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%14.3%
1 years$90,837$90,028$89,238$88,468$87,716$86,156
2 years$44,969$44,131$43,320$42,533$41,769$40,203
3 years$29,681$28,840$28,031$27,251$26,500$24,977
4 years$22,039$21,201$20,399$19,633$18,900$17,431
5 years$17,455$16,622$15,831$15,080$14,368$12,957
6 years$14,400$13,573$12,793$12,060$11,369$10,018
7 years$12,219$11,398$10,631$9,915$9,246$7,955
8 years$10,583$9,771$9,016$8,317$7,670$6,440
9 years$9,312$8,507$7,766$7,084$6,459$5,288
10 years$8,296$7,499$6,770$6,107$5,504$4,391
11 years$7,465$6,675$5,960$5,315$4,733$3,677
12 years$6,773$5,992$5,290$4,662$4,102$3,102
13 years$6,188$5,415$4,726$4,116$3,577$2,631
14 years$5,687$4,922$4,246$3,653$3,135$2,242
15 years$5,253$4,496$3,834$3,258$2,761$1,918
16 years$4,873$4,125$3,476$2,917$2,440$1,646
17 years$4,539$3,799$3,163$2,621$2,163$1,416
18 years$4,242$3,510$2,887$2,362$1,924$1,221
19 years$3,977$3,253$2,643$2,135$1,715$1,055
20 years$3,739$3,023$2,426$1,933$1,531$914
21 years$3,523$2,816$2,231$1,755$1,371$792
22 years$3,327$2,629$2,057$1,595$1,228$687
23 years$3,149$2,459$1,899$1,453$1,103$597
24 years$2,986$2,304$1,756$1,325$991$519
25 years$2,836$2,162$1,627$1,210$892$452
26 years$2,698$2,032$1,509$1,106$803$394
27 years$2,570$1,912$1,401$1,013$724$343
28 years$2,452$1,802$1,302$928$654$299
29 years$2,342$1,700$1,212$851$590$261
30 years$2,239$1,605$1,129$781$533$228
31 years$2,143$1,517$1,052$717$482$199
32 years$2,054$1,436$982$659$436$173
33 years$1,970$1,360$917$606$395$151
34 years$1,891$1,289$857$558$357$132
35 years$1,817$1,222$801$513$324$116
36 years$1,747$1,160$749$473$293$101
37 years$1,681$1,102$701$436$266$88
38 years$1,619$1,047$657$402$241$77
39 years$1,560$996$615$370$218$67
40 years$1,504$947$577$342$198$59
41 years$1,451$902$541$315$180$52
42 years$1,400$859$507$291$163$45
43 years$1,353$818$476$268$148$39
44 years$1,307$780$447$248$134$34
45 years$1,264$744$419$229$122$30
46 years$1,222$710$394$211$111$26
47 years$1,183$677$370$195$101$23
48 years$1,145$646$348$180$91$20
49 years$1,109$617$327$167$83$18
50 years$1,074$590$307$154$75$15

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 $5,805 every year, while hoping to spend $40,057 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: 25/48/27 Blend
61$1,100,000$1,100,000$1,100,000$1,100,000
62$1,218,188$1,159,888$1,142,838$1,238,193
63$1,299,823$1,174,102$1,138,503$1,269,453
64$1,388,442$1,187,670$1,132,680$1,299,153
65$1,484,715$1,200,518$1,125,277$1,330,160
66$1,589,380$1,212,568$1,116,197$1,362,611
67$1,703,247$1,223,734$1,105,340$1,396,660
68$1,827,209$1,233,927$1,092,600$1,432,477
69$1,962,247$1,243,052$1,077,865$1,470,254
70$2,109,442$1,251,008$1,061,019$1,510,205
71$2,269,982$1,257,685$1,041,940$1,552,569
72$2,445,177$1,262,968$1,020,502$1,597,614
73$2,636,468$1,266,736$996,571$1,645,637
74$2,845,439$1,268,857$970,008$1,696,970
75$3,073,837$1,269,194$940,666$1,751,986
76$3,323,583$1,267,600$908,394$1,811,096
77$3,596,795$1,263,919$873,031$1,874,761
78$3,895,802$1,257,984$834,411$1,943,492
79$4,223,169$1,249,621$792,360$2,017,861
80$4,581,723$1,238,643$746,694$2,098,500
81$4,974,575$1,224,853$697,225$2,186,115
82$5,405,151$1,208,040$643,751$2,281,488
83$5,877,226$1,187,984$586,067$2,385,490
84$6,394,956$1,164,448$523,953$2,499,086
85$6,962,920$1,137,184$457,184$2,623,350
86$7,586,160$1,105,928$385,521$2,759,472
87$8,270,230$1,070,401$308,719$2,908,773
88$9,021,250$1,030,307$226,517$3,072,716
89$9,845,958$985,333$138,646$3,252,928
90$10,751,780$935,148$44,825$3,451,207
91$11,746,894$879,403$0$3,669,549
92$12,840,310$817,726$0$3,926,096
93$14,041,954$749,728$0$4,222,181
94$15,362,762$674,993$0$4,547,681
95$16,814,782$593,085$0$4,905,694
96$18,411,285$503,542$0$5,299,643
97$20,166,895$405,875$0$5,733,311
98$22,097,724$299,568$0$6,210,875
99$24,221,522$184,078$0$6,736,951
100$26,557,848$58,828$0$7,316,637