Can I retire at age 62 with 2,460,000?

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 $2,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.8%
1 years$203,145$201,335$199,570$197,846$196,164$193,073
2 years$100,567$98,694$96,878$95,118$93,411$90,305
3 years$66,378$64,497$62,687$60,943$59,264$56,240
4 years$49,288$47,412$45,620$43,906$42,268$39,348
5 years$39,036$37,172$35,403$33,724$32,131$29,325
6 years$32,204$30,354$28,611$26,970$25,424$22,734
7 years$27,325$25,491$23,776$22,173$20,677$18,104
8 years$23,668$21,850$20,164$18,600$17,153$14,698
9 years$20,825$19,025$17,367$15,843$14,446$12,106
10 years$18,552$16,769$15,141$13,657$12,308$10,082
11 years$16,694$14,929$13,330$11,886$10,586$8,471
12 years$15,146$13,399$11,830$10,426$9,173$7,167
13 years$13,838$12,109$10,569$9,204$7,999$6,099
14 years$12,717$11,007$9,496$8,170$7,012$5,215
15 years$11,747$10,055$8,574$7,287$6,174$4,476
16 years$10,899$9,225$7,774$6,524$5,457$3,855
17 years$10,151$8,496$7,074$5,862$4,838$3,329
18 years$9,487$7,851$6,457$5,283$4,302$2,882
19 years$8,894$7,276$5,911$4,774$3,834$2,499
20 years$8,361$6,761$5,425$4,323$3,425$2,172
21 years$7,879$6,298$4,990$3,924$3,065$1,890
22 years$7,441$5,879$4,599$3,568$2,747$1,646
23 years$7,043$5,498$4,247$3,249$2,466$1,436
24 years$6,678$5,152$3,927$2,963$2,217$1,254
25 years$6,342$4,834$3,637$2,706$1,995$1,095
26 years$6,033$4,544$3,374$2,474$1,797$958
27 years$5,748$4,276$3,133$2,265$1,620$838
28 years$5,483$4,029$2,912$2,075$1,462$734
29 years$5,237$3,801$2,710$1,903$1,320$642
30 years$5,007$3,590$2,524$1,746$1,193$563
31 years$4,793$3,394$2,353$1,604$1,078$493
32 years$4,593$3,211$2,196$1,474$975$433
33 years$4,405$3,041$2,050$1,356$883$379
34 years$4,229$2,882$1,916$1,247$799$333
35 years$4,063$2,734$1,791$1,148$724$292
36 years$3,907$2,595$1,675$1,057$656$256
37 years$3,760$2,464$1,568$974$594$225
38 years$3,620$2,342$1,468$898$539$197
39 years$3,488$2,227$1,376$828$489$173
40 years$3,363$2,119$1,290$764$443$152
41 years$3,245$2,017$1,209$705$402$134
42 years$3,132$1,921$1,134$650$365$117
43 years$3,025$1,830$1,064$600$331$103
44 years$2,923$1,744$999$554$301$91
45 years$2,826$1,664$938$512$273$80
46 years$2,733$1,587$881$473$248$70
47 years$2,645$1,514$828$437$225$61
48 years$2,560$1,446$778$404$204$54
49 years$2,479$1,381$731$373$186$47
50 years$2,402$1,319$687$345$169$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,460,000, adding $5,569 every year, while hoping to spend $46,565 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: 51/36/13 Blend
61$2,460,000$2,460,000$2,460,000$2,460,000
62$2,716,664$2,586,284$2,548,154$2,845,436
63$2,944,219$2,663,468$2,583,973$3,011,379
64$3,193,424$2,742,872$2,619,430$3,186,303
65$3,466,438$2,824,557$2,654,466$3,375,416
66$3,765,639$2,908,585$2,689,015$3,580,070
67$4,093,646$2,995,017$2,723,008$3,801,750
68$4,453,342$3,083,917$2,756,374$4,042,093
69$4,847,905$3,175,351$2,789,034$4,302,897
70$5,280,834$3,269,386$2,820,909$4,586,145
71$5,755,982$3,366,089$2,851,913$4,894,015
72$6,277,595$3,465,530$2,881,955$5,228,910
73$6,850,350$3,567,781$2,910,940$5,593,470
74$7,479,397$3,672,914$2,938,768$5,990,606
75$8,170,412$3,781,004$2,965,334$6,423,521
76$8,929,647$3,892,125$2,990,525$6,895,742
77$9,763,987$4,006,356$3,014,224$7,411,153
78$10,681,021$4,123,775$3,036,308$7,974,032
79$11,689,108$4,244,462$3,056,646$8,589,090
80$12,797,455$4,368,499$3,075,103$9,261,514
81$14,016,210$4,495,970$3,091,533$9,997,020
82$15,356,551$4,626,960$3,105,787$10,801,903
83$16,830,793$4,761,555$3,117,705$11,683,094
84$18,452,506$4,899,843$3,127,120$12,648,232
85$20,236,640$5,041,914$3,133,857$13,705,729
86$22,199,668$5,187,859$3,137,732$14,864,854
87$24,359,741$5,337,770$3,138,552$16,135,816
88$26,736,855$5,491,741$3,136,114$17,529,863
89$29,353,046$5,649,868$3,130,206$19,059,387
90$32,232,593$5,812,248$3,120,604$20,738,040
91$35,402,248$5,978,979$3,107,075$22,580,863
92$38,891,489$6,150,161$3,089,374$24,604,428
93$42,732,796$6,325,894$3,067,243$26,826,994
94$46,961,960$6,506,281$3,040,414$29,268,678
95$51,618,416$6,691,425$3,008,604$31,951,646
96$56,745,620$6,881,431$2,971,518$34,900,320
97$62,391,456$7,076,404$2,928,847$38,141,611
98$68,608,688$7,276,450$2,880,266$41,705,169
99$75,455,456$7,481,678$2,825,437$45,623,668
100$82,995,828$7,692,196$2,764,005$49,933,107