Can I retire at age 62 with 1,350,000?

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 $1,350,000?

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$111,482$110,489$109,520$108,574$107,651$105,737
2 years$55,189$54,161$53,165$52,199$51,262$49,341
3 years$36,427$35,395$34,401$33,445$32,523$30,653
4 years$27,048$26,019$25,035$24,095$23,196$21,392
5 years$21,422$20,399$19,428$18,507$17,633$15,901
6 years$17,673$16,657$15,701$14,800$13,952$12,294
7 years$14,996$13,989$13,048$12,168$11,347$9,763
8 years$12,989$11,991$11,065$10,208$9,413$7,903
9 years$11,429$10,440$9,531$8,695$7,927$6,490
10 years$10,181$9,203$8,309$7,495$6,755$5,389
11 years$9,161$8,193$7,315$6,523$5,809$4,513
12 years$8,312$7,353$6,492$5,721$5,034$3,806
13 years$7,594$6,645$5,800$5,051$4,390$3,229
14 years$6,979$6,040$5,211$4,484$3,848$2,751
15 years$6,446$5,518$4,705$3,999$3,388$2,353
16 years$5,981$5,063$4,266$3,580$2,994$2,020
17 years$5,571$4,662$3,882$3,217$2,655$1,738
18 years$5,206$4,308$3,544$2,899$2,361$1,499
19 years$4,881$3,993$3,244$2,620$2,104$1,295
20 years$4,588$3,710$2,977$2,373$1,880$1,121
21 years$4,324$3,456$2,738$2,153$1,682$972
22 years$4,084$3,226$2,524$1,958$1,508$844
23 years$3,865$3,017$2,330$1,783$1,353$733
24 years$3,665$2,827$2,155$1,626$1,216$637
25 years$3,481$2,653$1,996$1,485$1,095$555
26 years$3,311$2,493$1,851$1,358$986$483
27 years$3,154$2,347$1,719$1,243$889$421
28 years$3,009$2,211$1,598$1,139$802$367
29 years$2,874$2,086$1,487$1,044$724$320
30 years$2,748$1,970$1,385$958$654$279
31 years$2,631$1,862$1,291$880$592$244
32 years$2,521$1,762$1,205$809$535$213
33 years$2,418$1,669$1,125$744$484$186
34 years$2,321$1,582$1,051$684$439$162
35 years$2,230$1,500$983$630$397$142
36 years$2,144$1,424$919$580$360$124
37 years$2,063$1,352$861$535$326$108
38 years$1,987$1,285$806$493$296$95
39 years$1,914$1,222$755$454$268$83
40 years$1,846$1,163$708$419$243$72
41 years$1,781$1,107$664$387$221$63
42 years$1,719$1,054$622$357$200$55
43 years$1,660$1,004$584$329$182$48
44 years$1,604$957$548$304$165$42
45 years$1,551$913$515$281$150$37
46 years$1,500$871$484$259$136$32
47 years$1,451$831$454$240$123$28
48 years$1,405$793$427$222$112$25
49 years$1,361$758$401$205$102$22
50 years$1,318$724$377$189$92$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,350,000, adding $6,716 every year, while hoping to spend $49,342 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: 43/48/9 Blend
61$1,350,000$1,350,000$1,350,000$1,350,000
62$1,494,628$1,423,078$1,402,153$1,554,726
63$1,594,580$1,440,309$1,396,625$1,614,435
64$1,703,074$1,456,731$1,389,259$1,673,546
65$1,820,928$1,472,251$1,379,940$1,736,461
66$1,949,045$1,486,773$1,368,549$1,803,546
67$2,088,413$1,500,191$1,354,962$1,875,208
68$2,240,126$1,512,395$1,339,048$1,951,894
69$2,405,382$1,523,266$1,320,669$2,034,102
70$2,585,502$1,532,677$1,299,682$2,122,381
71$2,781,939$1,540,494$1,275,938$2,217,337
72$2,996,294$1,546,575$1,249,279$2,319,643
73$3,230,327$1,550,768$1,219,541$2,430,041
74$3,485,976$1,552,912$1,186,551$2,549,352
75$3,765,375$1,552,834$1,150,130$2,678,485
76$4,070,874$1,550,353$1,110,090$2,818,444
77$4,405,058$1,545,276$1,066,233$2,970,339
78$4,770,777$1,537,397$1,018,354$3,135,397
79$5,171,165$1,526,498$966,238$3,314,976
80$5,609,677$1,512,350$909,660$3,510,573
81$6,090,115$1,494,706$848,385$3,723,847
82$6,616,668$1,473,307$782,166$3,956,629
83$7,193,947$1,447,879$710,749$4,210,942
84$7,827,035$1,418,130$633,864$4,489,023
85$8,521,525$1,383,751$551,231$4,793,341
86$9,283,582$1,344,416$462,558$5,126,625
87$10,119,993$1,299,778$367,540$5,491,891
88$11,038,237$1,249,472$265,857$5,892,467
89$12,046,552$1,193,111$157,178$6,332,031
90$13,154,010$1,130,283$41,153$6,814,646
91$14,370,609$1,060,557$0$7,344,794
92$15,707,359$983,472$0$7,935,368
93$17,176,393$898,546$0$8,588,631
94$18,791,076$805,265$0$9,306,700
95$20,566,130$703,088$0$10,096,282
96$22,517,779$591,443$0$10,964,773
97$24,663,894$469,725$0$11,920,340
98$27,024,166$337,296$0$12,971,990
99$29,620,289$193,481$0$14,129,665
100$32,476,165$37,569$0$15,404,331