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

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 $1,260,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$104,050$103,123$102,219$101,336$100,474$98,165
2 years$51,510$50,550$49,621$48,719$47,845$45,531
3 years$33,999$33,035$32,108$31,215$30,355$28,109
4 years$25,245$24,284$23,366$22,489$21,649$19,488
5 years$19,994$19,039$18,133$17,273$16,457$14,387
6 years$16,495$15,547$14,654$13,814$13,022$11,046
7 years$13,996$13,056$12,178$11,357$10,591$8,707
8 years$12,123$11,192$10,328$9,527$8,786$6,996
9 years$10,667$9,744$8,895$8,115$7,399$5,700
10 years$9,502$8,589$7,755$6,995$6,304$4,695
11 years$8,551$7,646$6,827$6,088$5,422$3,900
12 years$7,758$6,863$6,059$5,340$4,699$3,262
13 years$7,088$6,202$5,414$4,714$4,097$2,743
14 years$6,514$5,638$4,864$4,185$3,592$2,317
15 years$6,017$5,150$4,392$3,732$3,162$1,964
16 years$5,582$4,725$3,982$3,342$2,795$1,670
17 years$5,199$4,352$3,623$3,003$2,478$1,424
18 years$4,859$4,021$3,307$2,706$2,203$1,216
19 years$4,555$3,727$3,028$2,445$1,964$1,041
20 years$4,282$3,463$2,779$2,214$1,754$892
21 years$4,036$3,226$2,556$2,010$1,570$766
22 years$3,811$3,011$2,356$1,827$1,407$658
23 years$3,607$2,816$2,175$1,664$1,263$566
24 years$3,420$2,639$2,012$1,518$1,135$487
25 years$3,248$2,476$1,863$1,386$1,022$420
26 years$3,090$2,327$1,728$1,267$920$362
27 years$2,944$2,190$1,605$1,160$830$312
28 years$2,808$2,064$1,492$1,063$749$269
29 years$2,682$1,947$1,388$975$676$232
30 years$2,565$1,839$1,293$895$611$200
31 years$2,455$1,738$1,205$822$552$173
32 years$2,353$1,645$1,125$755$500$150
33 years$2,256$1,558$1,050$694$452$129
34 years$2,166$1,476$981$639$409$112
35 years$2,081$1,400$917$588$371$96
36 years$2,001$1,329$858$542$336$83
37 years$1,926$1,262$803$499$304$72
38 years$1,854$1,200$752$460$276$62
39 years$1,787$1,141$705$424$250$54
40 years$1,723$1,085$660$391$227$47
41 years$1,662$1,033$619$361$206$40
42 years$1,604$984$581$333$187$35
43 years$1,549$937$545$307$170$30
44 years$1,497$894$512$284$154$26
45 years$1,447$852$480$262$140$23
46 years$1,400$813$451$242$127$19
47 years$1,355$776$424$224$115$17
48 years$1,311$740$398$207$105$15
49 years$1,270$707$374$191$95$13
50 years$1,230$675$352$177$86$11

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 $2,765 every year, while hoping to spend $47,455 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: 25/48/27 Blend
61$1,260,000$1,260,000$1,260,000$1,260,000
62$1,391,372$1,324,592$1,305,062$1,414,287
63$1,482,800$1,339,005$1,298,290$1,447,941
64$1,581,964$1,352,534$1,289,700$1,479,768
65$1,689,601$1,365,086$1,279,183$1,512,902
66$1,806,525$1,376,560$1,266,620$1,547,485
67$1,933,630$1,386,851$1,251,891$1,583,675
68$2,071,899$1,395,845$1,234,868$1,621,652
69$2,222,415$1,403,423$1,215,418$1,661,614
70$2,386,367$1,409,456$1,193,400$1,703,788
71$2,565,065$1,413,809$1,168,668$1,748,425
72$2,759,953$1,416,337$1,141,070$1,795,807
73$2,972,617$1,416,886$1,110,445$1,846,248
74$3,204,804$1,415,293$1,076,624$1,900,102
75$3,458,437$1,411,385$1,039,434$1,957,763
76$3,735,632$1,404,978$998,690$2,019,668
77$4,038,721$1,395,877$954,201$2,086,311
78$4,370,270$1,383,875$905,766$2,158,236
79$4,733,105$1,368,751$853,176$2,236,054
80$5,130,336$1,350,274$796,212$2,320,444
81$5,565,390$1,328,198$734,645$2,412,162
82$6,042,040$1,302,260$668,235$2,512,049
83$6,564,441$1,272,183$596,734$2,621,041
84$7,137,170$1,237,676$519,881$2,740,178
85$7,765,266$1,198,427$437,402$2,870,618
86$8,454,282$1,154,108$349,013$3,013,645
87$9,210,331$1,104,372$254,417$3,170,685
88$10,040,149$1,048,851$153,305$3,343,324
89$10,951,155$987,156$45,352$3,533,318
90$11,951,522$918,875$0$3,742,618
91$13,050,251$843,574$0$3,993,511
92$14,257,261$760,793$0$4,283,523
93$15,583,476$670,046$0$4,602,338
94$17,040,932$570,820$0$4,953,014
95$18,642,888$462,572$0$5,338,928
96$20,403,953$344,728$0$5,763,817
97$22,340,221$216,685$0$6,231,808
98$24,469,423$77,801$0$6,747,464
99$26,811,094$0$0$7,315,825
100$29,386,758$0$0$7,980,807