Can I retire at age 62 with 2,450,000?

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 $2,450,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$202,319$200,517$198,758$197,042$195,366$192,606
2 years$100,158$98,292$96,485$94,732$93,032$90,256
3 years$66,109$64,235$62,432$60,696$59,023$56,318
4 years$49,087$47,220$45,434$43,728$42,096$39,483
5 years$38,877$37,021$35,259$33,587$32,001$29,487
6 years$32,073$30,230$28,495$26,860$25,321$22,910
7 years$27,214$25,387$23,679$22,083$20,593$18,285
8 years$23,572$21,762$20,082$18,525$17,084$14,878
9 years$20,741$18,947$17,296$15,779$14,387$12,284
10 years$18,477$16,701$15,079$13,602$12,258$10,255
11 years$16,626$14,868$13,276$11,838$10,543$8,638
12 years$15,085$13,345$11,782$10,383$9,136$7,327
13 years$13,782$12,060$10,526$9,167$7,967$6,252
14 years$12,666$10,962$9,458$8,137$6,984$5,360
15 years$11,699$10,014$8,539$7,257$6,149$4,613
16 years$10,854$9,188$7,742$6,498$5,434$3,984
17 years$10,110$8,462$7,045$5,838$4,819$3,450
18 years$9,449$7,819$6,431$5,261$4,284$2,995
19 years$8,858$7,246$5,887$4,754$3,819$2,606
20 years$8,327$6,734$5,403$4,306$3,411$2,271
21 years$7,847$6,272$4,970$3,908$3,052$1,982
22 years$7,411$5,855$4,580$3,553$2,736$1,732
23 years$7,014$5,476$4,229$3,236$2,456$1,515
24 years$6,650$5,131$3,911$2,951$2,208$1,327
25 years$6,316$4,815$3,623$2,695$1,987$1,163
26 years$6,009$4,525$3,360$2,464$1,789$1,020
27 years$5,724$4,259$3,120$2,256$1,613$895
28 years$5,461$4,013$2,900$2,067$1,456$786
29 years$5,215$3,786$2,699$1,895$1,314$691
30 years$4,987$3,575$2,514$1,739$1,188$607
31 years$4,774$3,380$2,344$1,597$1,074$534
32 years$4,575$3,198$2,187$1,468$971$470
33 years$4,388$3,029$2,042$1,350$879$413
34 years$4,212$2,870$1,908$1,242$796$364
35 years$4,047$2,722$1,784$1,143$721$320
36 years$3,891$2,584$1,669$1,053$653$282
37 years$3,744$2,454$1,562$970$592$248
38 years$3,605$2,332$1,462$894$537$219
39 years$3,474$2,218$1,370$825$487$193
40 years$3,350$2,110$1,284$761$441$170
41 years$3,231$2,009$1,204$702$400$150
42 years$3,119$1,913$1,130$648$363$132
43 years$3,013$1,823$1,060$598$330$116
44 years$2,911$1,737$995$552$299$102
45 years$2,814$1,657$934$510$272$90
46 years$2,722$1,580$877$471$247$80
47 years$2,634$1,508$824$435$224$70
48 years$2,550$1,440$775$402$203$62
49 years$2,469$1,375$728$372$185$55
50 years$2,392$1,313$685$343$168$48

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,450,000, adding $3,183 every year, while hoping to spend $41,389 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: 44/44/12 Blend
61$2,450,000$2,450,000$2,450,000$2,450,000
62$2,703,183$2,573,333$2,535,358$2,812,671
63$2,934,870$2,655,389$2,576,255$2,971,291
64$3,188,802$2,740,078$2,617,135$3,138,675
65$3,467,205$2,827,487$2,657,953$3,319,174
66$3,772,528$2,917,702$2,698,663$3,514,011
67$4,107,472$3,010,815$2,739,214$3,724,533
68$4,475,009$3,106,921$2,779,554$3,952,216
69$4,878,416$3,206,115$2,819,624$4,198,688
70$5,321,299$3,308,500$2,859,367$4,465,737
71$5,807,633$3,414,178$2,898,717$4,755,328
72$6,341,795$3,523,256$2,937,607$5,069,627
73$6,928,608$3,635,845$2,975,967$5,411,014
74$7,573,384$3,752,059$3,013,719$5,782,109
75$8,281,976$3,872,017$3,050,786$6,185,793
76$9,060,832$3,995,840$3,087,081$6,625,240
77$9,917,055$4,123,655$3,122,517$7,103,940
78$10,858,471$4,255,590$3,156,998$7,625,738
79$11,893,703$4,391,782$3,190,425$8,194,863
80$13,032,250$4,532,369$3,222,694$8,815,973
81$14,284,579$4,677,494$3,253,693$9,494,197
82$15,662,221$4,827,306$3,283,307$10,235,178
83$17,177,881$4,981,959$3,311,412$11,045,135
84$18,845,560$5,141,610$3,337,879$11,930,912
85$20,680,682$5,306,423$3,362,573$12,900,047
86$22,700,241$5,476,567$3,385,349$13,960,840
87$24,922,965$5,652,218$3,406,057$15,122,436
88$27,369,486$5,833,556$3,424,538$16,394,901
89$30,062,540$6,020,766$3,440,627$17,789,326
90$33,027,179$6,214,044$3,454,148$19,317,925
91$36,291,006$6,413,587$3,464,917$20,994,152
92$39,884,438$6,619,602$3,472,741$22,832,826
93$43,840,990$6,832,302$3,477,417$24,850,273
94$48,197,593$7,051,906$3,478,732$27,064,474
95$52,994,941$7,278,644$3,476,464$29,495,240
96$58,277,876$7,512,749$3,470,377$32,164,392
97$64,095,811$7,754,465$3,460,226$35,095,972
98$70,503,193$8,004,043$3,445,752$38,316,464
99$77,560,021$8,261,743$3,426,687$41,855,047
100$85,332,408$8,527,834$3,402,747$45,743,869