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

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 $1,380,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$113,959$112,944$111,954$110,987$110,043$106,308
2 years$56,415$55,365$54,346$53,359$52,401$48,676
3 years$37,237$36,181$35,166$34,188$33,246$29,646
4 years$27,649$26,597$25,592$24,630$23,711$20,266
5 years$21,898$20,853$19,860$18,918$18,025$14,743
6 years$18,065$17,028$16,050$15,129$14,262$11,146
7 years$15,329$14,300$13,338$12,439$11,599$8,648
8 years$13,277$12,258$11,311$10,434$9,623$6,835
9 years$11,683$10,672$9,742$8,888$8,104$5,475
10 years$10,407$9,407$8,494$7,661$6,905$4,432
11 years$9,365$8,375$7,478$6,668$5,938$3,616
12 years$8,497$7,517$6,636$5,848$5,146$2,968
13 years$7,763$6,793$5,929$5,163$4,487$2,449
14 years$7,134$6,175$5,327$4,583$3,934$2,029
15 years$6,590$5,641$4,810$4,088$3,463$1,687
16 years$6,114$5,175$4,361$3,660$3,061$1,406
17 years$5,695$4,766$3,968$3,288$2,714$1,174
18 years$5,322$4,404$3,622$2,964$2,413$983
19 years$4,989$4,082$3,316$2,678$2,151$823
20 years$4,690$3,793$3,043$2,425$1,921$691
21 years$4,420$3,533$2,799$2,201$1,719$580
22 years$4,174$3,298$2,580$2,001$1,541$488
23 years$3,951$3,084$2,382$1,823$1,383$411
24 years$3,746$2,890$2,203$1,662$1,243$346
25 years$3,558$2,712$2,041$1,518$1,119$291
26 years$3,384$2,549$1,893$1,388$1,008$245
27 years$3,224$2,399$1,757$1,271$909$207
28 years$3,076$2,260$1,634$1,164$820$174
29 years$2,938$2,132$1,520$1,068$740$147
30 years$2,809$2,014$1,416$980$669$124
31 years$2,689$1,904$1,320$900$605$105
32 years$2,577$1,801$1,232$827$547$88
33 years$2,471$1,706$1,150$760$495$75
34 years$2,372$1,617$1,075$700$448$63
35 years$2,279$1,533$1,005$644$406$53
36 years$2,192$1,455$940$593$368$45
37 years$2,109$1,382$880$547$333$38
38 years$2,031$1,314$824$504$302$32
39 years$1,957$1,249$772$464$274$27
40 years$1,887$1,189$723$428$249$23
41 years$1,820$1,131$678$395$226$19
42 years$1,757$1,078$636$365$205$16
43 years$1,697$1,027$597$337$186$14
44 years$1,640$979$560$311$169$12
45 years$1,585$933$526$287$153$10
46 years$1,533$890$494$265$139$8
47 years$1,484$850$464$245$126$7
48 years$1,436$811$436$226$115$6
49 years$1,391$774$410$209$104$5
50 years$1,347$740$386$193$95$4

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 $6,688 every year, while hoping to spend $55,383 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: 68/12/20 Blend
61$1,380,000$1,380,000$1,380,000$1,380,000
62$1,527,659$1,454,519$1,433,129$1,623,524
63$1,624,553$1,466,863$1,422,211$1,700,823
64$1,729,474$1,477,956$1,409,072$1,778,279
65$1,843,182$1,487,678$1,393,578$1,861,666
66$1,966,514$1,495,901$1,375,590$1,951,565
67$2,100,388$1,502,490$1,354,962$2,048,617
68$2,245,816$1,507,301$1,331,542$2,153,532
69$2,403,910$1,510,179$1,305,170$2,267,090
70$2,575,894$1,510,963$1,275,678$2,390,154
71$2,763,114$1,509,479$1,242,892$2,523,675
72$2,967,052$1,505,544$1,206,629$2,668,701
73$3,189,337$1,498,961$1,166,697$2,826,391
74$3,431,765$1,489,525$1,122,896$2,998,023
75$3,696,309$1,477,016$1,075,017$3,185,004
76$3,985,143$1,461,201$1,022,841$3,388,890
77$4,300,661$1,441,832$966,139$3,611,396
78$4,645,495$1,418,650$904,672$3,854,412
79$5,022,548$1,391,375$838,190$4,120,027
80$5,435,010$1,359,716$766,433$4,410,543
81$5,886,400$1,323,360$689,126$4,728,498
82$6,380,586$1,281,978$605,986$5,076,693
83$6,921,834$1,235,223$516,715$5,458,219
84$7,514,838$1,182,726$421,001$5,876,482
85$8,164,767$1,124,096$318,521$6,335,242
86$8,877,318$1,058,920$208,935$6,838,644
87$9,658,760$986,763$91,890$7,391,260
88$10,516,002$907,163$0$7,998,131
89$11,456,652$819,632$0$8,671,866
90$12,489,091$723,654$0$9,432,934
91$13,622,550$618,685$0$10,268,554
92$14,867,199$504,150$0$11,186,275
93$16,234,239$379,439$0$12,194,412
94$17,736,010$243,910$0$13,302,132
95$19,386,108$96,886$0$14,519,536
96$21,199,508$0$0$15,857,756
97$23,192,709$0$0$17,337,293
98$25,383,888$0$0$18,977,939
99$27,793,072$0$0$20,781,908
100$30,442,323$0$0$22,765,730