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%12.9%
1 years$111,482$110,489$109,520$108,574$107,651$106,350
2 years$55,189$54,161$53,165$52,199$51,262$49,953
3 years$36,427$35,395$34,401$33,445$32,523$31,246
4 years$27,048$26,019$25,035$24,095$23,196$21,961
5 years$21,422$20,399$19,428$18,507$17,633$16,444
6 years$17,673$16,657$15,701$14,800$13,952$12,811
7 years$14,996$13,989$13,048$12,168$11,347$10,253
8 years$12,989$11,991$11,065$10,208$9,413$8,367
9 years$11,429$10,440$9,531$8,695$7,927$6,928
10 years$10,181$9,203$8,309$7,495$6,755$5,802
11 years$9,161$8,193$7,315$6,523$5,809$4,902
12 years$8,312$7,353$6,492$5,721$5,034$4,172
13 years$7,594$6,645$5,800$5,051$4,390$3,571
14 years$6,979$6,040$5,211$4,484$3,848$3,072
15 years$6,446$5,518$4,705$3,999$3,388$2,653
16 years$5,981$5,063$4,266$3,580$2,994$2,299
17 years$5,571$4,662$3,882$3,217$2,655$1,998
18 years$5,206$4,308$3,544$2,899$2,361$1,741
19 years$4,881$3,993$3,244$2,620$2,104$1,520
20 years$4,588$3,710$2,977$2,373$1,880$1,329
21 years$4,324$3,456$2,738$2,153$1,682$1,164
22 years$4,084$3,226$2,524$1,958$1,508$1,022
23 years$3,865$3,017$2,330$1,783$1,353$897
24 years$3,665$2,827$2,155$1,626$1,216$789
25 years$3,481$2,653$1,996$1,485$1,095$694
26 years$3,311$2,493$1,851$1,358$986$611
27 years$3,154$2,347$1,719$1,243$889$539
28 years$3,009$2,211$1,598$1,139$802$475
29 years$2,874$2,086$1,487$1,044$724$419
30 years$2,748$1,970$1,385$958$654$370
31 years$2,631$1,862$1,291$880$592$327
32 years$2,521$1,762$1,205$809$535$289
33 years$2,418$1,669$1,125$744$484$255
34 years$2,321$1,582$1,051$684$439$225
35 years$2,230$1,500$983$630$397$199
36 years$2,144$1,424$919$580$360$176
37 years$2,063$1,352$861$535$326$156
38 years$1,987$1,285$806$493$296$138
39 years$1,914$1,222$755$454$268$122
40 years$1,846$1,163$708$419$243$108
41 years$1,781$1,107$664$387$221$95
42 years$1,719$1,054$622$357$200$84
43 years$1,660$1,004$584$329$182$75
44 years$1,604$957$548$304$165$66
45 years$1,551$913$515$281$150$59
46 years$1,500$871$484$259$136$52
47 years$1,451$831$454$240$123$46
48 years$1,405$793$427$222$112$41
49 years$1,361$758$401$205$102$36
50 years$1,318$724$377$189$92$32

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 $3,091 every year, while hoping to spend $36,638 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: 36/35/29 Blend
61$1,350,000$1,350,000$1,350,000$1,350,000
62$1,490,888$1,419,338$1,398,413$1,531,498
63$1,603,976$1,449,903$1,406,278$1,592,623
64$1,727,372$1,480,738$1,413,177$1,655,043
65$1,862,086$1,511,817$1,419,042$1,721,736
66$2,009,235$1,543,113$1,423,796$1,793,111
67$2,170,046$1,574,594$1,427,362$1,869,621
68$2,345,869$1,606,227$1,429,657$1,951,764
69$2,538,193$1,637,977$1,430,595$2,040,092
70$2,748,654$1,669,803$1,430,086$2,135,212
71$2,979,056$1,701,664$1,428,033$2,237,797
72$3,231,386$1,733,511$1,424,338$2,348,586
73$3,507,830$1,765,296$1,418,896$2,468,399
74$3,810,797$1,796,964$1,411,598$2,598,138
75$4,142,940$1,828,456$1,402,327$2,738,800
76$4,507,179$1,859,710$1,390,965$2,891,483
77$4,906,733$1,890,658$1,377,384$3,057,403
78$5,345,146$1,921,226$1,361,452$3,237,899
79$5,826,321$1,951,337$1,343,032$3,434,450
80$6,354,560$1,980,906$1,321,977$3,648,687
81$6,934,599$2,009,844$1,298,137$3,882,411
82$7,571,655$2,038,054$1,271,352$4,137,610
83$8,271,478$2,065,432$1,241,456$4,416,476
84$9,040,399$2,091,869$1,208,276$4,721,430
85$9,885,395$2,117,246$1,171,628$5,055,139
86$10,814,151$2,141,437$1,131,324$5,420,552
87$11,835,135$2,164,307$1,087,163$5,820,917
88$12,957,674$2,185,714$1,038,938$6,259,820
89$14,192,045$2,205,502$986,431$6,741,218
90$15,549,572$2,223,510$929,415$7,269,474
91$17,042,730$2,239,564$867,652$7,849,403
92$18,685,264$2,253,478$800,893$8,486,315
93$20,492,317$2,265,055$728,880$9,186,068
94$22,480,577$2,274,086$651,341$9,955,124
95$24,668,427$2,280,347$567,992$10,800,611
96$27,076,125$2,283,603$478,539$11,730,388
97$29,725,992$2,283,601$382,671$12,753,127
98$32,642,620$2,280,074$280,067$13,878,389
99$35,853,108$2,272,739$170,391$15,116,720
100$39,387,315$2,261,293$53,289$16,479,750