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

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 $1,390,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$114,785$113,762$112,765$111,791$110,841$108,030
2 years$56,824$55,766$54,740$53,746$52,781$49,967
3 years$37,507$36,444$35,421$34,435$33,487$30,758
4 years$27,850$26,790$25,777$24,809$23,883$21,261
5 years$22,057$21,004$20,004$19,056$18,155$15,647
6 years$18,196$17,151$16,166$15,239$14,366$11,973
7 years$15,440$14,403$13,434$12,529$11,683$9,406
8 years$13,374$12,346$11,393$10,510$9,692$7,531
9 years$11,767$10,750$9,813$8,952$8,162$6,114
10 years$10,483$9,475$8,555$7,717$6,955$5,017
11 years$9,433$8,435$7,532$6,716$5,981$4,152
12 years$8,558$7,571$6,684$5,891$5,183$3,459
13 years$7,819$6,842$5,972$5,201$4,520$2,897
14 years$7,186$6,219$5,366$4,617$3,962$2,437
15 years$6,637$5,681$4,845$4,117$3,489$2,057
16 years$6,158$5,213$4,392$3,687$3,083$1,742
17 years$5,736$4,801$3,997$3,312$2,734$1,478
18 years$5,361$4,436$3,649$2,985$2,431$1,257
19 years$5,025$4,111$3,340$2,697$2,167$1,071
20 years$4,724$3,820$3,065$2,443$1,935$914
21 years$4,452$3,559$2,820$2,217$1,732$781
22 years$4,205$3,322$2,599$2,016$1,552$668
23 years$3,979$3,107$2,399$1,836$1,393$572
24 years$3,773$2,911$2,219$1,674$1,252$490
25 years$3,584$2,732$2,055$1,529$1,127$420
26 years$3,409$2,567$1,906$1,398$1,015$360
27 years$3,248$2,416$1,770$1,280$915$309
28 years$3,098$2,277$1,646$1,173$826$265
29 years$2,959$2,148$1,531$1,075$746$228
30 years$2,829$2,028$1,426$987$674$196
31 years$2,709$1,918$1,330$906$609$168
32 years$2,595$1,814$1,241$833$551$145
33 years$2,489$1,718$1,158$766$499$124
34 years$2,390$1,628$1,082$705$452$107
35 years$2,296$1,545$1,012$649$409$92
36 years$2,208$1,466$947$597$371$79
37 years$2,124$1,392$886$551$336$68
38 years$2,046$1,323$830$507$304$58
39 years$1,971$1,258$777$468$276$50
40 years$1,900$1,197$729$432$250$43
41 years$1,833$1,140$683$398$227$37
42 years$1,770$1,085$641$367$206$32
43 years$1,709$1,034$601$339$187$28
44 years$1,652$986$565$313$170$24
45 years$1,597$940$530$289$154$20
46 years$1,544$897$498$267$140$18
47 years$1,494$856$468$247$127$15
48 years$1,447$817$440$228$115$13
49 years$1,401$780$413$211$105$11
50 years$1,357$745$388$195$95$10

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 $5,181 every year, while hoping to spend $34,697 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: 61/21/18 Blend
61$1,390,000$1,390,000$1,390,000$1,390,000
62$1,537,124$1,463,454$1,441,909$1,623,489
63$1,656,994$1,498,246$1,453,296$1,717,169
64$1,787,927$1,533,580$1,463,901$1,815,033
65$1,931,015$1,569,446$1,473,662$1,921,031
66$2,087,462$1,605,831$1,482,513$2,035,956
67$2,258,590$1,642,724$1,490,383$2,160,683
68$2,445,856$1,680,107$1,497,201$2,296,174
69$2,650,865$1,717,965$1,502,890$2,443,490
70$2,875,385$1,756,277$1,507,368$2,603,800
71$3,121,361$1,795,021$1,510,551$2,778,390
72$3,390,936$1,834,173$1,512,351$2,968,681
73$3,686,470$1,873,706$1,512,674$3,176,234
74$4,010,564$1,913,591$1,511,421$3,402,774
75$4,366,079$1,953,794$1,508,492$3,650,198
76$4,756,169$1,994,281$1,503,776$3,920,599
77$5,184,308$2,035,010$1,497,163$4,216,281
78$5,654,322$2,075,940$1,488,532$4,539,786
79$6,170,426$2,117,024$1,477,761$4,893,913
80$6,737,262$2,158,211$1,464,719$5,281,749
81$7,359,945$2,199,446$1,449,270$5,706,693
82$8,044,110$2,240,670$1,431,271$6,172,495
83$8,795,963$2,281,817$1,410,572$6,683,284
84$9,622,343$2,322,817$1,387,018$7,243,613
85$10,530,784$2,363,597$1,360,444$7,858,500
86$11,529,584$2,404,073$1,330,680$8,533,474
87$12,627,889$2,444,160$1,297,545$9,274,629
88$13,835,773$2,483,763$1,260,852$10,088,684
89$15,164,336$2,522,782$1,220,405$10,983,040
90$16,625,808$2,561,108$1,175,998$11,965,857
91$18,233,663$2,598,625$1,127,417$13,046,128
92$20,002,749$2,635,210$1,074,437$14,233,763
93$21,949,423$2,670,728$1,016,824$15,539,687
94$24,091,708$2,705,039$954,332$16,975,939
95$26,449,466$2,737,989$886,705$18,555,787
96$29,044,577$2,769,416$813,676$20,293,857
97$31,901,153$2,799,147$734,964$22,206,266
98$35,045,763$2,826,997$650,277$24,310,778
99$38,507,679$2,852,768$559,309$26,626,972
100$42,319,159$2,876,250$461,743$29,176,426