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%17.5%
1 years$122,217$121,128$120,066$119,030$118,017$114,423
2 years$60,503$59,377$58,285$57,226$56,199$52,608
3 years$39,935$38,803$37,714$36,665$35,655$32,181
4 years$29,653$28,525$27,446$26,415$25,429$22,098
5 years$23,485$22,364$21,299$20,289$19,331$16,152
6 years$19,375$18,262$17,213$16,226$15,296$12,272
7 years$16,440$15,336$14,304$13,340$12,440$9,571
8 years$14,239$13,146$12,131$11,191$10,320$7,604
9 years$12,529$11,446$10,448$9,532$8,691$6,125
10 years$11,162$10,089$9,109$8,217$7,405$4,986
11 years$10,044$8,982$8,020$7,151$6,369$4,091
12 years$9,112$8,061$7,117$6,272$5,519$3,379
13 years$8,325$7,285$6,359$5,537$4,813$2,805
14 years$7,651$6,622$5,713$4,916$4,219$2,339
15 years$7,067$6,049$5,158$4,384$3,714$1,956
16 years$6,557$5,550$4,677$3,925$3,283$1,641
17 years$6,107$5,111$4,256$3,527$2,911$1,380
18 years$5,708$4,723$3,885$3,178$2,588$1,162
19 years$5,351$4,377$3,556$2,872$2,307$981
20 years$5,030$4,068$3,264$2,601$2,061$829
21 years$4,740$3,789$3,002$2,361$1,844$701
22 years$4,477$3,537$2,767$2,146$1,653$593
23 years$4,237$3,308$2,555$1,955$1,484$503
24 years$4,017$3,099$2,363$1,783$1,334$426
25 years$3,816$2,909$2,188$1,628$1,200$362
26 years$3,630$2,734$2,030$1,489$1,081$307
27 years$3,458$2,573$1,885$1,363$975$261
28 years$3,299$2,424$1,752$1,248$879$221
29 years$3,151$2,287$1,630$1,145$794$188
30 years$3,013$2,160$1,519$1,051$717$160
31 years$2,884$2,042$1,416$965$649$136
32 years$2,763$1,932$1,321$887$587$116
33 years$2,650$1,829$1,233$816$531$98
34 years$2,544$1,734$1,152$750$481$84
35 years$2,445$1,645$1,077$691$435$71
36 years$2,351$1,561$1,008$636$395$60
37 years$2,262$1,483$943$586$358$51
38 years$2,178$1,409$883$540$324$44
39 years$2,099$1,340$828$498$294$37
40 years$2,023$1,275$776$459$267$32
41 years$1,952$1,213$727$424$242$27
42 years$1,884$1,156$682$391$220$23
43 years$1,820$1,101$640$361$199$20
44 years$1,758$1,050$601$333$181$17
45 years$1,700$1,001$564$308$164$14
46 years$1,644$955$530$284$149$12
47 years$1,591$911$498$263$135$10
48 years$1,540$870$468$243$123$9
49 years$1,492$831$440$224$112$7
50 years$1,445$793$414$207$101$6

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 $6,040 every year, while hoping to spend $30,854 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: 65/11/24 Blend
61$1,480,000$1,480,000$1,480,000$1,480,000
62$1,637,190$1,558,750$1,535,810$1,733,029
63$1,771,355$1,602,301$1,554,431$1,841,890
64$1,918,171$1,646,951$1,572,642$1,956,806
65$2,078,895$1,692,722$1,590,397$2,081,703
66$2,254,913$1,739,636$1,607,646$2,217,564
67$2,447,750$1,787,714$1,624,337$2,365,471
68$2,659,085$1,836,977$1,640,418$2,526,617
69$2,890,769$1,887,446$1,655,829$2,702,315
70$3,144,840$1,939,143$1,670,511$2,894,012
71$3,423,540$1,992,088$1,684,400$3,103,302
72$3,729,343$2,046,302$1,697,429$3,331,942
73$4,064,971$2,101,805$1,709,528$3,581,866
74$4,433,422$2,158,618$1,720,621$3,855,208
75$4,838,001$2,216,760$1,730,632$4,154,316
76$5,282,347$2,276,251$1,739,478$4,481,779
77$5,770,468$2,337,110$1,747,073$4,840,450
78$6,306,782$2,399,354$1,753,325$5,233,472
79$6,896,153$2,463,001$1,758,141$5,664,308
80$7,543,941$2,528,069$1,761,419$6,136,775
81$8,256,051$2,594,572$1,763,055$6,655,080
82$9,038,990$2,662,528$1,762,939$7,223,855
83$9,899,924$2,731,949$1,760,954$7,848,209
84$10,846,750$2,802,849$1,756,980$8,533,770
85$11,888,170$2,875,239$1,750,890$9,286,739
86$13,033,768$2,949,131$1,742,550$10,113,952
87$14,294,107$3,024,533$1,731,820$11,022,940
88$15,680,824$3,101,453$1,718,554$12,022,004
89$17,206,741$3,179,897$1,702,598$13,120,291
90$18,885,984$3,259,868$1,683,791$14,327,881
91$20,734,122$3,341,369$1,661,966$15,655,884
92$22,768,306$3,424,399$1,636,944$17,116,540
93$25,007,434$3,508,955$1,608,543$18,723,343
94$27,472,331$3,595,033$1,576,568$20,491,159
95$30,185,943$3,682,624$1,540,818$22,436,375
96$33,173,554$3,771,717$1,501,080$24,577,046
97$36,463,023$3,862,298$1,457,133$26,933,074
98$40,085,050$3,954,349$1,408,745$29,526,388
99$44,073,461$4,047,849$1,355,675$32,381,157
100$48,465,533$4,142,772$1,297,668$35,524,015