Can I retire at age 62 with 1,270,000?

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 $1,270,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$104,875$103,941$103,030$102,140$101,272$99,965
2 years$51,919$50,952$50,014$49,106$48,225$46,910
3 years$34,269$33,297$32,363$31,463$30,596$29,314
4 years$25,445$24,477$23,552$22,667$21,821$20,582
5 years$20,153$19,190$18,277$17,410$16,588$15,395
6 years$16,625$15,670$14,771$13,923$13,126$11,981
7 years$14,107$13,160$12,274$11,447$10,675$9,578
8 years$12,219$11,281$10,410$9,603$8,856$7,807
9 years$10,751$9,822$8,966$8,179$7,458$6,457
10 years$9,578$8,657$7,817$7,051$6,354$5,401
11 years$8,618$7,707$6,882$6,136$5,465$4,558
12 years$7,819$6,918$6,107$5,382$4,736$3,873
13 years$7,144$6,251$5,456$4,752$4,130$3,311
14 years$6,565$5,682$4,903$4,218$3,620$2,845
15 years$6,064$5,191$4,426$3,762$3,187$2,453
16 years$5,627$4,763$4,013$3,368$2,817$2,123
17 years$5,241$4,386$3,652$3,026$2,498$1,843
18 years$4,898$4,053$3,334$2,727$2,221$1,603
19 years$4,592$3,756$3,052$2,464$1,980$1,398
20 years$4,316$3,491$2,801$2,232$1,768$1,221
21 years$4,068$3,251$2,576$2,026$1,582$1,068
22 years$3,842$3,035$2,374$1,842$1,418$935
23 years$3,636$2,839$2,192$1,677$1,273$820
24 years$3,447$2,660$2,028$1,530$1,144$720
25 years$3,274$2,496$1,878$1,397$1,030$632
26 years$3,115$2,346$1,742$1,277$928$556
27 years$2,967$2,208$1,617$1,169$836$489
28 years$2,831$2,080$1,503$1,071$755$431
29 years$2,704$1,962$1,399$982$681$379
30 years$2,585$1,853$1,303$902$616$334
31 years$2,475$1,752$1,215$828$557$295
32 years$2,371$1,658$1,134$761$503$260
33 years$2,274$1,570$1,058$700$456$229
34 years$2,183$1,488$989$644$413$202
35 years$2,098$1,411$925$593$374$179
36 years$2,017$1,339$865$546$339$158
37 years$1,941$1,272$810$503$307$139
38 years$1,869$1,209$758$464$278$123
39 years$1,801$1,150$710$427$252$109
40 years$1,736$1,094$666$394$229$96
41 years$1,675$1,041$624$364$208$85
42 years$1,617$992$586$336$188$75
43 years$1,562$945$549$310$171$66
44 years$1,509$901$516$286$155$58
45 years$1,459$859$484$264$141$52
46 years$1,411$819$455$244$128$46
47 years$1,365$782$427$226$116$40
48 years$1,322$746$402$208$105$36
49 years$1,280$713$377$193$96$32
50 years$1,240$681$355$178$87$28

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,270,000, adding $3,002 every year, while hoping to spend $56,512 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: 75/17/8 Blend
61$1,270,000$1,270,000$1,270,000$1,270,000
62$1,402,637$1,335,327$1,315,642$1,505,914
63$1,485,577$1,340,629$1,299,587$1,579,616
64$1,575,084$1,344,298$1,281,101$1,652,884
65$1,671,766$1,346,192$1,260,042$1,731,560
66$1,776,295$1,346,164$1,236,262$1,816,158
67$1,889,407$1,344,056$1,209,607$1,907,248
68$2,011,912$1,339,701$1,179,914$2,005,454
69$2,144,701$1,332,920$1,147,015$2,111,468
70$2,288,753$1,323,526$1,110,733$2,226,052
71$2,445,146$1,311,318$1,070,882$2,350,044
72$2,615,062$1,296,084$1,027,268$2,484,370
73$2,799,807$1,277,600$979,690$2,630,050
74$3,000,812$1,255,628$927,935$2,788,210
75$3,219,656$1,229,915$871,781$2,960,090
76$3,458,074$1,200,194$810,999$3,147,057
77$3,717,976$1,166,182$745,346$3,350,621
78$4,001,464$1,127,580$674,570$3,572,444
79$4,310,853$1,084,070$598,407$3,814,361
80$4,648,687$1,035,317$516,581$4,078,394
81$5,017,772$980,966$428,805$4,366,774
82$5,421,193$920,642$334,779$4,681,959
83$5,862,350$853,948$234,188$5,026,663
84$6,344,982$780,464$126,706$5,403,876
85$6,873,209$699,746$11,991$5,816,895
86$7,451,569$611,326$0$6,269,357
87$8,085,056$514,708$0$6,774,698
88$8,779,172$409,369$0$7,329,619
89$9,539,975$294,755$0$7,938,004
90$10,374,138$170,284$0$8,605,263
91$11,289,009$35,337$0$9,337,360
92$12,292,684$0$0$10,140,870
93$13,394,078$0$0$11,043,753
94$14,603,011$0$0$12,042,104
95$15,930,302$0$0$13,138,250
96$17,387,866$0$0$14,342,040
97$18,988,832$0$0$15,664,324
98$20,747,659$0$0$17,117,051
99$22,680,278$0$0$18,713,388
100$24,804,240$0$0$20,467,839