Can I retire at age 62 with 3,700,000?

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 $3,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$305,543$302,821$300,166$297,574$295,043$285,484
2 years$151,259$148,442$145,711$143,064$140,497$130,956
3 years$99,837$97,008$94,285$91,663$89,137$79,914
4 years$74,132$71,311$68,615$66,038$63,573$54,738
5 years$58,713$55,909$53,248$50,723$48,327$39,904
6 years$48,436$45,654$43,033$40,564$38,240$30,236
7 years$41,099$38,340$35,760$33,350$31,099$23,513
8 years$35,599$32,864$30,328$27,976$25,800$18,626
9 years$31,323$28,614$26,121$23,830$21,727$14,958
10 years$27,904$25,222$22,773$20,541$18,513$12,137
11 years$25,109$22,454$20,049$17,877$15,921$9,928
12 years$22,781$20,153$17,793$15,681$13,797$8,173
13 years$20,813$18,213$15,897$13,844$12,031$6,762
14 years$19,128$16,555$14,283$12,289$10,547$5,618
15 years$17,668$15,123$12,896$10,960$9,286$4,683
16 years$16,392$13,875$11,692$9,813$8,207$3,914
17 years$15,268$12,779$10,639$8,817$7,277$3,279
18 years$14,269$11,808$9,712$7,946$6,470$2,752
19 years$13,377$10,944$8,891$7,180$5,767$2,313
20 years$12,575$10,169$8,160$6,503$5,151$1,947
21 years$11,850$9,472$7,506$5,902$4,610$1,641
22 years$11,192$8,842$6,917$5,366$4,132$1,384
23 years$10,593$8,270$6,387$4,887$3,709$1,168
24 years$10,044$7,748$5,907$4,457$3,334$986
25 years$9,539$7,271$5,471$4,070$3,000$833
26 years$9,074$6,834$5,074$3,722$2,702$704
27 years$8,645$6,431$4,712$3,407$2,436$596
28 years$8,246$6,060$4,380$3,121$2,198$504
29 years$7,876$5,717$4,076$2,862$1,985$426
30 years$7,532$5,399$3,797$2,627$1,794$361
31 years$7,210$5,104$3,540$2,413$1,622$306
32 years$6,909$4,830$3,303$2,217$1,467$259
33 years$6,626$4,574$3,084$2,039$1,328$219
34 years$6,361$4,335$2,881$1,876$1,202$186
35 years$6,112$4,111$2,694$1,727$1,089$157
36 years$5,876$3,902$2,520$1,590$986$133
37 years$5,655$3,706$2,359$1,465$894$113
38 years$5,445$3,522$2,209$1,351$810$96
39 years$5,247$3,349$2,069$1,245$735$81
40 years$5,058$3,187$1,940$1,149$667$69
41 years$4,880$3,033$1,819$1,060$605$58
42 years$4,711$2,889$1,706$978$549$49
43 years$4,550$2,753$1,601$903$498$42
44 years$4,396$2,624$1,503$834$452$35
45 years$4,250$2,502$1,411$770$410$30
46 years$4,111$2,387$1,325$711$373$25
47 years$3,978$2,278$1,245$657$338$22
48 years$3,850$2,174$1,170$607$307$18
49 years$3,729$2,076$1,100$561$279$15
50 years$3,612$1,984$1,034$519$253$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $3,700,000, adding $3,429 every year, while hoping to spend $57,336 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: 47/37/16 Blend
61$3,700,000$3,700,000$3,700,000$3,700,000
62$4,080,937$3,884,837$3,827,487$4,254,163
63$4,436,188$4,014,189$3,894,703$4,504,092
64$4,825,752$4,147,958$3,962,249$4,769,089
65$5,253,070$4,286,299$4,030,075$5,055,466
66$5,721,929$4,429,374$4,098,129$5,365,238
67$6,236,504$4,577,350$4,166,354$5,700,623
68$6,801,389$4,730,402$4,234,689$6,064,059
69$7,421,648$4,888,710$4,303,069$6,458,228
70$8,102,860$5,052,460$4,371,425$6,886,080
71$8,851,167$5,221,846$4,439,683$7,350,859
72$9,673,339$5,397,070$4,507,765$7,856,139
73$10,576,832$5,578,339$4,575,588$8,405,846
74$11,569,861$5,765,869$4,643,062$9,004,307
75$12,661,476$5,959,886$4,710,094$9,656,279
76$13,861,648$6,160,621$4,776,583$10,367,001
77$15,181,361$6,368,317$4,842,424$11,142,239
78$16,632,718$6,583,223$4,907,503$11,988,340
79$18,229,054$6,805,600$4,971,703$12,912,292
80$19,985,060$7,035,716$5,034,898$13,921,788
81$21,916,923$7,273,853$5,096,953$15,025,299
82$24,042,477$7,520,300$5,157,730$16,232,152
83$26,381,374$7,775,359$5,217,078$17,552,618
84$28,955,265$8,039,342$5,274,841$18,998,005
85$31,788,007$8,312,575$5,330,853$20,580,771
86$34,905,887$8,595,395$5,384,940$22,314,632
87$38,337,869$8,888,151$5,436,917$24,214,695
88$42,115,868$9,191,206$5,486,590$26,297,600
89$46,275,050$9,504,939$5,533,754$28,581,673
90$50,854,165$9,829,741$5,578,195$31,087,101
91$55,895,910$10,166,018$5,619,684$33,836,120
92$61,447,333$10,514,194$5,657,984$36,853,222
93$67,560,278$10,874,706$5,692,844$40,165,388
94$74,291,871$11,248,011$5,723,999$43,802,340
95$81,705,060$11,634,582$5,751,171$47,796,819
96$89,869,210$12,034,911$5,774,069$52,184,895
97$98,860,756$12,449,508$5,792,387$57,006,305
98$108,763,924$12,878,904$5,805,802$62,304,826
99$119,671,525$13,323,651$5,813,977$68,128,686
100$131,685,832$13,784,321$5,816,557$74,531,022