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%14%
1 years$116,436$115,399$114,387$113,400$112,435$110,573
2 years$57,642$56,568$55,528$54,519$53,541$51,669
3 years$38,046$36,968$35,930$34,931$33,968$32,147
4 years$28,250$27,175$26,148$25,166$24,227$22,469
5 years$22,374$21,306$20,292$19,330$18,417$16,728
6 years$18,458$17,398$16,399$15,458$14,572$12,954
7 years$15,662$14,611$13,628$12,709$11,851$10,305
8 years$13,566$12,524$11,557$10,661$9,832$8,356
9 years$11,937$10,904$9,954$9,081$8,280$6,874
10 years$10,634$9,612$8,678$7,828$7,055$5,718
11 years$9,569$8,557$7,640$6,813$6,067$4,798
12 years$8,681$7,680$6,781$5,976$5,258$4,055
13 years$7,931$6,941$6,058$5,276$4,585$3,446
14 years$7,289$6,309$5,443$4,683$4,019$2,942
15 years$6,733$5,763$4,914$4,176$3,539$2,522
16 years$6,247$5,288$4,456$3,740$3,128$2,169
17 years$5,818$4,870$4,054$3,360$2,773$1,870
18 years$5,438$4,500$3,701$3,028$2,466$1,617
19 years$5,098$4,170$3,388$2,736$2,198$1,400
20 years$4,792$3,875$3,110$2,478$1,963$1,215
21 years$4,516$3,610$2,860$2,249$1,757$1,055
22 years$4,265$3,370$2,636$2,045$1,575$918
23 years$4,037$3,151$2,434$1,862$1,414$800
24 years$3,827$2,953$2,251$1,698$1,270$697
25 years$3,635$2,771$2,085$1,551$1,143$608
26 years$3,458$2,604$1,934$1,418$1,030$531
27 years$3,294$2,451$1,796$1,298$928$464
28 years$3,143$2,309$1,669$1,189$838$405
29 years$3,002$2,179$1,553$1,091$756$354
30 years$2,870$2,058$1,447$1,001$684$310
31 years$2,747$1,945$1,349$919$618$271
32 years$2,633$1,840$1,259$845$559$237
33 years$2,525$1,743$1,175$777$506$208
34 years$2,424$1,652$1,098$715$458$182
35 years$2,329$1,567$1,026$658$415$159
36 years$2,239$1,487$960$606$376$140
37 years$2,155$1,412$899$558$341$122
38 years$2,075$1,342$842$515$309$107
39 years$1,999$1,276$789$475$280$94
40 years$1,928$1,214$739$438$254$82
41 years$1,860$1,156$693$404$230$72
42 years$1,795$1,101$650$373$209$63
43 years$1,734$1,049$610$344$190$56
44 years$1,675$1,000$573$318$172$49
45 years$1,620$953$538$293$156$43
46 years$1,566$910$505$271$142$37
47 years$1,516$868$474$250$129$33
48 years$1,467$829$446$231$117$29
49 years$1,421$791$419$214$106$25
50 years$1,377$756$394$198$97$22

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 $5,413 every year, while hoping to spend $45,626 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: 70/19/11 Blend
61$1,410,000$1,410,000$1,410,000$1,410,000
62$1,559,404$1,484,674$1,462,819$1,664,663
63$1,669,917$1,508,877$1,463,277$1,759,358
64$1,790,174$1,532,737$1,462,222$1,856,888
65$1,921,119$1,556,189$1,459,554$1,962,404
66$2,063,794$1,579,163$1,455,170$2,076,681
67$2,219,343$1,601,584$1,448,961$2,200,576
68$2,389,027$1,623,373$1,440,812$2,335,033
69$2,574,234$1,644,444$1,430,605$2,481,091
70$2,776,489$1,664,705$1,418,214$2,639,896
71$2,997,475$1,684,059$1,403,507$2,812,710
72$3,239,041$1,702,402$1,386,349$3,000,925
73$3,503,225$1,719,622$1,366,594$3,206,074
74$3,792,271$1,735,600$1,344,092$3,429,847
75$4,108,649$1,750,211$1,318,685$3,674,106
76$4,455,079$1,763,319$1,290,208$3,940,904
77$4,834,556$1,774,780$1,258,489$4,232,504
78$5,250,379$1,784,443$1,223,347$4,551,400
79$5,706,181$1,792,144$1,184,592$4,900,340
80$6,205,963$1,797,710$1,142,027$5,282,354
81$6,754,132$1,800,959$1,095,446$5,700,782
82$7,355,541$1,801,694$1,044,632$6,159,305
83$8,015,538$1,799,708$989,359$6,661,979
84$8,740,011$1,794,782$929,390$7,213,279
85$9,535,448$1,786,682$864,480$7,818,132
86$10,408,993$1,775,159$794,370$8,481,973
87$11,368,519$1,759,951$718,790$9,210,792
88$12,422,698$1,740,779$637,460$10,011,190
89$13,581,083$1,717,346$550,084$10,890,445
90$14,854,198$1,689,341$456,357$11,856,577
91$16,253,638$1,656,430$355,956$12,918,430
92$17,792,177$1,618,263$248,548$14,085,749
93$19,483,888$1,574,466$133,783$15,369,275
94$21,344,275$1,524,646$11,296$16,780,851
95$23,390,423$1,468,386$0$18,333,527
96$25,641,152$1,405,243$0$20,055,707
97$28,117,201$1,334,751$0$21,951,556
98$30,841,416$1,256,414$0$24,037,274
99$33,838,974$1,169,712$0$26,332,177
100$37,137,612$1,074,091$0$28,857,552