Can I Retire At 62 With $2.5 Million?

Shawn Plummer

CEO, The Annuity Expert

Retire At 62 With $2.5 Million

Retiring at 62 with $2.5 million is feasible, and purchasing an annuity is a viable option.

Here’s a breakdown:

Annuity Purchase at Age 62

  • Annuity Amount: $175,938/year
  • Benefits: Immediate income, financial stability
  • Considerations: Lower annual payout compared to starting at 65

Annuity Purchase at Age 65

  • Annuity Amount: $230,325/year
  • Benefits: Higher annual income
  • Considerations: Need to manage finances for three more years without annuity income

Unlock the potential of your investment with our precise annuity payout calculator.

Social Security

  • Minimum Age: 62
  • Note: Claiming early reduces monthly benefits compared to waiting until full retirement age

Health Insurance Considerations

Our retirement calculator can guide your long-term financial planning.


Retiring at 62 with $2.5 million and buying an annuity can provide a comfortable retirement. The choice between starting the annuity at 62 or 65 depends on your financial needs and preferences. Remember to plan for healthcare costs before Medicare eligibility. A well-planned retirement strategy can ensure a stable and secure financial future. Contact us today for a free quote.

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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