Can I retire at age 62 with 2,710,000?

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 $2,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$223,789$221,796$219,851$217,953$216,099$214,378
2 years$110,787$108,723$106,724$104,785$102,904$101,169
3 years$73,124$71,052$69,057$67,137$65,287$63,592
4 years$54,297$52,231$50,256$48,368$46,563$44,921
5 years$43,003$40,950$39,001$37,151$35,397$33,812
6 years$35,476$33,438$31,518$29,710$28,008$26,484
7 years$30,102$28,081$26,192$24,426$22,778$21,314
8 years$26,074$24,071$22,213$20,491$18,897$17,493
9 years$22,942$20,958$19,132$17,454$15,914$14,570
10 years$20,438$18,474$16,680$15,045$13,559$12,275
11 years$18,391$16,446$14,684$13,094$11,661$10,436
12 years$16,686$14,761$13,032$11,485$10,106$8,937
13 years$15,244$13,340$11,643$10,140$8,812$7,700
14 years$14,010$12,125$10,462$9,001$7,725$6,667
15 years$12,941$11,077$9,445$8,027$6,801$5,797
16 years$12,006$10,163$8,564$7,187$6,011$5,058
17 years$11,183$9,359$7,793$6,458$5,330$4,427
18 years$10,451$8,649$7,114$5,820$4,739$3,885
19 years$9,798$8,015$6,512$5,259$4,224$3,416
20 years$9,210$7,448$5,977$4,763$3,773$3,010
21 years$8,680$6,938$5,497$4,322$3,376$2,657
22 years$8,198$6,476$5,067$3,930$3,026$2,348
23 years$7,758$6,057$4,678$3,579$2,717$2,078
24 years$7,356$5,675$4,326$3,264$2,442$1,841
25 years$6,987$5,326$4,007$2,981$2,197$1,633
26 years$6,646$5,005$3,716$2,726$1,979$1,449
27 years$6,332$4,711$3,451$2,495$1,784$1,287
28 years$6,040$4,439$3,208$2,286$1,610$1,144
29 years$5,769$4,187$2,985$2,096$1,454$1,018
30 years$5,516$3,955$2,781$1,924$1,314$906
31 years$5,281$3,738$2,593$1,767$1,188$806
32 years$5,060$3,537$2,419$1,624$1,074$718
33 years$4,853$3,350$2,259$1,493$972$640
34 years$4,659$3,175$2,110$1,374$880$570
35 years$4,476$3,011$1,973$1,265$797$508
36 years$4,304$2,858$1,846$1,165$722$453
37 years$4,142$2,715$1,727$1,073$655$404
38 years$3,988$2,580$1,618$989$594$361
39 years$3,843$2,453$1,516$912$538$322
40 years$3,705$2,334$1,421$841$488$287
41 years$3,574$2,222$1,332$776$443$256
42 years$3,450$2,116$1,250$716$402$229
43 years$3,332$2,016$1,172$661$365$204
44 years$3,220$1,922$1,101$611$331$183
45 years$3,113$1,833$1,033$564$301$163
46 years$3,011$1,748$971$521$273$146
47 years$2,913$1,668$912$481$248$130
48 years$2,820$1,593$857$445$225$116
49 years$2,731$1,521$805$411$204$104
50 years$2,646$1,453$757$380$186$93

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,710,000, adding $4,000 every year, while hoping to spend $20,891 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: 44/48/8 Blend
61$2,710,000$2,710,000$2,710,000$2,710,000
62$2,990,546$2,846,916$2,804,911$3,115,152
63$3,273,354$2,964,187$2,876,648$3,319,132
64$3,584,308$3,086,504$2,950,087$3,537,619
65$3,926,257$3,214,093$3,025,265$3,773,933
66$4,302,340$3,347,188$3,102,216$4,029,720
67$4,716,015$3,486,036$3,180,977$4,306,782
68$5,171,092$3,630,896$3,261,583$4,607,100
69$5,671,770$3,782,036$3,344,072$4,932,849
70$6,222,673$3,939,738$3,428,481$5,286,416
71$6,828,898$4,104,298$3,514,848$5,670,425
72$7,496,061$4,276,024$3,603,211$6,087,756
73$8,230,349$4,455,239$3,693,608$6,541,575
74$9,038,579$4,642,280$3,786,079$7,035,363
75$9,928,264$4,837,502$3,880,662$7,572,941
76$10,907,682$5,041,274$3,977,399$8,158,515
77$11,985,952$5,253,983$4,076,328$8,796,703
78$13,173,124$5,476,033$4,177,490$9,492,587
79$14,480,273$5,707,850$4,280,927$10,251,753
80$15,919,602$5,949,875$4,386,678$11,080,345
81$17,504,555$6,202,573$4,494,786$11,985,118
82$19,249,950$6,466,429$4,605,292$12,973,506
83$21,172,114$6,741,953$4,718,238$14,053,684
84$23,289,036$7,029,675$4,833,665$15,234,647
85$25,620,541$7,330,153$4,951,617$16,526,292
86$28,188,474$7,643,968$5,072,134$17,939,507
87$31,016,908$7,971,732$5,195,260$19,486,275
88$34,132,368$8,314,082$5,321,037$21,179,783
89$37,564,085$8,671,687$5,449,506$23,034,545
90$41,344,268$9,045,247$5,580,712$25,066,535
91$45,508,413$9,435,493$5,714,695$27,293,335
92$50,095,631$9,843,193$5,851,498$29,734,300
93$55,149,025$10,269,149$5,991,162$32,410,737
94$60,716,090$10,714,202$6,133,731$35,346,102
95$66,849,164$11,179,230$6,279,243$38,566,219
96$73,605,923$11,665,157$6,427,742$42,099,522
97$81,049,923$12,172,945$6,579,267$45,977,317
98$89,251,200$12,703,605$6,733,858$50,234,074
99$98,286,935$13,258,194$6,891,555$54,907,754
100$108,242,177$13,837,819$7,052,396$60,040,155