Can I retire at age 62 with 3,300,000?

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 $3,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$272,511$270,084$267,715$265,404$263,147$255,852
2 years$134,906$132,394$129,959$127,598$125,308$118,013
3 years$89,044$86,521$84,092$81,753$79,500$72,434
4 years$66,118$63,602$61,197$58,899$56,700$49,916
5 years$52,365$49,865$47,492$45,240$43,103$36,620
6 years$43,200$40,718$38,380$36,179$34,106$27,930
7 years$36,656$34,195$31,894$29,744$27,737$21,869
8 years$31,750$29,312$27,049$24,952$23,011$17,446
9 years$27,937$25,521$23,297$21,253$19,378$14,113
10 years$24,887$22,496$20,311$18,321$16,511$11,538
11 years$22,394$20,026$17,881$15,944$14,200$9,511
12 years$20,318$17,975$15,869$13,985$12,306$7,892
13 years$18,563$16,244$14,178$12,347$10,731$6,583
14 years$17,060$14,765$12,739$10,960$9,406$5,515
15 years$15,758$13,488$11,502$9,775$8,282$4,636
16 years$14,620$12,375$10,428$8,752$7,320$3,908
17 years$13,617$11,397$9,489$7,864$6,490$3,303
18 years$12,727$10,531$8,662$7,087$5,771$2,797
19 years$11,931$9,760$7,930$6,404$5,144$2,373
20 years$11,216$9,070$7,278$5,800$4,594$2,015
21 years$10,569$8,448$6,694$5,264$4,112$1,714
22 years$9,982$7,886$6,170$4,786$3,685$1,459
23 years$9,447$7,376$5,697$4,359$3,308$1,243
24 years$8,958$6,911$5,268$3,975$2,973$1,060
25 years$8,508$6,485$4,880$3,630$2,676$904
26 years$8,093$6,095$4,526$3,319$2,410$772
27 years$7,710$5,736$4,202$3,038$2,173$659
28 years$7,355$5,405$3,907$2,784$1,961$563
29 years$7,025$5,099$3,635$2,553$1,770$481
30 years$6,717$4,816$3,386$2,343$1,600$411
31 years$6,430$4,552$3,157$2,152$1,446$352
32 years$6,162$4,307$2,945$1,977$1,308$301
33 years$5,910$4,079$2,750$1,818$1,184$257
34 years$5,673$3,866$2,570$1,673$1,072$220
35 years$5,451$3,667$2,402$1,540$971$188
36 years$5,241$3,481$2,247$1,418$880$161
37 years$5,043$3,306$2,104$1,307$797$138
38 years$4,856$3,142$1,970$1,205$723$118
39 years$4,679$2,987$1,846$1,111$655$101
40 years$4,512$2,842$1,730$1,025$595$86
41 years$4,353$2,706$1,622$945$539$74
42 years$4,201$2,577$1,522$872$489$63
43 years$4,058$2,455$1,428$805$444$54
44 years$3,921$2,340$1,340$744$403$46
45 years$3,791$2,232$1,258$687$366$40
46 years$3,666$2,129$1,182$634$332$34
47 years$3,548$2,032$1,110$586$302$29
48 years$3,434$1,939$1,043$541$274$25
49 years$3,326$1,852$981$500$249$21
50 years$3,222$1,769$922$463$226$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $3,300,000, adding $3,055 every year, while hoping to spend $31,830 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: 54/30/16 Blend
61$3,300,000$3,300,000$3,300,000$3,300,000
62$3,639,751$3,464,851$3,413,701$3,820,585
63$3,977,139$3,600,762$3,494,193$4,080,220
64$4,347,873$3,742,266$3,576,315$4,359,028
65$4,755,322$3,889,603$3,660,088$4,661,795
66$5,203,196$4,043,024$3,745,531$4,990,812
67$5,695,582$4,202,792$3,832,667$5,348,596
68$6,236,984$4,369,181$3,921,513$5,737,919
69$6,832,363$4,542,478$4,012,091$6,161,825
70$7,487,185$4,722,981$4,104,417$6,623,665
71$8,207,474$4,911,003$4,198,511$7,127,124
72$8,999,866$5,106,871$4,294,390$7,676,257
73$9,871,670$5,310,926$4,392,071$8,275,525
74$10,830,945$5,523,525$4,491,569$8,929,837
75$11,886,564$5,745,041$4,592,900$9,644,595
76$13,048,309$5,975,864$4,696,078$10,425,744
77$14,326,956$6,216,400$4,801,115$11,279,827
78$15,734,378$6,467,076$4,908,025$12,214,045
79$17,283,657$6,728,336$5,016,817$13,236,327
80$18,989,212$7,000,646$5,127,501$14,355,398
81$20,866,925$7,284,491$5,240,086$15,580,867
82$22,934,301$7,580,380$5,354,578$16,923,310
83$25,210,625$7,888,845$5,470,983$18,394,372
84$27,717,152$8,210,441$5,589,303$20,006,877
85$30,477,298$8,545,749$5,709,542$21,774,942
86$33,516,868$8,895,376$5,831,697$23,714,115
87$36,864,297$9,259,959$5,955,767$25,841,517
88$40,550,918$9,640,160$6,081,749$28,176,002
89$44,611,258$10,036,674$6,209,634$30,738,334
90$49,083,364$10,450,228$6,339,414$33,551,380
91$54,009,160$10,881,582$6,471,077$36,640,326
92$59,434,844$11,331,530$6,604,608$40,032,913
93$65,411,326$11,800,903$6,739,990$43,759,693
94$71,994,705$12,290,570$6,877,203$47,854,321
95$79,246,797$12,801,440$7,016,222$52,353,865
96$87,235,725$13,334,466$7,157,020$57,299,158
97$96,036,555$13,890,640$7,299,566$62,735,179
98$105,732,007$14,471,006$7,443,825$68,711,474
99$116,413,237$15,076,650$7,589,759$75,282,625
100$128,180,694$15,708,713$7,737,322$82,508,760