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%18.8%
1 years$114,785$113,762$112,765$111,791$110,841$106,908
2 years$56,824$55,766$54,740$53,746$52,781$48,861
3 years$37,507$36,444$35,421$34,435$33,487$29,702
4 years$27,850$26,790$25,777$24,809$23,883$20,263
5 years$22,057$21,004$20,004$19,056$18,155$14,710
6 years$18,196$17,151$16,166$15,239$14,366$11,097
7 years$15,440$14,403$13,434$12,529$11,683$8,590
8 years$13,374$12,346$11,393$10,510$9,692$6,773
9 years$11,767$10,750$9,813$8,952$8,162$5,412
10 years$10,483$9,475$8,555$7,717$6,955$4,370
11 years$9,433$8,435$7,532$6,716$5,981$3,556
12 years$8,558$7,571$6,684$5,891$5,183$2,912
13 years$7,819$6,842$5,972$5,201$4,520$2,396
14 years$7,186$6,219$5,366$4,617$3,962$1,979
15 years$6,637$5,681$4,845$4,117$3,489$1,641
16 years$6,158$5,213$4,392$3,687$3,083$1,363
17 years$5,736$4,801$3,997$3,312$2,734$1,135
18 years$5,361$4,436$3,649$2,985$2,431$947
19 years$5,025$4,111$3,340$2,697$2,167$791
20 years$4,724$3,820$3,065$2,443$1,935$662
21 years$4,452$3,559$2,820$2,217$1,732$554
22 years$4,205$3,322$2,599$2,016$1,552$465
23 years$3,979$3,107$2,399$1,836$1,393$390
24 years$3,773$2,911$2,219$1,674$1,252$327
25 years$3,584$2,732$2,055$1,529$1,127$275
26 years$3,409$2,567$1,906$1,398$1,015$231
27 years$3,248$2,416$1,770$1,280$915$194
28 years$3,098$2,277$1,646$1,173$826$163
29 years$2,959$2,148$1,531$1,075$746$137
30 years$2,829$2,028$1,426$987$674$115
31 years$2,709$1,918$1,330$906$609$97
32 years$2,595$1,814$1,241$833$551$81
33 years$2,489$1,718$1,158$766$499$69
34 years$2,390$1,628$1,082$705$452$58
35 years$2,296$1,545$1,012$649$409$48
36 years$2,208$1,466$947$597$371$41
37 years$2,124$1,392$886$551$336$34
38 years$2,046$1,323$830$507$304$29
39 years$1,971$1,258$777$468$276$24
40 years$1,900$1,197$729$432$250$20
41 years$1,833$1,140$683$398$227$17
42 years$1,770$1,085$641$367$206$14
43 years$1,709$1,034$601$339$187$12
44 years$1,652$986$565$313$170$10
45 years$1,597$940$530$289$154$9
46 years$1,544$897$498$267$140$7
47 years$1,494$856$468$247$127$6
48 years$1,447$817$440$228$115$5
49 years$1,401$780$413$211$105$4
50 years$1,357$745$388$195$95$4

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 $6,596 every year, while hoping to spend $40,978 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: 24/50/26 Blend
61$1,390,000$1,390,000$1,390,000$1,390,000
62$1,538,584$1,464,914$1,443,369$1,562,727
63$1,651,919$1,493,094$1,448,121$1,611,667
64$1,775,441$1,521,282$1,451,660$1,660,151
65$1,910,146$1,549,435$1,453,900$1,711,228
66$2,057,129$1,577,505$1,454,754$1,765,139
67$2,217,597$1,605,444$1,454,129$1,822,152
68$2,392,878$1,633,197$1,451,929$1,882,565
69$2,584,434$1,660,706$1,448,051$1,946,707
70$2,793,875$1,687,909$1,442,389$2,014,942
71$3,022,972$1,714,738$1,434,830$2,087,673
72$3,273,676$1,741,122$1,425,259$2,165,347
73$3,548,137$1,766,983$1,413,551$2,248,459
74$3,848,720$1,792,238$1,399,578$2,337,557
75$4,178,031$1,816,799$1,383,205$2,433,247
76$4,538,939$1,840,571$1,364,291$2,536,201
77$4,934,604$1,863,452$1,342,688$2,647,161
78$5,368,507$1,885,334$1,318,241$2,766,950
79$5,844,481$1,906,102$1,290,789$2,896,478
80$6,366,748$1,925,631$1,260,160$3,036,750
81$6,939,960$1,943,791$1,226,179$3,188,881
82$7,569,239$1,960,440$1,188,659$3,354,102
83$8,260,229$1,975,429$1,147,407$3,533,774
84$9,019,146$1,988,598$1,102,219$3,729,405
85$9,852,838$1,999,779$1,052,883$3,942,659
86$10,768,850$2,008,790$999,176$4,175,378
87$11,775,492$2,015,441$940,868$4,429,596
88$12,881,920$2,019,526$877,716$4,707,564
89$14,098,222$2,020,828$809,465$5,011,767
90$15,435,511$2,019,119$735,852$5,344,954
91$16,906,030$2,014,153$656,601$5,710,159
92$18,523,269$2,005,671$571,421$6,110,738
93$20,302,091$1,993,397$480,012$6,550,395
94$22,258,870$1,977,039$382,058$7,033,224
95$24,411,648$1,956,287$277,230$7,563,746
96$26,780,305$1,930,814$165,186$8,146,954
97$29,386,742$1,900,270$45,566$8,788,361
98$32,255,094$1,864,288$0$9,494,059
99$35,411,951$1,822,475$0$10,293,541
100$38,886,613$1,774,420$0$11,186,430