Can I retire at age 62 with 2,520,000?

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 $2,520,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$208,099$206,246$204,437$202,672$200,948$194,750
2 years$103,019$101,101$99,241$97,438$95,690$89,499
3 years$67,997$66,070$64,216$62,430$60,709$54,721
4 years$50,490$48,569$46,733$44,977$43,299$37,558
5 years$39,988$38,079$36,266$34,547$32,915$27,437
6 years$32,989$31,094$29,309$27,627$26,044$20,835
7 years$27,992$26,113$24,356$22,714$21,181$16,240
8 years$24,246$22,383$20,655$19,054$17,572$12,895
9 years$21,333$19,489$17,791$16,230$14,798$10,381
10 years$19,005$17,178$15,510$13,990$12,609$8,444
11 years$17,101$15,293$13,655$12,176$10,844$6,925
12 years$15,516$13,726$12,118$10,680$9,397$5,716
13 years$14,175$12,404$10,827$9,429$8,194$4,742
14 years$13,027$11,275$9,728$8,370$7,183$3,951
15 years$12,033$10,300$8,783$7,464$6,325$3,302
16 years$11,165$9,450$7,963$6,683$5,590$2,768
17 years$10,399$8,703$7,246$6,005$4,956$2,326
18 years$9,719$8,042$6,615$5,412$4,407$1,958
19 years$9,111$7,453$6,056$4,890$3,928$1,651
20 years$8,565$6,926$5,558$4,429$3,508$1,394
21 years$8,071$6,451$5,112$4,019$3,140$1,178
22 years$7,623$6,022$4,711$3,655$2,814$996
23 years$7,214$5,632$4,350$3,328$2,526$844
24 years$6,840$5,277$4,023$3,036$2,271$715
25 years$6,497$4,952$3,726$2,772$2,043$606
26 years$6,180$4,654$3,456$2,535$1,840$514
27 years$5,888$4,380$3,209$2,320$1,659$436
28 years$5,617$4,128$2,983$2,126$1,497$370
29 years$5,364$3,894$2,776$1,949$1,352$314
30 years$5,130$3,677$2,586$1,789$1,222$267
31 years$4,910$3,476$2,411$1,643$1,104$227
32 years$4,705$3,289$2,249$1,510$999$192
33 years$4,513$3,115$2,100$1,389$904$164
34 years$4,332$2,952$1,962$1,278$819$139
35 years$4,162$2,800$1,835$1,176$741$118
36 years$4,002$2,658$1,716$1,083$672$100
37 years$3,851$2,524$1,606$998$609$85
38 years$3,708$2,399$1,504$920$552$73
39 years$3,573$2,281$1,409$848$501$62
40 years$3,445$2,170$1,321$782$454$52
41 years$3,324$2,066$1,239$722$412$45
42 years$3,208$1,968$1,162$666$374$38
43 years$3,099$1,875$1,090$615$339$32
44 years$2,994$1,787$1,023$568$308$27
45 years$2,895$1,704$961$524$280$23
46 years$2,800$1,626$903$484$254$20
47 years$2,709$1,551$848$447$230$17
48 years$2,622$1,481$797$414$209$14
49 years$2,540$1,414$749$382$190$12
50 years$2,460$1,351$704$353$173$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,520,000, adding $3,026 every year, while hoping to spend $43,929 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: 33/42/25 Blend
61$2,520,000$2,520,000$2,520,000$2,520,000
62$2,780,161$2,646,601$2,607,541$2,850,601
63$3,016,998$2,729,545$2,648,154$2,986,888
64$3,276,519$2,815,080$2,688,655$3,129,507
65$3,560,993$2,903,288$2,728,993$3,282,339
66$3,872,916$2,994,251$2,769,117$3,446,315
67$4,215,040$3,088,056$2,808,969$3,622,458
68$4,590,394$3,184,790$2,848,489$3,811,894
69$5,002,315$3,284,546$2,887,614$4,015,859
70$5,454,478$3,387,415$2,926,276$4,235,716
71$5,950,932$3,493,496$2,964,404$4,472,959
72$6,496,138$3,602,888$3,001,922$4,729,237
73$7,095,009$3,715,694$3,038,751$5,006,360
74$7,752,956$3,832,020$3,074,806$5,306,321
75$8,475,944$3,951,975$3,109,998$5,631,315
76$9,270,540$4,075,671$3,144,232$5,983,755
77$10,143,981$4,203,225$3,177,410$6,366,298
78$11,104,240$4,334,757$3,209,427$6,781,871
79$12,160,102$4,470,389$3,240,172$7,233,693
80$13,321,243$4,610,249$3,269,528$7,725,309
81$14,598,326$4,754,467$3,297,373$8,260,624
82$16,003,098$4,903,179$3,323,578$8,843,935
83$17,548,503$5,056,524$3,348,007$9,479,975
84$19,248,802$5,214,645$3,370,517$10,173,958
85$21,119,707$5,377,690$3,390,957$10,931,624
86$23,178,532$5,545,811$3,409,168$11,759,295
87$25,444,352$5,719,166$3,424,985$12,663,934
88$27,938,186$5,897,916$3,438,233$13,653,213
89$30,683,195$6,082,227$3,448,728$14,735,578
90$33,704,897$6,272,272$3,456,276$15,920,337
91$37,031,411$6,468,228$3,460,676$17,217,742
92$40,693,721$6,670,277$3,461,714$18,639,084
93$44,725,967$6,878,608$3,459,169$20,196,806
94$49,165,770$7,093,413$3,452,805$21,904,613
95$54,054,581$7,314,893$3,442,376$23,777,604
96$59,438,079$7,543,254$3,427,627$25,832,416
97$65,366,597$7,778,707$3,408,286$28,087,376
98$71,895,597$8,021,471$3,384,071$30,562,677
99$79,086,196$8,271,771$3,354,685$33,280,568
100$87,005,739$8,529,839$3,319,818$36,265,562