Can I retire at age 62 with 1,540,000?

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 $1,540,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$127,172$126,039$124,934$123,855$122,802$121,267
2 years$62,956$61,784$60,647$59,546$58,477$56,933
3 years$41,554$40,376$39,243$38,152$37,100$35,595
4 years$30,855$29,681$28,559$27,486$26,460$25,005
5 years$24,437$23,270$22,163$21,112$20,115$18,713
6 years$20,160$19,002$17,911$16,883$15,916$14,571
7 years$17,106$15,958$14,884$13,881$12,944$11,655
8 years$14,817$13,679$12,623$11,644$10,738$9,506
9 years$13,037$11,910$10,872$9,918$9,043$7,866
10 years$11,614$10,498$9,478$8,550$7,705$6,584
11 years$10,451$9,346$8,345$7,441$6,627$5,559
12 years$9,482$8,388$7,406$6,527$5,743$4,728
13 years$8,663$7,580$6,617$5,762$5,008$4,044
14 years$7,961$6,890$5,945$5,115$4,390$3,476
15 years$7,354$6,295$5,368$4,562$3,865$3,000
16 years$6,823$5,775$4,866$4,084$3,416$2,598
17 years$6,355$5,319$4,428$3,670$3,029$2,257
18 years$5,939$4,915$4,042$3,307$2,693$1,965
19 years$5,568$4,555$3,701$2,988$2,400$1,714
20 years$5,234$4,233$3,396$2,707$2,144$1,498
21 years$4,932$3,943$3,124$2,456$1,919$1,311
22 years$4,658$3,680$2,879$2,233$1,720$1,150
23 years$4,409$3,442$2,658$2,034$1,544$1,009
24 years$4,180$3,225$2,459$1,855$1,388$886
25 years$3,970$3,026$2,277$1,694$1,249$779
26 years$3,777$2,844$2,112$1,549$1,125$686
27 years$3,598$2,677$1,961$1,418$1,014$604
28 years$3,432$2,522$1,823$1,299$915$532
29 years$3,278$2,380$1,697$1,191$826$469
30 years$3,135$2,247$1,580$1,093$747$414
31 years$3,001$2,124$1,473$1,004$675$365
32 years$2,875$2,010$1,375$923$611$322
33 years$2,758$1,904$1,283$849$553$284
34 years$2,648$1,804$1,199$781$500$251
35 years$2,544$1,711$1,121$719$453$222
36 years$2,446$1,624$1,049$662$411$196
37 years$2,354$1,543$982$610$372$173
38 years$2,266$1,466$919$562$337$153
39 years$2,184$1,394$861$518$306$135
40 years$2,105$1,326$807$478$277$120
41 years$2,031$1,263$757$441$252$106
42 years$1,961$1,202$710$407$228$94
43 years$1,894$1,146$666$376$207$83
44 years$1,830$1,092$625$347$188$73
45 years$1,769$1,041$587$320$171$65
46 years$1,711$993$552$296$155$57
47 years$1,656$948$518$273$141$51
48 years$1,603$905$487$253$128$45
49 years$1,552$864$458$234$116$40
50 years$1,504$826$430$216$106$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,540,000, adding $6,152 every year, while hoping to spend $49,155 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: 65/22/13 Blend
61$1,540,000$1,540,000$1,540,000$1,540,000
62$1,703,426$1,621,806$1,597,936$1,808,618
63$1,824,875$1,648,974$1,599,166$1,906,823
64$1,957,064$1,675,825$1,598,790$2,007,791
65$2,101,037$1,702,294$1,596,702$2,116,885
66$2,257,943$1,728,306$1,592,792$2,234,897
67$2,429,044$1,753,784$1,586,942$2,362,698
68$2,615,733$1,778,646$1,579,031$2,501,250
69$2,819,541$1,802,803$1,568,931$2,651,612
70$3,042,153$1,826,158$1,556,509$2,814,951
71$3,285,423$1,848,612$1,541,623$2,992,555
72$3,551,397$1,870,053$1,524,127$3,185,841
73$3,842,321$1,890,368$1,503,868$3,396,374
74$4,160,674$1,909,432$1,480,683$3,625,877
75$4,509,181$1,927,112$1,454,404$3,876,251
76$4,890,845$1,943,269$1,424,855$4,149,590
77$5,308,974$1,957,752$1,391,850$4,448,205
78$5,767,208$1,970,401$1,355,196$4,774,640
79$6,269,560$1,981,046$1,314,691$5,131,702
80$6,820,445$1,989,507$1,270,123$5,522,486
81$7,424,729$1,995,592$1,221,271$5,950,403
82$8,087,770$1,999,095$1,167,903$6,419,213
83$8,815,473$1,999,801$1,109,778$6,933,061
84$9,614,337$1,997,477$1,046,642$7,496,518
85$10,491,526$1,991,880$978,230$8,114,623
86$11,454,929$1,982,750$904,268$8,792,929
87$12,513,237$1,969,809$824,466$9,537,561
88$13,676,024$1,952,767$738,523$10,355,268
89$14,953,838$1,931,312$646,123$11,253,492
90$16,358,299$1,905,116$546,938$12,240,436
91$17,902,209$1,873,831$440,624$13,325,145
92$19,599,672$1,837,086$326,823$14,517,588
93$21,466,227$1,794,491$205,159$15,828,754
94$23,518,993$1,745,632$75,242$17,270,760
95$25,776,832$1,690,069$0$18,856,960
96$28,260,526$1,627,340$0$20,610,870
97$30,992,972$1,556,952$0$22,551,634
98$33,999,399$1,478,386$0$24,686,756
99$37,307,603$1,391,093$0$27,036,019
100$40,948,212$1,294,490$0$29,621,227