Can I retire at age 62 with 2,530,000?

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 $2,530,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.2%
1 years$208,925$207,064$205,248$203,476$201,746$195,837
2 years$103,428$101,502$99,635$97,825$96,069$90,164
3 years$68,267$66,333$64,471$62,677$60,950$55,234
4 years$50,690$48,762$46,918$45,156$43,470$37,987
5 years$40,147$38,230$36,410$34,684$33,045$27,809
6 years$33,120$31,217$29,425$27,737$26,148$21,164
7 years$28,103$26,216$24,452$22,804$21,265$16,533
8 years$24,342$22,472$20,737$19,130$17,641$13,159
9 years$21,418$19,566$17,861$16,294$14,857$10,619
10 years$19,080$17,247$15,572$14,046$12,659$8,660
11 years$17,169$15,354$13,709$12,224$10,887$7,120
12 years$15,577$13,781$12,167$10,722$9,434$5,893
13 years$14,232$12,454$10,870$9,466$8,227$4,902
14 years$13,079$11,320$9,767$8,403$7,212$4,095
15 years$12,081$10,341$8,818$7,494$6,350$3,433
16 years$11,209$9,488$7,995$6,710$5,612$2,886
17 years$10,440$8,738$7,275$6,029$4,976$2,432
18 years$9,757$8,074$6,641$5,433$4,424$2,053
19 years$9,147$7,483$6,080$4,909$3,943$1,736
20 years$8,599$6,954$5,580$4,446$3,522$1,470
21 years$8,103$6,477$5,132$4,035$3,152$1,247
22 years$7,653$6,046$4,730$3,669$2,825$1,058
23 years$7,243$5,655$4,367$3,342$2,536$899
24 years$6,868$5,298$4,039$3,048$2,280$764
25 years$6,523$4,972$3,741$2,783$2,051$649
26 years$6,205$4,673$3,470$2,545$1,848$553
27 years$5,911$4,398$3,222$2,329$1,666$470
28 years$5,639$4,144$2,995$2,134$1,503$400
29 years$5,386$3,909$2,787$1,957$1,357$341
30 years$5,150$3,692$2,596$1,796$1,226$291
31 years$4,930$3,490$2,420$1,650$1,109$248
32 years$4,724$3,302$2,258$1,516$1,003$211
33 years$4,531$3,127$2,109$1,394$908$180
34 years$4,350$2,964$1,970$1,283$822$153
35 years$4,179$2,811$1,842$1,181$744$131
36 years$4,018$2,668$1,723$1,088$674$112
37 years$3,867$2,534$1,613$1,002$611$95
38 years$3,723$2,409$1,510$924$554$81
39 years$3,587$2,290$1,415$852$503$69
40 years$3,459$2,179$1,326$785$456$59
41 years$3,337$2,074$1,244$725$414$50
42 years$3,221$1,975$1,167$669$375$43
43 years$3,111$1,882$1,095$617$341$37
44 years$3,006$1,794$1,027$570$309$31
45 years$2,906$1,711$965$526$281$27
46 years$2,811$1,632$906$486$255$23
47 years$2,720$1,558$851$449$231$19
48 years$2,633$1,487$800$415$210$17
49 years$2,550$1,420$752$384$191$14
50 years$2,470$1,356$707$355$173$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,530,000, adding $2,059 every year, while hoping to spend $22,340 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: 37/37/26 Blend
61$2,530,000$2,530,000$2,530,000$2,530,000
62$2,790,184$2,656,094$2,616,879$2,871,624
63$3,051,013$2,762,473$2,680,775$3,038,105
64$3,337,698$2,873,316$2,746,062$3,215,611
65$3,652,853$2,988,818$2,812,765$3,406,915
66$3,999,356$3,109,182$2,880,905$3,613,277
67$4,380,381$3,234,623$2,950,506$3,836,079
68$4,799,424$3,365,363$3,021,592$4,076,840
69$5,260,334$3,501,635$3,094,184$4,337,225
70$5,767,355$3,643,682$3,168,306$4,619,066
71$6,325,162$3,791,759$3,243,981$4,924,375
72$6,938,906$3,946,133$3,321,232$5,255,359
73$7,614,262$4,107,080$3,400,080$5,614,449
74$8,357,483$4,274,894$3,480,550$6,004,312
75$9,175,459$4,449,877$3,562,661$6,427,882
76$10,075,783$4,632,348$3,646,437$6,888,384
77$11,066,819$4,822,639$3,731,899$7,389,364
78$12,157,785$5,021,099$3,819,068$7,934,721
79$13,358,837$5,228,091$3,907,965$8,528,742
80$14,681,167$5,443,996$3,998,611$9,176,145
81$16,137,106$5,669,212$4,091,024$9,882,116
82$17,740,242$5,904,154$4,185,225$10,652,365
83$19,505,549$6,149,259$4,281,231$11,493,169
84$21,449,524$6,404,983$4,379,062$12,411,437
85$23,590,349$6,671,800$4,478,734$13,414,772
86$25,948,056$6,950,210$4,580,263$14,511,541
87$28,544,722$7,240,734$4,683,666$15,710,950
88$31,404,671$7,543,918$4,788,957$17,023,135
89$34,554,710$7,860,332$4,896,149$18,459,250
90$38,024,375$8,190,573$5,005,255$20,031,574
91$41,846,217$8,535,267$5,116,286$21,753,625
92$46,056,102$8,895,066$5,229,252$23,640,283
93$50,693,555$9,270,654$5,344,163$25,707,931
94$55,802,129$9,662,748$5,461,024$27,974,609
95$61,429,820$10,072,096$5,579,842$30,460,178
96$67,629,515$10,499,483$5,700,620$33,186,508
97$74,459,495$10,945,727$5,823,361$36,177,681
98$81,983,985$11,411,689$5,948,064$39,460,218
99$90,273,755$11,898,265$6,074,728$43,063,323
100$99,406,795$12,406,397$6,203,349$47,019,159