Can I retire at age 62 with 1,370,000?

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 $1,370,000?

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$113,133$112,126$111,142$110,183$109,246$106,865
2 years$56,007$54,964$53,953$52,972$52,022$49,636
3 years$36,967$35,919$34,911$33,940$33,005$30,687
4 years$27,449$26,404$25,406$24,452$23,539$21,308
5 years$21,740$20,701$19,716$18,781$17,894$15,756
6 years$17,935$16,904$15,934$15,020$14,159$12,116
7 years$15,218$14,196$13,241$12,348$11,515$9,567
8 years$13,181$12,169$11,229$10,359$9,553$7,700
9 years$11,598$10,595$9,672$8,823$8,045$6,285
10 years$10,332$9,339$8,432$7,606$6,855$5,187
11 years$9,297$8,314$7,424$6,619$5,895$4,317
12 years$8,435$7,462$6,588$5,806$5,109$3,617
13 years$7,706$6,744$5,886$5,126$4,455$3,048
14 years$7,082$6,130$5,289$4,550$3,905$2,580
15 years$6,542$5,600$4,775$4,058$3,438$2,191
16 years$6,070$5,138$4,329$3,633$3,039$1,867
17 years$5,653$4,732$3,939$3,265$2,694$1,595
18 years$5,284$4,372$3,596$2,942$2,396$1,366
19 years$4,953$4,052$3,292$2,658$2,135$1,172
20 years$4,656$3,765$3,021$2,408$1,907$1,007
21 years$4,388$3,507$2,779$2,185$1,707$866
22 years$4,144$3,274$2,561$1,987$1,530$746
23 years$3,922$3,062$2,365$1,809$1,373$643
24 years$3,719$2,869$2,187$1,650$1,234$555
25 years$3,532$2,692$2,026$1,507$1,111$479
26 years$3,360$2,530$1,879$1,378$1,001$414
27 years$3,201$2,381$1,745$1,261$902$358
28 years$3,053$2,244$1,622$1,156$814$309
29 years$2,916$2,117$1,509$1,060$735$268
30 years$2,789$1,999$1,406$973$664$232
31 years$2,670$1,890$1,311$893$600$200
32 years$2,558$1,788$1,223$821$543$174
33 years$2,453$1,693$1,142$755$492$150
34 years$2,355$1,605$1,067$695$445$130
35 years$2,263$1,522$997$639$403$113
36 years$2,176$1,445$933$589$365$98
37 years$2,094$1,372$873$543$331$85
38 years$2,016$1,304$818$500$300$73
39 years$1,943$1,240$766$461$272$64
40 years$1,873$1,180$718$425$247$55
41 years$1,807$1,123$673$392$224$48
42 years$1,744$1,070$632$362$203$41
43 years$1,685$1,019$593$334$184$36
44 years$1,628$972$556$309$167$31
45 years$1,574$926$522$285$152$27
46 years$1,522$884$491$263$138$23
47 years$1,473$843$461$243$125$20
48 years$1,426$805$433$225$114$18
49 years$1,381$769$407$208$103$15
50 years$1,338$734$383$192$94$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,370,000, adding $5,341 every year, while hoping to spend $44,154 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: 59/11/30 Blend
61$1,370,000$1,370,000$1,370,000$1,370,000
62$1,515,249$1,442,639$1,421,404$1,591,941
63$1,622,825$1,466,349$1,422,042$1,668,787
64$1,739,894$1,489,741$1,421,221$1,747,459
65$1,867,377$1,512,752$1,418,846$1,832,381
66$2,006,289$1,535,317$1,414,817$1,924,172
67$2,157,746$1,557,363$1,409,029$2,023,519
68$2,322,977$1,578,814$1,401,371$2,131,176
69$2,503,332$1,599,588$1,391,729$2,247,978
70$2,700,302$1,619,597$1,379,982$2,374,845
71$2,915,523$1,638,748$1,366,002$2,512,792
72$3,150,801$1,656,941$1,349,657$2,662,940
73$3,408,121$1,674,069$1,330,809$2,826,524
74$3,689,669$1,690,018$1,309,311$3,004,909
75$3,997,854$1,704,668$1,285,011$3,199,598
76$4,335,326$1,717,888$1,257,750$3,412,252
77$4,705,006$1,729,541$1,227,362$3,644,700
78$5,110,109$1,739,481$1,193,671$3,898,964
79$5,554,176$1,747,551$1,156,494$4,177,270
80$6,041,107$1,753,586$1,115,642$4,482,077
81$6,575,197$1,757,410$1,070,914$4,816,095
82$7,161,179$1,758,834$1,022,101$5,182,314
83$7,804,263$1,757,661$968,985$5,584,032
84$8,510,190$1,753,679$911,338$6,024,887
85$9,285,284$1,746,663$848,922$6,508,890
86$10,136,509$1,736,375$781,487$7,040,465
87$11,071,538$1,722,563$708,773$7,624,493
88$12,098,826$1,704,960$630,507$8,266,353
89$13,227,684$1,683,280$546,407$8,971,980
90$14,468,371$1,657,224$456,175$9,747,917
91$15,832,189$1,626,472$359,501$10,601,380
92$17,331,589$1,590,687$256,061$11,540,327
93$18,980,291$1,549,510$145,519$12,573,530
94$20,793,408$1,502,564$27,521$13,710,664
95$22,787,593$1,449,446$0$14,962,395
96$24,981,192$1,389,734$0$16,371,985
97$27,394,420$1,322,977$0$17,932,349
98$30,049,550$1,248,702$0$19,649,094
99$32,971,120$1,166,405$0$21,538,118
100$36,186,172$1,075,556$0$23,616,937