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%13.3%
1 years$113,959$112,944$111,954$110,987$110,043$108,533
2 years$56,415$55,365$54,346$53,359$52,401$50,883
3 years$37,237$36,181$35,166$34,188$33,246$31,766
4 years$27,649$26,597$25,592$24,630$23,711$22,281
5 years$21,898$20,853$19,860$18,918$18,025$16,649
6 years$18,065$17,028$16,050$15,129$14,262$12,942
7 years$15,329$14,300$13,338$12,439$11,599$10,335
8 years$13,277$12,258$11,311$10,434$9,623$8,415
9 years$11,683$10,672$9,742$8,888$8,104$6,951
10 years$10,407$9,407$8,494$7,661$6,905$5,807
11 years$9,365$8,375$7,478$6,668$5,938$4,894
12 years$8,497$7,517$6,636$5,848$5,146$4,154
13 years$7,763$6,793$5,929$5,163$4,487$3,547
14 years$7,134$6,175$5,327$4,583$3,934$3,043
15 years$6,590$5,641$4,810$4,088$3,463$2,621
16 years$6,114$5,175$4,361$3,660$3,061$2,265
17 years$5,695$4,766$3,968$3,288$2,714$1,963
18 years$5,322$4,404$3,622$2,964$2,413$1,705
19 years$4,989$4,082$3,316$2,678$2,151$1,484
20 years$4,690$3,793$3,043$2,425$1,921$1,295
21 years$4,420$3,533$2,799$2,201$1,719$1,131
22 years$4,174$3,298$2,580$2,001$1,541$989
23 years$3,951$3,084$2,382$1,823$1,383$866
24 years$3,746$2,890$2,203$1,662$1,243$759
25 years$3,558$2,712$2,041$1,518$1,119$666
26 years$3,384$2,549$1,893$1,388$1,008$584
27 years$3,224$2,399$1,757$1,271$909$513
28 years$3,076$2,260$1,634$1,164$820$451
29 years$2,938$2,132$1,520$1,068$740$397
30 years$2,809$2,014$1,416$980$669$349
31 years$2,689$1,904$1,320$900$605$307
32 years$2,577$1,801$1,232$827$547$270
33 years$2,471$1,706$1,150$760$495$238
34 years$2,372$1,617$1,075$700$448$210
35 years$2,279$1,533$1,005$644$406$185
36 years$2,192$1,455$940$593$368$163
37 years$2,109$1,382$880$547$333$144
38 years$2,031$1,314$824$504$302$127
39 years$1,957$1,249$772$464$274$112
40 years$1,887$1,189$723$428$249$98
41 years$1,820$1,131$678$395$226$87
42 years$1,757$1,078$636$365$205$77
43 years$1,697$1,027$597$337$186$68
44 years$1,640$979$560$311$169$60
45 years$1,585$933$526$287$153$53
46 years$1,533$890$494$265$139$46
47 years$1,484$850$464$245$126$41
48 years$1,436$811$436$226$115$36
49 years$1,391$774$410$209$104$32
50 years$1,347$740$386$193$95$28

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 $4,498 every year, while hoping to spend $58,265 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: 46/35/19 Blend
61$1,380,000$1,380,000$1,380,000$1,380,000
62$1,525,400$1,452,260$1,430,870$1,587,099
63$1,618,997$1,461,427$1,416,810$1,639,843
64$1,720,188$1,469,091$1,400,327$1,690,854
65$1,829,687$1,475,115$1,381,278$1,744,974
66$1,948,277$1,479,358$1,359,512$1,802,519
67$2,076,819$1,481,665$1,334,874$1,863,840
68$2,216,263$1,481,874$1,307,200$1,929,325
69$2,367,649$1,479,813$1,276,319$1,999,406
70$2,532,124$1,475,299$1,242,050$2,074,561
71$2,710,949$1,468,137$1,204,208$2,155,322
72$2,905,512$1,458,122$1,162,595$2,242,277
73$3,117,339$1,445,035$1,117,007$2,336,082
74$3,348,110$1,428,643$1,067,228$2,437,458
75$3,599,672$1,408,702$1,013,035$2,547,211
76$3,874,060$1,384,950$954,194$2,666,228
77$4,173,514$1,357,112$890,458$2,795,497
78$4,500,497$1,324,895$821,573$2,936,108
79$4,857,722$1,287,990$747,271$3,089,272
80$5,248,178$1,246,069$667,272$3,256,327
81$5,675,151$1,198,786$581,285$3,438,757
82$6,142,263$1,145,773$489,004$3,638,201
83$6,653,500$1,086,642$390,112$3,856,476
84$7,213,252$1,020,982$284,276$4,095,592
85$7,826,353$948,360$171,149$4,357,771
86$8,498,127$868,315$50,368$4,645,474
87$9,234,436$780,363$0$4,961,419
88$10,041,739$683,991$0$5,324,534
89$10,927,146$578,657$0$5,734,157
90$11,898,491$463,787$0$6,183,826
91$12,964,402$338,777$0$6,677,692
92$14,134,382$202,988$0$7,220,338
93$15,418,899$55,745$0$7,816,821
94$16,829,486$0$0$8,472,725
95$18,378,846$0$0$9,234,138
96$20,080,971$0$0$10,094,382
97$21,951,280$0$0$11,039,799
98$24,006,754$0$0$12,078,996
99$26,266,104$0$0$13,221,455
100$28,749,944$0$0$14,477,622