Can I retire at age 62 with 2,680,000?

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 $2,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$221,312$219,341$217,417$215,540$213,707$206,206
2 years$109,560$107,520$105,542$103,625$101,765$94,287
3 years$72,315$70,265$68,293$66,394$64,564$57,344
4 years$53,696$51,653$49,700$47,833$46,048$39,140
5 years$42,527$40,496$38,569$36,740$35,005$28,428
6 years$35,084$33,068$31,170$29,381$27,698$21,457
7 years$29,769$27,771$25,902$24,156$22,526$16,620
8 years$25,785$23,805$21,967$20,264$18,687$13,111
9 years$22,688$20,726$18,920$17,260$15,737$10,484
10 years$20,212$18,269$16,495$14,879$13,409$8,470
11 years$18,187$16,264$14,522$12,949$11,532$6,897
12 years$16,501$14,598$12,888$11,358$9,994$5,651
13 years$15,075$13,192$11,514$10,027$8,715$4,653
14 years$13,855$11,991$10,346$8,901$7,639$3,847
15 years$12,797$10,954$9,341$7,938$6,726$3,191
16 years$11,873$10,050$8,469$7,108$5,945$2,654
17 years$11,059$9,256$7,706$6,386$5,271$2,212
18 years$10,336$8,553$7,035$5,755$4,687$1,846
19 years$9,689$7,927$6,440$5,200$4,177$1,544
20 years$9,108$7,366$5,910$4,710$3,731$1,293
21 years$8,584$6,861$5,436$4,275$3,339$1,083
22 years$8,107$6,404$5,011$3,887$2,993$909
23 years$7,672$5,990$4,626$3,540$2,687$763
24 years$7,275$5,612$4,279$3,228$2,415$640
25 years$6,909$5,267$3,963$2,948$2,173$538
26 years$6,573$4,950$3,675$2,696$1,957$452
27 years$6,262$4,658$3,413$2,468$1,765$380
28 years$5,973$4,390$3,173$2,261$1,592$320
29 years$5,705$4,141$2,952$2,073$1,438$269
30 years$5,455$3,911$2,750$1,903$1,299$227
31 years$5,222$3,697$2,564$1,747$1,175$191
32 years$5,004$3,498$2,392$1,606$1,062$161
33 years$4,799$3,313$2,234$1,477$962$135
34 years$4,607$3,140$2,087$1,359$871$114
35 years$4,427$2,978$1,951$1,251$789$96
36 years$4,256$2,827$1,825$1,152$714$81
37 years$4,096$2,685$1,708$1,061$648$68
38 years$3,944$2,551$1,600$978$587$57
39 years$3,800$2,426$1,499$902$532$48
40 years$3,664$2,308$1,405$832$483$41
41 years$3,535$2,197$1,317$768$438$34
42 years$3,412$2,093$1,236$708$397$29
43 years$3,295$1,994$1,160$654$361$24
44 years$3,184$1,900$1,088$604$327$20
45 years$3,078$1,812$1,022$558$297$17
46 years$2,977$1,729$960$515$270$15
47 years$2,881$1,650$902$476$245$12
48 years$2,789$1,575$847$440$223$10
49 years$2,701$1,504$797$406$202$9
50 years$2,617$1,437$749$376$184$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,680,000, adding $5,290 every year, while hoping to spend $58,151 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: 81/6/13 Blend
61$2,680,000$2,680,000$2,680,000$2,680,000
62$2,958,817$2,816,777$2,775,237$3,190,763
63$3,198,744$2,892,926$2,806,335$3,419,952
64$3,461,194$2,970,859$2,836,526$3,663,357
65$3,748,405$3,050,599$2,865,718$3,928,848
66$4,062,837$3,132,173$2,893,814$4,218,612
67$4,407,202$3,215,606$2,920,713$4,535,057
68$4,784,486$3,300,920$2,946,306$4,880,835
69$5,197,977$3,388,138$2,970,481$5,258,867
70$5,651,296$3,477,283$2,993,118$5,672,373
71$6,148,433$3,568,374$3,014,091$6,124,896
72$6,693,779$3,661,431$3,033,270$6,620,341
73$7,292,175$3,756,471$3,050,515$7,163,011
74$7,948,949$3,853,510$3,065,679$7,757,645
75$8,669,973$3,952,563$3,078,610$8,409,464
76$9,461,713$4,053,642$3,089,147$9,124,219
77$10,331,295$4,156,757$3,097,120$9,908,248
78$11,286,564$4,261,916$3,102,351$10,768,533
79$12,336,168$4,369,124$3,104,654$11,712,767
80$13,489,631$4,478,384$3,103,833$12,749,425
81$14,757,444$4,589,696$3,099,683$13,887,845
82$16,151,168$4,703,056$3,091,987$15,138,319
83$17,683,539$4,818,458$3,080,521$16,512,182
84$19,368,588$4,935,890$3,065,046$18,021,928
85$21,221,773$5,055,338$3,045,314$19,681,322
86$23,260,128$5,176,783$3,021,066$21,505,530
87$25,502,417$5,300,202$2,992,028$23,511,267
88$27,969,317$5,425,565$2,957,914$25,716,947
89$30,683,609$5,552,839$2,918,426$28,142,864
90$33,670,393$5,681,985$2,873,249$30,811,379
91$36,957,327$5,812,956$2,822,057$33,747,131
92$40,574,883$5,945,699$2,764,505$36,977,275
93$44,556,639$6,080,157$2,700,234$40,531,728
94$48,939,593$6,216,261$2,628,868$44,443,463
95$53,764,510$6,353,937$2,550,014$48,748,810
96$59,076,311$6,493,101$2,463,260$53,487,806
97$64,924,492$6,633,660$2,368,177$58,704,569
98$71,363,594$6,775,512$2,264,314$64,447,716
99$78,453,712$6,918,544$2,151,200$70,770,821
100$86,261,070$7,062,632$2,028,345$77,732,923