Can I retire at age 62 with 1,490,000?

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 $1,490,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$123,043$121,947$120,878$119,834$118,815$114,191
2 years$60,912$59,778$58,678$57,612$56,578$51,976
3 years$40,205$39,065$37,969$36,913$35,896$31,459
4 years$29,853$28,717$27,632$26,594$25,601$21,365
5 years$23,644$22,515$21,443$20,426$19,462$15,436
6 years$19,505$18,385$17,329$16,335$15,399$11,587
7 years$16,551$15,440$14,401$13,430$12,524$8,923
8 years$14,336$13,235$12,213$11,266$10,390$6,998
9 years$12,614$11,523$10,519$9,596$8,750$5,562
10 years$11,237$10,157$9,171$8,272$7,455$4,465
11 years$10,111$9,042$8,074$7,199$6,412$3,612
12 years$9,174$8,116$7,165$6,315$5,556$2,940
13 years$8,381$7,334$6,402$5,575$4,845$2,404
14 years$7,703$6,667$5,752$4,949$4,247$1,974
15 years$7,115$6,090$5,193$4,413$3,740$1,625
16 years$6,601$5,588$4,708$3,952$3,305$1,342
17 years$6,148$5,146$4,284$3,551$2,930$1,110
18 years$5,746$4,755$3,911$3,200$2,606$920
19 years$5,387$4,407$3,580$2,891$2,322$763
20 years$5,064$4,095$3,286$2,619$2,074$634
21 years$4,772$3,815$3,022$2,377$1,856$527
22 years$4,507$3,561$2,786$2,161$1,664$439
23 years$4,266$3,330$2,572$1,968$1,494$366
24 years$4,045$3,120$2,379$1,795$1,343$305
25 years$3,841$2,928$2,203$1,639$1,208$254
26 years$3,654$2,752$2,043$1,499$1,088$212
27 years$3,481$2,590$1,897$1,372$981$177
28 years$3,321$2,441$1,764$1,257$885$147
29 years$3,172$2,302$1,641$1,153$799$123
30 years$3,033$2,174$1,529$1,058$722$103
31 years$2,903$2,055$1,425$972$653$86
32 years$2,782$1,945$1,330$893$591$72
33 years$2,668$1,842$1,242$821$535$60
34 years$2,562$1,746$1,160$755$484$50
35 years$2,461$1,656$1,085$695$438$42
36 years$2,366$1,572$1,015$640$397$35
37 years$2,277$1,493$950$590$360$29
38 years$2,193$1,418$889$544$326$24
39 years$2,113$1,349$833$502$296$20
40 years$2,037$1,283$781$463$268$17
41 years$1,965$1,222$732$427$244$14
42 years$1,897$1,163$687$394$221$12
43 years$1,832$1,108$645$364$201$10
44 years$1,770$1,057$605$336$182$8
45 years$1,711$1,008$568$310$165$7
46 years$1,655$961$534$286$150$6
47 years$1,602$917$501$265$136$5
48 years$1,551$876$471$244$124$4
49 years$1,502$836$443$226$112$3
50 years$1,455$799$416$209$102$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,490,000, adding $5,168 every year, while hoping to spend $24,083 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: 50/43/7 Blend
61$1,490,000$1,490,000$1,490,000$1,490,000
62$1,647,311$1,568,341$1,545,246$1,726,494
63$1,789,712$1,619,565$1,571,387$1,832,258
64$1,945,832$1,672,493$1,597,598$1,944,110
65$2,117,043$1,727,181$1,623,853$2,065,077
66$2,304,858$1,783,690$1,650,130$2,196,018
67$2,510,945$1,842,083$1,676,400$2,337,877
68$2,737,140$1,902,422$1,702,638$2,491,693
69$2,985,463$1,964,776$1,728,811$2,658,609
70$3,258,143$2,029,213$1,754,889$2,839,880
71$3,557,634$2,095,804$1,780,838$3,036,889
72$3,886,638$2,164,624$1,806,622$3,251,155
73$4,248,133$2,235,750$1,832,202$3,484,352
74$4,645,401$2,309,259$1,857,538$3,738,319
75$5,082,054$2,385,235$1,882,589$4,015,082
76$5,562,075$2,463,763$1,907,307$4,316,871
77$6,089,850$2,544,931$1,931,645$4,646,138
78$6,670,212$2,628,830$1,955,552$5,005,584
79$7,308,486$2,715,555$1,978,976$5,398,182
80$8,010,538$2,805,204$2,001,858$5,827,205
81$8,782,832$2,897,877$2,024,139$6,296,255
82$9,632,489$2,993,682$2,045,756$6,809,299
83$10,567,356$3,092,725$2,066,642$7,370,706
84$11,596,079$3,195,121$2,086,726$7,985,284
85$12,728,183$3,300,986$2,105,936$8,658,331
86$13,974,165$3,410,442$2,124,192$9,395,679
87$15,345,590$3,523,614$2,141,413$10,203,751
88$16,855,201$3,640,632$2,157,511$11,089,621
89$18,517,040$3,761,631$2,172,396$12,061,080
90$20,346,578$3,886,751$2,185,971$13,126,711
91$22,360,865$4,016,138$2,198,137$14,295,964
92$24,578,685$4,149,941$2,208,787$15,579,251
93$27,020,739$4,288,316$2,217,809$16,988,040
94$29,709,836$4,431,425$2,225,087$18,534,963
95$32,671,110$4,579,435$2,230,498$20,233,937
96$35,932,255$4,732,520$2,233,913$22,100,289
97$39,523,792$4,890,860$2,235,195$24,150,908
98$43,479,349$5,054,642$2,234,204$26,404,398
99$47,835,982$5,224,059$2,230,789$28,881,252
100$52,634,526$5,399,312$2,224,795$31,604,052