Can I retire at age 62 with 1,260,000?

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 $1,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$104,050$103,123$102,219$101,336$100,474$97,728
2 years$51,510$50,550$49,621$48,719$47,845$45,098
3 years$33,999$33,035$32,108$31,215$30,355$27,694
4 years$25,245$24,284$23,366$22,489$21,649$19,094
5 years$19,994$19,039$18,133$17,273$16,457$14,015
6 years$16,495$15,547$14,654$13,814$13,022$10,695
7 years$13,996$13,056$12,178$11,357$10,591$8,379
8 years$12,123$11,192$10,328$9,527$8,786$6,689
9 years$10,667$9,744$8,895$8,115$7,399$5,414
10 years$9,502$8,589$7,755$6,995$6,304$4,429
11 years$8,551$7,646$6,827$6,088$5,422$3,653
12 years$7,758$6,863$6,059$5,340$4,699$3,033
13 years$7,088$6,202$5,414$4,714$4,097$2,532
14 years$6,514$5,638$4,864$4,185$3,592$2,122
15 years$6,017$5,150$4,392$3,732$3,162$1,786
16 years$5,582$4,725$3,982$3,342$2,795$1,506
17 years$5,199$4,352$3,623$3,003$2,478$1,274
18 years$4,859$4,021$3,307$2,706$2,203$1,080
19 years$4,555$3,727$3,028$2,445$1,964$916
20 years$4,282$3,463$2,779$2,214$1,754$779
21 years$4,036$3,226$2,556$2,010$1,570$663
22 years$3,811$3,011$2,356$1,827$1,407$565
23 years$3,607$2,816$2,175$1,664$1,263$482
24 years$3,420$2,639$2,012$1,518$1,135$411
25 years$3,248$2,476$1,863$1,386$1,022$351
26 years$3,090$2,327$1,728$1,267$920$300
27 years$2,944$2,190$1,605$1,160$830$256
28 years$2,808$2,064$1,492$1,063$749$219
29 years$2,682$1,947$1,388$975$676$187
30 years$2,565$1,839$1,293$895$611$160
31 years$2,455$1,738$1,205$822$552$137
32 years$2,353$1,645$1,125$755$500$117
33 years$2,256$1,558$1,050$694$452$100
34 years$2,166$1,476$981$639$409$86
35 years$2,081$1,400$917$588$371$74
36 years$2,001$1,329$858$542$336$63
37 years$1,926$1,262$803$499$304$54
38 years$1,854$1,200$752$460$276$46
39 years$1,787$1,141$705$424$250$40
40 years$1,723$1,085$660$391$227$34
41 years$1,662$1,033$619$361$206$29
42 years$1,604$984$581$333$187$25
43 years$1,549$937$545$307$170$21
44 years$1,497$894$512$284$154$18
45 years$1,447$852$480$262$140$16
46 years$1,400$813$451$242$127$13
47 years$1,355$776$424$224$115$12
48 years$1,311$740$398$207$105$10
49 years$1,270$707$374$191$95$8
50 years$1,230$675$352$177$86$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,260,000, adding $5,599 every year, while hoping to spend $58,853 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: 45/49/6 Blend
61$1,260,000$1,260,000$1,260,000$1,260,000
62$1,394,295$1,327,515$1,307,985$1,454,480
63$1,473,894$1,329,944$1,289,184$1,498,955
64$1,559,640$1,330,520$1,267,780$1,540,587
65$1,652,097$1,329,089$1,243,624$1,584,349
66$1,751,886$1,325,490$1,216,561$1,630,457
67$1,859,688$1,319,549$1,186,425$1,679,149
68$1,976,254$1,311,084$1,153,048$1,730,694
69$2,102,405$1,299,901$1,116,249$1,785,388
70$2,239,048$1,285,794$1,075,841$1,843,563
71$2,387,179$1,268,545$1,031,629$1,905,590
72$2,547,890$1,247,922$983,407$1,971,878
73$2,722,386$1,223,682$930,963$2,042,886
74$2,911,991$1,195,564$874,072$2,119,124
75$3,118,162$1,163,294$812,501$2,201,159
76$3,342,500$1,126,581$746,005$2,289,619
77$3,586,768$1,085,117$674,329$2,385,207
78$3,852,907$1,038,576$597,208$2,488,699
79$4,143,051$986,614$514,362$2,600,961
80$4,459,549$928,866$425,501$2,722,952
81$4,804,989$864,946$330,321$2,855,739
82$5,182,217$794,447$228,505$3,000,503
83$5,594,366$716,938$119,723$3,158,557
84$6,044,886$631,963$3,628$3,331,357
85$6,537,576$539,040$0$3,520,516
86$7,076,618$437,663$0$3,735,524
87$7,666,617$327,292$0$3,971,413
88$8,312,644$207,361$0$4,230,173
89$9,020,282$77,270$0$4,514,265
90$9,795,681$0$0$4,826,414
91$10,645,615$0$0$5,203,935
92$11,577,540$0$0$5,663,708
93$12,599,674$0$0$6,168,139
94$13,721,063$0$0$6,721,715
95$14,951,675$0$0$7,329,375
96$16,302,489$0$0$7,996,561
97$17,785,596$0$0$8,729,267
98$19,414,318$0$0$9,534,096
99$21,203,329$0$0$10,418,322
100$23,168,795$0$0$11,389,960