Can I retire at age 62 with 1,430,000?

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 $1,430,000?

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$118,088$117,036$116,010$115,008$114,030$112,141
2 years$58,459$57,371$56,316$55,292$54,300$52,402
3 years$38,586$37,492$36,440$35,426$34,450$32,603
4 years$28,651$27,561$26,519$25,523$24,570$22,788
5 years$22,692$21,608$20,580$19,604$18,678$16,965
6 years$18,720$17,645$16,631$15,677$14,779$13,138
7 years$15,884$14,818$13,821$12,889$12,019$10,451
8 years$13,758$12,702$11,721$10,812$9,971$8,475
9 years$12,106$11,059$10,095$9,210$8,397$6,972
10 years$10,785$9,748$8,801$7,939$7,155$5,799
11 years$9,704$8,678$7,749$6,909$6,153$4,866
12 years$8,805$7,789$6,877$6,060$5,332$4,112
13 years$8,044$7,039$6,144$5,350$4,650$3,495
14 years$7,393$6,398$5,520$4,749$4,076$2,984
15 years$6,828$5,845$4,984$4,236$3,589$2,558
16 years$6,335$5,363$4,519$3,793$3,172$2,200
17 years$5,901$4,939$4,112$3,408$2,812$1,897
18 years$5,515$4,564$3,754$3,071$2,501$1,640
19 years$5,170$4,230$3,436$2,775$2,229$1,420
20 years$4,860$3,930$3,154$2,513$1,991$1,232
21 years$4,580$3,661$2,901$2,281$1,782$1,070
22 years$4,326$3,417$2,674$2,074$1,597$931
23 years$4,094$3,196$2,469$1,889$1,434$811
24 years$3,882$2,995$2,283$1,723$1,289$707
25 years$3,687$2,810$2,114$1,573$1,159$617
26 years$3,507$2,641$1,961$1,438$1,044$538
27 years$3,341$2,486$1,821$1,317$942$470
28 years$3,187$2,342$1,693$1,206$850$411
29 years$3,044$2,210$1,575$1,106$767$359
30 years$2,911$2,087$1,467$1,015$693$314
31 years$2,786$1,973$1,368$932$627$275
32 years$2,670$1,867$1,276$857$567$241
33 years$2,561$1,768$1,192$788$513$211
34 years$2,458$1,675$1,114$725$465$185
35 years$2,362$1,589$1,041$667$421$162
36 years$2,271$1,508$974$615$381$142
37 years$2,185$1,432$912$566$346$124
38 years$2,104$1,361$854$522$313$109
39 years$2,028$1,295$800$481$284$95
40 years$1,955$1,232$750$444$258$84
41 years$1,886$1,172$703$410$234$73
42 years$1,821$1,117$659$378$212$64
43 years$1,758$1,064$619$349$192$56
44 years$1,699$1,014$581$322$175$49
45 years$1,643$967$545$298$159$43
46 years$1,589$922$512$275$144$38
47 years$1,537$880$481$254$131$33
48 years$1,488$840$452$235$119$29
49 years$1,441$803$425$217$108$26
50 years$1,396$767$400$200$98$22

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,430,000, adding $4,601 every year, while hoping to spend $53,335 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: 53/24/23 Blend
61$1,430,000$1,430,000$1,430,000$1,430,000
62$1,580,606$1,504,816$1,482,651$1,654,106
63$1,685,080$1,521,804$1,475,572$1,722,240
64$1,798,422$1,537,837$1,466,468$1,790,443
65$1,921,482$1,552,811$1,455,215$1,863,548
66$2,055,192$1,566,618$1,441,683$1,942,041
67$2,200,578$1,579,139$1,425,736$2,026,462
68$2,358,770$1,590,249$1,407,232$2,117,403
69$2,531,010$1,599,817$1,386,020$2,215,521
70$2,718,666$1,607,701$1,361,944$2,321,543
71$2,923,241$1,613,750$1,334,840$2,436,271
72$3,146,392$1,617,804$1,304,538$2,560,591
73$3,389,941$1,619,694$1,270,857$2,695,482
74$3,655,895$1,619,239$1,233,611$2,842,026
75$3,946,462$1,616,247$1,192,603$3,001,418
76$4,264,073$1,610,515$1,147,627$3,174,979
77$4,611,406$1,601,827$1,098,469$3,364,166
78$4,991,406$1,589,954$1,044,905$3,570,591
79$5,407,321$1,574,652$986,700$3,796,031
80$5,862,722$1,555,665$923,610$4,042,452
81$6,361,546$1,532,719$855,377$4,312,021
82$6,908,126$1,505,524$781,734$4,607,134
83$7,507,235$1,473,775$702,402$4,930,436
84$8,164,129$1,437,146$617,088$5,284,845
85$8,884,597$1,395,293$525,488$5,673,583
86$9,675,017$1,347,854$427,283$6,100,208
87$10,542,411$1,294,441$322,140$6,568,647
88$11,494,517$1,234,649$209,711$7,083,232
89$12,539,857$1,168,045$89,635$7,648,747
90$13,687,817$1,094,174$0$8,270,471
91$14,948,739$1,012,553$0$8,963,678
92$16,334,015$922,674$0$9,749,435
93$17,856,196$823,996$0$10,612,915
94$19,529,106$715,950$0$11,562,049
95$21,367,978$597,935$0$12,605,582
96$23,389,593$469,314$0$13,753,153
97$25,612,437$329,416$0$15,015,390
98$28,056,881$177,533$0$16,404,011
99$30,745,365$12,914$0$17,931,934
100$33,702,615$0$0$19,613,399