Can I retire at age 62 with 1,330,000?

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 $1,330,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$109,830$108,852$107,897$106,966$106,056$101,929
2 years$54,371$53,359$52,377$51,426$50,503$46,394
3 years$35,888$34,871$33,892$32,949$32,041$28,081
4 years$26,647$25,634$24,664$23,738$22,852$19,070
5 years$21,105$20,097$19,141$18,233$17,372$13,778
6 years$17,411$16,411$15,468$14,581$13,746$10,343
7 years$14,773$13,782$12,854$11,988$11,179$7,965
8 years$12,796$11,813$10,902$10,056$9,274$6,247
9 years$11,259$10,286$9,389$8,566$7,810$4,964
10 years$10,030$9,066$8,186$7,384$6,655$3,985
11 years$9,026$8,071$7,207$6,426$5,723$3,224
12 years$8,189$7,244$6,396$5,637$4,960$2,624
13 years$7,481$6,547$5,714$4,976$4,325$2,146
14 years$6,876$5,951$5,134$4,417$3,791$1,762
15 years$6,351$5,436$4,636$3,939$3,338$1,451
16 years$5,892$4,988$4,203$3,527$2,950$1,198
17 years$5,488$4,593$3,824$3,169$2,616$991
18 years$5,129$4,244$3,491$2,856$2,326$821
19 years$4,809$3,934$3,196$2,581$2,073$682
20 years$4,520$3,655$2,933$2,337$1,852$566
21 years$4,260$3,405$2,698$2,121$1,657$471
22 years$4,023$3,178$2,487$1,929$1,485$392
23 years$3,808$2,973$2,296$1,757$1,333$326
24 years$3,610$2,785$2,123$1,602$1,198$272
25 years$3,429$2,614$1,967$1,463$1,078$227
26 years$3,262$2,457$1,824$1,338$971$189
27 years$3,107$2,312$1,694$1,225$876$158
28 years$2,964$2,178$1,574$1,122$790$132
29 years$2,831$2,055$1,465$1,029$714$110
30 years$2,707$1,941$1,365$944$645$92
31 years$2,592$1,835$1,272$867$583$76
32 years$2,483$1,736$1,187$797$527$64
33 years$2,382$1,644$1,108$733$477$53
34 years$2,287$1,558$1,036$674$432$45
35 years$2,197$1,478$968$621$391$37
36 years$2,112$1,403$906$572$355$31
37 years$2,033$1,332$848$527$321$26
38 years$1,957$1,266$794$486$291$22
39 years$1,886$1,204$744$448$264$18
40 years$1,818$1,146$697$413$240$15
41 years$1,754$1,090$654$381$217$13
42 years$1,693$1,038$613$352$197$11
43 years$1,635$989$575$325$179$9
44 years$1,580$943$540$300$163$7
45 years$1,528$899$507$277$148$6
46 years$1,478$858$476$256$134$5
47 years$1,430$819$448$236$122$4
48 years$1,384$782$421$218$110$4
49 years$1,340$746$395$202$100$3
50 years$1,299$713$372$186$91$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,330,000, adding $5,115 every year, while hoping to spend $34,795 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: 85/6/9 Blend
61$1,330,000$1,330,000$1,330,000$1,330,000
62$1,470,936$1,400,446$1,379,831$1,593,826
63$1,583,950$1,432,046$1,389,034$1,706,450
64$1,707,325$1,464,029$1,397,379$1,824,913
65$1,842,082$1,496,376$1,404,800$1,953,977
66$1,989,342$1,529,066$1,411,229$2,094,687
67$2,150,344$1,562,079$1,416,594$2,248,192
68$2,326,447$1,595,390$1,420,819$2,415,760
69$2,519,152$1,628,970$1,423,823$2,598,785
70$2,730,107$1,662,792$1,425,523$2,798,804
71$2,961,131$1,696,821$1,425,830$3,017,509
72$3,214,224$1,731,024$1,424,654$3,256,764
73$3,491,592$1,765,361$1,421,897$3,518,621
74$3,795,661$1,799,790$1,417,457$3,805,344
75$4,129,105$1,834,266$1,411,228$4,119,423
76$4,494,867$1,868,739$1,403,098$4,463,604
77$4,896,193$1,903,156$1,392,951$4,840,909
78$5,336,653$1,937,460$1,380,663$5,254,671
79$5,820,183$1,971,587$1,366,107$5,708,560
80$6,351,118$2,005,471$1,349,148$6,206,620
81$6,934,233$2,039,039$1,329,645$6,753,305
82$7,574,787$2,072,215$1,307,450$7,353,524
83$8,278,575$2,104,913$1,282,410$8,012,687
84$9,051,982$2,137,046$1,254,363$8,736,751
85$9,902,039$2,168,516$1,223,139$9,532,283
86$10,836,494$2,199,221$1,188,561$10,406,518
87$11,863,885$2,229,051$1,150,446$11,367,427
88$12,993,614$2,257,887$1,108,599$12,423,794
89$14,236,043$2,285,604$1,062,818$13,585,299
90$15,602,588$2,312,068$1,012,891$14,862,605
91$17,105,827$2,337,133$958,597$16,267,466
92$18,759,617$2,360,648$899,706$17,812,831
93$20,579,227$2,382,449$835,975$19,512,969
94$22,581,480$2,402,361$767,152$21,383,605
95$24,784,912$2,420,198$692,973$23,442,066
96$27,209,949$2,435,764$613,163$25,707,445
97$29,879,094$2,448,847$527,435$28,200,784
98$32,817,145$2,459,223$435,487$30,945,266
99$36,051,423$2,466,655$337,005$33,966,443
100$39,612,037$2,470,889$231,663$37,292,467