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%12.1%
1 years$116,436$115,399$114,387$113,400$112,435$111,447
2 years$57,642$56,568$55,528$54,519$53,541$52,544
3 years$38,046$36,968$35,930$34,931$33,968$32,995
4 years$28,250$27,175$26,148$25,166$24,227$23,284
5 years$22,374$21,306$20,292$19,330$18,417$17,508
6 years$18,458$17,398$16,399$15,458$14,572$13,698
7 years$15,662$14,611$13,628$12,709$11,851$11,012
8 years$13,566$12,524$11,557$10,661$9,832$9,028
9 years$11,937$10,904$9,954$9,081$8,280$7,511
10 years$10,634$9,612$8,678$7,828$7,055$6,320
11 years$9,569$8,557$7,640$6,813$6,067$5,366
12 years$8,681$7,680$6,781$5,976$5,258$4,590
13 years$7,931$6,941$6,058$5,276$4,585$3,949
14 years$7,289$6,309$5,443$4,683$4,019$3,415
15 years$6,733$5,763$4,914$4,176$3,539$2,965
16 years$6,247$5,288$4,456$3,740$3,128$2,584
17 years$5,818$4,870$4,054$3,360$2,773$2,258
18 years$5,438$4,500$3,701$3,028$2,466$1,979
19 years$5,098$4,170$3,388$2,736$2,198$1,738
20 years$4,792$3,875$3,110$2,478$1,963$1,529
21 years$4,516$3,610$2,860$2,249$1,757$1,347
22 years$4,265$3,370$2,636$2,045$1,575$1,189
23 years$4,037$3,151$2,434$1,862$1,414$1,051
24 years$3,827$2,953$2,251$1,698$1,270$930
25 years$3,635$2,771$2,085$1,551$1,143$823
26 years$3,458$2,604$1,934$1,418$1,030$729
27 years$3,294$2,451$1,796$1,298$928$647
28 years$3,143$2,309$1,669$1,189$838$574
29 years$3,002$2,179$1,553$1,091$756$510
30 years$2,870$2,058$1,447$1,001$684$453
31 years$2,747$1,945$1,349$919$618$403
32 years$2,633$1,840$1,259$845$559$358
33 years$2,525$1,743$1,175$777$506$318
34 years$2,424$1,652$1,098$715$458$283
35 years$2,329$1,567$1,026$658$415$252
36 years$2,239$1,487$960$606$376$225
37 years$2,155$1,412$899$558$341$200
38 years$2,075$1,342$842$515$309$178
39 years$1,999$1,276$789$475$280$159
40 years$1,928$1,214$739$438$254$141
41 years$1,860$1,156$693$404$230$126
42 years$1,795$1,101$650$373$209$112
43 years$1,734$1,049$610$344$190$100
44 years$1,675$1,000$573$318$172$89
45 years$1,620$953$538$293$156$79
46 years$1,566$910$505$271$142$71
47 years$1,516$868$474$250$129$63
48 years$1,467$829$446$231$117$56
49 years$1,421$791$419$214$106$50
50 years$1,377$756$394$198$97$45

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 $6,723 every year, while hoping to spend $44,586 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: 57/14/29 Blend
61$1,410,000$1,410,000$1,410,000$1,410,000
62$1,560,755$1,486,025$1,464,170$1,636,926
63$1,672,513$1,511,401$1,465,780$1,715,397
64$1,794,175$1,536,526$1,465,950$1,795,671
65$1,926,706$1,561,341$1,464,585$1,882,269
66$2,071,166$1,585,782$1,461,584$1,975,818
67$2,228,720$1,609,780$1,456,842$2,077,010
68$2,400,652$1,633,263$1,450,249$2,186,607
69$2,588,377$1,656,151$1,441,691$2,305,451
70$2,793,450$1,678,361$1,431,046$2,434,472
71$3,017,584$1,699,802$1,418,188$2,574,693
72$3,262,664$1,720,379$1,402,984$2,727,246
73$3,530,767$1,739,989$1,385,295$2,893,378
74$3,824,179$1,758,522$1,364,976$3,074,465
75$4,145,417$1,775,861$1,341,874$3,272,027
76$4,497,253$1,791,882$1,315,831$3,487,739
77$4,882,739$1,806,451$1,286,678$3,723,448
78$5,305,239$1,819,427$1,254,242$3,981,193
79$5,768,454$1,830,660$1,218,340$4,263,224
80$6,276,463$1,839,989$1,178,781$4,572,022
81$6,833,757$1,847,243$1,135,364$4,910,322
82$7,445,283$1,852,241$1,087,882$5,281,144
83$8,116,491$1,854,790$1,036,115$5,687,817
84$8,853,384$1,854,685$979,836$6,134,013
85$9,662,573$1,851,709$918,805$6,623,783
86$10,551,344$1,845,631$852,772$7,161,592
87$11,527,719$1,836,205$781,479$7,752,369
88$12,600,539$1,823,172$704,651$8,401,544
89$13,779,542$1,806,255$622,005$9,115,111
90$15,075,457$1,785,163$533,243$9,899,676
91$16,500,102$1,759,585$438,055$10,762,525
92$18,066,500$1,729,192$336,118$11,711,693
93$19,788,997$1,693,637$227,092$12,756,038
94$21,683,400$1,652,550$110,625$13,905,331
95$23,767,124$1,605,542$0$15,170,342
96$26,059,356$1,552,199$0$16,567,177
97$28,581,238$1,492,084$0$18,141,507
98$31,356,061$1,424,734$0$19,873,629
99$34,409,493$1,349,659$0$21,779,590
100$37,769,810$1,266,341$0$23,877,077