Can I retire at age 62 with 1,100,000?

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 $1,100,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$90,837$90,028$89,238$88,468$87,716$85,215
2 years$44,969$44,131$43,320$42,533$41,769$39,270
3 years$29,681$28,840$28,031$27,251$26,500$24,080
4 years$22,039$21,201$20,399$19,633$18,900$16,577
5 years$17,455$16,622$15,831$15,080$14,368$12,149
6 years$14,400$13,573$12,793$12,060$11,369$9,256
7 years$12,219$11,398$10,631$9,915$9,246$7,239
8 years$10,583$9,771$9,016$8,317$7,670$5,768
9 years$9,312$8,507$7,766$7,084$6,459$4,660
10 years$8,296$7,499$6,770$6,107$5,504$3,805
11 years$7,465$6,675$5,960$5,315$4,733$3,133
12 years$6,773$5,992$5,290$4,662$4,102$2,596
13 years$6,188$5,415$4,726$4,116$3,577$2,163
14 years$5,687$4,922$4,246$3,653$3,135$1,809
15 years$5,253$4,496$3,834$3,258$2,761$1,519
16 years$4,873$4,125$3,476$2,917$2,440$1,279
17 years$4,539$3,799$3,163$2,621$2,163$1,079
18 years$4,242$3,510$2,887$2,362$1,924$912
19 years$3,977$3,253$2,643$2,135$1,715$773
20 years$3,739$3,023$2,426$1,933$1,531$655
21 years$3,523$2,816$2,231$1,755$1,371$556
22 years$3,327$2,629$2,057$1,595$1,228$473
23 years$3,149$2,459$1,899$1,453$1,103$402
24 years$2,986$2,304$1,756$1,325$991$342
25 years$2,836$2,162$1,627$1,210$892$292
26 years$2,698$2,032$1,509$1,106$803$249
27 years$2,570$1,912$1,401$1,013$724$212
28 years$2,452$1,802$1,302$928$654$181
29 years$2,342$1,700$1,212$851$590$154
30 years$2,239$1,605$1,129$781$533$132
31 years$2,143$1,517$1,052$717$482$112
32 years$2,054$1,436$982$659$436$96
33 years$1,970$1,360$917$606$395$82
34 years$1,891$1,289$857$558$357$70
35 years$1,817$1,222$801$513$324$60
36 years$1,747$1,160$749$473$293$51
37 years$1,681$1,102$701$436$266$44
38 years$1,619$1,047$657$402$241$37
39 years$1,560$996$615$370$218$32
40 years$1,504$947$577$342$198$27
41 years$1,451$902$541$315$180$23
42 years$1,400$859$507$291$163$20
43 years$1,353$818$476$268$148$17
44 years$1,307$780$447$248$134$14
45 years$1,264$744$419$229$122$12
46 years$1,222$710$394$211$111$11
47 years$1,183$677$370$195$101$9
48 years$1,145$646$348$180$91$8
49 years$1,109$617$327$167$83$7
50 years$1,074$590$307$154$75$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,100,000, adding $5,531 every year, while hoping to spend $25,814 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: 47/38/15 Blend
61$1,100,000$1,100,000$1,100,000$1,100,000
62$1,217,905$1,159,605$1,142,555$1,269,760
63$1,314,666$1,188,960$1,153,365$1,335,628
64$1,420,430$1,218,888$1,163,672$1,403,997
65$1,536,091$1,249,390$1,173,431$1,477,638
66$1,662,628$1,280,466$1,182,597$1,557,051
67$1,801,123$1,312,115$1,191,120$1,642,788
68$1,952,764$1,344,336$1,198,950$1,735,457
69$2,118,863$1,377,125$1,206,031$1,835,727
70$2,300,861$1,410,479$1,212,308$1,944,334
71$2,500,349$1,444,392$1,217,720$2,062,091
72$2,719,075$1,478,858$1,222,204$2,189,891
73$2,958,968$1,513,869$1,225,695$2,328,721
74$3,222,150$1,549,416$1,228,123$2,479,664
75$3,510,959$1,585,487$1,229,416$2,643,916
76$3,827,972$1,622,071$1,229,496$2,822,795
77$4,176,026$1,659,153$1,228,285$3,017,752
78$4,558,245$1,696,716$1,225,697$3,230,387
79$4,978,073$1,734,742$1,221,645$3,462,461
80$5,439,303$1,773,211$1,216,036$3,715,917
81$5,946,112$1,812,098$1,208,773$3,992,894
82$6,503,103$1,851,379$1,199,755$4,295,750
83$7,115,348$1,891,025$1,188,876$4,627,085
84$7,788,433$1,931,005$1,176,023$4,989,763
85$8,528,514$1,971,285$1,161,080$5,386,938
86$9,342,371$2,011,827$1,143,925$5,822,091
87$10,237,476$2,052,589$1,124,429$6,299,055
88$11,222,060$2,093,528$1,102,459$6,822,054
89$12,305,193$2,134,594$1,077,875$7,395,745
90$13,496,869$2,175,734$1,050,529$8,025,260
91$14,808,096$2,216,892$1,020,268$8,716,255
92$16,251,006$2,258,004$986,932$9,474,964
93$17,838,967$2,299,005$950,352$10,308,258
94$19,586,706$2,339,820$910,354$11,223,708
95$21,510,452$2,380,373$866,752$12,229,660
96$23,628,085$2,420,579$819,356$13,335,314
97$25,959,310$2,460,347$767,964$14,550,806
98$28,525,836$2,499,580$712,367$15,887,310
99$31,351,585$2,538,174$652,346$17,357,142
100$34,462,919$2,576,017$587,672$18,973,874