Can I retire at age 62 with 1,140,000?

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 $1,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$94,140$93,302$92,483$91,685$90,905$87,925
2 years$46,604$45,736$44,895$44,079$43,288$40,314
3 years$30,761$29,889$29,050$28,242$27,464$24,589
4 years$22,841$21,972$21,141$20,347$19,587$16,834
5 years$18,090$17,226$16,406$15,628$14,890$12,266
6 years$14,924$14,066$13,259$12,498$11,782$9,289
7 years$12,663$11,813$11,018$10,275$9,582$7,219
8 years$10,968$10,126$9,344$8,620$7,949$5,716
9 years$9,651$8,816$8,048$7,342$6,694$4,587
10 years$8,597$7,771$7,017$6,329$5,704$3,720
11 years$7,736$6,918$6,177$5,508$4,906$3,041
12 years$7,019$6,209$5,482$4,831$4,251$2,501
13 years$6,413$5,612$4,898$4,265$3,707$2,068
14 years$5,893$5,101$4,401$3,786$3,250$1,717
15 years$5,444$4,660$3,973$3,377$2,861$1,430
16 years$5,051$4,275$3,602$3,023$2,529$1,195
17 years$4,704$3,937$3,278$2,717$2,242$1,000
18 years$4,397$3,638$2,992$2,448$1,994$839
19 years$4,122$3,372$2,739$2,212$1,777$704
20 years$3,874$3,133$2,514$2,004$1,587$592
21 years$3,651$2,918$2,313$1,818$1,420$499
22 years$3,448$2,724$2,131$1,653$1,273$420
23 years$3,264$2,548$1,968$1,506$1,143$354
24 years$3,094$2,387$1,820$1,373$1,027$299
25 years$2,939$2,240$1,686$1,254$924$253
26 years$2,796$2,106$1,563$1,147$833$213
27 years$2,664$1,982$1,452$1,050$751$180
28 years$2,541$1,867$1,350$962$677$152
29 years$2,427$1,762$1,256$882$612$129
30 years$2,321$1,664$1,170$809$553$109
31 years$2,221$1,573$1,091$743$500$92
32 years$2,129$1,488$1,018$683$452$78
33 years$2,042$1,409$950$628$409$66
34 years$1,960$1,336$888$578$370$56
35 years$1,883$1,267$830$532$335$47
36 years$1,811$1,202$776$490$304$40
37 years$1,742$1,142$727$451$275$34
38 years$1,678$1,085$681$416$250$29
39 years$1,616$1,032$638$384$226$24
40 years$1,559$982$598$354$205$21
41 years$1,504$935$560$327$186$17
42 years$1,451$890$526$301$169$15
43 years$1,402$848$493$278$153$12
44 years$1,354$808$463$257$139$11
45 years$1,309$771$435$237$126$9
46 years$1,267$735$408$219$115$8
47 years$1,226$702$384$202$104$6
48 years$1,186$670$360$187$95$5
49 years$1,149$640$339$173$86$5
50 years$1,113$611$319$160$78$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,140,000, adding $5,949 every year, while hoping to spend $30,670 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: 76/8/16 Blend
61$1,140,000$1,140,000$1,140,000$1,140,000
62$1,262,416$1,201,996$1,184,326$1,353,478
63$1,358,550$1,228,262$1,191,369$1,440,726
64$1,463,462$1,254,786$1,197,619$1,531,940
65$1,578,014$1,281,549$1,203,018$1,631,111
66$1,703,157$1,308,531$1,207,505$1,739,022
67$1,839,936$1,335,706$1,211,014$1,856,536
68$1,989,503$1,363,049$1,213,476$1,984,604
69$2,153,126$1,390,532$1,214,821$2,124,274
70$2,332,200$1,418,123$1,214,972$2,276,700
71$2,528,262$1,445,789$1,213,852$2,443,153
72$2,743,005$1,473,493$1,211,376$2,625,035
73$2,978,293$1,501,196$1,207,459$2,823,888
74$3,236,179$1,528,854$1,202,009$3,041,414
75$3,518,923$1,556,422$1,194,930$3,279,487
76$3,829,016$1,583,849$1,186,123$3,540,170
77$4,169,200$1,611,082$1,175,482$3,825,740
78$4,542,495$1,638,063$1,162,898$4,138,704
79$4,952,231$1,664,728$1,148,256$4,481,824
80$5,402,070$1,691,012$1,131,435$4,858,145
81$5,896,052$1,716,842$1,112,308$5,271,020
82$6,438,624$1,742,142$1,090,745$5,724,148
83$7,034,685$1,766,828$1,066,606$6,221,602
84$7,689,632$1,790,813$1,039,747$6,767,871
85$8,409,413$1,814,001$1,010,017$7,367,903
86$9,200,578$1,836,291$977,257$8,027,149
87$10,070,343$1,857,576$941,302$8,751,618
88$11,026,661$1,877,740$901,979$9,547,931
89$12,078,292$1,896,661$859,106$10,423,384
90$13,234,886$1,914,206$812,494$11,386,020
91$14,507,078$1,930,236$761,947$12,444,699
92$15,906,584$1,944,601$707,256$13,609,188
93$17,446,313$1,957,144$648,207$14,890,249
94$19,140,488$1,967,695$584,573$16,299,744
95$21,004,781$1,976,075$516,118$17,850,743
96$23,056,458$1,982,092$442,598$19,557,652
97$25,314,545$1,985,543$363,753$21,436,346
98$27,800,007$1,986,213$279,317$23,504,319
99$30,535,942$1,983,872$189,009$25,780,854
100$33,547,803$1,978,277$92,536$28,287,198