Can I retire at age 62 with 2,380,000?

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 $2,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$196,538$194,788$193,080$191,412$189,785$184,598
2 years$97,296$95,484$93,728$92,025$90,374$85,186
3 years$64,220$62,400$60,648$58,961$57,337$52,310
4 years$47,685$45,871$44,136$42,478$40,893$36,067
5 years$37,766$35,963$34,252$32,627$31,086$26,473
6 years$31,156$29,367$27,680$26,092$24,597$20,202
7 years$26,437$24,662$23,003$21,452$20,004$15,827
8 years$22,899$21,140$19,508$17,996$16,596$12,634
9 years$20,148$18,406$16,802$15,328$13,976$10,226
10 years$17,949$16,224$14,649$13,213$11,908$8,366
11 years$16,151$14,443$12,896$11,499$10,241$6,901
12 years$14,654$12,964$11,445$10,086$8,875$5,730
13 years$13,388$11,715$10,226$8,905$7,739$4,782
14 years$12,304$10,649$9,188$7,905$6,784$4,009
15 years$11,365$9,728$8,295$7,050$5,973$3,373
16 years$10,544$8,925$7,521$6,312$5,279$2,845
17 years$9,821$8,220$6,844$5,671$4,681$2,406
18 years$9,179$7,595$6,247$5,111$4,162$2,039
19 years$8,605$7,039$5,719$4,618$3,710$1,731
20 years$8,089$6,541$5,249$4,183$3,314$1,472
21 years$7,623$6,093$4,828$3,796$2,965$1,252
22 years$7,199$5,688$4,450$3,452$2,658$1,067
23 years$6,814$5,319$4,108$3,143$2,386$910
24 years$6,460$4,984$3,800$2,867$2,145$776
25 years$6,136$4,677$3,519$2,618$1,930$663
26 years$5,837$4,396$3,264$2,394$1,738$566
27 years$5,561$4,137$3,031$2,191$1,567$484
28 years$5,305$3,898$2,818$2,008$1,414$414
29 years$5,066$3,678$2,622$1,841$1,277$354
30 years$4,845$3,473$2,442$1,690$1,154$303
31 years$4,638$3,283$2,277$1,552$1,043$259
32 years$4,444$3,107$2,124$1,426$944$222
33 years$4,262$2,942$1,983$1,311$854$190
34 years$4,092$2,788$1,853$1,207$773$162
35 years$3,931$2,645$1,733$1,111$700$139
36 years$3,780$2,510$1,621$1,023$634$119
37 years$3,637$2,384$1,517$943$575$102
38 years$3,502$2,266$1,421$869$521$87
39 years$3,375$2,155$1,331$801$473$75
40 years$3,254$2,050$1,248$739$429$64
41 years$3,139$1,951$1,170$682$389$55
42 years$3,030$1,858$1,097$629$353$47
43 years$2,926$1,771$1,030$581$320$40
44 years$2,828$1,688$967$536$291$35
45 years$2,734$1,609$908$495$264$30
46 years$2,644$1,535$852$457$240$25
47 years$2,559$1,465$801$423$218$22
48 years$2,477$1,399$753$391$198$19
49 years$2,399$1,336$707$361$180$16
50 years$2,324$1,276$665$334$163$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,380,000, adding $2,103 every year, while hoping to spend $50,446 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: 42/35/23 Blend
61$2,380,000$2,380,000$2,380,000$2,380,000
62$2,624,929$2,498,789$2,461,899$2,717,412
63$2,838,998$2,567,556$2,490,699$2,852,365
64$3,073,211$2,638,001$2,518,772$2,993,420
65$3,329,569$2,710,154$2,546,042$3,145,164
66$3,610,278$2,784,044$2,572,427$3,308,609
67$3,917,763$2,859,699$2,597,840$3,484,868
68$4,254,697$2,937,147$2,622,190$3,675,168
69$4,624,024$3,016,415$2,645,381$3,880,857
70$5,028,986$3,097,531$2,667,313$4,103,423
71$5,473,154$3,180,521$2,687,879$4,344,502
72$5,960,460$3,265,411$2,706,967$4,605,898
73$6,495,236$3,352,225$2,724,460$4,889,597
74$7,082,253$3,440,987$2,740,233$5,197,786
75$7,726,768$3,531,721$2,754,156$5,532,877
76$8,434,571$3,624,448$2,766,093$5,897,525
77$9,212,039$3,719,188$2,775,899$6,294,654
78$10,066,199$3,815,960$2,783,423$6,727,489
79$11,004,791$3,914,782$2,788,508$7,199,580
80$12,036,343$4,015,669$2,790,985$7,714,841
81$13,170,248$4,118,634$2,790,681$8,277,583
82$14,416,857$4,223,691$2,787,413$8,892,558
83$15,787,572$4,330,847$2,780,987$9,565,001
84$17,294,956$4,440,111$2,771,201$10,300,681
85$18,952,850$4,551,485$2,757,845$11,105,957
86$20,776,504$4,664,971$2,740,697$11,987,834
87$22,782,721$4,780,568$2,719,524$12,954,034
88$24,990,013$4,898,271$2,694,082$14,013,064
89$27,418,778$5,018,069$2,664,117$15,174,303
90$30,091,489$5,139,951$2,629,362$16,448,085
91$33,032,912$5,263,899$2,589,535$17,845,798
92$36,270,330$5,389,891$2,544,346$19,379,993
93$39,833,808$5,517,900$2,493,487$21,064,504
94$43,756,475$5,647,896$2,436,636$22,914,575
95$48,074,831$5,779,838$2,373,460$24,947,008
96$52,829,099$5,913,685$2,303,605$27,180,319
97$58,063,596$6,049,385$2,226,706$29,634,916
98$63,827,160$6,186,882$2,142,377$32,333,288
99$70,173,600$6,326,109$2,050,217$35,300,224
100$77,162,214$6,466,995$1,949,805$38,563,042