Can I retire at age 62 with 1,410,000?

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 $1,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$116,436$115,399$114,387$113,400$112,435$110,075
2 years$57,642$56,568$55,528$54,519$53,541$51,174
3 years$38,046$36,968$35,930$34,931$33,968$31,669
4 years$28,250$27,175$26,148$25,166$24,227$22,012
5 years$22,374$21,306$20,292$19,330$18,417$16,294
6 years$18,458$17,398$16,399$15,458$14,572$12,543
7 years$15,662$14,611$13,628$12,709$11,851$9,916
8 years$13,566$12,524$11,557$10,661$9,832$7,990
9 years$11,937$10,904$9,954$9,081$8,280$6,530
10 years$10,634$9,612$8,678$7,828$7,055$5,395
11 years$9,569$8,557$7,640$6,813$6,067$4,496
12 years$8,681$7,680$6,781$5,976$5,258$3,772
13 years$7,931$6,941$6,058$5,276$4,585$3,183
14 years$7,289$6,309$5,443$4,683$4,019$2,697
15 years$6,733$5,763$4,914$4,176$3,539$2,295
16 years$6,247$5,288$4,456$3,740$3,128$1,958
17 years$5,818$4,870$4,054$3,360$2,773$1,675
18 years$5,438$4,500$3,701$3,028$2,466$1,437
19 years$5,098$4,170$3,388$2,736$2,198$1,234
20 years$4,792$3,875$3,110$2,478$1,963$1,062
21 years$4,516$3,610$2,860$2,249$1,757$915
22 years$4,265$3,370$2,636$2,045$1,575$789
23 years$4,037$3,151$2,434$1,862$1,414$681
24 years$3,827$2,953$2,251$1,698$1,270$589
25 years$3,635$2,771$2,085$1,551$1,143$509
26 years$3,458$2,604$1,934$1,418$1,030$441
27 years$3,294$2,451$1,796$1,298$928$381
28 years$3,143$2,309$1,669$1,189$838$330
29 years$3,002$2,179$1,553$1,091$756$286
30 years$2,870$2,058$1,447$1,001$684$248
31 years$2,747$1,945$1,349$919$618$215
32 years$2,633$1,840$1,259$845$559$187
33 years$2,525$1,743$1,175$777$506$162
34 years$2,424$1,652$1,098$715$458$141
35 years$2,329$1,567$1,026$658$415$122
36 years$2,239$1,487$960$606$376$106
37 years$2,155$1,412$899$558$341$92
38 years$2,075$1,342$842$515$309$80
39 years$1,999$1,276$789$475$280$69
40 years$1,928$1,214$739$438$254$60
41 years$1,860$1,156$693$404$230$52
42 years$1,795$1,101$650$373$209$45
43 years$1,734$1,049$610$344$190$39
44 years$1,675$1,000$573$318$172$34
45 years$1,620$953$538$293$156$30
46 years$1,566$910$505$271$142$26
47 years$1,516$868$474$250$129$22
48 years$1,467$829$446$231$117$19
49 years$1,421$791$419$214$106$17
50 years$1,377$756$394$198$97$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,410,000, adding $2,030 every year, while hoping to spend $54,530 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: 64/18/18 Blend
61$1,410,000$1,410,000$1,410,000$1,410,000
62$1,555,914$1,481,184$1,459,329$1,648,343
63$1,656,598$1,495,742$1,450,197$1,725,221
64$1,765,724$1,509,187$1,438,931$1,802,774
65$1,884,095$1,521,405$1,425,403$1,886,201
66$2,012,596$1,532,277$1,409,478$1,976,076
67$2,152,198$1,541,675$1,391,012$2,073,034
68$2,303,970$1,549,466$1,369,860$2,177,778
69$2,469,090$1,555,504$1,345,864$2,291,081
70$2,648,849$1,559,636$1,318,863$2,413,795
71$2,844,674$1,561,700$1,288,687$2,546,865
72$3,058,131$1,561,523$1,255,158$2,691,328
73$3,290,943$1,558,922$1,218,089$2,848,333
74$3,545,011$1,553,700$1,177,287$3,019,145
75$3,822,423$1,545,652$1,132,547$3,205,162
76$4,125,479$1,534,559$1,083,656$3,407,924
77$4,456,712$1,520,186$1,030,393$3,629,132
78$4,818,910$1,502,288$972,523$3,870,664
79$5,215,141$1,480,602$909,805$4,134,589
80$5,648,786$1,454,852$841,984$4,423,192
81$6,123,566$1,424,744$768,795$4,738,993
82$6,643,580$1,389,967$689,960$5,084,772
83$7,213,341$1,350,191$605,189$5,463,596
84$7,837,819$1,305,068$514,180$5,878,850
85$8,522,488$1,254,228$416,617$6,334,265
86$9,273,378$1,197,281$312,170$6,833,959
87$10,097,129$1,133,814$200,494$7,382,474
88$11,001,055$1,063,390$81,229$7,984,819
89$11,993,214$985,547$0$8,646,520
90$13,082,479$899,796$0$9,382,515
91$14,278,626$805,621$0$10,207,905
92$15,592,426$702,476$0$11,114,564
93$17,035,740$589,784$0$12,110,751
94$18,621,639$466,936$0$13,205,566
95$20,364,519$333,289$0$14,409,043
96$22,280,242$188,163$0$15,732,240
97$24,386,283$30,839$0$17,187,344
98$26,701,895$0$0$18,787,791
99$29,248,287$0$0$20,576,007
100$32,048,829$0$0$22,549,528