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

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 $1,350,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$111,482$110,489$109,520$108,574$107,651$105,219
2 years$55,189$54,161$53,165$52,199$51,262$48,826
3 years$36,427$35,395$34,401$33,445$32,523$30,157
4 years$27,048$26,019$25,035$24,095$23,196$20,919
5 years$21,422$20,399$19,428$18,507$17,633$15,452
6 years$17,673$16,657$15,701$14,800$13,952$11,869
7 years$14,996$13,989$13,048$12,168$11,347$9,362
8 years$12,989$11,991$11,065$10,208$9,413$7,526
9 years$11,429$10,440$9,531$8,695$7,927$6,136
10 years$10,181$9,203$8,309$7,495$6,755$5,057
11 years$9,161$8,193$7,315$6,523$5,809$4,204
12 years$8,312$7,353$6,492$5,721$5,034$3,518
13 years$7,594$6,645$5,800$5,051$4,390$2,960
14 years$6,979$6,040$5,211$4,484$3,848$2,502
15 years$6,446$5,518$4,705$3,999$3,388$2,122
16 years$5,981$5,063$4,266$3,580$2,994$1,806
17 years$5,571$4,662$3,882$3,217$2,655$1,541
18 years$5,206$4,308$3,544$2,899$2,361$1,317
19 years$4,881$3,993$3,244$2,620$2,104$1,128
20 years$4,588$3,710$2,977$2,373$1,880$968
21 years$4,324$3,456$2,738$2,153$1,682$831
22 years$4,084$3,226$2,524$1,958$1,508$715
23 years$3,865$3,017$2,330$1,783$1,353$615
24 years$3,665$2,827$2,155$1,626$1,216$530
25 years$3,481$2,653$1,996$1,485$1,095$457
26 years$3,311$2,493$1,851$1,358$986$394
27 years$3,154$2,347$1,719$1,243$889$340
28 years$3,009$2,211$1,598$1,139$802$294
29 years$2,874$2,086$1,487$1,044$724$254
30 years$2,748$1,970$1,385$958$654$219
31 years$2,631$1,862$1,291$880$592$189
32 years$2,521$1,762$1,205$809$535$164
33 years$2,418$1,669$1,125$744$484$142
34 years$2,321$1,582$1,051$684$439$122
35 years$2,230$1,500$983$630$397$106
36 years$2,144$1,424$919$580$360$92
37 years$2,063$1,352$861$535$326$79
38 years$1,987$1,285$806$493$296$69
39 years$1,914$1,222$755$454$268$59
40 years$1,846$1,163$708$419$243$51
41 years$1,781$1,107$664$387$221$44
42 years$1,719$1,054$622$357$200$38
43 years$1,660$1,004$584$329$182$33
44 years$1,604$957$548$304$165$29
45 years$1,551$913$515$281$150$25
46 years$1,500$871$484$259$136$22
47 years$1,451$831$454$240$123$19
48 years$1,405$793$427$222$112$16
49 years$1,361$758$401$205$102$14
50 years$1,318$724$377$189$92$12

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 $3,059 every year, while hoping to spend $21,291 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: 68/20/12 Blend
61$1,350,000$1,350,000$1,350,000$1,350,000
62$1,490,855$1,419,305$1,398,380$1,588,122
63$1,620,269$1,466,198$1,422,573$1,700,085
64$1,762,170$1,514,675$1,446,862$1,819,662
65$1,917,808$1,564,790$1,471,229$1,949,888
66$2,088,562$1,616,603$1,495,652$2,091,807
67$2,275,950$1,670,171$1,520,111$2,246,565
68$2,481,643$1,725,556$1,544,582$2,415,425
69$2,707,484$1,782,821$1,569,038$2,599,778
70$2,955,501$1,842,034$1,593,455$2,801,155
71$3,227,930$1,903,260$1,617,803$3,021,240
72$3,527,231$1,966,573$1,642,052$3,261,891
73$3,856,118$2,032,044$1,666,170$3,525,151
74$4,217,578$2,099,751$1,690,123$3,813,272
75$4,614,904$2,169,771$1,713,875$4,128,731
76$5,051,722$2,242,187$1,737,387$4,474,260
77$5,532,026$2,317,084$1,760,619$4,852,864
78$6,060,221$2,394,549$1,783,527$5,267,857
79$6,641,155$2,474,673$1,806,067$5,722,886
80$7,280,172$2,557,552$1,828,190$6,221,969
81$7,983,160$2,643,282$1,849,845$6,769,532
82$8,756,606$2,731,966$1,870,978$7,370,452
83$9,607,657$2,823,710$1,891,532$8,030,100
84$10,544,188$2,918,621$1,911,449$8,754,391
85$11,574,876$3,016,815$1,930,664$9,549,846
86$12,709,284$3,118,409$1,949,111$10,423,645
87$13,957,944$3,223,524$1,966,719$11,383,699
88$15,332,465$3,332,288$1,983,416$12,438,725
89$16,845,639$3,444,832$1,999,122$13,598,325
90$18,511,558$3,561,293$2,013,756$14,873,079
91$20,345,751$3,681,811$2,027,232$16,274,644
92$22,365,333$3,806,534$2,039,459$17,815,862
93$24,589,157$3,935,615$2,050,341$19,510,884
94$27,038,002$4,069,211$2,059,779$21,375,300
95$29,734,763$4,207,487$2,067,666$23,426,288
96$32,704,668$4,350,614$2,073,892$25,682,777
97$35,975,518$4,498,767$2,078,342$28,165,620
98$39,577,946$4,652,133$2,080,891$30,897,799
99$43,545,710$4,810,900$2,081,414$33,904,632
100$47,916,005$4,975,267$2,079,775$37,214,019