Can I retire at age 62 with 1,380,000?

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 $1,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.4%
1 years$113,959$112,944$111,954$110,987$110,043$108,042
2 years$56,415$55,365$54,346$53,359$52,401$50,393
3 years$37,237$36,181$35,166$34,188$33,246$31,292
4 years$27,649$26,597$25,592$24,630$23,711$21,827
5 years$21,898$20,853$19,860$18,918$18,025$16,216
6 years$18,065$17,028$16,050$15,129$14,262$12,531
7 years$15,329$14,300$13,338$12,439$11,599$9,945
8 years$13,277$12,258$11,311$10,434$9,623$8,046
9 years$11,683$10,672$9,742$8,888$8,104$6,603
10 years$10,407$9,407$8,494$7,661$6,905$5,479
11 years$9,365$8,375$7,478$6,668$5,938$4,586
12 years$8,497$7,517$6,636$5,848$5,146$3,866
13 years$7,763$6,793$5,929$5,163$4,487$3,277
14 years$7,134$6,175$5,327$4,583$3,934$2,790
15 years$6,590$5,641$4,810$4,088$3,463$2,385
16 years$6,114$5,175$4,361$3,660$3,061$2,045
17 years$5,695$4,766$3,968$3,288$2,714$1,759
18 years$5,322$4,404$3,622$2,964$2,413$1,516
19 years$4,989$4,082$3,316$2,678$2,151$1,309
20 years$4,690$3,793$3,043$2,425$1,921$1,132
21 years$4,420$3,533$2,799$2,201$1,719$981
22 years$4,174$3,298$2,580$2,001$1,541$851
23 years$3,951$3,084$2,382$1,823$1,383$738
24 years$3,746$2,890$2,203$1,662$1,243$642
25 years$3,558$2,712$2,041$1,518$1,119$558
26 years$3,384$2,549$1,893$1,388$1,008$486
27 years$3,224$2,399$1,757$1,271$909$423
28 years$3,076$2,260$1,634$1,164$820$368
29 years$2,938$2,132$1,520$1,068$740$321
30 years$2,809$2,014$1,416$980$669$280
31 years$2,689$1,904$1,320$900$605$244
32 years$2,577$1,801$1,232$827$547$213
33 years$2,471$1,706$1,150$760$495$186
34 years$2,372$1,617$1,075$700$448$162
35 years$2,279$1,533$1,005$644$406$142
36 years$2,192$1,455$940$593$368$124
37 years$2,109$1,382$880$547$333$108
38 years$2,031$1,314$824$504$302$94
39 years$1,957$1,249$772$464$274$82
40 years$1,887$1,189$723$428$249$72
41 years$1,820$1,131$678$395$226$63
42 years$1,757$1,078$636$365$205$55
43 years$1,697$1,027$597$337$186$48
44 years$1,640$979$560$311$169$42
45 years$1,585$933$526$287$153$37
46 years$1,533$890$494$265$139$32
47 years$1,484$850$464$245$126$28
48 years$1,436$811$436$226$115$24
49 years$1,391$774$410$209$104$21
50 years$1,347$740$386$193$95$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,380,000, adding $6,238 every year, while hoping to spend $49,404 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: 48/30/22 Blend
61$1,380,000$1,380,000$1,380,000$1,380,000
62$1,527,194$1,454,054$1,432,664$1,590,704
63$1,630,403$1,472,738$1,428,093$1,654,328
64$1,742,483$1,490,681$1,421,713$1,717,927
65$1,864,287$1,507,795$1,413,411$1,785,976
66$1,996,753$1,523,986$1,403,070$1,858,914
67$2,140,913$1,539,153$1,390,564$1,937,228
68$2,297,904$1,553,188$1,375,765$2,021,455
69$2,468,974$1,565,978$1,358,537$2,112,189
70$2,655,498$1,577,400$1,338,737$2,210,088
71$2,858,991$1,587,325$1,316,217$2,315,876
72$3,081,117$1,595,613$1,290,820$2,430,357
73$3,323,712$1,602,119$1,262,383$2,554,417
74$3,588,794$1,606,686$1,230,736$2,689,037
75$3,878,585$1,609,148$1,195,699$2,835,298
76$4,195,532$1,609,327$1,157,087$2,994,399
77$4,542,330$1,607,038$1,114,703$3,167,659
78$4,921,945$1,602,080$1,068,343$3,356,541
79$5,337,644$1,594,243$1,017,793$3,562,657
80$5,793,025$1,583,302$962,830$3,787,788
81$6,292,049$1,569,019$903,220$4,033,903
82$6,839,080$1,551,143$838,720$4,303,175
83$7,438,923$1,529,406$769,075$4,598,004
84$8,096,871$1,503,525$694,017$4,921,041
85$8,818,755$1,473,200$613,269$5,275,210
86$9,610,994$1,438,114$526,540$5,663,745
87$10,480,663$1,397,928$433,526$6,090,210
88$11,435,552$1,352,289$333,911$6,558,543
89$12,484,245$1,300,817$227,363$7,073,091
90$13,636,195$1,243,115$113,537$7,638,651
91$14,901,820$1,178,760$0$8,260,518
92$16,292,591$1,107,306$0$8,946,397
93$17,821,152$1,028,280$0$9,729,439
94$19,501,427$941,183$0$10,590,171
95$21,348,760$845,488$0$11,536,544
96$23,380,053$740,637$0$12,577,322
97$25,613,931$626,040$0$13,722,170
98$28,070,911$501,075$0$14,981,744
99$30,773,600$365,084$0$16,367,796
100$33,746,906$217,373$0$17,893,281