Can I retire at age 62 with 1,210,000?

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 $1,210,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$99,921$99,031$98,162$97,315$96,487$94,500
2 years$49,466$48,544$47,652$46,786$45,946$43,954
3 years$32,650$31,724$30,834$29,976$29,150$27,214
4 years$24,243$23,321$22,439$21,596$20,790$18,925
5 years$19,201$18,284$17,414$16,588$15,804$14,016
6 years$15,840$14,930$14,073$13,265$12,505$10,795
7 years$13,441$12,538$11,695$10,906$10,170$8,539
8 years$11,642$10,748$9,918$9,149$8,437$6,884
9 years$10,243$9,358$8,542$7,793$7,105$5,630
10 years$9,125$8,248$7,447$6,718$6,054$4,654
11 years$8,211$7,343$6,557$5,846$5,207$3,881
12 years$7,450$6,591$5,819$5,128$4,512$3,258
13 years$6,806$5,956$5,199$4,527$3,935$2,751
14 years$6,255$5,414$4,671$4,019$3,449$2,333
15 years$5,778$4,946$4,217$3,584$3,037$1,986
16 years$5,361$4,538$3,824$3,209$2,684$1,696
17 years$4,993$4,179$3,479$2,883$2,380$1,452
18 years$4,667$3,862$3,176$2,599$2,116$1,246
19 years$4,375$3,579$2,908$2,348$1,886$1,071
20 years$4,112$3,326$2,668$2,127$1,685$922
21 years$3,875$3,098$2,455$1,930$1,508$795
22 years$3,660$2,892$2,262$1,755$1,351$687
23 years$3,464$2,704$2,089$1,598$1,213$593
24 years$3,285$2,534$1,932$1,458$1,090$513
25 years$3,120$2,378$1,789$1,331$981$444
26 years$2,968$2,235$1,659$1,217$884$385
27 years$2,827$2,103$1,541$1,114$797$333
28 years$2,697$1,982$1,432$1,021$719$289
29 years$2,576$1,870$1,333$936$649$251
30 years$2,463$1,766$1,242$859$587$217
31 years$2,358$1,669$1,158$789$530$189
32 years$2,259$1,579$1,080$725$480$164
33 years$2,167$1,496$1,008$667$434$142
34 years$2,080$1,418$942$613$393$123
35 years$1,999$1,345$881$565$356$107
36 years$1,922$1,276$824$520$323$93
37 years$1,849$1,212$771$479$292$81
38 years$1,781$1,152$722$442$265$70
39 years$1,716$1,095$677$407$240$61
40 years$1,654$1,042$634$376$218$53
41 years$1,596$992$595$347$198$46
42 years$1,541$945$558$320$179$40
43 years$1,488$900$524$295$163$35
44 years$1,438$858$491$273$148$30
45 years$1,390$818$461$252$134$26
46 years$1,344$781$433$233$122$23
47 years$1,301$745$407$215$111$20
48 years$1,259$711$383$199$100$17
49 years$1,219$679$360$183$91$15
50 years$1,181$649$338$170$83$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,210,000, adding $3,716 every year, while hoping to spend $38,962 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: 24/47/29 Blend
61$1,210,000$1,210,000$1,210,000$1,210,000
62$1,337,253$1,273,123$1,254,368$1,357,098
63$1,432,198$1,294,051$1,254,934$1,395,288
64$1,535,521$1,314,698$1,254,213$1,432,654
65$1,648,036$1,335,010$1,252,121$1,471,876
66$1,770,638$1,354,928$1,248,570$1,513,137
67$1,904,312$1,374,389$1,243,466$1,556,639
68$2,050,143$1,393,325$1,236,714$1,602,605
69$2,209,324$1,411,664$1,228,210$1,651,285
70$2,383,168$1,429,329$1,217,848$1,702,957
71$2,573,122$1,446,237$1,205,516$1,757,929
72$2,780,778$1,462,300$1,191,098$1,816,544
73$3,007,888$1,477,423$1,174,471$1,879,182
74$3,256,383$1,491,507$1,155,506$1,946,265
75$3,528,387$1,504,445$1,134,069$2,018,264
76$3,826,242$1,516,121$1,110,019$2,095,697
77$4,152,523$1,526,416$1,083,210$2,179,144
78$4,510,069$1,535,199$1,053,486$2,269,245
79$4,902,005$1,542,333$1,020,687$2,366,711
80$5,331,774$1,547,672$984,644$2,472,328
81$5,803,167$1,551,060$945,182$2,586,972
82$6,320,360$1,552,332$902,116$2,711,609
83$6,887,953$1,551,312$855,253$2,847,312
84$7,511,012$1,547,814$804,391$2,995,270
85$8,195,118$1,541,640$749,322$3,156,796
86$8,946,420$1,532,580$689,824$3,333,349
87$9,771,690$1,520,412$625,667$3,526,541
88$10,678,388$1,504,898$556,613$3,738,156
89$11,674,734$1,485,788$482,410$3,970,171
90$12,769,783$1,462,818$402,797$4,224,770
91$13,973,509$1,435,704$317,499$4,504,372
92$15,296,904$1,404,151$226,232$4,811,650
93$16,752,075$1,367,841$128,698$5,149,563
94$18,352,363$1,326,441$24,585$5,521,381
95$20,112,465$1,279,597$0$5,930,720
96$22,048,574$1,226,935$0$6,408,348
97$24,178,532$1,168,059$0$6,941,771
98$26,521,997$1,102,549$0$7,528,363
99$29,100,630$1,029,963$0$8,173,635
100$31,938,295$949,831$0$8,883,666