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

Use the below retirement simulation to view the chances of a successful retirement.
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%18.3%
1 years$91,663$90,846$90,050$89,272$88,513$85,543
2 years$45,378$44,532$43,713$42,919$42,149$39,186
3 years$29,951$29,102$28,285$27,499$26,741$23,878
4 years$22,240$21,393$20,585$19,811$19,072$16,331
5 years$17,614$16,773$15,974$15,217$14,498$11,886
6 years$14,531$13,696$12,910$12,169$11,472$8,992
7 years$12,330$11,502$10,728$10,005$9,330$6,980
8 years$10,680$9,859$9,098$8,393$7,740$5,520
9 years$9,397$8,584$7,836$7,149$6,518$4,425
10 years$8,371$7,567$6,832$6,162$5,554$3,584
11 years$7,533$6,736$6,015$5,363$4,776$2,926
12 years$6,834$6,046$5,338$4,704$4,139$2,404
13 years$6,244$5,464$4,769$4,153$3,609$1,985
14 years$5,738$4,966$4,285$3,687$3,164$1,645
15 years$5,300$4,537$3,869$3,288$2,786$1,369
16 years$4,918$4,163$3,508$2,944$2,462$1,141
17 years$4,580$3,834$3,192$2,645$2,183$954
18 years$4,281$3,542$2,914$2,384$1,941$799
19 years$4,013$3,283$2,667$2,154$1,730$670
20 years$3,773$3,051$2,448$1,951$1,545$563
21 years$3,555$2,842$2,252$1,770$1,383$473
22 years$3,358$2,653$2,075$1,610$1,240$398
23 years$3,178$2,481$1,916$1,466$1,113$335
24 years$3,013$2,324$1,772$1,337$1,000$282
25 years$2,862$2,181$1,641$1,221$900$238
26 years$2,722$2,050$1,522$1,117$811$201
27 years$2,593$1,929$1,414$1,022$731$169
28 years$2,474$1,818$1,314$936$660$143
29 years$2,363$1,715$1,223$859$596$121
30 years$2,259$1,620$1,139$788$538$102
31 years$2,163$1,531$1,062$724$486$86
32 years$2,073$1,449$991$665$440$73
33 years$1,988$1,372$925$612$398$61
34 years$1,908$1,300$864$563$361$52
35 years$1,833$1,233$808$518$327$44
36 years$1,763$1,171$756$477$296$37
37 years$1,696$1,112$708$440$268$31
38 years$1,633$1,057$663$405$243$26
39 years$1,574$1,005$621$374$220$22
40 years$1,518$956$582$345$200$19
41 years$1,464$910$546$318$181$16
42 years$1,413$867$512$293$165$13
43 years$1,365$826$480$271$149$11
44 years$1,319$787$451$250$136$10
45 years$1,275$751$423$231$123$8
46 years$1,233$716$398$213$112$7
47 years$1,193$683$373$197$102$6
48 years$1,155$652$351$182$92$5
49 years$1,119$623$330$168$84$4
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 $6,130 every year, while hoping to spend $37,065 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: 62/26/12 Blend
61$1,110,000$1,110,000$1,110,000$1,110,000
62$1,229,543$1,170,713$1,153,508$1,301,926
63$1,315,520$1,188,641$1,152,714$1,369,120
64$1,409,023$1,206,205$1,150,651$1,437,640
65$1,510,783$1,223,349$1,147,237$1,511,521
66$1,621,601$1,240,011$1,142,387$1,591,285
67$1,742,359$1,256,126$1,136,011$1,677,505
68$1,874,027$1,271,624$1,128,016$1,770,814
69$2,017,675$1,286,431$1,118,301$1,871,910
70$2,174,479$1,300,467$1,106,766$1,981,561
71$2,345,734$1,313,647$1,093,300$2,100,618
72$2,532,864$1,325,881$1,077,791$2,230,013
73$2,737,439$1,337,073$1,060,120$2,370,779
74$2,961,187$1,347,119$1,040,163$2,524,053
75$3,206,010$1,355,909$1,017,791$2,691,089
76$3,474,003$1,363,329$992,866$2,873,269
77$3,767,472$1,369,252$965,248$3,072,117
78$4,088,956$1,373,548$934,786$3,289,316
79$4,441,255$1,376,077$901,326$3,526,718
80$4,827,447$1,376,688$864,705$3,786,369
81$5,250,926$1,375,226$824,752$4,070,521
82$5,715,429$1,371,520$781,289$4,381,661
83$6,225,071$1,365,394$734,132$4,722,529
84$6,784,388$1,356,657$683,084$5,096,147
85$7,398,372$1,345,110$627,944$5,505,848
86$8,072,524$1,330,539$568,499$5,955,307
87$8,812,906$1,312,719$504,527$6,448,573
88$9,626,190$1,291,411$435,797$6,990,116
89$10,519,733$1,266,361$362,068$7,584,860
90$11,501,635$1,237,301$283,086$8,238,236
91$12,580,820$1,203,948$198,588$8,956,232
92$13,767,122$1,166,000$108,299$9,745,450
93$15,071,373$1,123,139$11,932$10,613,169
94$16,505,508$1,075,027$0$11,567,415
95$18,082,676$1,021,309$0$12,628,676
96$19,817,363$961,608$0$13,797,453
97$21,725,532$895,524$0$15,083,015
98$23,824,768$822,636$0$16,497,260
99$26,134,447$742,499$0$18,053,307
100$28,675,920$654,641$0$19,765,613