,581
78$11,188,763$4,594,077$3,484,913$9,337,008
79$12,289,684$4,778,853$3,561,324$10,155,776
80$13,501,628$4,971,413$3,639,025$11,054,148
81$14,835,880$5,172,098$3,718,018$12,040,129
82$16,304,873$5,381,265$3,798,306$13,122,532
83$17,922,310$5,599,287$3,879,888$14,311,069
84$19,703,287$5,826,553$3,962,766$15,616,435
85$21,664,440$6,063,472$4,046,936$17,050,416
86$23,824,100$6,310,469$4,132,396$18,625,992
87$26,202,467$6,567,991$4,219,140$20,357,464
88$28,821,799$6,836,503$4,307,162$22,260,589
89$31,706,623$7,116,493$4,396,452$24,352,723
90$34,883,967$7,408,469$4,487,002$26,652,992
91$38,383,614$7,712,966$4,578,798$29,182,463
92$42,238,380$8,030,539$4,671,826$31,964,349
93$46,484,432$8,361,772$4,766,069$35,024,227
94$51,161,619$8,707,274$4,861,507$38,390,273
95$56,313,856$9,067,683$4,958,120$42,093,536
96$61,989,535$9,443,665$5,055,882$46,168,221
97$68,241,981$9,835,917$5,154,768$50,652,021
98$75,129,956$10,245,170$5,254,745$55,586,462
99$82,718,213$10,672,186$5,355,781$61,017,304
100$91,078,111$11,117,763$5,457,840$66,994,964