Can I retire at age 62 with 1,480,000?

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 $1,480,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$122,217$121,128$120,066$119,030$118,017$113,694
2 years$60,503$59,377$58,285$57,226$56,199$51,892
3 years$39,935$38,803$37,714$36,665$35,655$31,499
4 years$29,653$28,525$27,446$26,415$25,429$21,456
5 years$23,485$22,364$21,299$20,289$19,331$15,551
6 years$19,375$18,262$17,213$16,226$15,296$11,712
7 years$16,440$15,336$14,304$13,340$12,440$9,051
8 years$14,239$13,146$12,131$11,191$10,320$7,123
9 years$12,529$11,446$10,448$9,532$8,691$5,682
10 years$11,162$10,089$9,109$8,217$7,405$4,579
11 years$10,044$8,982$8,020$7,151$6,369$3,719
12 years$9,112$8,061$7,117$6,272$5,519$3,039
13 years$8,325$7,285$6,359$5,537$4,813$2,496
14 years$7,651$6,622$5,713$4,916$4,219$2,057
15 years$7,067$6,049$5,158$4,384$3,714$1,702
16 years$6,557$5,550$4,677$3,925$3,283$1,411
17 years$6,107$5,111$4,256$3,527$2,911$1,172
18 years$5,708$4,723$3,885$3,178$2,588$976
19 years$5,351$4,377$3,556$2,872$2,307$814
20 years$5,030$4,068$3,264$2,601$2,061$679
21 years$4,740$3,789$3,002$2,361$1,844$567
22 years$4,477$3,537$2,767$2,146$1,653$474
23 years$4,237$3,308$2,555$1,955$1,484$397
24 years$4,017$3,099$2,363$1,783$1,334$332
25 years$3,816$2,909$2,188$1,628$1,200$278
26 years$3,630$2,734$2,030$1,489$1,081$233
27 years$3,458$2,573$1,885$1,363$975$195
28 years$3,299$2,424$1,752$1,248$879$164
29 years$3,151$2,287$1,630$1,145$794$137
30 years$3,013$2,160$1,519$1,051$717$115
31 years$2,884$2,042$1,416$965$649$97
32 years$2,763$1,932$1,321$887$587$81
33 years$2,650$1,829$1,233$816$531$68
34 years$2,544$1,734$1,152$750$481$57
35 years$2,445$1,645$1,077$691$435$48
36 years$2,351$1,561$1,008$636$395$40
37 years$2,262$1,483$943$586$358$34
38 years$2,178$1,409$883$540$324$28
39 years$2,099$1,340$828$498$294$24
40 years$2,023$1,275$776$459$267$20
41 years$1,952$1,213$727$424$242$17
42 years$1,884$1,156$682$391$220$14
43 years$1,820$1,101$640$361$199$12
44 years$1,758$1,050$601$333$181$10
45 years$1,700$1,001$564$308$164$8
46 years$1,644$955$530$284$149$7
47 years$1,591$911$498$263$135$6
48 years$1,540$870$468$243$123$5
49 years$1,492$831$440$224$112$4
50 years$1,445$793$414$207$101$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,480,000, adding $3,782 every year, while hoping to spend $53,485 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: 78/17/5 Blend
61$1,480,000$1,480,000$1,480,000$1,480,000
62$1,634,861$1,556,421$1,533,481$1,761,711
63$1,744,709$1,575,778$1,527,945$1,864,744
64$1,863,969$1,594,291$1,520,431$1,970,329
65$1,993,545$1,611,862$1,510,816$2,084,510
66$2,134,430$1,628,387$1,498,972$2,208,114
67$2,287,718$1,643,754$1,484,764$2,342,057
68$2,454,612$1,657,844$1,468,050$2,487,343
69$2,636,436$1,670,532$1,448,683$2,645,081
70$2,834,646$1,681,682$1,426,508$2,816,491
71$3,050,847$1,691,152$1,401,363$3,002,917
72$3,286,803$1,698,788$1,373,078$3,205,841
73$3,544,457$1,704,428$1,341,476$3,426,895
74$3,825,947$1,707,901$1,306,371$3,667,877
75$4,133,628$1,709,022$1,267,568$3,930,767
76$4,470,091$1,707,597$1,224,865$4,217,750
77$4,838,191$1,703,420$1,178,049$4,531,230
78$5,241,069$1,696,270$1,126,896$4,873,858
79$5,682,187$1,685,916$1,071,176$5,248,555
80$6,165,354$1,672,111$1,010,645$5,658,540
81$6,694,768$1,654,591$945,049$6,107,361
82$7,275,049$1,633,081$874,122$6,598,926
83$7,911,287$1,607,285$797,589$7,137,546
84$8,609,088$1,576,892$715,158$7,727,966
85$9,374,626$1,541,571$626,527$8,375,422
86$10,214,703$1,500,973$531,381$9,085,680
87$11,136,810$1,454,727$429,389$9,865,096
88$12,149,198$1,402,442$320,207$10,720,676
89$13,260,957$1,343,703$203,475$11,660,141
90$14,482,101$1,278,071$78,817$12,692,001
91$15,823,660$1,205,081$0$13,825,635
92$17,297,786$1,124,242$0$15,074,271
93$18,917,866$1,035,037$0$16,451,086
94$20,698,649$936,914$0$17,964,451
95$22,656,384$829,296$0$19,628,227
96$24,808,972$711,568$0$21,457,694
97$27,176,135$583,083$0$23,469,689
98$29,779,603$443,156$0$25,682,768
99$32,643,318$291,065$0$28,117,381
100$35,793,656$126,048$0$30,796,066