Can I retire at age 62 with 2,670,000?

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 $2,670,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$220,486$218,522$216,606$214,736$212,910$210,162
2 years$109,152$107,119$105,149$103,238$101,385$98,621
3 years$72,045$70,003$68,038$66,146$64,323$61,628
4 years$53,495$51,460$49,514$47,654$45,876$43,271
5 years$42,368$40,345$38,425$36,603$34,874$32,367
6 years$34,953$32,945$31,053$29,272$27,595$25,188
7 years$29,658$27,667$25,805$24,066$22,442$20,137
8 years$25,689$23,716$21,885$20,188$18,618$16,414
9 years$22,603$20,649$18,850$17,196$15,679$13,575
10 years$20,136$18,201$16,433$14,823$13,359$11,354
11 years$18,119$16,203$14,468$12,901$11,489$9,582
12 years$16,439$14,543$12,840$11,316$9,956$8,143
13 years$15,019$13,143$11,471$9,990$8,682$6,962
14 years$13,803$11,946$10,307$8,868$7,611$5,980
15 years$12,750$10,913$9,306$7,909$6,701$5,158
16 years$11,829$10,013$8,437$7,081$5,922$4,464
17 years$11,018$9,221$7,678$6,362$5,251$3,874
18 years$10,297$8,521$7,009$5,734$4,669$3,370
19 years$9,653$7,897$6,416$5,181$4,162$2,938
20 years$9,074$7,338$5,888$4,692$3,717$2,566
21 years$8,552$6,835$5,416$4,259$3,327$2,245
22 years$8,077$6,381$4,992$3,872$2,982$1,966
23 years$7,644$5,968$4,609$3,526$2,677$1,724
24 years$7,248$5,591$4,263$3,216$2,406$1,513
25 years$6,884$5,247$3,948$2,937$2,165$1,330
26 years$6,548$4,931$3,662$2,686$1,950$1,169
27 years$6,238$4,641$3,400$2,458$1,758$1,029
28 years$5,951$4,373$3,161$2,252$1,586$906
29 years$5,684$4,126$2,941$2,065$1,432$798
30 years$5,435$3,896$2,740$1,896$1,294$703
31 years$5,203$3,683$2,554$1,741$1,170$620
32 years$4,985$3,485$2,383$1,600$1,059$546
33 years$4,782$3,300$2,225$1,471$958$482
34 years$4,590$3,128$2,079$1,354$867$425
35 years$4,410$2,967$1,944$1,246$786$375
36 years$4,241$2,816$1,818$1,148$712$331
37 years$4,080$2,675$1,702$1,057$645$293
38 years$3,929$2,542$1,594$975$585$258
39 years$3,786$2,417$1,493$899$530$228
40 years$3,650$2,300$1,400$829$481$202
41 years$3,522$2,189$1,312$765$436$178
42 years$3,399$2,085$1,231$706$396$157
43 years$3,283$1,986$1,155$652$359$139
44 years$3,172$1,893$1,084$602$326$123
45 years$3,067$1,806$1,018$556$296$109
46 years$2,966$1,722$956$513$269$96
47 years$2,870$1,644$898$474$244$85
48 years$2,779$1,569$844$438$222$75
49 years$2,691$1,498$794$405$201$66
50 years$2,607$1,431$746$374$183$59

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,670,000, adding $2,660 every year, while hoping to spend $23,026 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: 67/24/9 Blend
61$2,670,000$2,670,000$2,670,000$2,670,000
62$2,945,084$2,803,574$2,762,189$3,136,998
63$3,220,983$2,916,449$2,830,223$3,377,715
64$3,524,252$3,034,084$2,899,764$3,637,779
65$3,857,658$3,156,687$2,970,839$3,921,490
66$4,224,251$3,284,476$3,043,473$4,231,157
67$4,627,389$3,417,680$3,117,694$4,569,319
68$5,070,774$3,556,538$3,193,528$4,938,773
69$5,558,483$3,701,298$3,271,001$5,342,594
70$6,095,008$3,852,222$3,350,140$5,784,167
71$6,685,300$4,009,582$3,430,971$6,267,218
72$7,334,813$4,173,664$3,513,521$6,795,850
73$8,049,556$4,344,765$3,597,816$7,374,575
74$8,836,151$4,523,198$3,683,882$8,008,365
75$9,701,893$4,709,289$3,771,747$8,702,689
76$10,654,820$4,903,379$3,861,435$9,463,573
77$11,703,791$5,105,824$3,952,972$10,297,649
78$12,858,566$5,316,998$4,046,385$11,212,218
79$14,129,899$5,537,290$4,141,698$12,215,323
80$15,529,641$5,767,109$4,238,937$13,315,817
81$17,070,849$6,006,882$4,338,126$14,523,452
82$18,767,911$6,257,055$4,439,289$15,848,967
83$20,636,682$6,518,095$4,542,449$17,304,186
84$22,694,633$6,790,491$4,647,631$18,902,134
85$24,961,015$7,074,754$4,754,856$20,657,157
86$27,457,041$7,371,420$4,864,146$22,585,054
87$30,206,086$7,681,047$4,975,522$24,703,227
88$33,233,910$8,004,221$5,089,005$27,030,843
89$36,568,896$8,341,555$5,204,614$29,589,017
90$40,242,322$8,693,690$5,322,367$32,401,004
91$44,288,655$9,061,296$5,442,282$35,492,424
92$48,745,875$9,445,076$5,564,375$38,891,497
93$53,655,833$9,845,765$5,688,661$42,629,312
94$59,064,651$10,264,130$5,815,154$46,740,114
95$65,023,150$10,700,977$5,943,867$51,261,633
96$71,587,334$11,157,147$6,074,808$56,235,430
97$78,818,917$11,633,522$6,207,989$61,707,296
98$86,785,906$12,131,024$6,343,417$67,727,674
99$95,563,243$12,650,619$6,481,096$74,352,143
100$105,233,511$13,193,317$6,621,030$81,641,930