Can I retire at age 62 with 1,440,000?

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 $1,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$118,914$117,855$116,821$115,813$114,828$112,052
2 years$58,868$57,772$56,709$55,679$54,680$51,900
3 years$38,856$37,755$36,695$35,674$34,691$31,994
4 years$28,851$27,754$26,704$25,701$24,742$22,148
5 years$22,850$21,759$20,724$19,741$18,808$16,326
6 years$18,851$17,768$16,748$15,787$14,883$12,513
7 years$15,995$14,922$13,917$12,979$12,103$9,848
8 years$13,855$12,791$11,803$10,888$10,041$7,898
9 years$12,191$11,136$10,166$9,274$8,456$6,424
10 years$10,860$9,816$8,863$7,994$7,205$5,281
11 years$9,772$8,739$7,803$6,958$6,196$4,379
12 years$8,866$7,843$6,925$6,103$5,370$3,655
13 years$8,100$7,088$6,187$5,388$4,683$3,067
14 years$7,444$6,443$5,559$4,783$4,105$2,585
15 years$6,876$5,886$5,019$4,265$3,614$2,187
16 years$6,380$5,400$4,550$3,819$3,194$1,856
17 years$5,942$4,973$4,141$3,431$2,832$1,579
18 years$5,554$4,596$3,780$3,092$2,518$1,346
19 years$5,206$4,259$3,460$2,794$2,245$1,149
20 years$4,894$3,958$3,176$2,531$2,005$983
21 years$4,612$3,687$2,921$2,297$1,794$842
22 years$4,356$3,441$2,692$2,088$1,608$721
23 years$4,123$3,218$2,486$1,902$1,444$619
24 years$3,909$3,016$2,299$1,735$1,298$532
25 years$3,713$2,830$2,129$1,584$1,168$457
26 years$3,532$2,660$1,975$1,448$1,052$393
27 years$3,364$2,503$1,834$1,326$948$338
28 years$3,209$2,359$1,705$1,215$856$291
29 years$3,065$2,225$1,586$1,114$773$250
30 years$2,931$2,101$1,478$1,022$698$216
31 years$2,806$1,986$1,378$939$631$186
32 years$2,689$1,880$1,285$863$571$160
33 years$2,579$1,780$1,200$794$517$138
34 years$2,476$1,687$1,121$730$468$119
35 years$2,379$1,600$1,048$672$424$102
36 years$2,287$1,519$981$619$384$88
37 years$2,201$1,442$918$570$348$76
38 years$2,119$1,371$860$526$315$66
39 years$2,042$1,304$805$485$286$57
40 years$1,969$1,240$755$447$259$49
41 years$1,899$1,181$708$412$235$42
42 years$1,833$1,124$664$381$214$36
43 years$1,771$1,071$623$351$194$31
44 years$1,711$1,021$585$324$176$27
45 years$1,654$974$549$300$160$23
46 years$1,600$929$516$277$145$20
47 years$1,548$886$485$256$132$17
48 years$1,499$846$455$236$120$15
49 years$1,451$808$428$218$109$13
50 years$1,406$772$402$202$99$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,440,000, adding $6,404 every year, while hoping to spend $38,271 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: 39/46/15 Blend
61$1,440,000$1,440,000$1,440,000$1,440,000
62$1,593,486$1,517,166$1,494,846$1,648,235
63$1,715,301$1,550,787$1,504,203$1,721,450
64$1,848,259$1,584,773$1,512,591$1,796,379
65$1,993,456$1,619,101$1,519,937$1,876,574
66$2,152,098$1,653,746$1,526,164$1,962,531
67$2,325,513$1,688,681$1,531,193$2,054,793
68$2,515,165$1,723,876$1,534,937$2,153,963
69$2,722,664$1,759,298$1,537,309$2,260,703
70$2,949,782$1,794,910$1,538,216$2,375,743
71$3,198,473$1,830,674$1,537,559$2,499,888
72$3,470,887$1,866,546$1,535,236$2,634,026
73$3,769,390$1,902,480$1,531,140$2,779,136
74$4,096,593$1,938,426$1,525,158$2,936,297
75$4,455,365$1,974,329$1,517,171$3,106,698
76$4,848,872$2,010,130$1,507,055$3,291,652
77$5,280,596$2,045,766$1,494,681$3,492,605
78$5,754,377$2,081,168$1,479,912$3,711,153
79$6,274,440$2,116,263$1,462,606$3,949,055
80$6,845,443$2,150,970$1,442,614$4,208,251
81$7,472,515$2,185,204$1,419,778$4,490,880
82$8,161,307$2,218,874$1,393,936$4,799,301
83$8,918,043$2,251,882$1,364,916$5,136,115
84$9,749,582$2,284,123$1,332,539$5,504,192
85$10,663,477$2,315,482$1,296,617$5,906,695
86$11,668,052$2,345,841$1,256,954$6,347,113
87$12,772,475$2,375,070$1,213,344$6,829,292
88$13,986,850$2,403,030$1,165,573$7,357,474
89$15,322,306$2,429,576$1,113,417$7,936,338
90$16,791,105$2,454,550$1,056,641$8,571,041
91$18,406,759$2,477,783$994,999$9,267,271
92$20,184,153$2,499,099$928,236$10,031,301
93$22,139,687$2,518,306$856,083$10,870,046
94$24,291,434$2,535,202$778,261$11,791,131
95$26,659,305$2,549,571$694,476$12,802,965
96$29,265,237$2,561,183$604,425$13,914,819
97$32,133,405$2,569,795$507,787$15,136,915
98$35,290,445$2,575,147$404,230$16,480,525
99$38,765,705$2,576,964$293,406$17,958,073
100$42,591,523$2,574,952$174,952$19,583,263