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%16.5%
1 years$118,088$117,036$116,010$115,008$114,030$111,003
2 years$58,459$57,371$56,316$55,292$54,300$51,272
3 years$38,586$37,492$36,440$35,426$34,450$31,515
4 years$28,651$27,561$26,519$25,523$24,570$21,751
5 years$22,692$21,608$20,580$19,604$18,678$15,982
6 years$18,720$17,645$16,631$15,677$14,779$12,210
7 years$15,884$14,818$13,821$12,889$12,019$9,576
8 years$13,758$12,702$11,721$10,812$9,971$7,653
9 years$12,106$11,059$10,095$9,210$8,397$6,202
10 years$10,785$9,748$8,801$7,939$7,155$5,080
11 years$9,704$8,678$7,749$6,909$6,153$4,196
12 years$8,805$7,789$6,877$6,060$5,332$3,488
13 years$8,044$7,039$6,144$5,350$4,650$2,916
14 years$7,393$6,398$5,520$4,749$4,076$2,448
15 years$6,828$5,845$4,984$4,236$3,589$2,062
16 years$6,335$5,363$4,519$3,793$3,172$1,742
17 years$5,901$4,939$4,112$3,408$2,812$1,475
18 years$5,515$4,564$3,754$3,071$2,501$1,252
19 years$5,170$4,230$3,436$2,775$2,229$1,065
20 years$4,860$3,930$3,154$2,513$1,991$906
21 years$4,580$3,661$2,901$2,281$1,782$773
22 years$4,326$3,417$2,674$2,074$1,597$659
23 years$4,094$3,196$2,469$1,889$1,434$563
24 years$3,882$2,995$2,283$1,723$1,289$481
25 years$3,687$2,810$2,114$1,573$1,159$411
26 years$3,507$2,641$1,961$1,438$1,044$352
27 years$3,341$2,486$1,821$1,317$942$301
28 years$3,187$2,342$1,693$1,206$850$258
29 years$3,044$2,210$1,575$1,106$767$221
30 years$2,911$2,087$1,467$1,015$693$189
31 years$2,786$1,973$1,368$932$627$162
32 years$2,670$1,867$1,276$857$567$139
33 years$2,561$1,768$1,192$788$513$119
34 years$2,458$1,675$1,114$725$465$102
35 years$2,362$1,589$1,041$667$421$88
36 years$2,271$1,508$974$615$381$75
37 years$2,185$1,432$912$566$346$65
38 years$2,104$1,361$854$522$313$55
39 years$2,028$1,295$800$481$284$48
40 years$1,955$1,232$750$444$258$41
41 years$1,886$1,172$703$410$234$35
42 years$1,821$1,117$659$378$212$30
43 years$1,758$1,064$619$349$192$26
44 years$1,699$1,014$581$322$175$22
45 years$1,643$967$545$298$159$19
46 years$1,589$922$512$275$144$16
47 years$1,537$880$481$254$131$14
48 years$1,488$840$452$235$119$12
49 years$1,441$803$425$217$108$10
50 years$1,396$767$400$200$98$9

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 $3,289 every year, while hoping to spend $37,760 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: 64/8/28 Blend
61$1,430,000$1,430,000$1,430,000$1,430,000
62$1,579,253$1,503,463$1,481,298$1,668,377
63$1,700,160$1,536,956$1,490,745$1,762,619
64$1,832,134$1,570,825$1,499,243$1,861,099
65$1,976,265$1,605,048$1,506,720$1,967,889
66$2,133,750$1,639,601$1,513,101$2,083,813
67$2,305,910$1,674,459$1,518,307$2,209,774
68$2,494,197$1,709,592$1,522,255$2,346,773
69$2,700,212$1,744,969$1,524,857$2,495,909
70$2,925,715$1,780,554$1,526,022$2,658,396
71$3,172,648$1,816,311$1,525,654$2,835,570
72$3,443,146$1,852,199$1,523,651$3,028,906
73$3,739,562$1,888,171$1,519,908$3,240,030
74$4,064,487$1,924,181$1,514,314$3,470,731
75$4,420,773$1,960,175$1,506,753$3,722,985
76$4,811,565$1,996,096$1,497,102$3,998,969
77$5,240,323$2,031,884$1,485,234$4,301,082
78$5,710,862$2,067,471$1,471,014$4,631,968
79$6,227,379$2,102,787$1,454,303$4,994,544
80$6,794,504$2,137,755$1,434,954$5,392,024
81$7,417,330$2,172,292$1,412,812$5,827,950
82$8,101,473$2,206,310$1,387,717$6,306,229
83$8,853,117$2,239,713$1,359,499$6,831,166
84$9,679,076$2,272,400$1,327,983$7,407,506
85$10,586,855$2,304,261$1,292,984$8,040,481
86$11,584,724$2,335,179$1,254,309$8,735,857
87$12,681,793$2,365,030$1,211,755$9,499,992
88$13,888,099$2,393,680$1,165,112$10,339,891
89$15,214,700$2,420,985$1,114,158$11,263,279
90$16,673,780$2,446,793$1,058,663$12,278,668
91$18,278,762$2,470,943$998,384$13,395,443
92$20,044,436$2,493,260$933,071$14,623,947
93$21,987,099$2,513,559$862,459$15,975,582
94$24,124,703$2,531,644$786,272$17,462,915
95$26,477,034$2,547,306$704,223$19,099,798
96$29,065,888$2,560,320$616,011$20,901,498
97$31,915,283$2,570,451$521,322$22,884,846
98$35,051,684$2,577,445$419,828$25,068,389
99$38,504,251$2,581,035$311,187$27,472,572
100$42,305,114$2,580,935$195,042$30,119,930