Can I retire at age 62 with 1,450,000?

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 $1,450,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$119,740$118,673$117,632$116,617$115,625$111,700
2 years$59,277$58,173$57,103$56,066$55,060$51,145
3 years$39,125$38,017$36,950$35,922$34,932$31,150
4 years$29,052$27,946$26,890$25,880$24,914$21,294
5 years$23,009$21,910$20,868$19,878$18,939$15,491
6 years$18,982$17,891$16,864$15,897$14,986$11,712
7 years$16,106$15,025$14,014$13,070$12,188$9,087
8 years$13,951$12,879$11,885$10,964$10,111$7,181
9 years$12,275$11,214$10,237$9,339$8,515$5,753
10 years$10,935$9,884$8,925$8,050$7,255$4,656
11 years$9,840$8,799$7,857$7,006$6,239$3,799
12 years$8,928$7,898$6,973$6,145$5,407$3,119
13 years$8,156$7,137$6,230$5,425$4,715$2,574
14 years$7,496$6,488$5,598$4,816$4,133$2,132
15 years$6,924$5,927$5,054$4,295$3,639$1,772
16 years$6,424$5,438$4,582$3,846$3,216$1,477
17 years$5,983$5,008$4,169$3,455$2,852$1,234
18 years$5,592$4,627$3,806$3,114$2,536$1,032
19 years$5,242$4,289$3,484$2,814$2,260$865
20 years$4,928$3,985$3,198$2,548$2,019$726
21 years$4,644$3,712$2,941$2,313$1,807$610
22 years$4,386$3,465$2,711$2,103$1,619$513
23 years$4,151$3,241$2,503$1,915$1,454$431
24 years$3,936$3,036$2,315$1,747$1,307$363
25 years$3,738$2,850$2,144$1,595$1,176$306
26 years$3,556$2,678$1,989$1,459$1,059$258
27 years$3,388$2,520$1,846$1,335$955$217
28 years$3,232$2,375$1,717$1,223$862$183
29 years$3,087$2,241$1,597$1,122$778$154
30 years$2,952$2,116$1,488$1,029$703$130
31 years$2,825$2,000$1,387$945$635$110
32 years$2,707$1,893$1,294$869$575$93
33 years$2,597$1,792$1,208$799$520$78
34 years$2,493$1,699$1,129$735$471$66
35 years$2,395$1,611$1,056$677$427$56
36 years$2,303$1,529$988$623$387$47
37 years$2,216$1,453$924$574$350$40
38 years$2,134$1,380$866$529$318$34
39 years$2,056$1,313$811$488$288$28
40 years$1,982$1,249$760$450$261$24
41 years$1,912$1,189$713$415$237$20
42 years$1,846$1,132$669$383$215$17
43 years$1,783$1,079$627$354$195$14
44 years$1,723$1,028$589$327$177$12
45 years$1,666$981$553$302$161$10
46 years$1,611$935$519$279$146$9
47 years$1,559$893$488$257$133$7
48 years$1,509$852$458$238$120$6
49 years$1,461$814$431$220$109$5
50 years$1,416$777$405$203$99$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,450,000, adding $4,313 every year, while hoping to spend $35,218 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: 49/37/14 Blend
61$1,450,000$1,450,000$1,450,000$1,450,000
62$1,602,349$1,525,499$1,503,024$1,674,477
63$1,728,317$1,562,777$1,515,903$1,761,881
64$1,865,953$1,600,701$1,528,034$1,852,762
65$2,016,411$1,639,265$1,539,354$1,950,701
66$2,180,959$1,678,464$1,549,797$2,056,371
67$2,360,996$1,718,288$1,559,294$2,170,512
68$2,558,060$1,758,727$1,567,773$2,293,943
69$2,773,847$1,799,769$1,575,158$2,427,562
70$3,010,222$1,841,400$1,581,368$2,572,360
71$3,269,241$1,883,605$1,586,320$2,729,429
72$3,553,167$1,926,365$1,589,926$2,899,972
73$3,864,493$1,969,660$1,592,091$3,085,312
74$4,205,965$2,013,467$1,592,720$3,286,911
75$4,580,606$2,057,760$1,591,709$3,506,376
76$4,991,749$2,102,510$1,588,952$3,745,480
77$5,443,061$2,147,688$1,584,336$4,006,175
78$5,938,585$2,193,256$1,577,743$4,290,613
79$6,482,774$2,239,178$1,569,050$4,601,167
80$7,080,530$2,285,412$1,558,127$4,940,449
81$7,737,258$2,331,911$1,544,838$5,311,339
82$8,458,909$2,378,625$1,529,041$5,717,012
83$9,252,041$2,425,501$1,510,587$6,160,966
84$10,123,878$2,472,479$1,489,320$6,647,057
85$11,082,378$2,519,495$1,465,077$7,179,533
86$12,136,310$2,566,480$1,437,686$7,763,078
87$13,295,334$2,613,358$1,406,969$8,402,854
88$14,570,094$2,660,048$1,372,738$9,104,548
89$15,972,316$2,706,463$1,334,798$9,874,432
90$17,514,921$2,752,509$1,292,942$10,719,417
91$19,212,145$2,798,084$1,246,958$11,647,118
92$21,079,673$2,843,079$1,196,620$12,665,931
93$23,134,788$2,887,377$1,141,695$13,785,109
94$25,396,531$2,930,853$1,081,936$15,014,851
95$27,885,884$2,973,373$1,017,088$16,366,397
96$30,625,968$3,014,791$946,884$17,852,137
97$33,642,255$3,054,955$871,043$19,485,726
98$36,962,815$3,093,698$789,273$21,282,215
99$40,618,578$3,130,844$701,269$23,258,192
100$44,643,623$3,166,206$606,712$25,431,942