Can I retire at age 62 with 1,150,000?

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 $1,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$94,966$94,120$93,295$92,489$91,703$89,595
2 years$47,013$46,137$45,289$44,466$43,668$41,556
3 years$31,031$30,151$29,305$28,490$27,705$25,655
4 years$23,041$22,164$21,326$20,525$19,759$17,787
5 years$18,248$17,377$16,550$15,765$15,021$13,131
6 years$15,055$14,190$13,375$12,608$11,885$10,081
7 years$12,774$11,916$11,115$10,365$9,666$7,947
8 years$11,064$10,215$9,426$8,695$8,019$6,385
9 years$9,735$8,894$8,119$7,407$6,753$5,203
10 years$8,673$7,839$7,078$6,384$5,754$4,285
11 years$7,804$6,979$6,231$5,556$4,949$3,560
12 years$7,081$6,264$5,530$4,874$4,288$2,977
13 years$6,469$5,661$4,941$4,303$3,739$2,503
14 years$5,945$5,145$4,439$3,820$3,278$2,114
15 years$5,491$4,700$4,008$3,406$2,886$1,792
16 years$5,095$4,313$3,634$3,050$2,551$1,524
17 years$4,745$3,972$3,307$2,740$2,262$1,299
18 years$4,435$3,670$3,019$2,470$2,011$1,110
19 years$4,158$3,401$2,763$2,232$1,792$950
20 years$3,908$3,161$2,536$2,021$1,601$814
21 years$3,683$2,944$2,333$1,834$1,433$699
22 years$3,479$2,748$2,150$1,668$1,284$601
23 years$3,292$2,570$1,985$1,519$1,153$517
24 years$3,122$2,408$1,836$1,385$1,036$445
25 years$2,965$2,260$1,700$1,265$932$383
26 years$2,820$2,124$1,577$1,157$840$330
27 years$2,687$1,999$1,464$1,059$757$285
28 years$2,563$1,884$1,361$970$683$246
29 years$2,448$1,777$1,267$890$617$212
30 years$2,341$1,678$1,180$816$557$183
31 years$2,241$1,586$1,100$750$504$158
32 years$2,147$1,501$1,026$689$456$136
33 years$2,059$1,422$958$634$413$118
34 years$1,977$1,347$895$583$374$102
35 years$1,900$1,278$837$537$338$88
36 years$1,826$1,213$783$494$307$76
37 years$1,758$1,152$733$455$278$66
38 years$1,692$1,095$686$420$252$57
39 years$1,631$1,041$643$387$228$49
40 years$1,572$990$603$357$207$43
41 years$1,517$943$565$329$188$37
42 years$1,464$898$530$304$171$32
43 years$1,414$856$498$281$155$27
44 years$1,366$816$467$259$141$24
45 years$1,321$778$439$239$128$21
46 years$1,278$742$412$221$116$18
47 years$1,236$708$387$204$105$15
48 years$1,197$676$364$189$96$13
49 years$1,159$645$342$174$87$12
50 years$1,123$617$321$161$79$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,150,000, adding $6,368 every year, while hoping to spend $41,289 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: 34/37/29 Blend
61$1,150,000$1,150,000$1,150,000$1,150,000
62$1,273,869$1,212,919$1,195,094$1,305,840
63$1,359,872$1,228,420$1,191,198$1,346,070
64$1,453,264$1,243,298$1,185,788$1,385,302
65$1,554,754$1,257,477$1,178,770$1,426,818
66$1,665,125$1,270,879$1,170,044$1,470,849
67$1,785,234$1,283,418$1,159,506$1,517,656
68$1,916,027$1,295,006$1,147,050$1,567,523
69$2,058,546$1,305,545$1,132,560$1,620,771
70$2,213,935$1,314,933$1,115,918$1,677,752
71$2,383,454$1,323,063$1,096,998$1,738,860
72$2,568,490$1,329,817$1,075,672$1,804,530
73$2,770,571$1,335,073$1,051,802$1,875,245
74$2,991,377$1,338,699$1,025,245$1,951,543
75$3,232,758$1,340,556$995,852$2,034,017
76$3,496,753$1,340,497$963,466$2,123,327
77$3,785,604$1,338,364$927,925$2,220,203
78$4,101,782$1,333,990$889,056$2,325,455
79$4,448,007$1,327,198$846,682$2,439,980
80$4,827,273$1,317,800$800,616$2,564,771
81$5,242,880$1,305,598$750,662$2,700,929
82$5,698,460$1,290,379$696,616$2,849,672
83$6,198,016$1,271,920$638,264$3,012,348
84$6,745,952$1,249,983$575,385$3,190,449
85$7,347,124$1,224,317$507,745$3,385,628
86$8,006,878$1,194,655$435,102$3,599,710
87$8,731,102$1,160,716$357,201$3,834,719
88$9,526,284$1,122,201$273,777$4,092,887
89$10,399,570$1,078,794$184,553$4,376,689
90$11,358,832$1,030,160$89,241$4,688,856
91$12,412,741$975,947$0$5,032,411
92$13,570,852$915,779$0$5,414,554
93$14,843,688$849,261$0$5,864,836
94$16,242,844$775,975$0$6,359,795
95$17,781,095$695,479$0$6,904,045
96$19,472,514$607,305$0$7,502,678
97$21,332,608$510,959$0$8,161,310
98$23,378,458$405,921$0$8,886,138
99$25,628,888$291,638$0$9,684,000
100$28,104,635$167,529$0$10,562,440