Can I retire at age 62 with 1,110,000?

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 $1,110,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$91,663$90,846$90,050$89,272$88,513$85,714
2 years$45,378$44,532$43,713$42,919$42,149$39,354
3 years$29,951$29,102$28,285$27,499$26,741$24,039
4 years$22,240$21,393$20,585$19,811$19,072$16,482
5 years$17,614$16,773$15,974$15,217$14,498$12,028
6 years$14,531$13,696$12,910$12,169$11,472$9,124
7 years$12,330$11,502$10,728$10,005$9,330$7,103
8 years$10,680$9,859$9,098$8,393$7,740$5,634
9 years$9,397$8,584$7,836$7,149$6,518$4,530
10 years$8,371$7,567$6,832$6,162$5,554$3,680
11 years$7,533$6,736$6,015$5,363$4,776$3,014
12 years$6,834$6,046$5,338$4,704$4,139$2,485
13 years$6,244$5,464$4,769$4,153$3,609$2,058
14 years$5,738$4,966$4,285$3,687$3,164$1,713
15 years$5,300$4,537$3,869$3,288$2,786$1,430
16 years$4,918$4,163$3,508$2,944$2,462$1,197
17 years$4,580$3,834$3,192$2,645$2,183$1,004
18 years$4,281$3,542$2,914$2,384$1,941$844
19 years$4,013$3,283$2,667$2,154$1,730$710
20 years$3,773$3,051$2,448$1,951$1,545$599
21 years$3,555$2,842$2,252$1,770$1,383$505
22 years$3,358$2,653$2,075$1,610$1,240$427
23 years$3,178$2,481$1,916$1,466$1,113$361
24 years$3,013$2,324$1,772$1,337$1,000$305
25 years$2,862$2,181$1,641$1,221$900$258
26 years$2,722$2,050$1,522$1,117$811$219
27 years$2,593$1,929$1,414$1,022$731$185
28 years$2,474$1,818$1,314$936$660$157
29 years$2,363$1,715$1,223$859$596$133
30 years$2,259$1,620$1,139$788$538$113
31 years$2,163$1,531$1,062$724$486$96
32 years$2,073$1,449$991$665$440$81
33 years$1,988$1,372$925$612$398$69
34 years$1,908$1,300$864$563$361$58
35 years$1,833$1,233$808$518$327$50
36 years$1,763$1,171$756$477$296$42
37 years$1,696$1,112$708$440$268$36
38 years$1,633$1,057$663$405$243$30
39 years$1,574$1,005$621$374$220$26
40 years$1,518$956$582$345$200$22
41 years$1,464$910$546$318$181$18
42 years$1,413$867$512$293$165$16
43 years$1,365$826$480$271$149$13
44 years$1,319$787$451$250$136$11
45 years$1,275$751$423$231$123$10
46 years$1,233$716$398$213$112$8
47 years$1,193$683$373$197$102$7
48 years$1,155$652$351$182$92$6
49 years$1,119$623$330$168$84$5
50 years$1,084$595$310$156$76$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,110,000, adding $4,522 every year, while hoping to spend $49,703 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: 72/13/15 Blend
61$1,110,000$1,110,000$1,110,000$1,110,000
62$1,227,884$1,169,054$1,151,849$1,311,846
63$1,300,245$1,173,455$1,137,553$1,372,526
64$1,378,321$1,176,404$1,121,111$1,432,469
65$1,462,642$1,177,780$1,102,401$1,496,805
66$1,553,791$1,177,451$1,081,291$1,565,960
67$1,652,409$1,175,278$1,057,646$1,640,401
68$1,759,200$1,171,112$1,031,323$1,720,644
69$1,874,939$1,164,797$1,002,172$1,807,261
70$2,000,477$1,156,166$970,039$1,900,879
71$2,136,750$1,145,043$934,760$2,002,193
72$2,284,788$1,131,239$896,163$2,111,967
73$2,445,723$1,114,557$854,072$2,231,047
74$2,620,802$1,094,785$808,299$2,360,362
75$2,811,396$1,071,702$758,649$2,500,941
76$3,019,014$1,045,071$704,919$2,653,917
77$3,245,316$1,014,642$646,896$2,820,541
78$3,492,129$980,150$584,358$3,002,192
79$3,761,464$941,316$517,072$3,200,392
80$4,055,536$897,842$444,796$3,416,819
81$4,376,780$849,416$367,277$3,653,325
82$4,727,880$795,706$284,249$3,911,953
83$5,111,790$736,361$195,437$4,194,956
84$5,531,760$671,011$100,552$4,504,819
85$5,991,373$599,264$0$4,844,283
86$6,494,570$520,705$0$5,216,485
87$7,045,693$434,897$0$5,641,828
88$7,649,525$341,378$0$6,107,933
89$8,311,330$239,659$0$6,618,911
90$9,036,909$129,225$0$7,179,292
91$9,832,648$9,531$0$7,794,070
92$10,705,582$0$0$8,468,749
93$11,663,461$0$0$9,226,559
94$12,714,820$0$0$10,059,876
95$13,869,060$0$0$10,974,797
96$15,136,539$0$0$11,979,537
97$16,528,665$0$0$13,083,148
98$18,058,006$0$0$14,295,600
99$19,738,407$0$0$15,627,879
100$21,585,122$0$0$17,092,085