Can I retire at age 62 with 1,580,000?

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 $1,580,000?

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$130,475$129,313$128,179$127,072$125,991$124,417
2 years$64,592$63,389$62,223$61,092$59,996$58,412
3 years$42,633$41,425$40,262$39,142$38,064$36,519
4 years$31,656$30,452$29,301$28,200$27,147$25,654
5 years$25,072$23,875$22,738$21,660$20,637$19,199
6 years$20,684$19,495$18,376$17,322$16,329$14,949
7 years$17,550$16,372$15,271$14,241$13,280$11,958
8 years$15,202$14,034$12,951$11,947$11,017$9,753
9 years$13,376$12,219$11,154$10,176$9,278$8,071
10 years$11,916$10,771$9,725$8,772$7,905$6,755
11 years$10,722$9,588$8,561$7,634$6,799$5,703
12 years$9,728$8,606$7,598$6,696$5,892$4,851
13 years$8,888$7,777$6,788$5,912$5,138$4,149
14 years$8,168$7,069$6,099$5,248$4,504$3,567
15 years$7,545$6,458$5,507$4,680$3,965$3,078
16 years$7,000$5,925$4,993$4,190$3,505$2,666
17 years$6,520$5,457$4,543$3,765$3,107$2,315
18 years$6,093$5,042$4,147$3,393$2,763$2,016
19 years$5,712$4,673$3,797$3,066$2,463$1,759
20 years$5,370$4,343$3,484$2,777$2,200$1,537
21 years$5,060$4,045$3,205$2,520$1,969$1,345
22 years$4,779$3,776$2,954$2,291$1,765$1,179
23 years$4,523$3,531$2,727$2,087$1,584$1,035
24 years$4,289$3,309$2,522$1,903$1,424$909
25 years$4,073$3,105$2,336$1,738$1,281$799
26 years$3,875$2,918$2,167$1,589$1,154$704
27 years$3,692$2,746$2,012$1,455$1,040$619
28 years$3,521$2,588$1,870$1,333$939$546
29 years$3,363$2,441$1,741$1,222$848$481
30 years$3,216$2,306$1,621$1,122$766$424
31 years$3,079$2,180$1,512$1,030$692$374
32 years$2,950$2,062$1,410$947$626$330
33 years$2,830$1,953$1,317$871$567$292
34 years$2,716$1,851$1,230$801$513$258
35 years$2,610$1,756$1,150$737$465$228
36 years$2,509$1,666$1,076$679$421$201
37 years$2,415$1,583$1,007$626$382$178
38 years$2,325$1,504$943$577$346$157
39 years$2,240$1,430$884$532$314$139
40 years$2,160$1,361$828$491$285$123
41 years$2,084$1,295$777$453$258$109
42 years$2,012$1,234$728$418$234$96
43 years$1,943$1,175$684$386$213$85
44 years$1,877$1,120$642$356$193$75
45 years$1,815$1,068$603$329$175$66
46 years$1,755$1,019$566$304$159$59
47 years$1,699$973$532$281$144$52
48 years$1,644$929$500$259$131$46
49 years$1,592$887$470$240$119$41
50 years$1,543$847$441$221$108$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,580,000, adding $3,759 every year, while hoping to spend $58,884 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: 67/8/25 Blend
61$1,580,000$1,580,000$1,580,000$1,580,000
62$1,745,037$1,661,297$1,636,807$1,850,444
63$1,860,379$1,680,049$1,628,988$1,940,524
64$1,985,512$1,697,746$1,618,934$2,031,961
65$2,121,373$1,714,274$1,606,507$2,130,613
66$2,268,992$1,729,512$1,591,563$2,237,193
67$2,429,502$1,743,331$1,573,954$2,352,488
68$2,604,150$1,755,593$1,553,520$2,477,367
69$2,794,307$1,766,151$1,530,097$2,612,788
70$3,001,483$1,774,849$1,503,512$2,759,807
71$3,227,339$1,781,521$1,473,584$2,919,591
72$3,473,703$1,785,991$1,440,125$3,093,425
73$3,742,587$1,788,072$1,402,935$3,282,729
74$4,036,207$1,787,562$1,361,809$3,489,068
75$4,356,999$1,784,252$1,316,529$3,714,169
76$4,707,649$1,777,917$1,266,869$3,959,936
77$5,091,112$1,768,317$1,212,592$4,228,471
78$5,510,641$1,755,201$1,153,449$4,522,090
79$5,969,820$1,738,299$1,089,183$4,843,351
80$6,472,593$1,717,327$1,019,523$5,195,071
81$7,023,306$1,691,985$944,185$5,580,362
82$7,626,742$1,661,951$862,874$6,002,652
83$8,288,172$1,626,888$775,282$6,465,724
84$9,013,397$1,586,437$681,086$6,973,751
85$9,808,810$1,540,219$579,948$7,531,331
86$10,681,450$1,487,832$471,519$8,143,539
87$11,639,073$1,428,850$355,429$8,815,971
88$12,690,218$1,362,824$231,296$9,554,795
89$13,844,295$1,289,277$98,719$10,366,815
90$15,111,668$1,207,706$0$11,259,533
91$16,503,753$1,117,578$0$12,252,631
92$18,033,128$1,018,332$0$13,372,665
93$19,713,648$909,371$0$14,603,453
94$21,560,576$790,066$0$15,956,213
95$23,590,730$659,755$0$17,443,304
96$25,822,635$517,733$0$19,078,344
97$28,276,702$363,261$0$20,876,340
98$30,975,419$195,554$0$22,853,830
99$33,943,562$13,786$0$25,029,036
100$37,208,428$0$0$27,422,039