Can I retire at age 62 with 2,360,000?

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 $2,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$194,887$193,151$191,457$189,804$188,190$183,343
2 years$96,479$94,682$92,940$91,252$89,614$84,763
3 years$63,680$61,876$60,139$58,466$56,855$52,152
4 years$47,284$45,485$43,765$42,121$40,549$36,030
5 years$37,449$35,661$33,964$32,353$30,825$26,502
6 years$30,895$29,120$27,448$25,873$24,391$20,269
7 years$26,215$24,455$22,809$21,272$19,836$15,915
8 years$22,706$20,962$19,344$17,844$16,456$12,734
9 years$19,979$18,251$16,661$15,199$13,858$10,332
10 years$17,798$16,088$14,525$13,102$11,808$8,474
11 years$16,015$14,322$12,788$11,403$10,155$7,007
12 years$14,531$12,855$11,349$10,002$8,800$5,834
13 years$13,275$11,617$10,140$8,830$7,674$4,882
14 years$12,200$10,559$9,110$7,838$6,727$4,104
15 years$11,269$9,646$8,226$6,990$5,923$3,462
16 years$10,456$8,850$7,458$6,259$5,235$2,929
17 years$9,738$8,151$6,786$5,624$4,642$2,485
18 years$9,102$7,532$6,195$5,068$4,127$2,112
19 years$8,532$6,980$5,671$4,580$3,679$1,798
20 years$8,021$6,486$5,205$4,148$3,286$1,533
21 years$7,559$6,042$4,787$3,764$2,940$1,309
22 years$7,139$5,640$4,412$3,423$2,636$1,119
23 years$6,756$5,275$4,074$3,117$2,366$957
24 years$6,406$4,942$3,768$2,843$2,127$819
25 years$6,084$4,638$3,490$2,596$1,914$702
26 years$5,788$4,359$3,236$2,374$1,724$601
27 years$5,514$4,102$3,005$2,173$1,554$515
28 years$5,260$3,866$2,794$1,991$1,402$442
29 years$5,024$3,647$2,600$1,826$1,266$379
30 years$4,804$3,444$2,422$1,675$1,144$326
31 years$4,599$3,256$2,258$1,539$1,034$280
32 years$4,407$3,080$2,106$1,414$936$240
33 years$4,226$2,917$1,967$1,300$847$206
34 years$4,057$2,765$1,838$1,197$767$177
35 years$3,898$2,622$1,718$1,101$694$152
36 years$3,748$2,489$1,607$1,014$629$131
37 years$3,607$2,364$1,504$935$570$112
38 years$3,473$2,247$1,409$862$517$97
39 years$3,346$2,136$1,320$794$469$83
40 years$3,226$2,033$1,237$733$425$71
41 years$3,113$1,935$1,160$676$386$61
42 years$3,005$1,843$1,088$624$350$53
43 years$2,902$1,756$1,021$576$318$45
44 years$2,804$1,674$958$532$288$39
45 years$2,711$1,596$900$491$262$33
46 years$2,622$1,522$845$454$238$29
47 years$2,537$1,453$794$419$216$25
48 years$2,456$1,387$746$387$196$21
49 years$2,378$1,324$701$358$178$18
50 years$2,304$1,265$659$331$162$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,360,000, adding $2,180 every year, while hoping to spend $54,995 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: 67/12/21 Blend
61$2,360,000$2,360,000$2,360,000$2,360,000
62$2,602,969$2,477,889$2,441,309$2,763,459
63$2,809,957$2,540,791$2,464,578$2,934,193
64$3,036,215$2,604,932$2,486,784$3,114,292
65$3,283,651$2,670,315$2,507,833$3,309,936
66$3,554,363$2,736,941$2,527,625$3,522,656
67$3,850,665$2,804,808$2,546,058$3,754,136
68$4,175,104$2,873,914$2,563,021$4,006,232
69$4,530,483$2,944,254$2,578,401$4,280,990
70$4,919,890$3,015,821$2,592,075$4,580,661
71$5,346,727$3,088,604$2,603,918$4,907,730
72$5,814,738$3,162,591$2,613,795$5,264,931
73$6,328,051$3,237,767$2,621,566$5,655,278
74$6,891,207$3,314,113$2,627,084$6,082,091
75$7,509,213$3,391,608$2,630,194$6,549,031
76$8,187,582$3,470,225$2,630,734$7,060,128
77$8,932,386$3,549,936$2,628,534$7,619,827
78$9,750,314$3,630,708$2,623,415$8,233,024
79$10,648,736$3,712,503$2,615,189$8,905,114
80$11,635,769$3,795,278$2,603,660$9,642,044
81$12,720,357$3,878,986$2,588,622$10,450,366
82$13,912,352$3,963,574$2,569,859$11,337,301
83$15,222,607$4,048,985$2,547,145$12,310,807
84$16,663,081$4,135,154$2,520,243$13,379,653
85$18,246,948$4,222,009$2,488,904$14,553,504
86$19,988,724$4,309,474$2,452,869$15,843,012
87$21,904,398$4,397,463$2,411,865$17,259,914
88$24,011,592$4,485,884$2,365,607$18,817,145
89$26,329,716$4,574,635$2,313,797$20,528,962
90$28,880,162$4,663,606$2,256,124$22,411,076
91$31,686,494$4,752,678$2,192,260$24,480,801
92$34,774,680$4,841,723$2,121,864$26,757,220
93$38,173,330$4,930,600$2,044,579$29,261,361
94$41,913,969$5,019,158$1,960,031$32,016,402
95$46,031,332$5,107,235$1,867,831$35,047,884
96$50,563,693$5,194,655$1,767,568$38,383,956
97$55,553,226$5,281,230$1,658,818$42,055,639
98$61,046,400$5,366,755$1,541,134$46,097,124
99$67,094,421$5,451,014$1,414,050$50,546,088
100$73,753,710$5,533,772$1,277,079$55,444,055