Can I retire at age 62 with 1,250,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,250,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$103,224$102,304$101,407$100,532$99,677$95,684
2 years$51,101$50,149$49,227$48,333$47,465$43,493
3 years$33,729$32,773$31,853$30,967$30,114$26,287
4 years$25,045$24,092$23,181$22,310$21,477$17,825
5 years$19,835$18,888$17,989$17,136$16,327$12,858
6 years$16,364$15,424$14,538$13,704$12,919$9,636
7 years$13,885$12,953$12,081$11,267$10,506$7,408
8 years$12,027$11,103$10,246$9,451$8,716$5,799
9 years$10,582$9,667$8,825$8,051$7,340$4,600
10 years$9,427$8,521$7,694$6,940$6,254$3,686
11 years$8,483$7,586$6,773$6,040$5,379$2,976
12 years$7,696$6,809$6,011$5,298$4,661$2,417
13 years$7,031$6,153$5,371$4,677$4,065$1,973
14 years$6,462$5,593$4,825$4,152$3,563$1,616
15 years$5,969$5,109$4,357$3,703$3,137$1,328
16 years$5,538$4,688$3,950$3,315$2,773$1,094
17 years$5,158$4,317$3,594$2,979$2,458$903
18 years$4,821$3,989$3,281$2,684$2,186$747
19 years$4,519$3,697$3,004$2,426$1,948$618
20 years$4,248$3,436$2,757$2,197$1,740$513
21 years$4,004$3,200$2,536$1,994$1,557$425
22 years$3,781$2,987$2,337$1,813$1,396$353
23 years$3,579$2,794$2,158$1,651$1,253$293
24 years$3,393$2,618$1,996$1,506$1,126$244
25 years$3,223$2,457$1,848$1,375$1,014$203
26 years$3,066$2,309$1,714$1,257$913$169
27 years$2,921$2,173$1,592$1,151$823$140
28 years$2,786$2,047$1,480$1,054$743$117
29 years$2,661$1,931$1,377$967$671$97
30 years$2,544$1,824$1,283$887$606$81
31 years$2,436$1,724$1,196$815$548$67
32 years$2,334$1,632$1,116$749$496$56
33 years$2,239$1,545$1,042$689$448$47
34 years$2,149$1,464$973$634$406$39
35 years$2,065$1,389$910$583$368$32
36 years$1,985$1,318$851$537$333$27
37 years$1,910$1,252$797$495$302$23
38 years$1,840$1,190$746$456$274$19
39 years$1,772$1,132$699$421$248$16
40 years$1,709$1,077$655$388$225$13
41 years$1,649$1,025$614$358$204$11
42 years$1,591$976$576$330$185$9
43 years$1,537$930$541$305$168$8
44 years$1,485$886$508$282$153$6
45 years$1,436$845$477$260$139$5
46 years$1,389$806$448$240$126$4
47 years$1,344$770$421$222$114$4
48 years$1,301$735$395$205$104$3
49 years$1,260$702$372$190$94$3
50 years$1,220$670$349$175$86$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,250,000, adding $3,396 every year, while hoping to spend $59,187 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: 42/50/8 Blend
61$1,250,000$1,250,000$1,250,000$1,250,000
62$1,381,003$1,314,753$1,295,378$1,435,628
63$1,458,891$1,316,201$1,275,799$1,475,473
64$1,542,739$1,315,737$1,253,580$1,512,340
65$1,633,094$1,313,204$1,228,570$1,550,907
66$1,730,555$1,308,436$1,200,612$1,591,351
67$1,835,780$1,301,257$1,169,541$1,633,871
68$1,949,491$1,291,481$1,135,182$1,678,690
69$2,072,485$1,278,909$1,097,357$1,726,057
70$2,205,635$1,263,332$1,055,874$1,776,252
71$2,349,901$1,244,527$1,010,538$1,829,585
72$2,506,340$1,222,258$961,140$1,886,405
73$2,676,114$1,196,275$907,465$1,947,101
74$2,860,499$1,166,315$849,287$2,012,107
75$3,060,902$1,132,096$786,370$2,081,907
76$3,278,868$1,093,322$718,467$2,157,041
77$3,516,097$1,049,680$645,321$2,238,109
78$3,774,461$1,000,836$566,661$2,325,783
79$4,056,020$946,441$482,208$2,420,808
80$4,363,040$886,122$391,668$2,524,015
81$4,698,015$819,487$294,733$2,636,325
82$5,063,690$746,120$191,085$2,758,766
83$5,463,089$665,582$80,388$2,892,479
84$5,899,537$577,409$0$3,038,733
85$6,376,699$481,110$0$3,202,156
86$6,898,606$376,169$0$3,388,624
87$7,469,699$262,037$0$3,593,036
88$8,094,869$138,137$0$3,817,351
89$8,779,498$3,858$0$4,063,741
90$9,529,517$0$0$4,334,613
91$10,351,454$0$0$4,710,454
92$11,252,502$0$0$5,124,955
93$12,240,580$0$0$5,579,658
94$13,324,413$0$0$6,078,597
95$14,513,608$0$0$6,626,218
96$15,818,749$0$0$7,227,415
97$17,251,495$0$0$7,887,581
98$18,824,687$0$0$8,612,659
99$20,552,470$0$0$9,409,191
100$22,450,429$0$0$10,284,388