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

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 $1,410,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$116,436$115,399$114,387$113,400$112,435$109,011
2 years$57,642$56,568$55,528$54,519$53,541$50,120
3 years$38,046$36,968$35,930$34,931$33,968$30,659
4 years$28,250$27,175$26,148$25,166$24,227$21,053
5 years$22,374$21,306$20,292$19,330$18,417$15,388
6 years$18,458$17,398$16,399$15,458$14,572$11,692
7 years$15,662$14,611$13,628$12,709$11,851$9,118
8 years$13,566$12,524$11,557$10,661$9,832$7,244
9 years$11,937$10,904$9,954$9,081$8,280$5,835
10 years$10,634$9,612$8,678$7,828$7,055$4,750
11 years$9,569$8,557$7,640$6,813$6,067$3,898
12 years$8,681$7,680$6,781$5,976$5,258$3,219
13 years$7,931$6,941$6,058$5,276$4,585$2,673
14 years$7,289$6,309$5,443$4,683$4,019$2,228
15 years$6,733$5,763$4,914$4,176$3,539$1,864
16 years$6,247$5,288$4,456$3,740$3,128$1,564
17 years$5,818$4,870$4,054$3,360$2,773$1,315
18 years$5,438$4,500$3,701$3,028$2,466$1,107
19 years$5,098$4,170$3,388$2,736$2,198$934
20 years$4,792$3,875$3,110$2,478$1,963$790
21 years$4,516$3,610$2,860$2,249$1,757$668
22 years$4,265$3,370$2,636$2,045$1,575$565
23 years$4,037$3,151$2,434$1,862$1,414$479
24 years$3,827$2,953$2,251$1,698$1,270$406
25 years$3,635$2,771$2,085$1,551$1,143$345
26 years$3,458$2,604$1,934$1,418$1,030$293
27 years$3,294$2,451$1,796$1,298$928$248
28 years$3,143$2,309$1,669$1,189$838$211
29 years$3,002$2,179$1,553$1,091$756$179
30 years$2,870$2,058$1,447$1,001$684$152
31 years$2,747$1,945$1,349$919$618$130
32 years$2,633$1,840$1,259$845$559$110
33 years$2,525$1,743$1,175$777$506$94
34 years$2,424$1,652$1,098$715$458$80
35 years$2,329$1,567$1,026$658$415$68
36 years$2,239$1,487$960$606$376$58
37 years$2,155$1,412$899$558$341$49
38 years$2,075$1,342$842$515$309$42
39 years$1,999$1,276$789$475$280$35
40 years$1,928$1,214$739$438$254$30
41 years$1,860$1,156$693$404$230$26
42 years$1,795$1,101$650$373$209$22
43 years$1,734$1,049$610$344$190$19
44 years$1,675$1,000$573$318$172$16
45 years$1,620$953$538$293$156$13
46 years$1,566$910$505$271$142$11
47 years$1,516$868$474$250$129$10
48 years$1,467$829$446$231$117$8
49 years$1,421$791$419$214$106$7
50 years$1,377$756$394$198$97$6

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 $2,381 every year, while hoping to spend $30,882 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: 63/31/6 Blend
61$1,410,000$1,410,000$1,410,000$1,410,000
62$1,556,276$1,481,546$1,459,691$1,652,559
63$1,682,158$1,521,284$1,475,732$1,756,748
64$1,819,845$1,561,933$1,491,276$1,866,605
65$1,970,508$1,603,507$1,506,273$1,985,741
66$2,135,438$1,646,017$1,520,671$2,115,052
67$2,316,054$1,689,473$1,534,415$2,255,523
68$2,513,922$1,733,888$1,547,449$2,408,241
69$2,730,764$1,779,270$1,559,710$2,574,402
70$2,968,476$1,825,629$1,571,135$2,755,322
71$3,229,150$1,872,973$1,581,656$2,952,451
72$3,515,085$1,921,311$1,591,204$3,167,383
73$3,828,818$1,970,650$1,599,704$3,401,878
74$4,173,140$2,020,994$1,607,076$3,657,871
75$4,551,127$2,072,350$1,613,240$3,937,493
76$4,966,167$2,124,720$1,618,109$4,243,093
77$5,421,992$2,178,107$1,621,591$4,577,258
78$5,922,713$2,232,513$1,623,593$4,942,835
79$6,472,860$2,287,936$1,624,013$5,342,963
80$7,077,422$2,344,375$1,622,748$5,781,100
81$7,741,896$2,401,825$1,619,686$6,261,052
82$8,472,336$2,460,283$1,614,713$6,787,017
83$9,275,417$2,519,738$1,607,708$7,363,615
84$10,158,486$2,580,183$1,598,544$7,995,940
85$11,129,644$2,641,603$1,587,087$8,689,600
86$12,197,812$2,703,986$1,573,198$9,450,778
87$13,372,820$2,767,314$1,556,732$10,286,284
88$14,665,501$2,831,565$1,537,536$11,203,622
89$16,087,788$2,896,717$1,515,449$12,211,059
90$17,652,830$2,962,744$1,490,304$13,317,706
91$19,375,115$3,029,615$1,461,926$14,533,601
92$21,270,607$3,097,296$1,430,130$15,869,803
93$23,356,894$3,165,749$1,394,725$17,338,501
94$25,653,358$3,234,931$1,355,509$18,953,123
95$28,181,355$3,304,797$1,312,273$20,728,469
96$30,964,414$3,375,294$1,264,796$22,680,845
97$34,028,466$3,446,364$1,212,848$24,828,218
98$37,402,080$3,517,946$1,156,188$27,190,389
99$41,116,738$3,589,972$1,094,566$29,789,178
100$45,207,129$3,662,365$1,027,719$32,648,627