Can I retire at age 62 with 1,200,000?

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 $1,200,000?

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$99,095$98,212$97,351$96,510$95,690$93,490
2 years$49,057$48,143$47,258$46,399$45,567$43,363
3 years$32,380$31,462$30,579$29,728$28,909$26,770
4 years$24,043$23,128$22,254$21,418$20,618$18,560
5 years$19,042$18,133$17,270$16,451$15,674$13,702
6 years$15,709$14,807$13,956$13,156$12,402$10,520
7 years$13,329$12,435$11,598$10,816$10,086$8,293
8 years$11,546$10,659$9,836$9,073$8,367$6,662
9 years$10,159$9,280$8,472$7,729$7,047$5,429
10 years$9,050$8,180$7,386$6,662$6,004$4,472
11 years$8,143$7,282$6,502$5,798$5,164$3,714
12 years$7,388$6,536$5,771$5,086$4,475$3,106
13 years$6,750$5,907$5,156$4,490$3,902$2,612
14 years$6,204$5,369$4,632$3,986$3,421$2,206
15 years$5,730$4,905$4,182$3,554$3,012$1,870
16 years$5,316$4,500$3,792$3,183$2,662$1,590
17 years$4,952$4,144$3,451$2,860$2,360$1,356
18 years$4,628$3,830$3,150$2,577$2,098$1,158
19 years$4,339$3,549$2,884$2,329$1,870$991
20 years$4,078$3,298$2,646$2,109$1,671$850
21 years$3,843$3,072$2,434$1,914$1,495$729
22 years$3,630$2,868$2,244$1,740$1,340$627
23 years$3,435$2,682$2,071$1,585$1,203$539
24 years$3,257$2,513$1,916$1,446$1,081$464
25 years$3,094$2,358$1,774$1,320$973$400
26 years$2,943$2,216$1,646$1,207$876$344
27 years$2,804$2,086$1,528$1,105$790$297
28 years$2,675$1,966$1,421$1,012$713$256
29 years$2,555$1,854$1,322$928$644$221
30 years$2,443$1,751$1,231$852$582$191
31 years$2,338$1,655$1,148$782$526$165
32 years$2,241$1,566$1,071$719$476$142
33 years$2,149$1,483$1,000$661$431$123
34 years$2,063$1,406$934$608$390$106
35 years$1,982$1,333$874$560$353$92
36 years$1,906$1,266$817$516$320$79
37 years$1,834$1,202$765$475$290$69
38 years$1,766$1,142$716$438$263$59
39 years$1,702$1,086$671$404$238$51
40 years$1,641$1,034$629$373$216$44
41 years$1,583$984$590$344$196$38
42 years$1,528$937$553$317$178$33
43 years$1,476$893$519$293$162$29
44 years$1,426$851$487$270$147$25
45 years$1,378$811$458$250$133$21
46 years$1,333$774$430$231$121$19
47 years$1,290$739$404$213$110$16
48 years$1,249$705$379$197$100$14
49 years$1,209$673$357$182$91$12
50 years$1,172$643$335$168$82$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,200,000, adding $5,926 every year, while hoping to spend $35,898 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: 58/35/7 Blend
61$1,200,000$1,200,000$1,200,000$1,200,000
62$1,328,513$1,264,913$1,246,313$1,403,229
63$1,425,826$1,288,698$1,249,869$1,477,902
64$1,531,862$1,312,446$1,252,341$1,554,669
65$1,647,472$1,336,117$1,253,655$1,637,446
66$1,773,595$1,359,667$1,253,733$1,726,811
67$1,911,261$1,383,050$1,252,493$1,823,401
68$2,061,608$1,406,218$1,249,850$1,927,919
69$2,225,885$1,429,115$1,245,713$2,041,136
70$2,405,469$1,451,686$1,239,988$2,163,906
71$2,601,876$1,473,867$1,232,576$2,297,166
72$2,816,774$1,495,594$1,223,374$2,441,953
73$3,052,001$1,516,794$1,212,274$2,599,407
74$3,309,581$1,537,393$1,199,161$2,770,785
75$3,591,742$1,557,309$1,183,916$2,957,473
76$3,900,938$1,576,455$1,166,415$3,160,999
77$4,239,870$1,594,738$1,146,527$3,383,047
78$4,611,517$1,612,060$1,124,116$3,625,473
79$5,019,156$1,628,315$1,099,038$3,890,324
80$5,466,398$1,643,390$1,071,143$4,179,855
81$5,957,220$1,657,166$1,040,276$4,496,554
82$6,496,003$1,669,514$1,006,272$4,843,162
83$7,087,573$1,680,298$968,960$5,222,700
84$7,737,246$1,689,373$928,161$5,638,502
85$8,450,879$1,696,586$883,688$6,094,239
86$9,234,921$1,701,771$835,344$6,593,961
87$10,096,480$1,704,755$782,925$7,142,132
88$11,043,386$1,705,353$726,218$7,743,672
89$12,084,263$1,703,368$664,999$8,404,007
90$13,228,616$1,698,590$599,033$9,129,117
91$14,486,912$1,690,799$528,079$9,925,595
92$15,870,688$1,679,759$451,880$10,800,708
93$17,392,651$1,665,220$370,171$11,762,470
94$19,066,804$1,646,918$282,674$12,819,712
95$20,908,574$1,624,573$189,100$13,982,171
96$22,934,958$1,597,886$89,144$15,260,581
97$25,164,686$1,566,545$0$16,666,774
98$27,618,392$1,530,213$0$18,215,103
99$30,318,813$1,488,539$0$19,925,826
100$33,291,003$1,441,149$0$21,808,155