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%15.2%
1 years$113,133$112,126$111,142$110,183$109,246$106,909
2 years$56,007$54,964$53,953$52,972$52,022$49,679
3 years$36,967$35,919$34,911$33,940$33,005$30,729
4 years$27,449$26,404$25,406$24,452$23,539$21,348
5 years$21,740$20,701$19,716$18,781$17,894$15,794
6 years$17,935$16,904$15,934$15,020$14,159$12,151
7 years$15,218$14,196$13,241$12,348$11,515$9,601
8 years$13,181$12,169$11,229$10,359$9,553$7,731
9 years$11,598$10,595$9,672$8,823$8,045$6,315
10 years$10,332$9,339$8,432$7,606$6,855$5,214
11 years$9,297$8,314$7,424$6,619$5,895$4,342
12 years$8,435$7,462$6,588$5,806$5,109$3,641
13 years$7,706$6,744$5,886$5,126$4,455$3,070
14 years$7,082$6,130$5,289$4,550$3,905$2,600
15 years$6,542$5,600$4,775$4,058$3,438$2,210
16 years$6,070$5,138$4,329$3,633$3,039$1,885
17 years$5,653$4,732$3,939$3,265$2,694$1,611
18 years$5,284$4,372$3,596$2,942$2,396$1,381
19 years$4,953$4,052$3,292$2,658$2,135$1,185
20 years$4,656$3,765$3,021$2,408$1,907$1,019
21 years$4,388$3,507$2,779$2,185$1,707$877
22 years$4,144$3,274$2,561$1,987$1,530$756
23 years$3,922$3,062$2,365$1,809$1,373$652
24 years$3,719$2,869$2,187$1,650$1,234$563
25 years$3,532$2,692$2,026$1,507$1,111$487
26 years$3,360$2,530$1,879$1,378$1,001$421
27 years$3,201$2,381$1,745$1,261$902$364
28 years$3,053$2,244$1,622$1,156$814$315
29 years$2,916$2,117$1,509$1,060$735$273
30 years$2,789$1,999$1,406$973$664$236
31 years$2,670$1,890$1,311$893$600$205
32 years$2,558$1,788$1,223$821$543$177
33 years$2,453$1,693$1,142$755$492$154
34 years$2,355$1,605$1,067$695$445$133
35 years$2,263$1,522$997$639$403$116
36 years$2,176$1,445$933$589$365$100
37 years$2,094$1,372$873$543$331$87
38 years$2,016$1,304$818$500$300$75
39 years$1,943$1,240$766$461$272$65
40 years$1,873$1,180$718$425$247$57
41 years$1,807$1,123$673$392$224$49
42 years$1,744$1,070$632$362$203$43
43 years$1,685$1,019$593$334$184$37
44 years$1,628$972$556$309$167$32
45 years$1,574$926$522$285$152$28
46 years$1,522$884$491$263$138$24
47 years$1,473$843$461$243$125$21
48 years$1,426$805$433$225$114$18
49 years$1,381$769$407$208$103$16
50 years$1,338$734$383$192$94$14

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 $4,042 every year, while hoping to spend $33,550 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: 80/15/5 Blend
61$1,370,000$1,370,000$1,370,000$1,370,000
62$1,513,909$1,441,299$1,420,064$1,634,455
63$1,632,631$1,476,226$1,431,940$1,748,842
64$1,762,338$1,511,740$1,443,088$1,869,458
65$1,904,115$1,547,834$1,453,450$2,000,769
66$2,059,157$1,584,500$1,462,963$2,143,823
67$2,228,780$1,621,729$1,471,561$2,299,776
68$2,414,430$1,659,509$1,479,173$2,469,900
69$2,617,705$1,697,827$1,485,728$2,655,593
70$2,840,358$1,736,668$1,491,147$2,858,399
71$3,084,325$1,776,015$1,495,351$3,080,016
72$3,351,736$1,815,850$1,498,255$3,322,314
73$3,644,936$1,856,149$1,499,770$3,587,353
74$3,966,510$1,896,890$1,499,802$3,877,403
75$4,319,302$1,938,046$1,498,253$4,194,964
76$4,706,447$1,979,587$1,495,022$4,542,788
77$5,131,398$2,021,481$1,489,999$4,923,911
78$5,597,959$2,063,691$1,483,072$5,341,672
79$6,110,318$2,106,179$1,474,122$5,799,753
80$6,673,091$2,148,903$1,463,026$6,302,210
81$7,291,362$2,191,814$1,449,652$6,853,511
82$7,970,731$2,234,864$1,433,866$7,458,579
83$8,717,369$2,277,995$1,415,524$8,122,838
84$9,538,073$2,321,150$1,394,476$8,852,263
85$10,440,333$2,364,262$1,370,567$9,653,438
86$11,432,398$2,407,261$1,343,632$10,533,618
87$12,523,358$2,450,074$1,313,500$11,500,797
88$13,723,230$2,492,616$1,279,991$12,563,781
89$15,043,047$2,534,802$1,242,919$13,732,275
90$16,494,967$2,576,537$1,202,086$15,016,973
91$18,092,385$2,617,718$1,157,287$16,429,657
92$19,850,061$2,658,238$1,108,308$17,983,311
93$21,784,254$2,697,980$1,054,924$19,692,242
94$23,912,885$2,736,817$996,900$21,572,213
95$26,255,695$2,774,617$933,992$23,640,598
96$28,834,437$2,811,235$865,943$25,916,538
97$31,673,083$2,846,518$792,484$28,421,127
98$34,798,042$2,880,303$713,338$31,177,610
99$38,238,418$2,912,413$628,210$34,211,601
100$42,026,278$2,942,663$536,797$37,551,325