Can I retire at age 62 with 2,390,000?

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 $2,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.8%
1 years$197,364$195,606$193,891$192,217$190,582$189,143
2 years$97,705$95,885$94,122$92,412$90,753$89,303
3 years$64,490$62,662$60,903$59,209$57,578$56,160
4 years$47,885$46,063$44,322$42,657$41,065$39,691
5 years$37,925$36,114$34,396$32,765$31,217$29,892
6 years$31,287$29,490$27,797$26,202$24,701$23,425
7 years$26,548$24,766$23,099$21,542$20,088$18,863
8 years$22,995$21,229$19,590$18,071$16,665$15,490
9 years$20,233$18,483$16,873$15,393$14,035$12,910
10 years$18,025$16,292$14,710$13,269$11,958$10,883
11 years$16,219$14,504$12,951$11,548$10,284$9,258
12 years$14,715$13,018$11,493$10,129$8,912$7,933
13 years$13,444$11,764$10,268$8,942$7,772$6,839
14 years$12,355$10,694$9,226$7,938$6,813$5,926
15 years$11,413$9,769$8,330$7,079$5,998$5,156
16 years$10,589$8,963$7,552$6,339$5,301$4,502
17 years$9,862$8,254$6,872$5,695$4,701$3,943
18 years$9,217$7,627$6,274$5,133$4,180$3,462
19 years$8,641$7,069$5,743$4,638$3,725$3,047
20 years$8,123$6,569$5,271$4,200$3,327$2,687
21 years$7,655$6,119$4,848$3,812$2,978$2,373
22 years$7,230$5,711$4,468$3,466$2,669$2,099
23 years$6,842$5,342$4,126$3,157$2,396$1,859
24 years$6,488$5,005$3,816$2,879$2,154$1,648
25 years$6,162$4,697$3,534$2,629$1,938$1,463
26 years$5,862$4,414$3,278$2,404$1,746$1,299
27 years$5,584$4,154$3,044$2,201$1,574$1,155
28 years$5,327$3,915$2,829$2,016$1,420$1,028
29 years$5,088$3,693$2,633$1,849$1,282$915
30 years$4,865$3,488$2,453$1,697$1,159$815
31 years$4,657$3,297$2,286$1,558$1,047$726
32 years$4,463$3,120$2,133$1,432$948$647
33 years$4,280$2,954$1,992$1,317$858$577
34 years$4,109$2,800$1,861$1,212$776$515
35 years$3,948$2,656$1,740$1,115$703$459
36 years$3,796$2,521$1,628$1,027$637$410
37 years$3,653$2,394$1,523$947$577$366
38 years$3,517$2,275$1,427$872$524$327
39 years$3,389$2,164$1,337$804$475$292
40 years$3,268$2,058$1,253$742$431$261
41 years$3,152$1,959$1,175$685$391$233
42 years$3,043$1,866$1,102$632$354$208
43 years$2,939$1,778$1,034$583$322$186
44 years$2,840$1,695$971$538$292$166
45 years$2,745$1,616$911$497$265$148
46 years$2,655$1,542$856$459$241$133
47 years$2,569$1,471$804$424$219$119
48 years$2,487$1,405$756$392$198$106
49 years$2,409$1,341$710$362$180$95
50 years$2,333$1,281$668$335$164$85

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,390,000, adding $6,821 every year, while hoping to spend $36,206 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: 32/45/23 Blend
61$2,390,000$2,390,000$2,390,000$2,390,000
62$2,640,816$2,514,146$2,477,101$2,706,440
63$2,871,656$2,598,816$2,521,561$2,841,223
64$3,124,829$2,686,422$2,566,297$2,982,566
65$3,402,573$2,777,068$2,611,280$3,134,070
66$3,707,356$2,870,865$2,656,478$3,296,650
67$4,041,896$2,967,927$2,701,859$3,471,311
68$4,409,184$3,068,371$2,747,387$3,659,154
69$4,812,520$3,172,319$2,793,023$3,861,391
70$5,255,533$3,279,899$2,838,725$4,079,353
71$5,742,226$3,391,243$2,884,452$4,314,504
72$6,277,007$3,506,488$2,930,154$4,568,451
73$6,864,731$3,625,775$2,975,784$4,842,962
74$7,510,749$3,749,253$3,021,288$5,139,981
75$8,220,953$3,877,074$3,066,609$5,461,646
76$9,001,838$4,009,398$3,111,688$5,810,306
77$9,860,557$4,146,390$3,156,460$6,188,547
78$10,804,991$4,288,221$3,200,860$6,599,215
79$11,843,826$4,435,070$3,244,815$7,045,438
80$12,986,629$4,587,121$3,288,249$7,530,661
81$14,243,942$4,744,567$3,331,082$8,058,672
82$15,627,380$4,907,607$3,373,229$8,633,641
83$17,149,742$5,076,448$3,414,601$9,260,159
84$18,825,128$5,251,306$3,455,102$9,943,277
85$20,669,075$5,432,405$3,494,633$10,688,556
86$22,698,705$5,619,976$3,533,087$11,502,119
87$24,932,880$5,814,263$3,570,353$12,390,704
88$27,392,387$6,015,515$3,606,312$13,361,733
89$30,100,129$6,223,993$3,640,842$14,423,375
90$33,081,342$6,439,969$3,673,811$15,584,628
91$36,363,836$6,663,725$3,705,080$16,855,399
92$39,978,253$6,895,552$3,734,506$18,246,596
93$43,958,357$7,135,756$3,761,934$19,770,234
94$48,341,354$7,384,654$3,787,204$21,439,545
95$53,168,244$7,642,573$3,810,147$23,269,102
96$58,484,203$7,909,857$3,830,584$25,274,955
97$64,339,012$8,186,861$3,848,330$27,474,784
98$70,787,529$8,473,955$3,863,187$29,888,061
99$77,890,202$8,771,524$3,874,948$32,536,234
100$85,713,641$9,079,967$3,883,397$35,442,932