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

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 $1,130,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$93,314$92,483$91,672$90,881$90,108$89,540
2 years$46,195$45,335$44,501$43,693$42,908$42,336
3 years$30,491$29,627$28,795$27,994$27,223$26,663
4 years$22,640$21,779$20,955$20,168$19,416$18,873
5 years$17,931$17,075$16,262$15,491$14,759$14,235
6 years$14,793$13,943$13,142$12,388$11,679$11,174
7 years$12,552$11,709$10,921$10,185$9,498$9,013
8 years$10,872$10,037$9,262$8,544$7,879$7,414
9 years$9,566$8,739$7,978$7,278$6,636$6,190
10 years$8,522$7,703$6,955$6,273$5,654$5,227
11 years$7,668$6,858$6,123$5,460$4,862$4,455
12 years$6,957$6,155$5,434$4,789$4,214$3,825
13 years$6,356$5,562$4,855$4,228$3,674$3,304
14 years$5,842$5,056$4,362$3,753$3,221$2,868
15 years$5,396$4,619$3,938$3,347$2,836$2,500
16 years$5,006$4,238$3,571$2,997$2,506$2,188
17 years$4,663$3,903$3,249$2,693$2,222$1,920
18 years$4,358$3,606$2,966$2,427$1,976$1,689
19 years$4,085$3,342$2,715$2,193$1,761$1,490
20 years$3,841$3,106$2,492$1,986$1,573$1,317
21 years$3,619$2,893$2,292$1,802$1,408$1,165
22 years$3,418$2,700$2,113$1,639$1,262$1,033
23 years$3,235$2,526$1,951$1,492$1,133$917
24 years$3,067$2,366$1,804$1,361$1,018$815
25 years$2,913$2,221$1,671$1,243$916$725
26 years$2,771$2,087$1,550$1,137$825$646
27 years$2,640$1,964$1,439$1,040$744$575
28 years$2,519$1,851$1,338$953$671$513
29 years$2,405$1,746$1,245$874$606$458
30 years$2,300$1,649$1,160$802$548$409
31 years$2,202$1,559$1,081$737$495$365
32 years$2,110$1,475$1,009$677$448$326
33 years$2,024$1,397$942$623$405$292
34 years$1,943$1,324$880$573$367$261
35 years$1,866$1,256$823$527$332$233
36 years$1,795$1,192$770$486$301$209
37 years$1,727$1,132$720$448$273$187
38 years$1,663$1,076$675$413$248$167
39 years$1,602$1,023$632$380$224$150
40 years$1,545$973$592$351$204$134
41 years$1,490$926$555$324$185$120
42 years$1,439$882$521$299$168$108
43 years$1,389$841$489$276$152$96
44 years$1,343$801$459$255$138$86
45 years$1,298$764$431$235$125$77
46 years$1,255$729$405$217$114$69
47 years$1,215$696$380$201$103$62
48 years$1,176$664$357$185$94$56
49 years$1,139$634$336$171$85$50
50 years$1,103$606$316$158$77$45

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 $4,287 every year, while hoping to spend $57,377 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: 37/47/16 Blend
61$1,130,000$1,130,000$1,130,000$1,130,000
62$1,249,682$1,189,792$1,172,277$1,289,704
63$1,316,101$1,187,043$1,150,500$1,316,159
64$1,387,372$1,182,237$1,126,070$1,338,936
65$1,463,928$1,175,211$1,098,838$1,362,316
66$1,546,247$1,165,795$1,068,647$1,386,381
67$1,634,853$1,153,807$1,035,335$1,411,229
68$1,730,319$1,139,054$998,730$1,436,972
69$1,833,276$1,121,333$958,653$1,463,737
70$1,944,420$1,100,428$914,917$1,491,668
71$2,064,510$1,076,108$867,326$1,520,932
72$2,194,386$1,048,133$815,677$1,551,717
73$2,334,966$1,016,244$759,755$1,584,236
74$2,487,263$980,171$699,337$1,618,731
75$2,652,390$939,625$634,191$1,655,476
76$2,831,569$894,303$564,072$1,694,779
77$3,026,147$843,881$488,726$1,736,988
78$3,237,603$788,021$407,888$1,782,495
79$3,467,566$726,361$321,279$1,831,741
80$3,717,826$658,521$228,610$1,885,220
81$3,990,354$584,099$129,579$1,943,488
82$4,287,320$502,669$23,869$2,007,167
83$4,611,110$413,783$0$2,076,956
84$4,964,350$316,965$0$2,168,818
85$5,349,933$211,715$0$2,273,778
86$5,771,040$97,504$0$2,388,793
87$6,231,176$0$0$2,515,016
88$6,734,197$0$0$2,667,293
89$7,284,351$0$0$2,889,139
90$7,886,314$0$0$3,132,033
91$8,545,234$0$0$3,398,070
92$9,266,782$0$0$3,689,559
93$10,057,200$0$0$4,009,045
94$10,923,365$0$0$4,359,327
95$11,872,848$0$0$4,743,490
96$12,913,992$0$0$5,164,933
97$14,055,980$0$0$5,627,398
98$15,308,931$0$0$6,135,007
99$16,683,989$0$0$6,692,301
100$18,193,430$0$0$7,304,282