Can I retire at age 62 with 1,290,000?

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 $1,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$106,527$105,578$104,652$103,749$102,866$101,877
2 years$52,736$51,754$50,802$49,879$48,984$47,987
3 years$34,808$33,822$32,872$31,958$31,077$30,104
4 years$25,846$24,863$23,923$23,024$22,165$21,223
5 years$20,470$19,493$18,565$17,685$16,849$15,941
6 years$16,887$15,917$15,003$14,143$13,332$12,459
7 years$14,329$13,367$12,468$11,627$10,843$10,005
8 years$12,411$11,458$10,574$9,754$8,995$8,193
9 years$10,921$9,976$9,107$8,308$7,575$6,808
10 years$9,729$8,794$7,940$7,162$6,454$5,722
11 years$8,754$7,829$6,990$6,233$5,551$4,852
12 years$7,943$7,026$6,203$5,467$4,810$4,145
13 years$7,256$6,350$5,542$4,827$4,195$3,562
14 years$6,669$5,772$4,980$4,284$3,677$3,076
15 years$6,160$5,273$4,496$3,821$3,238$2,667
16 years$5,715$4,838$4,076$3,421$2,861$2,321
17 years$5,323$4,455$3,709$3,074$2,537$2,026
18 years$4,975$4,117$3,386$2,770$2,256$1,773
19 years$4,664$3,815$3,100$2,503$2,011$1,554
20 years$4,384$3,545$2,845$2,267$1,796$1,366
21 years$4,132$3,302$2,617$2,058$1,607$1,202
22 years$3,902$3,083$2,412$1,871$1,441$1,059
23 years$3,693$2,883$2,227$1,704$1,293$934
24 years$3,502$2,701$2,059$1,554$1,162$825
25 years$3,326$2,535$1,907$1,419$1,046$730
26 years$3,164$2,383$1,769$1,298$942$646
27 years$3,014$2,242$1,643$1,188$849$572
28 years$2,875$2,113$1,527$1,088$766$506
29 years$2,746$1,993$1,421$998$692$449
30 years$2,626$1,882$1,324$916$625$398
31 years$2,514$1,780$1,234$841$565$353
32 years$2,409$1,684$1,151$773$511$314
33 years$2,310$1,595$1,075$711$463$279
34 years$2,218$1,511$1,004$654$419$247
35 years$2,131$1,433$939$602$380$220
36 years$2,049$1,361$879$555$344$195
37 years$1,971$1,292$822$511$312$174
38 years$1,898$1,228$770$471$283$154
39 years$1,829$1,168$721$434$256$137
40 years$1,764$1,111$676$400$232$122
41 years$1,701$1,058$634$370$211$109
42 years$1,642$1,007$595$341$191$97
43 years$1,586$960$558$315$174$86
44 years$1,533$915$524$291$158$77
45 years$1,482$872$492$268$143$68
46 years$1,433$832$462$248$130$61
47 years$1,387$794$434$229$118$54
48 years$1,342$758$408$212$107$48
49 years$1,300$724$383$196$97$43
50 years$1,259$692$360$181$88$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,290,000, adding $2,539 every year, while hoping to spend $36,679 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: 71/6/23 Blend
61$1,290,000$1,290,000$1,290,000$1,290,000
62$1,424,199$1,355,829$1,335,834$1,516,975
63$1,530,441$1,383,238$1,341,558$1,606,646
64$1,646,291$1,410,762$1,346,245$1,700,237
65$1,772,689$1,438,365$1,349,821$1,801,826
66$1,910,671$1,466,014$1,352,208$1,912,203
67$2,061,379$1,493,668$1,353,326$2,032,238
68$2,226,067$1,521,285$1,353,090$2,162,891
69$2,406,118$1,548,820$1,351,411$2,305,220
70$2,603,054$1,576,223$1,348,194$2,460,389
71$2,818,549$1,603,442$1,343,343$2,629,684
72$3,054,449$1,630,419$1,336,753$2,814,519
73$3,312,787$1,657,093$1,328,318$3,016,456
74$3,595,798$1,683,398$1,317,923$3,237,214
75$3,905,947$1,709,262$1,305,452$3,478,688
76$4,245,948$1,734,610$1,290,778$3,742,967
77$4,618,789$1,759,360$1,273,774$4,032,354
78$5,027,762$1,783,426$1,254,302$4,349,386
79$5,476,493$1,806,713$1,232,220$4,696,861
80$5,968,975$1,829,122$1,207,380$5,077,863
81$6,509,608$1,850,546$1,179,624$5,495,788
82$7,103,237$1,870,871$1,148,790$5,954,384
83$7,755,199$1,889,977$1,114,708$6,457,778
84$8,471,377$1,907,733$1,077,197$7,010,520
85$9,258,246$1,924,001$1,036,072$7,617,627
86$10,122,944$1,938,633$991,138$8,284,625
87$11,073,333$1,951,475$942,189$9,017,610
88$12,118,073$1,962,357$889,012$9,823,295
89$13,266,707$1,971,104$831,385$10,709,083
90$14,529,749$1,977,525$769,074$11,683,134
91$15,918,781$1,981,422$701,836$12,754,438
92$17,446,565$1,982,579$629,415$13,932,908
93$19,127,160$1,980,772$551,547$15,229,468
94$20,976,060$1,975,759$467,953$16,656,156
95$23,010,332$1,967,285$378,343$18,226,244
96$25,248,783$1,955,079$282,415$19,954,358
97$27,712,135$1,938,854$179,852$21,856,617
98$30,423,220$1,918,306$70,325$23,950,789
99$33,407,196$1,893,110$0$26,256,455
100$36,691,783$1,862,926$0$28,806,625