Can I retire at age 62 with 1,360,000?

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 $1,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$112,308$111,307$110,331$109,379$108,448$106,172
2 years$55,598$54,562$53,559$52,586$51,642$49,359
3 years$36,697$35,657$34,656$33,692$32,764$30,546
4 years$27,248$26,212$25,221$24,273$23,367$21,232
5 years$21,581$20,550$19,572$18,644$17,764$15,716
6 years$17,804$16,781$15,817$14,910$14,056$12,098
7 years$15,107$14,093$13,144$12,258$11,431$9,564
8 years$13,085$12,080$11,147$10,283$9,483$7,706
9 years$11,513$10,518$9,601$8,759$7,986$6,298
10 years$10,257$9,271$8,371$7,550$6,805$5,204
11 years$9,229$8,253$7,369$6,571$5,852$4,336
12 years$8,374$7,408$6,540$5,764$5,071$3,638
13 years$7,650$6,694$5,843$5,088$4,422$3,070
14 years$7,031$6,085$5,250$4,517$3,877$2,602
15 years$6,494$5,559$4,740$4,028$3,413$2,213
16 years$6,025$5,100$4,298$3,607$3,017$1,889
17 years$5,612$4,697$3,911$3,241$2,675$1,616
18 years$5,245$4,340$3,570$2,921$2,378$1,386
19 years$4,917$4,022$3,268$2,639$2,120$1,190
20 years$4,622$3,738$2,999$2,390$1,893$1,024
21 years$4,356$3,482$2,759$2,169$1,694$882
22 years$4,114$3,250$2,543$1,972$1,519$761
23 years$3,893$3,040$2,348$1,796$1,363$657
24 years$3,692$2,848$2,171$1,638$1,225$568
25 years$3,506$2,673$2,011$1,496$1,103$491
26 years$3,335$2,512$1,865$1,368$993$425
27 years$3,178$2,364$1,732$1,252$896$368
28 years$3,031$2,228$1,610$1,147$808$319
29 years$2,895$2,101$1,498$1,052$730$276
30 years$2,768$1,985$1,396$966$659$239
31 years$2,650$1,876$1,301$887$596$208
32 years$2,539$1,775$1,214$815$539$180
33 years$2,436$1,681$1,133$749$488$156
34 years$2,338$1,593$1,059$690$442$136
35 years$2,246$1,511$990$635$400$118
36 years$2,160$1,434$926$585$363$102
37 years$2,078$1,362$867$539$329$89
38 years$2,001$1,295$812$496$298$77
39 years$1,928$1,231$761$458$270$67
40 years$1,859$1,171$713$422$245$58
41 years$1,794$1,115$668$390$222$50
42 years$1,731$1,062$627$360$202$44
43 years$1,672$1,012$588$332$183$38
44 years$1,616$964$552$306$166$33
45 years$1,562$920$519$283$151$29
46 years$1,511$877$487$261$137$25
47 years$1,462$837$458$242$124$22
48 years$1,415$799$430$223$113$19
49 years$1,371$763$404$206$103$16
50 years$1,328$729$380$191$93$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,360,000, adding $3,842 every year, while hoping to spend $54,117 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: 65/25/10 Blend
61$1,360,000$1,360,000$1,360,000$1,360,000
62$1,502,683$1,430,603$1,409,523$1,596,897
63$1,598,377$1,443,123$1,399,162$1,672,695
64$1,702,017$1,454,442$1,386,640$1,748,756
65$1,814,358$1,464,445$1,371,828$1,830,471
66$1,936,228$1,473,008$1,354,589$1,918,389
67$2,068,538$1,480,000$1,334,783$2,013,112
68$2,212,291$1,485,281$1,312,260$2,115,308
69$2,368,588$1,488,704$1,286,864$2,225,710
70$2,538,642$1,490,109$1,258,432$2,345,129
71$2,723,789$1,489,329$1,226,795$2,474,460
72$2,925,496$1,486,187$1,191,773$2,614,689
73$3,145,379$1,480,493$1,153,181$2,766,906
74$3,385,218$1,472,047$1,110,822$2,932,312
75$3,646,968$1,460,635$1,064,493$3,112,232
76$3,932,786$1,446,033$1,013,980$3,308,129
77$4,245,042$1,428,001$959,061$3,521,616
78$4,586,349$1,406,286$899,501$3,754,473
79$4,959,581$1,380,618$835,059$4,008,664
80$5,367,903$1,350,713$765,479$4,286,356
81$5,814,802$1,316,270$690,494$4,589,938
82$6,304,114$1,276,970$609,828$4,922,049
83$6,840,066$1,232,474$523,190$5,285,596
84$7,427,313$1,182,426$430,277$5,683,789
85$8,070,980$1,126,446$330,772$6,120,169
86$8,776,713$1,064,134$224,346$6,598,638
87$9,550,729$995,068$110,653$7,123,507
88$10,399,876$918,800$0$7,699,524
89$11,331,698$834,856$0$8,333,070
90$12,354,504$742,736$0$9,041,461
91$13,477,446$641,912$0$9,819,293
92$14,710,605$531,826$0$10,673,642
93$16,065,088$411,887$0$11,612,308
94$17,553,129$281,471$0$12,643,892
95$19,188,207$139,922$0$13,777,875
96$20,985,169$0$0$15,024,711
97$22,960,374$0$0$16,399,625
98$25,131,844$0$0$17,953,572
99$27,519,433$0$0$19,662,279
100$30,145,016$0$0$21,541,413