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

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 $1,440,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$118,914$117,855$116,821$115,813$114,828$113,628
2 years$58,868$57,772$56,709$55,679$54,680$53,472
3 years$38,856$37,755$36,695$35,674$34,691$33,513
4 years$28,851$27,754$26,704$25,701$24,742$23,602
5 years$22,850$21,759$20,724$19,741$18,808$17,709
6 years$18,851$17,768$16,748$15,787$14,883$13,826
7 years$15,995$14,922$13,917$12,979$12,103$11,090
8 years$13,855$12,791$11,803$10,888$10,041$9,071
9 years$12,191$11,136$10,166$9,274$8,456$7,529
10 years$10,860$9,816$8,863$7,994$7,205$6,320
11 years$9,772$8,739$7,803$6,958$6,196$5,353
12 years$8,866$7,843$6,925$6,103$5,370$4,567
13 years$8,100$7,088$6,187$5,388$4,683$3,920
14 years$7,444$6,443$5,559$4,783$4,105$3,381
15 years$6,876$5,886$5,019$4,265$3,614$2,927
16 years$6,380$5,400$4,550$3,819$3,194$2,544
17 years$5,942$4,973$4,141$3,431$2,832$2,217
18 years$5,554$4,596$3,780$3,092$2,518$1,937
19 years$5,206$4,259$3,460$2,794$2,245$1,696
20 years$4,894$3,958$3,176$2,531$2,005$1,488
21 years$4,612$3,687$2,921$2,297$1,794$1,307
22 years$4,356$3,441$2,692$2,088$1,608$1,150
23 years$4,123$3,218$2,486$1,902$1,444$1,013
24 years$3,909$3,016$2,299$1,735$1,298$894
25 years$3,713$2,830$2,129$1,584$1,168$789
26 years$3,532$2,660$1,975$1,448$1,052$697
27 years$3,364$2,503$1,834$1,326$948$616
28 years$3,209$2,359$1,705$1,215$856$545
29 years$3,065$2,225$1,586$1,114$773$482
30 years$2,931$2,101$1,478$1,022$698$427
31 years$2,806$1,986$1,378$939$631$379
32 years$2,689$1,880$1,285$863$571$335
33 years$2,579$1,780$1,200$794$517$297
34 years$2,476$1,687$1,121$730$468$264
35 years$2,379$1,600$1,048$672$424$234
36 years$2,287$1,519$981$619$384$208
37 years$2,201$1,442$918$570$348$184
38 years$2,119$1,371$860$526$315$164
39 years$2,042$1,304$805$485$286$145
40 years$1,969$1,240$755$447$259$129
41 years$1,899$1,181$708$412$235$114
42 years$1,833$1,124$664$381$214$102
43 years$1,771$1,071$623$351$194$90
44 years$1,711$1,021$585$324$176$80
45 years$1,654$974$549$300$160$71
46 years$1,600$929$516$277$145$63
47 years$1,548$886$485$256$132$56
48 years$1,499$846$455$236$120$50
49 years$1,451$808$428$218$109$44
50 years$1,406$772$402$202$99$39

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 $3,685 every year, while hoping to spend $48,016 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: 51/30/19 Blend
61$1,440,000$1,440,000$1,440,000$1,440,000
62$1,590,681$1,514,361$1,492,041$1,663,271
63$1,701,842$1,537,476$1,490,936$1,736,814
64$1,822,732$1,560,115$1,488,184$1,811,458
65$1,954,293$1,582,202$1,483,680$1,891,586
66$2,097,560$1,603,660$1,477,314$1,977,733
67$2,253,675$1,624,403$1,468,967$2,070,491
68$2,423,891$1,644,340$1,458,519$2,170,512
69$2,609,591$1,663,375$1,445,842$2,278,517
70$2,812,293$1,681,405$1,430,802$2,395,302
71$3,033,672$1,698,318$1,413,258$2,521,745
72$3,275,568$1,713,998$1,393,065$2,658,815
73$3,540,011$1,728,319$1,370,067$2,807,584
74$3,829,232$1,741,146$1,344,104$2,969,231
75$4,145,691$1,752,339$1,315,009$3,145,061
76$4,492,093$1,761,746$1,282,603$3,336,514
77$4,871,420$1,769,204$1,246,704$3,545,177
78$5,286,953$1,774,544$1,207,117$3,772,804
79$5,742,309$1,777,584$1,163,642$4,021,329
80$6,241,468$1,778,128$1,116,067$4,292,889
81$6,788,814$1,775,973$1,064,172$4,589,839
82$7,389,177$1,770,900$1,007,726$4,914,781
83$8,047,877$1,762,677$946,488$5,270,582
84$8,770,771$1,751,059$880,206$5,660,410
85$9,564,313$1,735,785$808,617$6,087,758
86$10,435,614$1,716,579$731,446$6,556,481
87$11,392,502$1,693,147$648,405$7,070,832
88$12,443,606$1,665,180$559,195$7,635,501
89$13,598,428$1,632,348$463,503$8,255,667
90$14,867,437$1,594,303$361,000$8,937,038
91$16,262,167$1,550,675$251,345$9,685,914
92$17,795,325$1,501,075$134,181$10,509,244
93$19,480,909$1,445,088$9,137$11,414,691
94$21,334,342$1,382,278$0$12,410,711
95$23,372,616$1,312,181$0$13,531,829
96$25,614,452$1,234,307$0$14,766,744
97$28,080,478$1,148,139$0$16,125,031
98$30,793,418$1,053,130$0$17,619,289
99$33,778,314$948,700$0$19,263,408
100$37,062,754$834,239$0$21,072,702