Can I retire at age 62 with 1,390,000?

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 $1,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$114,785$113,762$112,765$111,791$110,841$108,692
2 years$56,824$55,766$54,740$53,746$52,781$50,625
3 years$37,507$36,444$35,421$34,435$33,487$31,390
4 years$27,850$26,790$25,777$24,809$23,883$21,862
5 years$22,057$21,004$20,004$19,056$18,155$16,217
6 years$18,196$17,151$16,166$15,239$14,366$12,511
7 years$15,440$14,403$13,434$12,529$11,683$9,913
8 years$13,374$12,346$11,393$10,510$9,692$8,006
9 years$11,767$10,750$9,813$8,952$8,162$6,559
10 years$10,483$9,475$8,555$7,717$6,955$5,432
11 years$9,433$8,435$7,532$6,716$5,981$4,538
12 years$8,558$7,571$6,684$5,891$5,183$3,818
13 years$7,819$6,842$5,972$5,201$4,520$3,230
14 years$7,186$6,219$5,366$4,617$3,962$2,745
15 years$6,637$5,681$4,845$4,117$3,489$2,341
16 years$6,158$5,213$4,392$3,687$3,083$2,004
17 years$5,736$4,801$3,997$3,312$2,734$1,719
18 years$5,361$4,436$3,649$2,985$2,431$1,478
19 years$5,025$4,111$3,340$2,697$2,167$1,274
20 years$4,724$3,820$3,065$2,443$1,935$1,099
21 years$4,452$3,559$2,820$2,217$1,732$950
22 years$4,205$3,322$2,599$2,016$1,552$822
23 years$3,979$3,107$2,399$1,836$1,393$712
24 years$3,773$2,911$2,219$1,674$1,252$617
25 years$3,584$2,732$2,055$1,529$1,127$535
26 years$3,409$2,567$1,906$1,398$1,015$465
27 years$3,248$2,416$1,770$1,280$915$404
28 years$3,098$2,277$1,646$1,173$826$351
29 years$2,959$2,148$1,531$1,075$746$305
30 years$2,829$2,028$1,426$987$674$265
31 years$2,709$1,918$1,330$906$609$231
32 years$2,595$1,814$1,241$833$551$201
33 years$2,489$1,718$1,158$766$499$175
34 years$2,390$1,628$1,082$705$452$152
35 years$2,296$1,545$1,012$649$409$133
36 years$2,208$1,466$947$597$371$115
37 years$2,124$1,392$886$551$336$101
38 years$2,046$1,323$830$507$304$88
39 years$1,971$1,258$777$468$276$76
40 years$1,900$1,197$729$432$250$66
41 years$1,833$1,140$683$398$227$58
42 years$1,770$1,085$641$367$206$50
43 years$1,709$1,034$601$339$187$44
44 years$1,652$986$565$313$170$38
45 years$1,597$940$530$289$154$33
46 years$1,544$897$498$267$140$29
47 years$1,494$856$468$247$127$25
48 years$1,447$817$440$228$115$22
49 years$1,401$780$413$211$105$19
50 years$1,357$745$388$195$95$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,390,000, adding $2,761 every year, while hoping to spend $21,786 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: 33/42/25 Blend
61$1,390,000$1,390,000$1,390,000$1,390,000
62$1,534,628$1,460,958$1,439,413$1,573,482
63$1,667,980$1,509,365$1,464,453$1,651,403
64$1,814,204$1,559,413$1,489,602$1,733,173
65$1,974,589$1,611,161$1,514,840$1,820,865
66$2,150,556$1,664,668$1,540,147$1,915,019
67$2,343,671$1,719,995$1,565,500$2,016,224
68$2,555,658$1,777,206$1,590,876$2,125,129
69$2,788,414$1,836,368$1,616,249$2,242,448
70$3,044,031$1,897,550$1,641,593$2,368,965
71$3,324,815$1,960,822$1,666,879$2,505,541
72$3,633,302$2,026,258$1,692,076$2,653,124
73$3,972,290$2,093,936$1,717,151$2,812,758
74$4,344,859$2,163,935$1,742,071$2,985,587
75$4,754,404$2,236,336$1,766,799$3,172,874
76$5,204,662$2,311,225$1,791,296$3,376,005
77$5,699,754$2,388,692$1,815,521$3,596,508
78$6,244,218$2,468,827$1,839,430$3,836,062
79$6,843,054$2,551,726$1,862,977$4,096,515
80$7,501,773$2,637,487$1,886,114$4,379,903
81$8,226,444$2,726,214$1,908,789$4,688,464
82$9,023,755$2,818,013$1,930,947$5,024,664
83$9,901,076$2,912,993$1,952,532$5,391,216
84$10,866,525$3,011,270$1,973,482$5,791,108
85$11,929,050$3,112,961$1,993,733$6,227,629
86$13,098,508$3,218,191$2,013,218$6,704,401
87$14,385,761$3,327,087$2,031,865$7,225,412
88$15,802,776$3,439,782$2,049,600$7,795,054
89$17,362,742$3,556,414$2,066,344$8,418,162
90$19,080,188$3,677,125$2,082,013$9,100,062
91$20,971,127$3,802,064$2,096,521$9,846,621
92$23,053,202$3,931,385$2,109,774$10,664,298
93$25,345,853$4,065,248$2,121,676$11,560,208
94$27,870,504$4,203,819$2,132,126$12,542,190
95$30,650,759$4,347,269$2,141,016$13,618,876
96$33,712,631$4,495,780$2,148,234$14,799,775
97$37,084,781$4,649,535$2,153,662$16,095,362
98$40,798,795$4,808,728$2,157,176$17,517,177
99$44,889,476$4,973,560$2,158,645$19,077,930
100$49,395,176$5,144,238$2,157,934$20,791,627