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%17.1%
1 years$127,998$126,857$125,745$124,659$123,599$120,028
2 years$63,365$62,185$61,041$59,932$58,857$55,287
3 years$41,824$40,639$39,498$38,399$37,341$33,885
4 years$31,055$29,874$28,744$27,664$26,632$23,316
5 years$24,596$23,421$22,307$21,249$20,245$17,078
6 years$20,291$19,125$18,027$16,993$16,019$13,004
7 years$17,217$16,061$14,981$13,971$13,028$10,165
8 years$14,913$13,768$12,705$11,720$10,808$8,095
9 years$13,122$11,987$10,943$9,983$9,102$6,536
10 years$11,690$10,566$9,540$8,605$7,755$5,334
11 years$10,519$9,406$8,399$7,489$6,670$4,388
12 years$9,543$8,443$7,454$6,569$5,780$3,634
13 years$8,719$7,630$6,659$5,799$5,040$3,025
14 years$8,013$6,935$5,984$5,148$4,418$2,529
15 years$7,402$6,335$5,402$4,591$3,890$2,121
16 years$6,867$5,813$4,898$4,111$3,438$1,785
17 years$6,396$5,353$4,457$3,694$3,048$1,505
18 years$5,978$4,947$4,069$3,329$2,711$1,272
19 years$5,604$4,584$3,725$3,008$2,416$1,076
20 years$5,268$4,260$3,418$2,724$2,158$912
21 years$4,964$3,968$3,144$2,472$1,931$774
22 years$4,689$3,704$2,898$2,248$1,731$657
23 years$4,437$3,464$2,676$2,047$1,554$559
24 years$4,207$3,246$2,475$1,867$1,397$475
25 years$3,996$3,046$2,292$1,705$1,257$404
26 years$3,801$2,863$2,126$1,559$1,132$344
27 years$3,621$2,694$1,974$1,427$1,021$293
28 years$3,455$2,539$1,835$1,308$921$250
29 years$3,300$2,395$1,708$1,199$832$213
30 years$3,155$2,262$1,591$1,100$751$182
31 years$3,020$2,138$1,483$1,011$679$155
32 years$2,894$2,023$1,383$929$615$132
33 years$2,776$1,916$1,292$854$556$113
34 years$2,665$1,816$1,207$786$504$96
35 years$2,560$1,722$1,128$723$456$82
36 years$2,462$1,635$1,056$666$413$70
37 years$2,369$1,553$988$614$374$60
38 years$2,281$1,476$925$566$340$51
39 years$2,198$1,403$867$522$308$44
40 years$2,119$1,335$813$481$279$37
41 years$2,044$1,271$762$444$253$32
42 years$1,973$1,210$715$410$230$27
43 years$1,906$1,153$671$378$209$23
44 years$1,842$1,099$629$349$189$20
45 years$1,780$1,048$591$323$172$17
46 years$1,722$1,000$555$298$156$14
47 years$1,666$954$522$275$142$12
48 years$1,613$911$490$254$129$11
49 years$1,562$870$461$235$117$9
50 years$1,513$831$433$217$106$8

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 $5,179 every year, while hoping to spend $23,609 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: 55/36/9 Blend
61$1,550,000$1,550,000$1,550,000$1,550,000
62$1,713,442$1,631,292$1,607,267$1,803,648
63$1,863,093$1,686,106$1,635,991$1,920,062
64$2,027,218$1,742,814$1,664,885$2,043,701
65$2,207,267$1,801,484$1,693,932$2,177,750
66$2,404,839$1,862,188$1,723,109$2,323,201
67$2,621,695$1,924,998$1,752,396$2,481,147
68$2,859,774$1,989,989$1,781,768$2,652,791
69$3,121,214$2,057,241$1,811,200$2,839,455
70$3,408,367$2,126,835$1,840,664$3,042,595
71$3,723,827$2,198,857$1,870,133$3,263,809
72$4,070,450$2,273,393$1,899,575$3,504,862
73$4,451,382$2,350,535$1,928,957$3,767,690
74$4,870,090$2,430,379$1,958,244$4,054,428
75$5,330,394$2,513,022$1,987,399$4,367,424
76$5,836,500$2,598,566$2,016,383$4,709,264
77$6,393,045$2,687,118$2,045,154$5,082,794
78$7,005,136$2,778,787$2,073,667$5,491,146
79$7,678,400$2,873,688$2,101,876$5,937,771
80$8,419,038$2,971,940$2,129,730$6,426,466
81$9,233,880$3,073,665$2,157,176$6,961,413
82$10,130,453$3,178,992$2,184,158$7,547,217
83$11,117,050$3,288,054$2,210,619$8,188,951
84$12,202,809$3,400,988$2,236,494$8,892,197
85$13,397,798$3,517,938$2,261,719$9,663,108
86$14,713,110$3,639,054$2,286,223$10,508,456
87$16,160,969$3,764,489$2,309,933$11,435,702
88$17,754,843$3,894,405$2,332,772$12,453,063
89$19,509,575$4,028,969$2,354,657$13,569,590
90$21,441,518$4,168,354$2,375,504$14,795,253
91$23,568,690$4,312,741$2,395,221$16,141,033
92$25,910,948$4,462,317$2,413,713$17,619,026
93$28,490,172$4,617,277$2,430,879$19,242,559
94$31,330,470$4,777,824$2,446,614$21,026,310
95$34,458,408$4,944,169$2,460,806$22,986,451
96$37,903,262$5,116,529$2,473,340$25,140,796
97$41,697,289$5,295,133$2,484,091$27,508,973
98$45,876,036$5,480,218$2,492,931$30,112,603
99$50,478,671$5,672,028$2,499,724$32,975,508
100$55,548,359$5,870,821$2,504,328$36,123,932