Can I retire at age 62 with 1,550,000?

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 $1,550,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$127,998$126,857$125,745$124,659$123,599$121,552
2 years$63,365$62,185$61,041$59,932$58,857$56,800
3 years$41,824$40,639$39,498$38,399$37,341$35,339
4 years$31,055$29,874$28,744$27,664$26,632$24,700
5 years$24,596$23,421$22,307$21,249$20,245$18,389
6 years$20,291$19,125$18,027$16,993$16,019$14,241
7 years$17,217$16,061$14,981$13,971$13,028$11,328
8 years$14,913$13,768$12,705$11,720$10,808$9,186
9 years$13,122$11,987$10,943$9,983$9,102$7,557
10 years$11,690$10,566$9,540$8,605$7,755$6,286
11 years$10,519$9,406$8,399$7,489$6,670$5,275
12 years$9,543$8,443$7,454$6,569$5,780$4,457
13 years$8,719$7,630$6,659$5,799$5,040$3,788
14 years$8,013$6,935$5,984$5,148$4,418$3,234
15 years$7,402$6,335$5,402$4,591$3,890$2,772
16 years$6,867$5,813$4,898$4,111$3,438$2,384
17 years$6,396$5,353$4,457$3,694$3,048$2,056
18 years$5,978$4,947$4,069$3,329$2,711$1,777
19 years$5,604$4,584$3,725$3,008$2,416$1,539
20 years$5,268$4,260$3,418$2,724$2,158$1,335
21 years$4,964$3,968$3,144$2,472$1,931$1,160
22 years$4,689$3,704$2,898$2,248$1,731$1,009
23 years$4,437$3,464$2,676$2,047$1,554$879
24 years$4,207$3,246$2,475$1,867$1,397$766
25 years$3,996$3,046$2,292$1,705$1,257$668
26 years$3,801$2,863$2,126$1,559$1,132$583
27 years$3,621$2,694$1,974$1,427$1,021$510
28 years$3,455$2,539$1,835$1,308$921$445
29 years$3,300$2,395$1,708$1,199$832$389
30 years$3,155$2,262$1,591$1,100$751$341
31 years$3,020$2,138$1,483$1,011$679$298
32 years$2,894$2,023$1,383$929$615$261
33 years$2,776$1,916$1,292$854$556$228
34 years$2,665$1,816$1,207$786$504$200
35 years$2,560$1,722$1,128$723$456$175
36 years$2,462$1,635$1,056$666$413$154
37 years$2,369$1,553$988$614$374$135
38 years$2,281$1,476$925$566$340$118
39 years$2,198$1,403$867$522$308$103
40 years$2,119$1,335$813$481$279$91
41 years$2,044$1,271$762$444$253$79
42 years$1,973$1,210$715$410$230$70
43 years$1,906$1,153$671$378$209$61
44 years$1,842$1,099$629$349$189$54
45 years$1,780$1,048$591$323$172$47
46 years$1,722$1,000$555$298$156$41
47 years$1,666$954$522$275$142$36
48 years$1,613$911$490$254$129$32
49 years$1,562$870$461$235$117$28
50 years$1,513$831$433$217$106$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,550,000, adding $4,946 every year, while hoping to spend $43,977 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: 76/12/12 Blend
61$1,550,000$1,550,000$1,550,000$1,550,000
62$1,713,202$1,631,052$1,607,027$1,839,015
63$1,841,157$1,664,182$1,614,071$1,955,761
64$1,980,690$1,697,462$1,619,877$2,077,661
65$2,132,935$1,730,852$1,624,358$2,210,061
66$2,299,141$1,764,310$1,627,420$2,353,990
67$2,480,682$1,797,790$1,628,967$2,510,582
68$2,679,071$1,831,242$1,628,898$2,681,085
69$2,895,976$1,864,612$1,627,105$2,866,875
70$3,133,229$1,897,841$1,623,476$3,069,468
71$3,392,850$1,930,868$1,617,895$3,290,531
72$3,677,064$1,963,623$1,610,238$3,531,905
73$3,988,319$1,996,036$1,600,375$3,795,615
74$4,329,313$2,028,026$1,588,173$4,083,893
75$4,703,014$2,059,511$1,573,488$4,399,199
76$5,112,695$2,090,400$1,556,173$4,744,242
77$5,561,957$2,120,597$1,536,073$5,122,010
78$6,054,769$2,149,999$1,513,023$5,535,791
79$6,595,501$2,178,494$1,486,854$5,989,211
80$7,188,966$2,205,964$1,457,388$6,486,265
81$7,840,467$2,232,283$1,424,438$7,031,355
82$8,555,846$2,257,316$1,387,807$7,629,333
83$9,341,536$2,280,919$1,347,293$8,285,543
84$10,204,626$2,302,937$1,302,681$9,005,877
85$11,152,925$2,323,208$1,253,747$9,796,825
86$12,195,033$2,341,555$1,200,258$10,665,543
87$13,340,429$2,357,794$1,141,969$11,619,913
88$14,599,553$2,371,725$1,078,624$12,668,623
89$15,983,906$2,383,139$1,009,958$13,821,248
90$17,506,163$2,391,811$935,689$15,088,337
91$19,180,284$2,397,503$855,528$16,481,520
92$21,021,654$2,399,961$769,168$18,013,610
93$23,047,220$2,398,916$676,293$19,698,729
94$25,275,656$2,394,083$576,569$21,552,439
95$27,727,538$2,385,158$469,649$23,591,893
96$30,425,536$2,371,820$355,171$25,835,991
97$33,394,628$2,353,726$232,756$28,305,564
98$36,662,336$2,330,515$102,010$31,023,568
99$40,258,986$2,301,802$0$34,015,302
100$44,217,993$2,267,181$0$37,313,451