Can I retire at age 62 with 1,130,000?

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 $1,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$93,314$92,483$91,672$90,881$90,108$88,001
2 years$46,195$45,335$44,501$43,693$42,908$40,798
3 years$30,491$29,627$28,795$27,994$27,223$25,174
4 years$22,640$21,779$20,955$20,168$19,416$17,445
5 years$17,931$17,075$16,262$15,491$14,759$12,872
6 years$14,793$13,943$13,142$12,388$11,679$9,877
7 years$12,552$11,709$10,921$10,185$9,498$7,782
8 years$10,872$10,037$9,262$8,544$7,879$6,248
9 years$9,566$8,739$7,978$7,278$6,636$5,088
10 years$8,522$7,703$6,955$6,273$5,654$4,188
11 years$7,668$6,858$6,123$5,460$4,862$3,477
12 years$6,957$6,155$5,434$4,789$4,214$2,906
13 years$6,356$5,562$4,855$4,228$3,674$2,442
14 years$5,842$5,056$4,362$3,753$3,221$2,061
15 years$5,396$4,619$3,938$3,347$2,836$1,746
16 years$5,006$4,238$3,571$2,997$2,506$1,484
17 years$4,663$3,903$3,249$2,693$2,222$1,264
18 years$4,358$3,606$2,966$2,427$1,976$1,079
19 years$4,085$3,342$2,715$2,193$1,761$923
20 years$3,841$3,106$2,492$1,986$1,573$790
21 years$3,619$2,893$2,292$1,802$1,408$678
22 years$3,418$2,700$2,113$1,639$1,262$582
23 years$3,235$2,526$1,951$1,492$1,133$500
24 years$3,067$2,366$1,804$1,361$1,018$430
25 years$2,913$2,221$1,671$1,243$916$370
26 years$2,771$2,087$1,550$1,137$825$319
27 years$2,640$1,964$1,439$1,040$744$275
28 years$2,519$1,851$1,338$953$671$237
29 years$2,405$1,746$1,245$874$606$204
30 years$2,300$1,649$1,160$802$548$176
31 years$2,202$1,559$1,081$737$495$152
32 years$2,110$1,475$1,009$677$448$131
33 years$2,024$1,397$942$623$405$113
34 years$1,943$1,324$880$573$367$98
35 years$1,866$1,256$823$527$332$84
36 years$1,795$1,192$770$486$301$73
37 years$1,727$1,132$720$448$273$63
38 years$1,663$1,076$675$413$248$54
39 years$1,602$1,023$632$380$224$47
40 years$1,545$973$592$351$204$41
41 years$1,490$926$555$324$185$35
42 years$1,439$882$521$299$168$30
43 years$1,389$841$489$276$152$26
44 years$1,343$801$459$255$138$23
45 years$1,298$764$431$235$125$20
46 years$1,255$729$405$217$114$17
47 years$1,215$696$380$201$103$15
48 years$1,176$664$357$185$94$13
49 years$1,139$634$336$171$85$11
50 years$1,103$606$316$158$77$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,130,000, adding $3,275 every year, while hoping to spend $40,454 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: 70/14/16 Blend
61$1,130,000$1,130,000$1,130,000$1,130,000
62$1,248,638$1,188,748$1,171,233$1,331,172
63$1,332,957$1,203,954$1,167,427$1,401,700
64$1,424,519$1,218,549$1,162,137$1,473,714
65$1,524,023$1,232,461$1,155,271$1,551,496
66$1,632,234$1,245,612$1,146,733$1,635,610
67$1,749,994$1,257,919$1,136,421$1,726,677
68$1,878,231$1,269,294$1,124,228$1,825,381
69$2,017,964$1,279,644$1,110,044$1,932,478
70$2,170,317$1,288,867$1,093,751$2,048,800
71$2,336,526$1,296,858$1,075,228$2,175,265
72$2,517,950$1,303,502$1,054,347$2,312,884
73$2,716,087$1,308,680$1,030,974$2,462,772
74$2,932,586$1,312,263$1,004,969$2,626,160
75$3,169,260$1,314,114$976,185$2,804,402
76$3,428,107$1,314,089$944,471$2,998,993
77$3,711,328$1,312,033$909,664$3,211,582
78$4,021,344$1,307,784$871,599$3,443,985
79$4,360,823$1,301,167$830,100$3,698,206
80$4,732,702$1,291,999$784,983$3,976,452
81$5,140,216$1,280,085$736,058$4,281,160
82$5,586,926$1,265,217$683,124$4,615,014
83$6,076,757$1,247,177$625,973$4,980,974
84$6,614,029$1,225,732$564,386$5,382,303
85$7,203,502$1,200,635$498,135$5,822,599
86$7,850,420$1,171,626$426,983$6,305,830
87$8,560,555$1,138,429$350,680$6,836,367
88$9,340,271$1,100,751$268,966$7,419,033
89$10,196,573$1,058,282$181,572$8,059,142
90$11,137,182$1,010,696$88,212$8,762,555
91$12,170,600$957,646$0$9,535,732
92$13,306,196$898,766$0$10,387,744
93$14,554,290$833,667$0$11,340,691
94$15,926,252$761,941$0$12,388,207
95$17,434,607$683,153$0$13,539,892
96$19,093,157$596,848$0$14,806,323
97$20,917,106$502,540$0$16,199,159
98$22,923,205$399,720$0$17,731,246
99$25,129,913$287,846$0$19,416,742
100$27,557,563$166,350$0$21,271,251