Can I retire at age 62 with 2,580,000?

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 $2,580,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.6%
1 years$213,054$211,156$209,305$207,497$205,733$200,191
2 years$105,472$103,508$101,604$99,758$97,968$92,424
3 years$69,616$67,644$65,745$63,916$62,155$56,783
4 years$51,692$49,725$47,845$46,048$44,329$39,170
5 years$40,940$38,985$37,130$35,369$33,699$28,766
6 years$33,775$31,834$30,006$28,285$26,664$21,964
7 years$28,658$26,734$24,936$23,255$21,685$17,217
8 years$24,823$22,916$21,147$19,508$17,990$13,752
9 years$21,841$19,953$18,214$16,616$15,150$11,138
10 years$19,457$17,587$15,880$14,323$12,909$9,117
11 years$17,508$15,657$13,980$12,466$11,102$7,525
12 years$15,885$14,053$12,407$10,934$9,621$6,252
13 years$14,513$12,700$11,085$9,653$8,389$5,222
14 years$13,338$11,544$9,960$8,569$7,354$4,381
15 years$12,320$10,545$8,992$7,642$6,475$3,688
16 years$11,430$9,675$8,153$6,843$5,723$3,114
17 years$10,646$8,910$7,419$6,148$5,074$2,635
18 years$9,950$8,234$6,772$5,541$4,512$2,235
19 years$9,328$7,631$6,200$5,006$4,021$1,898
20 years$8,769$7,091$5,690$4,534$3,592$1,615
21 years$8,263$6,605$5,234$4,115$3,214$1,376
22 years$7,804$6,166$4,824$3,742$2,881$1,173
23 years$7,386$5,766$4,454$3,408$2,586$1,001
24 years$7,003$5,403$4,119$3,108$2,325$855
25 years$6,652$5,070$3,815$2,838$2,092$730
26 years$6,328$4,765$3,538$2,595$1,884$624
27 years$6,028$4,485$3,285$2,375$1,699$534
28 years$5,750$4,226$3,054$2,176$1,533$457
29 years$5,492$3,987$2,842$1,996$1,384$391
30 years$5,252$3,765$2,647$1,832$1,251$335
31 years$5,027$3,559$2,468$1,682$1,131$287
32 years$4,817$3,368$2,303$1,546$1,023$246
33 years$4,620$3,189$2,150$1,422$926$210
34 years$4,436$3,023$2,009$1,308$838$180
35 years$4,262$2,867$1,878$1,204$759$155
36 years$4,098$2,721$1,757$1,109$688$132
37 years$3,943$2,584$1,645$1,022$623$114
38 years$3,797$2,456$1,540$942$565$97
39 years$3,658$2,336$1,443$868$512$83
40 years$3,527$2,222$1,352$801$465$72
41 years$3,403$2,115$1,268$739$422$61
42 years$3,285$2,014$1,190$682$383$53
43 years$3,172$1,919$1,116$630$347$45
44 years$3,065$1,830$1,048$581$315$39
45 years$2,963$1,745$984$537$286$33
46 years$2,866$1,664$924$496$260$28
47 years$2,774$1,588$868$458$236$24
48 years$2,685$1,516$816$423$214$21
49 years$2,600$1,448$767$391$195$18
50 years$2,519$1,383$721$362$177$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,580,000, adding $5,417 every year, while hoping to spend $52,347 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: 84/6/10 Blend
61$2,580,000$2,580,000$2,580,000$2,580,000
62$2,848,748$2,712,008$2,672,018$3,083,362
63$3,083,623$2,789,199$2,705,833$3,314,771
64$3,340,701$2,868,419$2,739,028$3,561,321
65$3,622,192$2,949,710$2,771,524$3,830,533
66$3,930,528$3,033,118$2,803,242$4,124,653
67$4,268,389$3,118,688$2,834,098$4,446,155
68$4,638,725$3,206,464$2,864,001$4,797,766
69$5,044,787$3,296,493$2,892,857$5,182,486
70$5,490,153$3,388,820$2,920,566$5,603,622
71$5,978,768$3,483,491$2,947,024$6,064,816
72$6,514,972$3,580,552$2,972,119$6,570,080
73$7,103,550$3,680,050$2,995,736$7,123,831
74$7,749,771$3,782,031$3,017,752$7,730,939
75$8,459,438$3,886,541$3,038,037$8,396,765
76$9,238,946$3,993,627$3,056,457$9,127,218
77$10,095,339$4,103,334$3,072,868$9,928,805
78$11,036,374$4,215,709$3,087,120$10,808,698
79$12,070,602$4,330,796$3,099,056$11,774,796
80$13,207,439$4,448,641$3,108,510$12,835,803
81$14,457,261$4,569,287$3,115,308$14,001,308
82$15,831,499$4,692,780$3,119,269$15,281,876
83$17,342,747$4,819,161$3,120,199$16,689,149
84$19,004,879$4,948,472$3,117,897$18,235,953
85$20,833,184$5,080,754$3,112,154$19,936,420
86$22,844,505$5,216,047$3,102,747$21,806,122
87$25,057,400$5,354,389$3,089,445$23,862,216
88$27,492,317$5,495,816$3,072,004$26,123,609
89$30,171,787$5,640,364$3,050,169$28,611,132
90$33,120,632$5,788,066$3,023,673$31,347,739
91$36,366,207$5,938,951$2,992,236$34,358,723
92$39,938,649$6,093,049$2,955,565$37,671,954
93$43,871,168$6,250,385$2,913,353$41,318,145
94$48,200,355$6,410,981$2,865,278$45,331,135
95$52,966,530$6,574,859$2,811,004$49,748,216
96$58,214,122$6,742,033$2,750,179$54,610,478
97$63,992,086$6,912,516$2,682,434$59,963,201
98$70,354,366$7,086,317$2,607,383$65,856,283
99$77,360,405$7,263,439$2,524,623$72,344,705
100$85,075,700$7,443,882$2,433,732$79,489,056