Can I retire at age 62 with 2,410,000?

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 $2,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.2%
1 years$199,016$197,243$195,513$193,825$192,177$185,064
2 years$98,523$96,688$94,909$93,185$91,513$84,427
3 years$65,029$63,186$61,413$59,705$58,059$51,224
4 years$48,286$46,449$44,693$43,014$41,408$34,875
5 years$38,243$36,416$34,683$33,039$31,478$25,263
6 years$31,549$29,737$28,029$26,421$24,908$19,016
7 years$26,770$24,973$23,292$21,722$20,256$14,687
8 years$23,187$21,406$19,754$18,222$16,805$11,552
9 years$20,402$18,638$17,014$15,521$14,152$9,209
10 years$18,175$16,429$14,833$13,380$12,058$7,416
11 years$16,355$14,625$13,059$11,644$10,370$6,019
12 years$14,839$13,127$11,589$10,214$8,987$4,916
13 years$13,557$11,863$10,354$9,017$7,837$4,034
14 years$12,459$10,783$9,303$8,004$6,870$3,323
15 years$11,508$9,851$8,400$7,138$6,049$2,747
16 years$10,677$9,038$7,616$6,392$5,346$2,276
17 years$9,945$8,323$6,930$5,743$4,740$1,890
18 years$9,294$7,691$6,326$5,176$4,214$1,572
19 years$8,713$7,128$5,791$4,677$3,756$1,309
20 years$8,191$6,624$5,315$4,236$3,355$1,092
21 years$7,719$6,170$4,889$3,844$3,003$912
22 years$7,290$5,759$4,506$3,495$2,691$762
23 years$6,899$5,387$4,160$3,183$2,416$637
24 years$6,542$5,047$3,848$2,903$2,172$533
25 years$6,213$4,736$3,564$2,651$1,954$446
26 years$5,911$4,451$3,305$2,424$1,760$373
27 years$5,631$4,189$3,069$2,219$1,587$313
28 years$5,371$3,947$2,853$2,033$1,432$262
29 years$5,130$3,724$2,655$1,864$1,293$219
30 years$4,906$3,517$2,473$1,711$1,168$184
31 years$4,696$3,325$2,306$1,571$1,056$154
32 years$4,500$3,146$2,151$1,444$955$129
33 years$4,316$2,979$2,008$1,328$865$108
34 years$4,143$2,823$1,877$1,222$783$91
35 years$3,981$2,678$1,755$1,125$709$76
36 years$3,828$2,542$1,641$1,036$642$64
37 years$3,683$2,414$1,536$954$582$54
38 years$3,547$2,294$1,439$880$528$45
39 years$3,417$2,182$1,348$811$479$38
40 years$3,295$2,076$1,263$748$434$32
41 years$3,179$1,976$1,185$690$394$27
42 years$3,068$1,882$1,111$637$357$22
43 years$2,963$1,793$1,043$588$324$19
44 years$2,863$1,709$979$543$294$16
45 years$2,768$1,630$919$501$267$13
46 years$2,677$1,555$863$463$243$11
47 years$2,591$1,484$811$428$220$9
48 years$2,508$1,416$762$395$200$8
49 years$2,429$1,353$716$365$182$7
50 years$2,353$1,292$673$338$165$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,410,000, adding $5,140 every year, while hoping to spend $23,438 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: 35/49/16 Blend
61$2,410,000$2,410,000$2,410,000$2,410,000
62$2,661,122$2,533,392$2,496,037$2,740,983
63$2,907,618$2,632,590$2,554,716$2,898,717
64$3,178,472$2,735,864$2,614,576$3,066,218
65$3,476,143$2,843,387$2,675,631$3,246,447
66$3,803,340$2,955,344$2,737,895$3,440,544
67$4,163,049$3,071,924$2,801,382$3,649,761
68$4,558,559$3,193,328$2,866,108$3,875,473
69$4,993,494$3,319,762$2,932,084$4,119,186
70$5,471,845$3,451,446$2,999,325$4,382,553
71$5,998,013$3,588,607$3,067,842$4,667,391
72$6,576,843$3,731,481$3,137,647$4,975,694
73$7,213,676$3,880,318$3,208,753$5,309,649
74$7,914,394$4,035,377$3,281,169$5,671,662
75$8,685,480$4,196,929$3,354,906$6,064,375
76$9,534,078$4,365,257$3,429,974$6,490,688
77$10,468,057$4,540,657$3,506,381$6,953,793
78$11,496,089$4,723,439$3,584,135$7,457,193
79$12,627,729$4,913,927$3,663,243$8,004,742
80$13,873,506$5,112,459$3,743,711$8,600,676
81$15,245,022$5,319,387$3,825,543$9,249,651
82$16,755,060$5,535,083$3,908,744$9,956,790
83$18,417,705$5,759,931$3,993,317$10,727,723
84$20,248,480$5,994,336$4,079,261$11,568,647
85$22,264,487$6,238,721$4,166,579$12,486,373
86$24,484,572$6,493,526$4,255,267$13,488,399
87$26,929,503$6,759,213$4,345,323$14,582,971
88$29,622,164$7,036,266$4,436,742$15,779,163
89$32,587,770$7,325,188$4,529,518$17,086,958
90$35,854,108$7,626,509$4,623,643$18,517,346
91$39,451,798$7,940,779$4,719,106$20,082,417
92$43,414,581$8,268,576$4,815,896$21,795,480
93$47,779,636$8,610,504$4,913,996$23,671,184
94$52,587,935$8,967,195$5,013,391$25,725,653
95$57,884,627$9,339,310$5,114,062$27,976,638
96$63,719,461$9,727,538$5,215,985$30,443,679
97$70,147,263$10,132,604$5,319,138$33,148,290
98$77,228,445$10,555,263$5,423,490$36,114,155
99$85,029,582$10,996,307$5,529,013$39,367,355
100$93,624,036$11,456,563$5,635,671$42,936,605