Can I retire at age 62 with 1,570,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,570,000?

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$129,649$128,494$127,368$126,268$125,194$121,772
2 years$64,183$62,987$61,829$60,706$59,616$56,194
3 years$42,363$41,163$40,007$38,895$37,823$34,507
4 years$31,456$30,259$29,115$28,021$26,976$23,792
5 years$24,913$23,724$22,595$21,523$20,506$17,464
6 years$20,553$19,372$18,260$17,212$16,226$13,327
7 years$17,439$16,269$15,174$14,151$13,196$10,441
8 years$15,105$13,945$12,869$11,871$10,947$8,334
9 years$13,291$12,142$11,084$10,111$9,219$6,746
10 years$11,840$10,702$9,663$8,716$7,855$5,519
11 years$10,654$9,528$8,507$7,586$6,756$4,552
12 years$9,667$8,552$7,550$6,654$5,854$3,780
13 years$8,831$7,728$6,745$5,874$5,105$3,155
14 years$8,116$7,025$6,061$5,214$4,475$2,645
15 years$7,497$6,417$5,472$4,650$3,940$2,225
16 years$6,956$5,888$4,961$4,164$3,482$1,877
17 years$6,479$5,422$4,515$3,741$3,088$1,587
18 years$6,055$5,010$4,121$3,372$2,746$1,345
19 years$5,676$4,644$3,773$3,047$2,447$1,142
20 years$5,336$4,315$3,462$2,759$2,186$971
21 years$5,028$4,019$3,185$2,504$1,956$826
22 years$4,749$3,752$2,935$2,277$1,753$704
23 years$4,495$3,509$2,710$2,074$1,574$600
24 years$4,262$3,288$2,506$1,891$1,415$512
25 years$4,048$3,085$2,321$1,727$1,273$437
26 years$3,850$2,900$2,153$1,579$1,147$374
27 years$3,668$2,729$1,999$1,446$1,034$319
28 years$3,499$2,572$1,859$1,324$933$273
29 years$3,342$2,426$1,730$1,215$842$233
30 years$3,196$2,291$1,611$1,115$761$200
31 years$3,059$2,166$1,502$1,024$688$171
32 years$2,931$2,049$1,401$941$622$146
33 years$2,812$1,941$1,308$865$563$125
34 years$2,699$1,839$1,223$796$510$107
35 years$2,593$1,745$1,143$733$462$92
36 years$2,494$1,656$1,069$675$419$79
37 years$2,399$1,573$1,001$622$379$67
38 years$2,310$1,495$937$573$344$58
39 years$2,226$1,421$878$528$312$49
40 years$2,146$1,352$823$487$283$42
41 years$2,071$1,287$772$450$257$36
42 years$1,999$1,226$724$415$233$31
43 years$1,930$1,168$679$383$211$27
44 years$1,865$1,113$638$354$192$23
45 years$1,803$1,062$599$327$174$20
46 years$1,744$1,013$562$302$158$17
47 years$1,688$967$528$279$144$14
48 years$1,634$923$496$258$130$12
49 years$1,582$881$467$238$118$11
50 years$1,533$842$439$220$108$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,570,000, adding $6,400 every year, while hoping to spend $27,043 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: 77/8/15 Blend
61$1,570,000$1,570,000$1,570,000$1,570,000
62$1,736,742$1,653,532$1,629,197$1,864,448
63$1,885,116$1,705,781$1,655,001$2,001,829
64$2,047,718$1,759,684$1,680,764$2,148,400
65$2,225,970$1,815,294$1,706,455$2,308,385
66$2,421,440$1,872,664$1,732,042$2,483,115
67$2,635,853$1,931,851$1,757,491$2,674,052
68$2,871,110$1,992,912$1,782,767$2,882,809
69$3,129,304$2,055,906$1,807,831$3,111,163
70$3,412,743$2,120,895$1,832,643$3,361,068
71$3,723,967$2,187,943$1,857,161$3,634,679
72$4,065,773$2,257,114$1,881,338$3,934,371
73$4,441,246$2,328,477$1,905,126$4,262,756
74$4,853,781$2,402,100$1,928,476$4,622,715
75$5,307,120$2,478,056$1,951,333$5,017,420
76$5,805,384$2,556,419$1,973,641$5,450,367
77$6,353,115$2,637,265$1,995,340$5,925,405
78$6,955,316$2,720,673$2,016,366$6,446,778
79$7,617,497$2,806,726$2,036,653$7,019,158
80$8,345,732$2,895,506$2,056,132$7,647,695
81$9,146,712$2,987,100$2,074,727$8,338,062
82$10,027,807$3,081,599$2,092,361$9,096,509
83$10,997,141$3,179,094$2,108,952$9,929,924
84$12,063,661$3,279,682$2,124,414$10,845,895
85$13,237,227$3,383,459$2,138,655$11,852,782
86$14,528,704$3,490,529$2,151,580$12,959,798
87$15,950,063$3,600,995$2,163,088$14,177,093
88$17,514,491$3,714,966$2,173,074$15,515,853
89$19,236,524$3,832,554$2,181,427$16,988,402
90$21,132,174$3,953,874$2,188,029$18,608,319
91$23,219,086$4,079,044$2,192,758$20,390,568
92$25,516,703$4,208,187$2,195,486$22,351,637
93$28,046,449$4,341,431$2,196,077$24,509,696
94$30,831,931$4,478,905$2,194,390$26,884,766
95$33,899,162$4,620,745$2,190,276$29,498,906
96$37,276,805$4,767,090$2,183,578$32,376,429
97$40,996,445$4,918,084$2,174,135$35,544,120
98$45,092,887$5,073,875$2,161,773$39,031,500
99$49,604,483$5,234,616$2,146,313$42,871,097
100$54,573,492$5,400,464$2,127,567$47,098,755