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%15.4%
1 years$112,308$111,307$110,331$109,379$108,448$106,042
2 years$55,598$54,562$53,559$52,586$51,642$49,230
3 years$36,697$35,657$34,656$33,692$32,764$30,422
4 years$27,248$26,212$25,221$24,273$23,367$21,113
5 years$21,581$20,550$19,572$18,644$17,764$15,604
6 years$17,804$16,781$15,817$14,910$14,056$11,992
7 years$15,107$14,093$13,144$12,258$11,431$9,464
8 years$13,085$12,080$11,147$10,283$9,483$7,613
9 years$11,513$10,518$9,601$8,759$7,986$6,210
10 years$10,257$9,271$8,371$7,550$6,805$5,122
11 years$9,229$8,253$7,369$6,571$5,852$4,260
12 years$8,374$7,408$6,540$5,764$5,071$3,567
13 years$7,650$6,694$5,843$5,088$4,422$3,004
14 years$7,031$6,085$5,250$4,517$3,877$2,540
15 years$6,494$5,559$4,740$4,028$3,413$2,157
16 years$6,025$5,100$4,298$3,607$3,017$1,836
17 years$5,612$4,697$3,911$3,241$2,675$1,568
18 years$5,245$4,340$3,570$2,921$2,378$1,341
19 years$4,917$4,022$3,268$2,639$2,120$1,150
20 years$4,622$3,738$2,999$2,390$1,893$987
21 years$4,356$3,482$2,759$2,169$1,694$849
22 years$4,114$3,250$2,543$1,972$1,519$730
23 years$3,893$3,040$2,348$1,796$1,363$629
24 years$3,692$2,848$2,171$1,638$1,225$542
25 years$3,506$2,673$2,011$1,496$1,103$468
26 years$3,335$2,512$1,865$1,368$993$404
27 years$3,178$2,364$1,732$1,252$896$349
28 years$3,031$2,228$1,610$1,147$808$301
29 years$2,895$2,101$1,498$1,052$730$261
30 years$2,768$1,985$1,396$966$659$225
31 years$2,650$1,876$1,301$887$596$195
32 years$2,539$1,775$1,214$815$539$169
33 years$2,436$1,681$1,133$749$488$146
34 years$2,338$1,593$1,059$690$442$126
35 years$2,246$1,511$990$635$400$109
36 years$2,160$1,434$926$585$363$95
37 years$2,078$1,362$867$539$329$82
38 years$2,001$1,295$812$496$298$71
39 years$1,928$1,231$761$458$270$61
40 years$1,859$1,171$713$422$245$53
41 years$1,794$1,115$668$390$222$46
42 years$1,731$1,062$627$360$202$40
43 years$1,672$1,012$588$332$183$35
44 years$1,616$964$552$306$166$30
45 years$1,562$920$519$283$151$26
46 years$1,511$877$487$261$137$22
47 years$1,462$837$458$242$124$19
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 $5,818 every year, while hoping to spend $55,837 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: 79/9/12 Blend
61$1,360,000$1,360,000$1,360,000$1,360,000
62$1,504,721$1,432,641$1,411,561$1,619,764
63$1,598,793$1,443,431$1,399,438$1,706,998
64$1,700,588$1,452,877$1,385,038$1,794,891
65$1,810,836$1,460,856$1,368,225$1,889,711
66$1,930,338$1,467,235$1,348,857$1,992,125
67$2,059,976$1,471,873$1,326,787$2,102,868
68$2,200,718$1,474,619$1,301,859$2,222,751
69$2,353,630$1,475,314$1,273,910$2,352,668
70$2,519,885$1,473,789$1,242,771$2,493,601
71$2,700,773$1,469,865$1,208,264$2,646,635
72$2,897,713$1,463,349$1,170,202$2,812,965
73$3,112,267$1,454,041$1,128,391$2,993,908
74$3,346,154$1,441,724$1,082,627$3,190,914
75$3,601,265$1,426,172$1,032,699$3,405,582
76$3,879,682$1,407,142$978,382$3,639,675
77$4,183,697$1,384,380$919,445$3,895,135
78$4,515,832$1,357,613$855,645$4,174,103
79$4,878,865$1,326,554$786,727$4,478,938
80$5,275,854$1,290,900$712,427$4,812,241
81$5,710,165$1,250,327$632,467$5,176,879
82$6,185,505$1,204,497$546,558$5,576,011
83$6,705,957$1,153,047$454,398$6,013,118
84$7,276,014$1,095,596$355,670$6,492,041
85$7,900,628$1,031,741$250,045$7,017,008
86$8,585,250$961,054$137,180$7,592,685
87$9,335,885$883,085$16,714$8,224,211
88$10,159,144$797,356$0$8,917,252
89$11,062,313$703,362$0$9,692,374
90$12,053,414$600,571$0$10,545,355
91$13,141,283$488,420$0$11,481,693
92$14,335,655$366,314$0$12,509,805
93$15,647,253$233,624$0$13,638,968
94$17,087,888$89,688$0$14,879,401
95$18,670,574$0$0$16,242,367
96$20,409,645$0$0$17,746,832
97$22,320,893$0$0$19,410,053
98$24,421,717$0$0$21,238,293
99$26,731,284$0$0$23,248,238
100$29,270,711$0$0$25,458,273