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%16.7%
1 years$127,172$126,039$124,934$123,855$122,802$119,446
2 years$62,956$61,784$60,647$59,546$58,477$55,120
3 years$41,554$40,376$39,243$38,152$37,100$33,848
4 years$30,855$29,681$28,559$27,486$26,460$23,337
5 years$24,437$23,270$22,163$21,112$20,115$17,130
6 years$20,160$19,002$17,911$16,883$15,916$13,072
7 years$17,106$15,958$14,884$13,881$12,944$10,241
8 years$14,817$13,679$12,623$11,644$10,738$8,175
9 years$13,037$11,910$10,872$9,918$9,043$6,617
10 years$11,614$10,498$9,478$8,550$7,705$5,413
11 years$10,451$9,346$8,345$7,441$6,627$4,465
12 years$9,482$8,388$7,406$6,527$5,743$3,707
13 years$8,663$7,580$6,617$5,762$5,008$3,095
14 years$7,961$6,890$5,945$5,115$4,390$2,594
15 years$7,354$6,295$5,368$4,562$3,865$2,182
16 years$6,823$5,775$4,866$4,084$3,416$1,841
17 years$6,355$5,319$4,428$3,670$3,029$1,557
18 years$5,939$4,915$4,042$3,307$2,693$1,320
19 years$5,568$4,555$3,701$2,988$2,400$1,120
20 years$5,234$4,233$3,396$2,707$2,144$952
21 years$4,932$3,943$3,124$2,456$1,919$810
22 years$4,658$3,680$2,879$2,233$1,720$690
23 years$4,409$3,442$2,658$2,034$1,544$589
24 years$4,180$3,225$2,459$1,855$1,388$502
25 years$3,970$3,026$2,277$1,694$1,249$429
26 years$3,777$2,844$2,112$1,549$1,125$366
27 years$3,598$2,677$1,961$1,418$1,014$313
28 years$3,432$2,522$1,823$1,299$915$268
29 years$3,278$2,380$1,697$1,191$826$229
30 years$3,135$2,247$1,580$1,093$747$196
31 years$3,001$2,124$1,473$1,004$675$168
32 years$2,875$2,010$1,375$923$611$143
33 years$2,758$1,904$1,283$849$553$123
34 years$2,648$1,804$1,199$781$500$105
35 years$2,544$1,711$1,121$719$453$90
36 years$2,446$1,624$1,049$662$411$77
37 years$2,354$1,543$982$610$372$66
38 years$2,266$1,466$919$562$337$57
39 years$2,184$1,394$861$518$306$48
40 years$2,105$1,326$807$478$277$41
41 years$2,031$1,263$757$441$252$36
42 years$1,961$1,202$710$407$228$30
43 years$1,894$1,146$666$376$207$26
44 years$1,830$1,092$625$347$188$22
45 years$1,769$1,041$587$320$171$19
46 years$1,711$993$552$296$155$16
47 years$1,656$948$518$273$141$14
48 years$1,603$905$487$253$128$12
49 years$1,552$864$458$234$116$10
50 years$1,504$826$430$216$106$9

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 $3,161 every year, while hoping to spend $25,615 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: 47/39/14 Blend
61$1,540,000$1,540,000$1,540,000$1,540,000
62$1,700,341$1,618,721$1,594,851$1,773,434
63$1,846,521$1,670,784$1,621,024$1,876,423
64$2,006,754$1,724,539$1,647,216$1,985,257
65$2,182,444$1,780,044$1,673,399$2,102,813
66$2,375,142$1,837,354$1,699,546$2,229,914
67$2,586,553$1,896,531$1,725,627$2,367,463
68$2,818,555$1,957,635$1,751,610$2,516,454
69$3,073,219$2,020,731$1,777,461$2,677,980
70$3,352,825$2,085,884$1,803,143$2,853,245
71$3,659,885$2,153,163$1,828,619$3,043,570
72$3,997,164$2,222,639$1,853,849$3,250,413
73$4,367,710$2,294,384$1,878,788$3,475,375
74$4,774,882$2,368,474$1,903,393$3,720,221
75$5,222,377$2,444,987$1,927,614$3,986,890
76$5,714,271$2,524,003$1,951,401$4,277,519
77$6,255,054$2,605,606$1,974,700$4,594,460
78$6,849,672$2,689,883$1,997,455$4,940,302
79$7,503,573$2,776,922$2,019,604$5,317,895
80$8,222,762$2,866,816$2,041,086$5,730,378
81$9,013,854$2,959,660$2,061,832$6,181,206
82$9,884,137$3,055,553$2,081,773$6,674,184
83$10,841,641$3,154,598$2,100,835$7,213,502
84$11,895,214$3,256,899$2,118,939$7,803,777
85$13,054,605$3,362,566$2,136,003$8,450,088
86$14,330,556$3,471,713$2,151,939$9,158,035
87$15,734,901$3,584,455$2,166,658$9,933,781
88$17,280,683$3,700,915$2,180,063$10,784,117
89$18,982,270$3,821,217$2,192,052$11,716,522
90$20,855,496$3,945,492$2,202,521$12,739,236
91$22,917,808$4,073,872$2,211,356$13,861,332
92$25,188,430$4,206,497$2,218,442$15,092,808
93$27,688,544$4,343,510$2,223,655$16,444,676
94$30,441,494$4,485,060$2,226,865$17,929,069
95$33,472,999$4,631,301$2,227,938$19,559,352
96$36,811,402$4,782,391$2,226,730$21,350,248
97$40,487,932$4,938,496$2,223,094$23,317,980
98$44,537,005$5,099,786$2,216,870$25,480,418
99$48,996,540$5,266,437$2,207,897$27,857,252
100$53,908,327$5,438,631$2,196,001$30,470,176