Can I retire at age 62 with 2,490,000?

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 $2,490,000?

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$205,622$203,790$202,003$200,259$198,556$195,751
2 years$101,793$99,897$98,060$96,278$94,551$91,729
3 years$67,188$65,284$63,451$61,687$59,987$57,238
4 years$49,889$47,991$46,176$44,442$42,783$40,127
5 years$39,512$37,625$35,835$34,135$32,523$29,968
6 years$32,596$30,724$28,960$27,298$25,734$23,284
7 years$27,659$25,802$24,066$22,444$20,929$18,583
8 years$23,957$22,117$20,410$18,827$17,363$15,121
9 years$21,079$19,257$17,579$16,037$14,622$12,484
10 years$18,779$16,974$15,326$13,824$12,458$10,423
11 years$16,898$15,111$13,492$12,031$10,715$8,779
12 years$15,331$13,563$11,974$10,553$9,285$7,447
13 years$14,007$12,257$10,698$9,316$8,097$6,354
14 years$12,872$11,141$9,612$8,270$7,098$5,447
15 years$11,890$10,178$8,679$7,375$6,249$4,688
16 years$11,032$9,338$7,868$6,604$5,523$4,049
17 years$10,275$8,600$7,160$5,934$4,897$3,507
18 years$9,603$7,946$6,536$5,347$4,354$3,044
19 years$9,002$7,365$5,984$4,832$3,881$2,648
20 years$8,463$6,844$5,491$4,376$3,467$2,308
21 years$7,975$6,375$5,051$3,972$3,102$2,014
22 years$7,532$5,950$4,655$3,611$2,781$1,760
23 years$7,129$5,565$4,298$3,289$2,496$1,540
24 years$6,759$5,214$3,975$2,999$2,244$1,349
25 years$6,420$4,893$3,682$2,739$2,019$1,182
26 years$6,107$4,599$3,415$2,505$1,819$1,037
27 years$5,818$4,328$3,171$2,293$1,640$910
28 years$5,550$4,078$2,948$2,100$1,479$799
29 years$5,301$3,848$2,743$1,926$1,336$702
30 years$5,069$3,634$2,555$1,768$1,207$617
31 years$4,852$3,435$2,382$1,624$1,091$543
32 years$4,649$3,250$2,223$1,492$987$478
33 years$4,459$3,078$2,075$1,372$893$420
34 years$4,281$2,917$1,939$1,262$809$370
35 years$4,113$2,767$1,813$1,162$733$326
36 years$3,955$2,626$1,696$1,070$664$287
37 years$3,805$2,494$1,587$986$602$253
38 years$3,664$2,370$1,486$909$545$222
39 years$3,531$2,254$1,393$838$495$196
40 years$3,404$2,145$1,305$773$449$173
41 years$3,284$2,041$1,224$713$407$152
42 years$3,170$1,944$1,148$658$369$134
43 years$3,062$1,852$1,077$608$335$118
44 years$2,958$1,766$1,011$561$304$104
45 years$2,860$1,684$950$518$276$92
46 years$2,766$1,606$892$479$251$81
47 years$2,677$1,533$838$442$228$71
48 years$2,591$1,463$787$409$207$63
49 years$2,509$1,397$740$378$188$55
50 years$2,431$1,335$696$349$171$49

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,490,000, adding $5,766 every year, while hoping to spend $27,135 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: 37/50/13 Blend
61$2,490,000$2,490,000$2,490,000$2,490,000
62$2,749,928$2,617,958$2,579,363$2,840,528
63$3,001,549$2,717,366$2,636,900$3,005,313
64$3,277,926$2,820,736$2,695,455$3,180,149
65$3,581,555$2,928,233$2,755,034$3,368,400
66$3,915,187$3,040,030$2,815,641$3,571,280
67$4,281,852$3,156,307$2,877,280$3,790,119
68$4,684,886$3,277,252$2,939,955$4,026,377
69$5,127,968$3,403,061$3,003,667$4,281,657
70$5,615,149$3,533,939$3,068,418$4,557,718
71$6,150,893$3,670,100$3,134,208$4,856,493
72$6,740,117$3,811,768$3,201,037$5,180,104
73$7,388,239$3,959,175$3,268,902$5,530,883
74$8,101,230$4,112,564$3,337,800$5,911,390
75$8,885,666$4,272,191$3,407,728$6,324,441
76$9,748,796$4,438,320$3,478,678$6,773,128
77$10,698,603$4,611,228$3,550,645$7,260,853
78$11,743,888$4,791,205$3,623,618$7,791,353
79$12,894,343$4,978,553$3,697,587$8,368,737
80$14,160,650$5,173,586$3,772,541$8,997,527
81$15,554,580$5,376,636$3,848,465$9,682,691
82$17,089,102$5,588,045$3,925,343$10,429,696
83$18,778,505$5,808,175$4,003,157$11,244,555
84$20,638,537$6,037,399$4,081,887$12,133,883
85$22,686,547$6,276,111$4,161,510$13,104,957
86$24,941,655$6,524,721$4,242,001$14,165,784
87$27,424,928$6,783,657$4,323,332$15,325,177
88$30,159,581$7,053,366$4,405,473$16,592,830
89$33,171,193$7,334,316$4,488,392$17,979,415
90$36,487,953$7,626,996$4,572,051$19,496,677
91$40,140,921$7,931,915$4,656,412$21,157,543
92$44,164,325$8,249,609$4,741,432$22,976,243
93$48,595,881$8,580,634$4,827,064$24,968,442
94$53,477,149$8,925,573$4,913,259$27,151,385
95$58,853,927$9,285,036$4,999,963$29,544,059
96$64,776,684$9,659,659$5,087,117$32,167,367
97$71,301,031$10,050,108$5,174,661$35,044,325
98$78,488,251$10,457,078$5,262,527$38,200,276
99$86,405,875$10,881,296$5,350,643$41,663,129
100$95,128,318$11,323,524$5,438,934$45,463,614