Can I retire at age 62 with 1,590,000?

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 $1,590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$131,301$130,131$128,990$127,876$126,789$124,229
2 years$65,000$63,790$62,617$61,479$60,376$57,808
3 years$42,903$41,687$40,517$39,390$38,305$35,809
4 years$31,857$30,645$29,486$28,378$27,319$24,915
5 years$25,231$24,026$22,882$21,797$20,768$18,462
6 years$20,815$19,619$18,492$17,432$16,433$14,227
7 years$17,662$16,476$15,367$14,331$13,364$11,260
8 years$15,298$14,123$13,033$12,022$11,087$9,083
9 years$13,460$12,296$11,225$10,240$9,337$7,432
10 years$11,991$10,839$9,786$8,827$7,955$6,148
11 years$10,790$9,649$8,616$7,682$6,842$5,130
12 years$9,790$8,661$7,646$6,738$5,929$4,310
13 years$8,944$7,827$6,831$5,949$5,170$3,641
14 years$8,220$7,114$6,138$5,281$4,532$3,090
15 years$7,593$6,499$5,542$4,710$3,991$2,632
16 years$7,044$5,963$5,024$4,217$3,527$2,250
17 years$6,561$5,491$4,572$3,789$3,127$1,927
18 years$6,132$5,074$4,174$3,415$2,781$1,655
19 years$5,749$4,703$3,821$3,085$2,478$1,424
20 years$5,404$4,370$3,507$2,794$2,214$1,227
21 years$5,092$4,071$3,225$2,536$1,981$1,059
22 years$4,810$3,800$2,973$2,306$1,776$915
23 years$4,552$3,554$2,745$2,100$1,594$791
24 years$4,316$3,330$2,538$1,915$1,433$685
25 years$4,099$3,125$2,351$1,749$1,289$593
26 years$3,900$2,937$2,180$1,599$1,161$514
27 years$3,715$2,764$2,025$1,464$1,047$446
28 years$3,544$2,604$1,882$1,341$945$387
29 years$3,385$2,457$1,752$1,230$853$336
30 years$3,237$2,320$1,632$1,129$771$291
31 years$3,098$2,193$1,521$1,037$697$253
32 years$2,969$2,075$1,419$953$630$220
33 years$2,847$1,965$1,325$876$570$191
34 years$2,734$1,863$1,238$806$517$166
35 years$2,626$1,767$1,158$742$468$144
36 years$2,525$1,677$1,083$683$424$126
37 years$2,430$1,593$1,014$630$384$109
38 years$2,340$1,514$949$580$348$95
39 years$2,255$1,439$889$535$316$83
40 years$2,174$1,369$833$494$286$72
41 years$2,097$1,304$782$455$260$62
42 years$2,024$1,241$733$420$236$54
43 years$1,955$1,183$688$388$214$47
44 years$1,889$1,128$646$358$194$41
45 years$1,826$1,075$606$331$176$36
46 years$1,766$1,026$569$306$160$31
47 years$1,709$979$535$282$145$27
48 years$1,655$934$503$261$132$24
49 years$1,602$892$473$241$120$21
50 years$1,552$852$444$223$109$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,590,000, adding $4,005 every year, while hoping to spend $22,369 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: 55/39/6 Blend
61$1,590,000$1,590,000$1,590,000$1,590,000
62$1,756,311$1,672,041$1,647,396$1,850,385
63$1,911,654$1,730,171$1,678,783$1,972,423
64$2,082,093$1,790,399$1,710,473$2,102,389
65$2,269,143$1,852,805$1,742,450$2,243,333
66$2,474,474$1,917,471$1,774,701$2,396,302
67$2,699,927$1,984,483$1,807,209$2,562,443
68$2,947,527$2,053,930$1,839,958$2,743,021
69$3,219,506$2,125,905$1,872,928$2,939,426
70$3,518,325$2,200,503$1,906,100$3,153,185
71$3,846,691$2,277,825$1,939,452$3,385,981
72$4,207,590$2,357,975$1,972,960$3,639,664
73$4,604,309$2,441,061$2,006,599$3,916,270
74$5,040,472$2,527,196$2,040,344$4,218,038
75$5,520,068$2,616,497$2,074,164$4,547,434
76$6,047,496$2,709,086$2,108,029$4,907,171
77$6,627,600$2,805,090$2,141,906$5,300,235
78$7,265,716$2,904,640$2,175,762$5,729,913
79$7,967,727$3,007,875$2,209,557$6,199,824
80$8,740,111$3,114,937$2,243,254$6,713,951
81$9,590,008$3,225,975$2,276,809$7,276,679
82$10,525,285$3,341,144$2,310,177$7,892,838
83$11,554,608$3,460,604$2,343,313$8,567,742
84$12,687,528$3,584,524$2,376,164$9,307,246
85$13,934,568$3,713,078$2,408,677$10,117,797
86$15,307,323$3,846,447$2,440,797$11,006,493
87$16,818,569$3,984,822$2,472,463$11,981,152
88$18,482,384$4,128,399$2,503,611$13,050,382
89$20,314,280$4,277,384$2,534,175$14,223,666
90$22,331,351$4,431,989$2,564,083$15,511,448
91$24,552,430$4,592,439$2,593,262$16,925,228
92$26,998,273$4,758,963$2,621,631$18,477,678
93$29,691,749$4,931,804$2,649,108$20,182,751
94$32,658,058$5,111,214$2,675,604$22,055,819
95$35,924,971$5,297,454$2,701,027$24,113,815
96$39,523,085$5,490,797$2,725,280$26,375,391
97$43,486,121$5,691,527$2,748,258$28,861,094
98$47,851,235$5,899,941$2,769,854$31,593,559
99$52,659,371$6,116,348$2,789,953$34,597,722
100$57,955,646$6,341,069$2,808,437$37,901,053