Can I retire at age 62 with 1,470,000?

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 $1,470,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$121,391$120,310$119,255$118,225$117,220$113,741
2 years$60,095$58,975$57,891$56,839$55,819$52,343
3 years$39,665$38,541$37,459$36,417$35,414$32,049
4 years$29,452$28,332$27,261$26,237$25,257$22,030
5 years$23,326$22,212$21,155$20,152$19,200$16,120
6 years$19,244$18,138$17,097$16,116$15,193$12,261
7 years$16,329$15,232$14,207$13,250$12,356$9,573
8 years$14,143$13,057$12,049$11,115$10,250$7,615
9 years$12,444$11,368$10,378$9,467$8,632$6,141
10 years$11,086$10,021$9,048$8,161$7,355$5,005
11 years$9,976$8,921$7,965$7,103$6,326$4,113
12 years$9,051$8,007$7,069$6,230$5,482$3,401
13 years$8,269$7,236$6,316$5,500$4,780$2,827
14 years$7,599$6,577$5,675$4,882$4,190$2,360
15 years$7,020$6,008$5,124$4,354$3,689$1,977
16 years$6,513$5,513$4,645$3,899$3,261$1,661
17 years$6,066$5,077$4,227$3,503$2,891$1,399
18 years$5,669$4,691$3,859$3,157$2,571$1,180
19 years$5,315$4,348$3,532$2,852$2,291$997
20 years$4,996$4,040$3,242$2,583$2,047$844
21 years$4,708$3,763$2,982$2,345$1,831$715
22 years$4,447$3,513$2,748$2,132$1,642$606
23 years$4,208$3,286$2,538$1,942$1,474$514
24 years$3,990$3,078$2,347$1,771$1,325$437
25 years$3,790$2,889$2,174$1,617$1,192$371
26 years$3,605$2,715$2,016$1,479$1,074$316
27 years$3,435$2,555$1,872$1,353$968$268
28 years$3,276$2,408$1,740$1,240$873$228
29 years$3,129$2,271$1,619$1,137$789$194
30 years$2,992$2,145$1,508$1,044$713$165
31 years$2,864$2,028$1,406$958$644$141
32 years$2,745$1,919$1,312$881$583$120
33 years$2,633$1,817$1,225$810$527$102
34 years$2,527$1,722$1,145$745$478$87
35 years$2,428$1,633$1,070$686$433$74
36 years$2,335$1,550$1,001$632$392$63
37 years$2,247$1,473$937$582$355$54
38 years$2,163$1,399$877$537$322$46
39 years$2,084$1,331$822$495$292$39
40 years$2,010$1,266$771$456$265$33
41 years$1,939$1,205$723$421$240$28
42 years$1,872$1,148$678$389$218$24
43 years$1,808$1,094$636$359$198$21
44 years$1,747$1,042$597$331$180$18
45 years$1,689$994$561$306$163$15
46 years$1,633$948$526$283$148$13
47 years$1,580$905$495$261$134$11
48 years$1,530$864$465$241$122$9
49 years$1,481$825$437$223$111$8
50 years$1,435$788$411$206$101$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,470,000, adding $4,613 every year, while hoping to spend $26,484 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: 56/31/13 Blend
61$1,470,000$1,470,000$1,470,000$1,470,000
62$1,624,698$1,546,788$1,524,003$1,710,027
63$1,762,239$1,594,402$1,546,879$1,815,988
64$1,912,921$1,643,461$1,569,633$1,928,055
65$2,078,057$1,694,009$1,592,233$2,049,508
66$2,259,092$1,746,089$1,614,647$2,181,248
67$2,457,619$1,799,747$1,636,837$2,324,268
68$2,675,390$1,855,029$1,658,765$2,479,660
69$2,914,338$1,911,983$1,680,392$2,648,626
70$3,176,590$1,970,659$1,701,674$2,832,488
71$3,464,488$2,031,108$1,722,566$3,032,705
72$3,780,614$2,093,380$1,743,020$3,250,878
73$4,127,811$2,157,531$1,762,987$3,488,774
74$4,509,213$2,223,615$1,782,411$3,748,337
75$4,928,268$2,291,688$1,801,238$4,031,707
76$5,388,780$2,361,809$1,819,408$4,341,240
77$5,894,935$2,434,037$1,836,858$4,679,533
78$6,451,348$2,508,434$1,853,522$5,049,444
79$7,063,102$2,585,064$1,869,331$5,454,121
80$7,735,797$2,663,990$1,884,212$5,897,031
81$8,475,602$2,745,280$1,898,087$6,381,994
82$9,289,317$2,829,002$1,910,876$6,913,216
83$10,184,430$2,915,226$1,922,493$7,495,331
84$11,169,194$3,004,024$1,932,849$8,133,443
85$12,252,702$3,095,471$1,941,850$8,833,175
86$13,444,971$3,189,643$1,949,396$9,600,721
87$14,757,041$3,286,618$1,955,383$10,442,903
88$16,201,073$3,386,476$1,959,702$11,367,241
89$17,790,469$3,489,300$1,962,239$12,382,015
90$19,539,995$3,595,175$1,962,872$13,496,349
91$21,465,922$3,704,186$1,961,476$14,720,296
92$23,586,179$3,816,423$1,957,918$16,064,932
93$25,920,520$3,931,979$1,952,059$17,542,458
94$28,490,712$4,050,945$1,943,752$19,166,318
95$31,320,743$4,173,420$1,932,847$20,951,327
96$34,437,043$4,299,501$1,919,181$22,913,806
97$37,868,735$4,429,290$1,902,587$25,071,738
98$41,647,911$4,562,891$1,882,889$27,444,938
99$45,809,936$4,700,410$1,859,903$30,055,239
100$50,393,775$4,841,957$1,833,436$32,926,700