Can I retire at age 62 with 1,090,000?

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 $1,090,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$90,011$89,209$88,427$87,664$86,918$84,271
2 years$44,560$43,730$42,926$42,146$41,390$38,745
3 years$29,412$28,578$27,776$27,003$26,259$23,701
4 years$21,839$21,008$20,214$19,454$18,728$16,275
5 years$17,296$16,470$15,687$14,943$14,237$11,896
6 years$14,269$13,449$12,677$11,950$11,265$9,038
7 years$12,108$11,295$10,535$9,825$9,162$7,049
8 years$10,487$9,682$8,934$8,242$7,600$5,600
9 years$9,228$8,430$7,695$7,020$6,401$4,511
10 years$8,220$7,430$6,709$6,051$5,454$3,672
11 years$7,397$6,615$5,906$5,267$4,690$3,013
12 years$6,711$5,937$5,242$4,619$4,065$2,489
13 years$6,131$5,365$4,683$4,078$3,544$2,066
14 years$5,635$4,877$4,208$3,620$3,107$1,723
15 years$5,205$4,455$3,799$3,229$2,736$1,441
16 years$4,829$4,088$3,444$2,891$2,418$1,209
17 years$4,498$3,765$3,134$2,597$2,144$1,016
18 years$4,204$3,479$2,861$2,341$1,906$856
19 years$3,941$3,224$2,619$2,115$1,699$722
20 years$3,705$2,996$2,404$1,916$1,518$610
21 years$3,491$2,790$2,211$1,739$1,358$516
22 years$3,297$2,605$2,038$1,581$1,217$437
23 years$3,121$2,436$1,882$1,440$1,093$370
24 years$2,959$2,283$1,740$1,313$982$314
25 years$2,810$2,142$1,612$1,199$884$266
26 years$2,673$2,013$1,495$1,096$796$226
27 years$2,547$1,895$1,388$1,004$718$192
28 years$2,429$1,785$1,290$919$648$163
29 years$2,320$1,684$1,201$843$585$139
30 years$2,219$1,591$1,119$774$528$118
31 years$2,124$1,504$1,043$711$478$100
32 years$2,035$1,423$973$653$432$85
33 years$1,952$1,347$908$601$391$72
34 years$1,874$1,277$849$553$354$62
35 years$1,800$1,211$794$509$321$52
36 years$1,731$1,150$742$469$291$45
37 years$1,666$1,092$695$432$263$38
38 years$1,604$1,038$651$398$239$32
39 years$1,546$987$610$367$217$27
40 years$1,490$939$571$338$196$23
41 years$1,438$894$536$312$178$20
42 years$1,388$851$503$288$162$17
43 years$1,340$811$472$266$147$14
44 years$1,295$773$443$246$133$12
45 years$1,252$737$416$227$121$10
46 years$1,211$703$390$210$110$9
47 years$1,172$671$367$194$100$8
48 years$1,134$641$345$179$91$6
49 years$1,098$612$324$165$82$5
50 years$1,064$584$305$153$75$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,090,000, adding $5,561 every year, while hoping to spend $41,556 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: 24/48/28 Blend
61$1,090,000$1,090,000$1,090,000$1,090,000
62$1,206,916$1,149,146$1,132,251$1,225,145
63$1,285,806$1,161,239$1,125,966$1,253,146
64$1,371,351$1,172,532$1,118,078$1,279,254
65$1,464,184$1,182,941$1,108,489$1,306,356
66$1,565,004$1,192,379$1,097,097$1,334,561
67$1,674,579$1,200,750$1,083,794$1,363,995
68$1,793,754$1,207,955$1,068,470$1,394,798
69$1,923,459$1,213,886$1,051,005$1,427,128
70$2,064,715$1,218,431$1,031,278$1,461,164
71$2,218,650$1,221,467$1,009,159$1,497,104
72$2,386,501$1,222,868$984,514$1,535,173
73$2,569,631$1,222,496$957,203$1,575,622
74$2,769,542$1,220,206$927,077$1,618,733
75$2,987,884$1,215,845$893,984$1,664,820
76$3,226,477$1,209,250$857,760$1,714,236
77$3,487,321$1,200,247$818,239$1,767,374
78$3,772,622$1,188,653$775,244$1,824,674
79$4,084,805$1,174,273$728,591$1,886,626
80$4,426,544$1,156,901$678,087$1,953,778
81$4,800,780$1,136,318$623,531$2,026,740
82$5,210,754$1,112,292$564,714$2,106,192
83$5,660,035$1,084,578$501,416$2,192,890
84$6,152,552$1,052,916$433,408$2,287,677
85$6,692,635$1,017,032$360,450$2,391,491
86$7,285,051$976,634$282,292$2,505,372
87$7,935,051$931,414$198,674$2,630,481
88$8,648,420$881,046$109,322$2,768,103
89$9,431,527$825,186$13,953$2,919,668
90$10,291,392$763,469$0$3,086,764
91$11,235,746$695,511$0$3,297,388
92$12,273,104$620,903$0$3,533,412
93$13,412,850$539,216$0$3,792,927
94$14,665,317$449,995$0$4,078,436
95$16,041,894$352,759$0$4,392,707
96$17,555,125$247,002$0$4,738,804
97$19,218,828$132,186$0$5,120,109
98$21,048,232$7,746$0$5,540,364
99$23,060,111$0$0$6,003,705
100$25,272,948$0$0$6,581,735