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%18.7%
1 years$93,314$92,483$91,672$90,881$90,108$86,945
2 years$46,195$45,335$44,501$43,693$42,908$39,755
3 years$30,491$29,627$28,795$27,994$27,223$24,179
4 years$22,640$21,779$20,955$20,168$19,416$16,503
5 years$17,931$17,075$16,262$15,491$14,759$11,986
6 years$14,793$13,943$13,142$12,388$11,679$9,047
7 years$12,552$11,709$10,921$10,185$9,498$7,008
8 years$10,872$10,037$9,262$8,544$7,879$5,528
9 years$9,566$8,739$7,978$7,278$6,636$4,421
10 years$8,522$7,703$6,955$6,273$5,654$3,571
11 years$7,668$6,858$6,123$5,460$4,862$2,908
12 years$6,957$6,155$5,434$4,789$4,214$2,383
13 years$6,356$5,562$4,855$4,228$3,674$1,962
14 years$5,842$5,056$4,362$3,753$3,221$1,622
15 years$5,396$4,619$3,938$3,347$2,836$1,345
16 years$5,006$4,238$3,571$2,997$2,506$1,119
17 years$4,663$3,903$3,249$2,693$2,222$932
18 years$4,358$3,606$2,966$2,427$1,976$779
19 years$4,085$3,342$2,715$2,193$1,761$651
20 years$3,841$3,106$2,492$1,986$1,573$545
21 years$3,619$2,893$2,292$1,802$1,408$457
22 years$3,418$2,700$2,113$1,639$1,262$383
23 years$3,235$2,526$1,951$1,492$1,133$322
24 years$3,067$2,366$1,804$1,361$1,018$270
25 years$2,913$2,221$1,671$1,243$916$227
26 years$2,771$2,087$1,550$1,137$825$191
27 years$2,640$1,964$1,439$1,040$744$160
28 years$2,519$1,851$1,338$953$671$135
29 years$2,405$1,746$1,245$874$606$114
30 years$2,300$1,649$1,160$802$548$96
31 years$2,202$1,559$1,081$737$495$80
32 years$2,110$1,475$1,009$677$448$68
33 years$2,024$1,397$942$623$405$57
34 years$1,943$1,324$880$573$367$48
35 years$1,866$1,256$823$527$332$40
36 years$1,795$1,192$770$486$301$34
37 years$1,727$1,132$720$448$273$29
38 years$1,663$1,076$675$413$248$24
39 years$1,602$1,023$632$380$224$20
40 years$1,545$973$592$351$204$17
41 years$1,490$926$555$324$185$14
42 years$1,439$882$521$299$168$12
43 years$1,389$841$489$276$152$10
44 years$1,343$801$459$255$138$9
45 years$1,298$764$431$235$125$7
46 years$1,255$729$405$217$114$6
47 years$1,215$696$380$201$103$5
48 years$1,176$664$357$185$94$4
49 years$1,139$634$336$171$85$4
50 years$1,103$606$316$158$77$3

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 $6,415 every year, while hoping to spend $42,375 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: 52/41/7 Blend
61$1,130,000$1,130,000$1,130,000$1,130,000
62$1,251,877$1,191,987$1,174,472$1,314,505
63$1,334,482$1,205,308$1,168,730$1,371,057
64$1,424,092$1,217,861$1,161,376$1,427,381
65$1,521,378$1,229,564$1,152,310$1,487,618
66$1,627,075$1,240,330$1,141,429$1,552,144
67$1,741,995$1,250,064$1,128,626$1,621,376
68$1,867,029$1,258,668$1,113,785$1,695,773
69$2,003,158$1,266,035$1,096,789$1,775,845
70$2,151,462$1,272,052$1,077,513$1,862,151
71$2,313,127$1,276,599$1,055,826$1,955,312
72$2,489,463$1,279,549$1,031,593$2,056,012
73$2,681,907$1,280,766$1,004,670$2,165,008
74$2,892,044$1,280,106$974,909$2,283,134
75$3,121,617$1,277,416$942,153$2,411,313
76$3,372,547$1,272,533$906,240$2,550,563
77$3,646,945$1,265,286$866,997$2,702,008
78$3,947,140$1,255,492$824,248$2,866,892
79$4,275,693$1,242,955$777,805$3,046,585
80$4,635,425$1,227,472$727,473$3,242,602
81$5,029,445$1,208,824$673,050$3,456,615
82$5,461,172$1,186,780$614,321$3,690,469
83$5,934,375$1,161,096$551,064$3,946,204
84$6,453,204$1,131,512$483,047$4,226,069
85$7,022,229$1,097,755$410,028$4,532,548
86$7,646,485$1,059,534$331,753$4,868,382
87$8,331,517$1,016,542$247,957$5,236,599
88$9,083,433$968,453$158,364$5,640,538
89$9,908,960$914,924$62,687$6,083,887
90$10,815,510$855,592$0$6,570,714
91$11,811,247$790,071$0$7,108,455
92$12,905,165$717,954$0$7,704,307
93$14,107,171$638,813$0$8,359,078
94$15,428,180$552,193$0$9,078,826
95$16,880,218$457,614$0$9,870,236
96$18,476,532$354,570$0$10,740,682
97$20,231,718$242,523$0$11,698,296
98$22,161,857$120,910$0$12,752,050
99$24,284,664$0$0$13,911,841
100$26,619,660$0$0$15,193,485