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

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 $1,360,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$112,308$111,307$110,331$109,379$108,448$106,085
2 years$55,598$54,562$53,559$52,586$51,642$49,273
3 years$36,697$35,657$34,656$33,692$32,764$30,463
4 years$27,248$26,212$25,221$24,273$23,367$21,153
5 years$21,581$20,550$19,572$18,644$17,764$15,641
6 years$17,804$16,781$15,817$14,910$14,056$12,027
7 years$15,107$14,093$13,144$12,258$11,431$9,498
8 years$13,085$12,080$11,147$10,283$9,483$7,644
9 years$11,513$10,518$9,601$8,759$7,986$6,240
10 years$10,257$9,271$8,371$7,550$6,805$5,149
11 years$9,229$8,253$7,369$6,571$5,852$4,285
12 years$8,374$7,408$6,540$5,764$5,071$3,591
13 years$7,650$6,694$5,843$5,088$4,422$3,026
14 years$7,031$6,085$5,250$4,517$3,877$2,561
15 years$6,494$5,559$4,740$4,028$3,413$2,175
16 years$6,025$5,100$4,298$3,607$3,017$1,854
17 years$5,612$4,697$3,911$3,241$2,675$1,584
18 years$5,245$4,340$3,570$2,921$2,378$1,356
19 years$4,917$4,022$3,268$2,639$2,120$1,163
20 years$4,622$3,738$2,999$2,390$1,893$999
21 years$4,356$3,482$2,759$2,169$1,694$860
22 years$4,114$3,250$2,543$1,972$1,519$740
23 years$3,893$3,040$2,348$1,796$1,363$638
24 years$3,692$2,848$2,171$1,638$1,225$551
25 years$3,506$2,673$2,011$1,496$1,103$476
26 years$3,335$2,512$1,865$1,368$993$411
27 years$3,178$2,364$1,732$1,252$896$355
28 years$3,031$2,228$1,610$1,147$808$307
29 years$2,895$2,101$1,498$1,052$730$266
30 years$2,768$1,985$1,396$966$659$230
31 years$2,650$1,876$1,301$887$596$199
32 years$2,539$1,775$1,214$815$539$172
33 years$2,436$1,681$1,133$749$488$149
34 years$2,338$1,593$1,059$690$442$129
35 years$2,246$1,511$990$635$400$112
36 years$2,160$1,434$926$585$363$97
37 years$2,078$1,362$867$539$329$84
38 years$2,001$1,295$812$496$298$73
39 years$1,928$1,231$761$458$270$63
40 years$1,859$1,171$713$422$245$55
41 years$1,794$1,115$668$390$222$47
42 years$1,731$1,062$627$360$202$41
43 years$1,672$1,012$588$332$183$36
44 years$1,616$964$552$306$166$31
45 years$1,562$920$519$283$151$27
46 years$1,511$877$487$261$137$23
47 years$1,462$837$458$242$124$20
48 years$1,415$799$430$223$113$17
49 years$1,371$763$404$206$103$15
50 years$1,328$729$380$191$93$13

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 $2,526 every year, while hoping to spend $44,380 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: 40/41/19 Blend
61$1,360,000$1,360,000$1,360,000$1,360,000
62$1,501,326$1,429,246$1,408,166$1,552,828
63$1,607,241$1,452,059$1,408,119$1,612,669
64$1,722,472$1,474,502$1,406,584$1,672,914
65$1,847,922$1,496,511$1,403,463$1,737,169
66$1,984,586$1,518,016$1,398,654$1,805,821
67$2,133,557$1,538,942$1,392,052$1,879,301
68$2,296,039$1,559,209$1,383,546$1,958,083
69$2,473,358$1,578,733$1,373,017$2,042,691
70$2,666,971$1,597,422$1,360,344$2,133,706
71$2,878,485$1,615,178$1,345,398$2,231,767
72$3,109,667$1,631,898$1,328,045$2,337,584
73$3,362,463$1,647,471$1,308,145$2,451,939
74$3,639,016$1,661,779$1,285,549$2,575,696
75$3,941,685$1,674,696$1,260,105$2,709,813
76$4,273,068$1,686,087$1,231,650$2,855,343
77$4,636,027$1,695,811$1,200,015$3,013,455
78$5,033,711$1,703,715$1,165,025$3,185,438
79$5,469,590$1,709,638$1,126,494$3,372,714
80$5,947,486$1,713,408$1,084,229$3,576,857
81$6,471,607$1,714,842$1,038,029$3,799,603
82$7,046,589$1,713,748$987,681$4,042,873
83$7,677,538$1,709,918$932,965$4,308,784
84$8,370,078$1,703,135$873,650$4,599,677
85$9,130,404$1,693,167$809,496$4,918,136
86$9,965,340$1,679,767$740,249$5,267,013
87$10,882,405$1,662,676$665,647$5,649,459
88$11,889,879$1,641,615$585,415$6,068,952
89$12,996,885$1,616,294$499,265$6,529,330
90$14,213,475$1,586,399$406,898$7,034,832
91$15,550,720$1,551,604$308,000$7,590,135
92$17,020,820$1,511,559$202,245$8,200,404
93$18,637,214$1,465,895$89,290$8,871,337
94$20,414,708$1,414,223$0$9,609,222
95$22,369,617$1,356,128$0$10,427,337
96$24,519,913$1,291,174$0$11,346,733
97$26,885,400$1,218,898$0$12,357,820
98$29,487,898$1,138,810$0$13,470,005
99$32,351,446$1,050,394$0$14,693,661
100$35,502,533$953,103$0$16,040,230