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%17%
1 years$94,140$93,302$92,483$91,685$90,905$88,314
2 years$46,604$45,736$44,895$44,079$43,288$40,698
3 years$30,761$29,889$29,050$28,242$27,464$24,955
4 years$22,841$21,972$21,141$20,347$19,587$17,180
5 years$18,090$17,226$16,406$15,628$14,890$12,590
6 years$14,924$14,066$13,259$12,498$11,782$9,592
7 years$12,663$11,813$11,018$10,275$9,582$7,502
8 years$10,968$10,126$9,344$8,620$7,949$5,978
9 years$9,651$8,816$8,048$7,342$6,694$4,830
10 years$8,597$7,771$7,017$6,329$5,704$3,944
11 years$7,736$6,918$6,177$5,508$4,906$3,247
12 years$7,019$6,209$5,482$4,831$4,251$2,691
13 years$6,413$5,612$4,898$4,265$3,707$2,241
14 years$5,893$5,101$4,401$3,786$3,250$1,875
15 years$5,444$4,660$3,973$3,377$2,861$1,574
16 years$5,051$4,275$3,602$3,023$2,529$1,325
17 years$4,704$3,937$3,278$2,717$2,242$1,118
18 years$4,397$3,638$2,992$2,448$1,994$945
19 years$4,122$3,372$2,739$2,212$1,777$801
20 years$3,874$3,133$2,514$2,004$1,587$679
21 years$3,651$2,918$2,313$1,818$1,420$577
22 years$3,448$2,724$2,131$1,653$1,273$490
23 years$3,264$2,548$1,968$1,506$1,143$417
24 years$3,094$2,387$1,820$1,373$1,027$355
25 years$2,939$2,240$1,686$1,254$924$302
26 years$2,796$2,106$1,563$1,147$833$258
27 years$2,664$1,982$1,452$1,050$751$220
28 years$2,541$1,867$1,350$962$677$187
29 years$2,427$1,762$1,256$882$612$160
30 years$2,321$1,664$1,170$809$553$136
31 years$2,221$1,573$1,091$743$500$116
32 years$2,129$1,488$1,018$683$452$99
33 years$2,042$1,409$950$628$409$85
34 years$1,960$1,336$888$578$370$72
35 years$1,883$1,267$830$532$335$62
36 years$1,811$1,202$776$490$304$53
37 years$1,742$1,142$727$451$275$45
38 years$1,678$1,085$681$416$250$39
39 years$1,616$1,032$638$384$226$33
40 years$1,559$982$598$354$205$28
41 years$1,504$935$560$327$186$24
42 years$1,451$890$526$301$169$21
43 years$1,402$848$493$278$153$18
44 years$1,354$808$463$257$139$15
45 years$1,309$771$435$237$126$13
46 years$1,267$735$408$219$115$11
47 years$1,226$702$384$202$104$9
48 years$1,186$670$360$187$95$8
49 years$1,149$640$339$173$86$7
50 years$1,113$611$319$160$78$6

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 $4,697 every year, while hoping to spend $33,766 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: 50/30/20 Blend
61$1,140,000$1,140,000$1,140,000$1,140,000
62$1,261,125$1,200,705$1,183,035$1,316,924
63$1,353,833$1,223,613$1,186,740$1,378,933
64$1,454,865$1,246,511$1,189,437$1,442,448
65$1,565,036$1,269,365$1,191,058$1,510,763
66$1,685,240$1,292,134$1,191,528$1,584,345
67$1,816,462$1,314,776$1,190,772$1,663,708
68$1,959,788$1,337,247$1,188,710$1,749,419
69$2,116,412$1,359,497$1,185,257$1,842,103
70$2,287,648$1,381,475$1,180,326$1,942,449
71$2,474,944$1,403,123$1,173,823$2,051,220
72$2,679,894$1,424,382$1,165,651$2,169,254
73$2,904,253$1,445,187$1,155,710$2,297,476
74$3,149,954$1,465,467$1,143,893$2,436,908
75$3,419,124$1,485,150$1,130,088$2,588,677
76$3,714,107$1,504,155$1,114,179$2,754,024
77$4,037,485$1,522,398$1,096,043$2,934,320
78$4,392,100$1,539,787$1,075,552$3,131,077
79$4,781,085$1,556,227$1,052,573$3,345,961
80$5,207,886$1,571,613$1,026,966$3,580,813
81$5,676,305$1,585,836$998,583$3,837,659
82$6,190,524$1,598,778$967,271$4,118,738
83$6,755,153$1,610,314$932,871$4,426,516
84$7,375,270$1,620,311$895,214$4,763,715
85$8,056,469$1,628,627$854,124$5,133,337
86$8,804,911$1,635,112$809,420$5,538,691
87$9,627,384$1,639,605$760,908$5,983,427
88$10,531,368$1,641,936$708,388$6,471,572
89$11,525,100$1,641,923$651,652$7,007,566
90$12,617,659$1,639,376$590,481$7,596,303
91$13,819,043$1,634,089$524,646$8,243,184
92$15,140,273$1,625,846$453,908$8,954,161
93$16,593,485$1,614,417$378,019$9,735,799
94$18,192,056$1,599,559$296,718$10,595,339
95$19,950,721$1,581,013$209,733$11,540,762
96$21,885,717$1,558,505$116,782$12,580,869
97$24,014,934$1,531,745$17,567$13,725,366
98$26,358,081$1,500,425$0$14,984,953
99$28,936,879$1,464,220$0$16,390,274
100$31,775,259$1,422,784$0$17,940,717