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

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 $1,290,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$106,527$105,578$104,652$103,749$102,866$101,038
2 years$52,736$51,754$50,802$49,879$48,984$47,148
3 years$34,808$33,822$32,872$31,958$31,077$29,291
4 years$25,846$24,863$23,923$23,024$22,165$20,442
5 years$20,470$19,493$18,565$17,685$16,849$15,195
6 years$16,887$15,917$15,003$14,143$13,332$11,748
7 years$14,329$13,367$12,468$11,627$10,843$9,329
8 years$12,411$11,458$10,574$9,754$8,995$7,552
9 years$10,921$9,976$9,107$8,308$7,575$6,202
10 years$9,729$8,794$7,940$7,162$6,454$5,149
11 years$8,754$7,829$6,990$6,233$5,551$4,313
12 years$7,943$7,026$6,203$5,467$4,810$3,637
13 years$7,256$6,350$5,542$4,827$4,195$3,085
14 years$6,669$5,772$4,980$4,284$3,677$2,629
15 years$6,160$5,273$4,496$3,821$3,238$2,249
16 years$5,715$4,838$4,076$3,421$2,861$1,930
17 years$5,323$4,455$3,709$3,074$2,537$1,661
18 years$4,975$4,117$3,386$2,770$2,256$1,432
19 years$4,664$3,815$3,100$2,503$2,011$1,238
20 years$4,384$3,545$2,845$2,267$1,796$1,071
21 years$4,132$3,302$2,617$2,058$1,607$929
22 years$3,902$3,083$2,412$1,871$1,441$806
23 years$3,693$2,883$2,227$1,704$1,293$700
24 years$3,502$2,701$2,059$1,554$1,162$609
25 years$3,326$2,535$1,907$1,419$1,046$530
26 years$3,164$2,383$1,769$1,298$942$462
27 years$3,014$2,242$1,643$1,188$849$402
28 years$2,875$2,113$1,527$1,088$766$351
29 years$2,746$1,993$1,421$998$692$306
30 years$2,626$1,882$1,324$916$625$267
31 years$2,514$1,780$1,234$841$565$233
32 years$2,409$1,684$1,151$773$511$203
33 years$2,310$1,595$1,075$711$463$178
34 years$2,218$1,511$1,004$654$419$155
35 years$2,131$1,433$939$602$380$136
36 years$2,049$1,361$879$555$344$118
37 years$1,971$1,292$822$511$312$104
38 years$1,898$1,228$770$471$283$91
39 years$1,829$1,168$721$434$256$79
40 years$1,764$1,111$676$400$232$69
41 years$1,701$1,058$634$370$211$60
42 years$1,642$1,007$595$341$191$53
43 years$1,586$960$558$315$174$46
44 years$1,533$915$524$291$158$40
45 years$1,482$872$492$268$143$35
46 years$1,433$832$462$248$130$31
47 years$1,387$794$434$229$118$27
48 years$1,342$758$408$212$107$24
49 years$1,300$724$383$196$97$21
50 years$1,259$692$360$181$88$18

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 $6,156 every year, while hoping to spend $40,729 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: 62/12/26 Blend
61$1,290,000$1,290,000$1,290,000$1,290,000
62$1,427,930$1,359,560$1,339,565$1,506,221
63$1,530,243$1,382,843$1,341,105$1,583,337
64$1,641,628$1,405,902$1,341,332$1,662,509
65$1,762,965$1,428,683$1,340,158$1,748,073
66$1,895,227$1,451,127$1,337,492$1,840,662
67$2,039,481$1,473,173$1,333,239$1,940,971
68$2,196,904$1,494,754$1,327,298$2,049,769
69$2,368,790$1,515,799$1,319,564$2,167,903
70$2,556,563$1,536,230$1,309,927$2,296,308
71$2,761,794$1,555,967$1,298,271$2,436,014
72$2,986,209$1,574,921$1,284,475$2,588,158
73$3,231,709$1,592,999$1,268,412$2,753,994
74$3,500,389$1,610,102$1,249,949$2,934,904
75$3,794,555$1,626,123$1,228,948$3,132,412
76$4,116,745$1,640,948$1,205,263$3,348,201
77$4,469,755$1,654,457$1,178,742$3,584,125
78$4,856,665$1,666,520$1,149,225$3,842,228
79$5,280,866$1,677,001$1,116,545$4,124,766
80$5,746,094$1,685,753$1,080,528$4,434,227
81$6,256,462$1,692,622$1,040,993$4,773,351
82$6,816,501$1,697,441$997,747$5,145,165
83$7,431,205$1,700,036$950,591$5,553,002
84$8,106,069$1,700,219$899,318$6,000,539
85$8,847,152$1,697,794$843,709$6,491,832
86$9,661,124$1,692,548$783,536$7,031,352
87$10,555,336$1,684,260$718,561$7,624,027
88$11,537,884$1,672,693$648,537$8,275,294
89$12,617,688$1,657,594$573,202$8,991,146
90$13,804,574$1,638,698$492,287$9,778,191
91$15,109,369$1,615,723$405,507$10,643,714
92$16,544,000$1,588,369$312,567$11,595,747
93$18,121,608$1,556,319$213,157$12,643,147
94$19,856,671$1,519,237$106,957$13,795,675
95$21,765,140$1,476,768$0$15,064,097
96$23,864,590$1,428,535$0$16,462,047
97$26,174,385$1,374,141$0$18,032,619
98$28,715,861$1,313,162$0$19,760,633
99$31,512,525$1,245,154$0$21,662,094
100$34,590,280$1,169,644$0$23,754,639