Can I retire at age 62 with 1,400,000?

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 $1,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$115,611$114,581$113,576$112,596$111,638$109,834
2 years$57,233$56,167$55,134$54,132$53,161$51,348
3 years$37,776$36,706$35,675$34,683$33,727$31,963
4 years$28,050$26,983$25,963$24,987$24,055$22,351
5 years$22,216$21,155$20,148$19,193$18,286$16,649
6 years$18,327$17,274$16,283$15,349$14,469$12,900
7 years$15,551$14,507$13,531$12,619$11,767$10,267
8 years$13,470$12,435$11,475$10,586$9,762$8,331
9 years$11,852$10,827$9,884$9,017$8,221$6,857
10 years$10,558$9,544$8,617$7,772$7,005$5,708
11 years$9,501$8,496$7,586$6,764$6,024$4,792
12 years$8,620$7,626$6,732$5,933$5,221$4,052
13 years$7,875$6,891$6,015$5,238$4,552$3,446
14 years$7,237$6,264$5,405$4,650$3,991$2,944
15 years$6,685$5,722$4,880$4,147$3,514$2,526
16 years$6,203$5,250$4,424$3,713$3,105$2,174
17 years$5,777$4,835$4,026$3,336$2,753$1,876
18 years$5,399$4,468$3,675$3,007$2,448$1,623
19 years$5,062$4,141$3,364$2,717$2,182$1,406
20 years$4,758$3,848$3,088$2,460$1,949$1,221
21 years$4,484$3,584$2,840$2,233$1,744$1,062
22 years$4,235$3,346$2,617$2,030$1,563$924
23 years$4,008$3,129$2,417$1,849$1,403$805
24 years$3,800$2,932$2,235$1,686$1,261$703
25 years$3,609$2,751$2,070$1,540$1,135$613
26 years$3,434$2,586$1,920$1,408$1,022$536
27 years$3,271$2,434$1,783$1,289$922$469
28 years$3,120$2,293$1,657$1,181$832$410
29 years$2,980$2,163$1,542$1,083$751$359
30 years$2,850$2,043$1,437$994$679$314
31 years$2,728$1,931$1,339$913$614$275
32 years$2,614$1,827$1,250$839$555$241
33 years$2,507$1,731$1,167$771$502$211
34 years$2,407$1,640$1,090$710$455$185
35 years$2,312$1,556$1,019$653$412$162
36 years$2,224$1,477$953$602$373$142
37 years$2,140$1,402$892$554$338$125
38 years$2,060$1,333$836$511$307$109
39 years$1,985$1,267$783$471$278$96
40 years$1,914$1,206$734$435$252$84
41 years$1,847$1,148$688$401$229$74
42 years$1,782$1,093$646$370$208$65
43 years$1,721$1,042$606$342$188$57
44 years$1,663$993$569$315$171$50
45 years$1,608$947$534$291$155$44
46 years$1,555$903$501$269$141$38
47 years$1,505$862$471$249$128$34
48 years$1,457$823$443$230$116$30
49 years$1,411$786$416$212$106$26
50 years$1,367$751$391$196$96$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,400,000, adding $4,563 every year, while hoping to spend $54,993 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: 57/30/13 Blend
61$1,400,000$1,400,000$1,400,000$1,400,000
62$1,547,507$1,473,307$1,451,607$1,630,368
63$1,646,840$1,486,987$1,441,723$1,700,621
64$1,754,463$1,499,494$1,429,666$1,770,681
65$1,871,161$1,510,712$1,415,303$1,845,732
66$1,997,802$1,520,520$1,398,498$1,926,260
67$2,135,338$1,528,785$1,379,108$2,012,803
68$2,284,815$1,535,368$1,356,981$2,105,956
69$2,447,387$1,540,122$1,331,960$2,206,375
70$2,624,322$1,542,889$1,303,882$2,314,784
71$2,817,013$1,543,501$1,272,572$2,431,984
72$3,026,997$1,541,781$1,237,852$2,558,859
73$3,255,962$1,537,540$1,199,532$2,696,386
74$3,505,769$1,530,578$1,157,415$2,845,644
75$3,778,463$1,520,683$1,111,294$3,007,824
76$4,076,299$1,507,628$1,060,955$3,184,241
77$4,401,755$1,491,175$1,006,170$3,376,348
78$4,757,562$1,471,071$946,705$3,585,748
79$5,146,726$1,447,047$882,313$3,814,213
80$5,572,559$1,418,818$812,736$4,063,697
81$6,038,703$1,386,084$737,706$4,336,359
82$6,549,173$1,348,524$656,942$4,634,583
83$7,108,388$1,305,801$570,149$4,960,999
84$7,721,216$1,257,558$477,021$5,318,511
85$8,393,017$1,203,415$377,239$5,710,325
86$9,129,695$1,142,973$270,467$6,139,977
87$9,937,753$1,075,808$156,357$6,611,373
88$10,824,354$1,001,472$34,544$7,128,822
89$11,797,385$919,492$0$7,697,079
90$12,865,538$829,366$0$8,334,633
91$14,038,383$730,566$0$9,040,009
92$15,326,467$622,532$0$9,814,857
93$16,741,405$504,674$0$10,666,287
94$18,295,993$376,368$0$11,602,140
95$20,004,328$236,954$0$12,631,065
96$21,881,941$85,736$0$13,762,596
97$23,945,941$0$0$15,007,250
98$26,215,179$0$0$16,402,378
99$28,710,421$0$0$17,967,710
100$31,454,549$0$0$19,689,314