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%19.1%
1 years$104,050$103,123$102,219$101,336$100,474$96,794
2 years$51,510$50,550$49,621$48,719$47,845$44,178
3 years$33,999$33,035$32,108$31,215$30,355$26,817
4 years$25,245$24,284$23,366$22,489$21,649$18,267
5 years$19,994$19,039$18,133$17,273$16,457$13,240
6 years$16,495$15,547$14,654$13,814$13,022$9,971
7 years$13,996$13,056$12,178$11,357$10,591$7,706
8 years$12,123$11,192$10,328$9,527$8,786$6,064
9 years$10,667$9,744$8,895$8,115$7,399$4,837
10 years$9,502$8,589$7,755$6,995$6,304$3,898
11 years$8,551$7,646$6,827$6,088$5,422$3,166
12 years$7,758$6,863$6,059$5,340$4,699$2,587
13 years$7,088$6,202$5,414$4,714$4,097$2,125
14 years$6,514$5,638$4,864$4,185$3,592$1,752
15 years$6,017$5,150$4,392$3,732$3,162$1,449
16 years$5,582$4,725$3,982$3,342$2,795$1,201
17 years$5,199$4,352$3,623$3,003$2,478$998
18 years$4,859$4,021$3,307$2,706$2,203$831
19 years$4,555$3,727$3,028$2,445$1,964$693
20 years$4,282$3,463$2,779$2,214$1,754$578
21 years$4,036$3,226$2,556$2,010$1,570$483
22 years$3,811$3,011$2,356$1,827$1,407$404
23 years$3,607$2,816$2,175$1,664$1,263$338
24 years$3,420$2,639$2,012$1,518$1,135$283
25 years$3,248$2,476$1,863$1,386$1,022$237
26 years$3,090$2,327$1,728$1,267$920$199
27 years$2,944$2,190$1,605$1,160$830$166
28 years$2,808$2,064$1,492$1,063$749$140
29 years$2,682$1,947$1,388$975$676$117
30 years$2,565$1,839$1,293$895$611$98
31 years$2,455$1,738$1,205$822$552$82
32 years$2,353$1,645$1,125$755$500$69
33 years$2,256$1,558$1,050$694$452$58
34 years$2,166$1,476$981$639$409$49
35 years$2,081$1,400$917$588$371$41
36 years$2,001$1,329$858$542$336$34
37 years$1,926$1,262$803$499$304$29
38 years$1,854$1,200$752$460$276$24
39 years$1,787$1,141$705$424$250$20
40 years$1,723$1,085$660$391$227$17
41 years$1,662$1,033$619$361$206$14
42 years$1,604$984$581$333$187$12
43 years$1,549$937$545$307$170$10
44 years$1,497$894$512$284$154$8
45 years$1,447$852$480$262$140$7
46 years$1,400$813$451$242$127$6
47 years$1,355$776$424$224$115$5
48 years$1,311$740$398$207$105$4
49 years$1,270$707$374$191$95$4
50 years$1,230$675$352$177$86$3

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 $2,987 every year, while hoping to spend $26,963 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: 76/17/7 Blend
61$1,260,000$1,260,000$1,260,000$1,260,000
62$1,391,601$1,324,821$1,305,291$1,495,909
63$1,504,856$1,361,049$1,320,330$1,601,112
64$1,628,759$1,398,148$1,334,969$1,712,638
65$1,764,368$1,436,133$1,349,166$1,834,097
66$1,912,848$1,475,018$1,362,877$1,966,463
67$2,075,481$1,514,816$1,376,056$2,110,809
68$2,253,680$1,555,542$1,388,653$2,268,318
69$2,448,999$1,597,207$1,400,617$2,440,291
70$2,663,152$1,639,826$1,411,894$2,628,161
71$2,898,027$1,683,410$1,422,425$2,833,506
72$3,155,700$1,727,972$1,432,151$3,058,065
73$3,438,462$1,773,523$1,441,008$3,303,753
74$3,748,832$1,820,073$1,448,929$3,572,677
75$4,089,590$1,867,633$1,455,845$3,867,162
76$4,463,794$1,916,213$1,461,681$4,189,767
77$4,874,814$1,965,820$1,466,361$4,543,308
78$5,326,362$2,016,463$1,469,802$4,930,893
79$5,822,530$2,068,149$1,471,919$5,355,941
80$6,367,823$2,120,883$1,472,623$5,822,220
81$6,967,205$2,174,670$1,471,820$6,333,883
82$7,626,144$2,229,513$1,469,410$6,895,503
83$8,350,666$2,285,415$1,465,290$7,512,119
84$9,147,409$2,342,375$1,459,353$8,189,283
85$10,023,686$2,400,393$1,451,483$8,933,113
86$10,987,556$2,459,466$1,441,561$9,750,348
87$12,047,896$2,519,589$1,429,463$10,648,413
88$13,214,489$2,580,756$1,415,057$11,635,491
89$14,498,112$2,642,958$1,398,207$12,720,598
90$15,910,640$2,706,184$1,378,768$13,913,666
91$17,465,159$2,770,421$1,356,589$15,225,641
92$19,176,085$2,835,651$1,331,515$16,668,584
93$21,059,304$2,901,856$1,303,379$18,255,784
94$23,132,320$2,969,014$1,272,009$20,001,886
95$25,414,420$3,037,099$1,237,225$21,923,024
96$27,926,856$3,106,082$1,198,837$24,036,979
97$30,693,046$3,175,931$1,156,649$26,363,344
98$33,738,793$3,246,608$1,110,453$28,923,709
99$37,092,531$3,318,072$1,060,034$31,741,864
100$40,785,589$3,390,279$1,005,166$34,844,025