Can I retire at age 62 with 1,300,000?

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 $1,300,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$107,353$106,397$105,464$104,553$103,664$99,551
2 years$53,145$52,155$51,196$50,266$49,364$45,271
3 years$35,078$34,084$33,127$32,206$31,318$27,375
4 years$26,046$25,055$24,108$23,202$22,337$18,572
5 years$20,629$19,644$18,709$17,822$16,980$13,404
6 years$17,018$16,041$15,120$14,252$13,436$10,051
7 years$14,440$13,471$12,564$11,718$10,927$7,731
8 years$12,508$11,547$10,656$9,830$9,065$6,056
9 years$11,005$10,054$9,178$8,373$7,634$4,807
10 years$9,804$8,862$8,001$7,217$6,504$3,854
11 years$8,822$7,889$7,044$6,281$5,594$3,114
12 years$8,004$7,081$6,252$5,509$4,848$2,531
13 years$7,313$6,399$5,585$4,864$4,227$2,067
14 years$6,720$5,817$5,018$4,318$3,706$1,695
15 years$6,208$5,314$4,531$3,851$3,263$1,394
16 years$5,759$4,875$4,108$3,448$2,884$1,149
17 years$5,364$4,490$3,738$3,098$2,557$949
18 years$5,014$4,149$3,412$2,792$2,273$785
19 years$4,700$3,845$3,124$2,523$2,026$651
20 years$4,418$3,573$2,867$2,285$1,810$540
21 years$4,164$3,328$2,637$2,074$1,620$448
22 years$3,932$3,107$2,430$1,885$1,452$372
23 years$3,722$2,906$2,244$1,717$1,303$310
24 years$3,529$2,722$2,075$1,566$1,171$258
25 years$3,352$2,555$1,922$1,430$1,054$214
26 years$3,188$2,401$1,783$1,308$949$178
27 years$3,037$2,260$1,655$1,197$856$149
28 years$2,897$2,129$1,539$1,097$772$124
29 years$2,767$2,009$1,432$1,006$697$103
30 years$2,646$1,897$1,334$923$630$86
31 years$2,533$1,793$1,244$848$570$72
32 years$2,427$1,697$1,160$779$515$60
33 years$2,328$1,607$1,083$716$466$50
34 years$2,235$1,523$1,012$659$422$41
35 years$2,147$1,445$946$607$382$35
36 years$2,065$1,371$885$559$347$29
37 years$1,987$1,302$829$515$314$24
38 years$1,913$1,238$776$475$285$20
39 years$1,843$1,177$727$438$258$17
40 years$1,777$1,120$681$404$234$14
41 years$1,715$1,066$639$372$212$12
42 years$1,655$1,015$599$344$193$10
43 years$1,598$967$562$317$175$8
44 years$1,545$922$528$293$159$7
45 years$1,493$879$496$271$144$6
46 years$1,444$839$466$250$131$5
47 years$1,398$800$437$231$119$4
48 years$1,353$764$411$213$108$3
49 years$1,310$730$386$197$98$3
50 years$1,269$697$363$182$89$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,300,000, adding $5,069 every year, while hoping to spend $57,551 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: 67/12/21 Blend
61$1,300,000$1,300,000$1,300,000$1,300,000
62$1,437,829$1,368,929$1,348,779$1,526,234
63$1,523,253$1,374,772$1,332,729$1,591,960
64$1,615,463$1,378,974$1,314,213$1,656,708
65$1,715,087$1,381,391$1,293,086$1,726,146
66$1,822,822$1,381,874$1,269,200$1,800,734
67$1,939,428$1,380,265$1,242,397$1,880,981
68$2,065,744$1,376,393$1,212,512$1,967,450
69$2,202,693$1,370,078$1,179,374$2,060,760
70$2,351,287$1,361,131$1,142,802$2,161,598
71$2,512,640$1,349,349$1,102,608$2,270,720
72$2,687,980$1,334,518$1,058,596$2,388,962
73$2,878,654$1,316,409$1,010,559$2,517,247
74$3,086,148$1,294,784$958,283$2,656,593
75$3,312,092$1,269,385$901,543$2,808,125
76$3,558,284$1,239,944$840,103$2,973,086
77$3,826,701$1,206,173$773,719$3,152,844
78$4,119,519$1,167,770$702,133$3,348,915
79$4,439,132$1,124,414$625,077$3,562,966
80$4,788,179$1,075,765$542,272$3,796,843
81$5,169,560$1,021,464$453,425$4,052,579
82$5,586,471$961,132$358,230$4,332,420
83$6,042,429$894,366$256,370$4,638,843
84$6,541,309$820,742$147,510$4,974,583
85$7,087,375$739,811$31,305$5,342,658
86$7,685,324$651,098$0$5,746,396
87$8,340,327$554,101$0$6,210,245
88$9,058,080$448,292$0$6,726,320
89$9,844,855$333,110$0$7,292,160
90$10,707,562$207,963$0$7,912,791
91$11,653,808$72,229$0$8,593,751
92$12,691,975$0$0$9,341,145
93$13,831,293$0$0$10,171,571
94$15,081,931$0$0$11,093,687
95$16,455,090$0$0$12,106,225
96$17,963,106$0$0$13,218,292
97$19,619,573$0$0$14,439,923
98$21,439,462$0$0$15,782,172
99$23,439,269$0$0$17,257,215
100$25,637,166$0$0$18,878,468