Can I retire at age 62 with 3,000,000?

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 $3,000,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$247,737$245,530$243,378$241,276$239,224$230,187
2 years$122,642$120,358$118,144$115,998$113,916$104,917
3 years$80,949$78,655$76,447$74,321$72,273$63,594
4 years$60,107$57,820$55,634$53,544$51,546$43,253
5 years$47,605$45,332$43,174$41,127$39,184$31,300
6 years$39,273$37,017$34,891$32,890$31,005$23,534
7 years$33,324$31,087$28,995$27,040$25,216$18,156
8 years$28,864$26,647$24,590$22,684$20,919$14,264
9 years$25,397$23,201$21,179$19,321$17,617$11,357
10 years$22,625$20,450$18,465$16,655$15,010$9,134
11 years$20,359$18,206$16,256$14,495$12,909$7,404
12 years$18,471$16,341$14,427$12,714$11,187$6,038
13 years$16,875$14,767$12,889$11,225$9,755$4,948
14 years$15,509$13,423$11,581$9,964$8,551$4,071
15 years$14,326$12,262$10,456$8,886$7,529$3,360
16 years$13,291$11,250$9,480$7,957$6,654$2,780
17 years$12,379$10,361$8,626$7,149$5,900$2,305
18 years$11,570$9,574$7,875$6,443$5,246$1,914
19 years$10,846$8,873$7,209$5,821$4,676$1,592
20 years$10,196$8,245$6,616$5,272$4,177$1,326
21 years$9,608$7,680$6,086$4,785$3,738$1,105
22 years$9,075$7,169$5,609$4,351$3,350$922
23 years$8,589$6,705$5,179$3,962$3,007$769
24 years$8,143$6,282$4,789$3,614$2,703$643
25 years$7,734$5,896$4,436$3,300$2,432$537
26 years$7,358$5,541$4,114$3,018$2,191$449
27 years$7,009$5,215$3,820$2,762$1,975$375
28 years$6,686$4,914$3,551$2,531$1,782$314
29 years$6,386$4,636$3,305$2,321$1,610$263
30 years$6,107$4,378$3,078$2,130$1,454$220
31 years$5,846$4,139$2,870$1,956$1,315$184
32 years$5,601$3,916$2,678$1,798$1,189$154
33 years$5,373$3,708$2,500$1,653$1,076$129
34 years$5,158$3,515$2,336$1,521$975$108
35 years$4,955$3,334$2,184$1,400$883$90
36 years$4,765$3,164$2,043$1,290$800$76
37 years$4,585$3,005$1,912$1,188$725$63
38 years$4,415$2,856$1,791$1,095$657$53
39 years$4,254$2,716$1,678$1,010$596$44
40 years$4,101$2,584$1,573$931$541$37
41 years$3,957$2,460$1,475$859$490$31
42 years$3,819$2,342$1,383$793$445$26
43 years$3,689$2,232$1,298$732$404$22
44 years$3,564$2,127$1,218$676$367$18
45 years$3,446$2,029$1,144$624$333$15
46 years$3,333$1,935$1,074$577$302$13
47 years$3,225$1,847$1,009$533$274$11
48 years$3,122$1,763$949$492$249$9
49 years$3,023$1,684$892$455$226$8
50 years$2,929$1,608$838$421$206$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $3,000,000, adding $2,783 every year, while hoping to spend $36,617 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: 50/22/28 Blend
61$3,000,000$3,000,000$3,000,000$3,000,000
62$3,308,871$3,149,871$3,103,371$3,447,964
63$3,607,415$3,265,254$3,168,373$3,660,877
64$3,935,184$3,385,064$3,234,326$3,888,301
65$4,295,120$3,509,479$3,301,223$4,134,786
66$4,690,463$3,638,684$3,369,055$4,402,160
67$5,124,784$3,772,874$3,437,812$4,692,432
68$5,602,016$3,912,249$3,507,483$5,007,813
69$6,126,494$4,057,021$3,578,056$5,350,734
70$6,702,989$4,207,408$3,649,514$5,723,874
71$7,336,762$4,363,640$3,721,841$6,130,176
72$8,033,608$4,525,954$3,795,018$6,572,885
73$8,799,909$4,694,598$3,869,025$7,055,568
74$9,642,700$4,869,834$3,943,837$7,582,155
75$10,569,728$5,051,929$4,019,429$8,156,969
76$11,589,534$5,241,166$4,095,772$8,784,773
77$12,711,522$5,437,840$4,172,837$9,470,809
78$13,946,059$5,642,256$4,250,589$10,220,848
79$15,304,565$5,854,734$4,328,991$11,041,248
80$16,799,622$6,075,607$4,408,004$11,939,006
81$18,445,096$6,305,225$4,487,585$12,921,830
82$20,256,264$6,543,948$4,567,686$13,998,209
83$22,249,958$6,792,157$4,648,259$15,177,489
84$24,444,727$7,050,246$4,729,249$16,469,968
85$26,861,009$7,318,628$4,810,599$17,886,985
86$29,521,323$7,597,732$4,892,245$19,441,030
87$32,450,485$7,888,008$4,974,123$21,145,860
88$35,675,838$8,189,924$5,056,159$23,016,629
89$39,227,513$8,503,969$5,138,279$25,070,030
90$43,138,709$8,830,654$5,220,402$27,324,452
91$47,446,012$9,170,510$5,302,440$29,800,150
92$52,189,735$9,524,096$5,384,302$32,519,439
93$57,414,302$9,891,990$5,465,889$35,506,902
94$63,168,662$10,274,799$5,547,098$38,789,621
95$69,506,757$10,673,156$5,627,818$42,397,432
96$76,488,028$11,087,721$5,707,931$46,363,204
97$84,177,972$11,519,185$5,787,312$50,723,151
98$92,648,768$11,968,268$5,865,830$55,517,171
99$101,979,952$12,435,722$5,943,344$60,789,222
100$112,259,168$12,922,334$6,019,707$66,587,735