Can I retire at age 62 with 2,770,000?

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 $2,770,000?

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$228,744$226,706$224,719$222,778$220,884$218,033
2 years$113,240$111,131$109,087$107,105$105,183$102,315
3 years$74,743$72,625$70,586$68,623$66,732$63,936
4 years$55,499$53,387$51,369$49,439$47,594$44,891
5 years$43,955$41,856$39,864$37,974$36,180$33,579
6 years$36,262$34,179$32,216$30,368$28,628$26,131
7 years$30,769$28,703$26,772$24,967$23,282$20,891
8 years$26,651$24,604$22,705$20,944$19,315$17,029
9 years$23,450$21,422$19,556$17,840$16,266$14,084
10 years$20,890$18,883$17,049$15,378$13,859$11,780
11 years$18,798$16,810$15,010$13,384$11,920$9,940
12 years$17,055$15,088$13,321$11,739$10,329$8,448
13 years$15,582$13,635$11,901$10,364$9,007$7,222
14 years$14,320$12,394$10,693$9,200$7,896$6,204
15 years$13,227$11,322$9,655$8,205$6,952$5,351
16 years$12,272$10,388$8,753$7,347$6,144$4,631
17 years$11,430$9,567$7,965$6,601$5,448$4,019
18 years$10,683$8,840$7,271$5,949$4,844$3,496
19 years$10,015$8,193$6,656$5,375$4,318$3,048
20 years$9,414$7,613$6,109$4,868$3,857$2,662
21 years$8,872$7,091$5,619$4,418$3,451$2,329
22 years$8,379$6,620$5,179$4,017$3,093$2,040
23 years$7,930$6,191$4,782$3,659$2,777$1,789
24 years$7,519$5,801$4,422$3,337$2,496$1,570
25 years$7,141$5,444$4,096$3,047$2,246$1,379
26 years$6,794$5,116$3,799$2,786$2,023$1,213
27 years$6,472$4,815$3,527$2,550$1,824$1,067
28 years$6,174$4,537$3,279$2,337$1,646$939
29 years$5,897$4,280$3,052$2,143$1,486$828
30 years$5,639$4,042$2,842$1,967$1,343$729
31 years$5,398$3,821$2,650$1,806$1,214$643
32 years$5,172$3,616$2,472$1,660$1,098$567
33 years$4,961$3,424$2,309$1,526$994$500
34 years$4,762$3,245$2,157$1,404$900$441
35 years$4,575$3,078$2,017$1,293$815$389
36 years$4,399$2,922$1,886$1,191$738$344
37 years$4,233$2,775$1,766$1,097$669$304
38 years$4,076$2,637$1,654$1,011$607$268
39 years$3,928$2,508$1,549$932$550$237
40 years$3,787$2,386$1,452$860$499$209
41 years$3,653$2,271$1,362$793$453$185
42 years$3,527$2,163$1,277$732$411$163
43 years$3,406$2,061$1,198$676$373$144
44 years$3,291$1,964$1,125$624$338$127
45 years$3,182$1,873$1,056$576$307$113
46 years$3,077$1,787$992$532$279$100
47 years$2,978$1,705$932$492$253$88
48 years$2,883$1,628$876$455$230$78
49 years$2,792$1,555$823$420$209$69
50 years$2,704$1,485$774$388$190$61

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,770,000, adding $5,358 every year, while hoping to spend $37,402 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: 68/16/16 Blend
61$2,770,000$2,770,000$2,770,000$2,770,000
62$3,058,067$2,911,257$2,868,322$3,254,068
63$3,330,194$3,014,113$2,924,615$3,488,303
64$3,628,825$3,120,755$2,981,541$3,739,500
65$3,956,623$3,231,330$3,039,080$4,013,320
66$4,316,523$3,345,990$3,097,214$4,311,982
67$4,711,757$3,464,892$3,155,919$4,637,931
68$5,145,885$3,588,201$3,215,171$4,993,861
69$5,622,831$3,716,088$3,274,945$5,382,735
70$6,146,915$3,848,732$3,335,211$5,807,816
71$6,722,898$3,986,318$3,395,939$6,272,698
72$7,356,025$4,129,039$3,457,094$6,781,337
73$8,052,074$4,277,096$3,518,641$7,338,093
74$8,817,411$4,430,698$3,580,540$7,947,763
75$9,659,048$4,590,064$3,642,750$8,615,633
76$10,584,714$4,755,420$3,705,225$9,347,524
77$11,602,922$4,927,003$3,767,917$10,149,848
78$12,723,052$5,105,058$3,830,774$11,029,667
79$13,955,438$5,289,841$3,893,741$11,994,760
80$15,311,470$5,481,620$3,956,758$13,053,694
81$16,803,693$5,680,672$4,019,762$14,215,909
82$18,445,931$5,887,287$4,082,686$15,491,801
83$20,253,419$6,101,767$4,145,458$16,892,825
84$22,242,939$6,324,425$4,208,003$18,431,597
85$24,432,986$6,555,589$4,270,238$20,122,019
86$26,843,937$6,795,600$4,332,078$21,979,404
87$29,498,248$7,044,813$4,393,431$24,020,622
88$32,420,659$7,303,599$4,454,201$26,264,262
89$35,638,434$7,572,343$4,514,285$28,730,800
90$39,181,615$7,851,448$4,573,574$31,442,799
91$43,083,304$8,141,333$4,631,953$34,425,115
92$47,379,978$8,442,436$4,689,300$37,705,137
93$52,111,831$8,755,211$4,745,487$41,313,041
94$57,323,155$9,080,133$4,800,378$45,282,072
95$63,062,755$9,417,698$4,853,829$49,648,866
96$69,384,413$9,768,422$4,905,689$54,453,783
97$76,347,391$10,132,843$4,955,798$59,741,299
98$84,016,995$10,511,522$5,003,987$65,560,416
99$92,465,186$10,905,045$5,050,079$71,965,130
100$101,771,265$11,314,021$5,093,886$79,014,936