Can I retire at age 62 with 1,310,000?

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 $1,310,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$108,179$107,215$106,275$105,357$104,461$100,515
2 years$53,554$52,556$51,590$50,653$49,743$45,814
3 years$35,348$34,346$33,382$32,454$31,559$27,769
4 years$26,247$25,248$24,294$23,381$22,508$18,887
5 years$20,787$19,795$18,853$17,959$17,110$13,668
6 years$17,149$16,164$15,236$14,362$13,539$10,277
7 years$14,551$13,574$12,661$11,808$11,011$7,928
8 years$12,604$11,636$10,738$9,905$9,135$6,228
9 years$11,090$10,131$9,248$8,437$7,693$4,959
10 years$9,880$8,930$8,063$7,273$6,554$3,989
11 years$8,890$7,950$7,098$6,329$5,637$3,233
12 years$8,066$7,135$6,300$5,552$4,885$2,637
13 years$7,369$6,448$5,628$4,901$4,260$2,161
14 years$6,772$5,861$5,057$4,351$3,734$1,778
15 years$6,255$5,354$4,566$3,880$3,288$1,467
16 years$5,804$4,913$4,140$3,474$2,906$1,214
17 years$5,406$4,524$3,767$3,122$2,576$1,007
18 years$5,052$4,181$3,439$2,813$2,291$836
19 years$4,736$3,875$3,148$2,542$2,042$695
20 years$4,452$3,600$2,889$2,302$1,824$579
21 years$4,196$3,354$2,657$2,089$1,632$483
22 years$3,963$3,131$2,449$1,900$1,463$403
23 years$3,750$2,928$2,261$1,730$1,313$336
24 years$3,556$2,743$2,091$1,578$1,180$281
25 years$3,377$2,574$1,937$1,441$1,062$234
26 years$3,213$2,420$1,797$1,318$957$196
27 years$3,061$2,277$1,668$1,206$863$164
28 years$2,920$2,146$1,551$1,105$778$137
29 years$2,789$2,024$1,443$1,013$703$115
30 years$2,667$1,912$1,344$930$635$96
31 years$2,553$1,807$1,253$854$574$80
32 years$2,446$1,710$1,169$785$519$67
33 years$2,346$1,619$1,092$722$470$56
34 years$2,252$1,535$1,020$664$426$47
35 years$2,164$1,456$954$611$385$39
36 years$2,081$1,382$892$563$349$33
37 years$2,002$1,312$835$519$317$28
38 years$1,928$1,247$782$478$287$23
39 years$1,858$1,186$733$441$260$19
40 years$1,791$1,128$687$407$236$16
41 years$1,728$1,074$644$375$214$14
42 years$1,668$1,023$604$346$194$11
43 years$1,611$975$567$320$176$10
44 years$1,556$929$532$295$160$8
45 years$1,505$886$500$273$145$7
46 years$1,455$845$469$252$132$6
47 years$1,408$806$441$233$120$5
48 years$1,363$770$414$215$109$4
49 years$1,320$735$389$199$99$3
50 years$1,279$702$366$184$90$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,310,000, adding $6,000 every year, while hoping to spend $42,425 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: 77/9/14 Blend
61$1,310,000$1,310,000$1,310,000$1,310,000
62$1,449,809$1,380,379$1,360,074$1,556,789
63$1,552,550$1,402,878$1,360,497$1,650,652
64$1,664,348$1,425,057$1,359,511$1,747,594
65$1,786,083$1,446,856$1,357,027$1,852,718
66$1,918,722$1,468,211$1,352,946$1,966,826
67$2,063,330$1,489,051$1,347,167$2,090,799
68$2,221,078$1,509,303$1,339,586$2,225,611
69$2,393,256$1,528,887$1,330,090$2,372,331
70$2,581,283$1,547,718$1,318,563$2,532,140
71$2,786,722$1,565,704$1,304,884$2,706,337
72$3,011,294$1,582,750$1,288,923$2,896,355
73$3,256,893$1,598,751$1,270,549$3,103,772
74$3,525,603$1,613,598$1,249,620$3,330,327
75$3,819,723$1,627,172$1,225,990$3,577,937
76$4,141,779$1,639,348$1,199,505$3,848,713
77$4,494,557$1,649,992$1,170,005$4,144,982
78$4,881,123$1,658,963$1,137,322$4,469,310
79$5,304,855$1,666,110$1,101,279$4,824,521
80$5,769,472$1,671,271$1,061,694$5,213,732
81$6,279,071$1,674,276$1,018,374$5,640,374
82$6,838,164$1,674,944$971,117$6,108,230
83$7,451,722$1,673,081$919,714$6,621,469
84$8,125,218$1,668,482$863,945$7,184,686
85$8,864,684$1,660,931$803,581$7,802,944
86$9,676,762$1,650,197$738,381$8,481,824
87$10,568,770$1,636,035$668,095$9,227,476
88$11,548,770$1,618,186$592,462$10,046,679
89$12,625,642$1,596,375$511,207$10,946,903
90$13,809,171$1,570,311$424,046$11,936,382
91$15,110,134$1,539,684$330,679$13,024,189
92$16,540,408$1,504,168$230,797$14,220,324
93$18,113,074$1,463,417$124,073$15,535,812
94$19,842,546$1,417,063$10,168$16,982,797
95$21,744,706$1,364,719$0$18,574,669
96$23,837,050$1,305,975$0$20,342,821
97$26,138,856$1,240,394$0$22,289,578
98$28,671,365$1,167,519$0$24,431,400
99$31,457,979$1,086,863$0$26,788,099
100$34,524,486$997,912$0$29,381,507