Can I retire at age 62 with 2,760,000?

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 $2,760,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$227,918$225,888$223,907$221,974$220,086$217,879
2 years$112,831$110,729$108,693$106,718$104,803$102,579
3 years$74,473$72,363$70,331$68,375$66,491$64,321
4 years$55,298$53,194$51,183$49,261$47,422$45,321
5 years$43,796$41,705$39,720$37,837$36,050$34,025
6 years$36,131$34,055$32,100$30,258$28,525$26,578
7 years$30,658$28,600$26,675$24,877$23,198$21,331
8 years$26,555$24,515$22,623$20,869$19,245$17,457
9 years$23,365$21,345$19,485$17,776$16,207$14,498
10 years$20,815$18,814$16,987$15,323$13,809$12,178
11 years$18,730$16,749$14,955$13,335$11,877$10,321
12 years$16,993$15,033$13,273$11,697$10,292$8,811
13 years$15,525$13,586$11,858$10,327$8,975$7,567
14 years$14,268$12,349$10,655$9,167$7,867$6,530
15 years$13,179$11,281$9,620$8,175$6,927$5,659
16 years$12,228$10,350$8,722$7,320$6,122$4,921
17 years$11,389$9,532$7,936$6,577$5,428$4,292
18 years$10,644$8,808$7,245$5,927$4,827$3,753
19 years$9,979$8,163$6,632$5,356$4,302$3,288
20 years$9,380$7,586$6,087$4,851$3,843$2,887
21 years$8,840$7,066$5,599$4,402$3,439$2,538
22 years$8,349$6,596$5,160$4,003$3,082$2,235
23 years$7,901$6,169$4,764$3,645$2,767$1,971
24 years$7,492$5,780$4,406$3,325$2,487$1,739
25 years$7,116$5,424$4,081$3,036$2,238$1,536
26 years$6,769$5,098$3,785$2,776$2,016$1,358
27 years$6,449$4,798$3,515$2,541$1,817$1,202
28 years$6,151$4,521$3,267$2,328$1,640$1,064
29 years$5,875$4,265$3,041$2,135$1,481$943
30 years$5,618$4,028$2,832$1,959$1,338$835
31 years$5,378$3,807$2,640$1,800$1,210$741
32 years$5,153$3,603$2,464$1,654$1,094$657
33 years$4,943$3,412$2,300$1,521$990$583
34 years$4,745$3,234$2,149$1,399$897$517
35 years$4,559$3,067$2,009$1,288$812$459
36 years$4,384$2,911$1,880$1,186$736$408
37 years$4,218$2,765$1,759$1,093$667$362
38 years$4,062$2,628$1,648$1,008$605$322
39 years$3,914$2,499$1,544$929$548$286
40 years$3,773$2,377$1,447$857$497$254
41 years$3,640$2,263$1,357$791$451$226
42 years$3,514$2,155$1,273$730$409$201
43 years$3,394$2,053$1,194$673$372$178
44 years$3,279$1,957$1,121$622$337$159
45 years$3,170$1,866$1,052$574$306$141
46 years$3,066$1,780$989$530$278$125
47 years$2,967$1,699$929$490$252$112
48 years$2,872$1,622$873$453$229$99
49 years$2,782$1,549$820$419$208$88
50 years$2,695$1,480$771$387$189$78

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,760,000, adding $6,739 every year, while hoping to spend $52,085 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: 71/22/7 Blend
61$2,760,000$2,760,000$2,760,000$2,760,000
62$3,048,471$2,902,191$2,859,411$3,261,222
63$3,303,997$2,988,981$2,899,784$3,489,436
64$3,583,841$3,078,277$2,939,763$3,732,041
65$3,890,429$3,170,148$2,979,280$3,996,136
66$4,226,431$3,264,664$3,018,264$4,283,822
67$4,594,789$3,361,895$3,056,639$4,597,412
68$4,998,744$3,461,914$3,094,322$4,939,452
69$5,441,863$3,564,795$3,131,230$5,312,745
70$5,928,078$3,670,615$3,167,271$5,720,378
71$6,461,718$3,779,451$3,202,350$6,165,749
72$7,047,552$3,891,383$3,236,368$6,652,601
73$7,690,834$4,006,492$3,269,217$7,185,056
74$8,397,349$4,124,860$3,300,787$7,767,653
75$9,173,474$4,246,574$3,330,958$8,405,390
76$10,026,231$4,371,718$3,359,608$9,103,775
77$10,963,356$4,500,383$3,386,605$9,868,870
78$11,993,374$4,632,656$3,411,811$10,707,356
79$13,125,673$4,768,632$3,435,082$11,626,592
80$14,370,600$4,908,403$3,456,265$12,634,682
81$15,739,552$5,052,065$3,475,201$13,740,554
82$17,245,086$5,199,716$3,491,720$14,954,045
83$18,901,038$5,351,455$3,505,645$16,285,990
84$20,722,650$5,507,383$3,516,791$17,748,325
85$22,726,720$5,667,604$3,524,962$19,354,202
86$24,931,750$5,832,221$3,529,954$21,118,109
87$27,358,131$6,001,343$3,531,550$23,056,008
88$30,028,328$6,175,076$3,529,524$25,185,486
89$32,967,095$6,353,532$3,523,641$27,525,918
90$36,201,706$6,536,823$3,513,650$30,098,654
91$39,762,214$6,725,062$3,499,292$32,927,215
92$43,681,735$6,918,364$3,480,292$36,037,518
93$47,996,755$7,116,847$3,456,365$39,458,118
94$52,747,481$7,320,630$3,427,211$43,220,479
95$57,978,215$7,529,832$3,392,513$47,359,271
96$63,737,775$7,744,575$3,351,944$51,912,692
97$70,079,951$7,964,983$3,305,158$56,922,834
98$77,064,019$8,191,180$3,251,794$62,436,079
99$84,755,294$8,423,292$3,191,473$68,503,530
100$93,225,746$8,661,446$3,123,800$75,181,503