Can I retire at age 62 with 1,620,000?

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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$133,778$132,586$131,424$130,289$129,181$124,007
2 years$66,227$64,993$63,798$62,639$61,515$56,367
3 years$43,713$42,474$41,282$40,133$39,028$34,068
4 years$32,458$31,223$30,042$28,914$27,835$23,101
5 years$25,707$24,479$23,314$22,209$21,160$16,664
6 years$21,207$19,989$18,841$17,760$16,743$12,488
7 years$17,995$16,787$15,657$14,602$13,616$9,601
8 years$15,586$14,389$13,279$12,249$11,296$7,516
9 years$13,714$12,528$11,437$10,434$9,513$5,962
10 years$12,217$11,043$9,971$8,994$8,106$4,777
11 years$10,994$9,831$8,778$7,827$6,971$3,857
12 years$9,974$8,824$7,790$6,866$6,041$3,133
13 years$9,113$7,974$6,960$6,061$5,268$2,557
14 years$8,375$7,248$6,254$5,381$4,618$2,095
15 years$7,736$6,622$5,646$4,798$4,066$1,721
16 years$7,177$6,075$5,119$4,297$3,593$1,418
17 years$6,685$5,595$4,658$3,860$3,186$1,171
18 years$6,248$5,170$4,252$3,479$2,833$968
19 years$5,857$4,791$3,893$3,144$2,525$801
20 years$5,506$4,452$3,573$2,847$2,255$664
21 years$5,189$4,147$3,286$2,584$2,018$551
22 years$4,900$3,871$3,029$2,349$1,809$458
23 years$4,638$3,621$2,797$2,140$1,624$380
24 years$4,397$3,392$2,586$1,951$1,460$316
25 years$4,177$3,184$2,395$1,782$1,314$263
26 years$3,973$2,992$2,222$1,630$1,183$219
27 years$3,785$2,816$2,063$1,492$1,067$182
28 years$3,611$2,653$1,918$1,367$963$151
29 years$3,449$2,503$1,785$1,253$869$126
30 years$3,298$2,364$1,662$1,150$785$105
31 years$3,157$2,235$1,550$1,056$710$87
32 years$3,025$2,115$1,446$971$642$73
33 years$2,901$2,003$1,350$893$581$61
34 years$2,785$1,898$1,261$821$526$50
35 years$2,676$1,800$1,179$756$477$42
36 years$2,573$1,709$1,103$696$432$35
37 years$2,476$1,623$1,033$642$391$29
38 years$2,384$1,542$967$591$355$24
39 years$2,297$1,467$906$545$322$20
40 years$2,215$1,395$849$503$292$17
41 years$2,137$1,328$796$464$265$14
42 years$2,062$1,265$747$428$240$12
43 years$1,992$1,205$701$395$218$10
44 years$1,925$1,149$658$365$198$8
45 years$1,861$1,095$618$337$180$7
46 years$1,800$1,045$580$311$163$6
47 years$1,742$997$545$288$148$5
48 years$1,686$952$512$266$135$4
49 years$1,633$909$481$246$122$3
50 years$1,582$868$453$227$111$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,620,000, adding $2,275 every year, while hoping to spend $25,554 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: 57/37/6 Blend
61$1,620,000$1,620,000$1,620,000$1,620,000
62$1,787,587$1,701,727$1,676,617$1,887,129
63$1,942,731$1,757,922$1,705,594$2,010,502
64$2,112,844$1,816,014$1,734,686$2,141,775
65$2,299,425$1,876,070$1,763,869$2,284,162
66$2,504,126$1,938,157$1,793,118$2,438,726
67$2,728,766$2,002,346$1,822,407$2,606,635
68$2,975,351$2,068,711$1,851,707$2,789,175
69$3,246,086$2,137,328$1,880,989$2,987,762
70$3,543,405$2,208,275$1,910,221$3,203,950
71$3,869,987$2,281,635$1,939,367$3,439,452
72$4,228,782$2,357,492$1,968,393$3,696,154
73$4,623,042$2,435,933$1,997,258$3,976,129
74$5,056,349$2,517,050$2,025,923$4,281,659
75$5,532,648$2,600,937$2,054,343$4,615,257
76$6,056,287$2,687,692$2,082,472$4,979,690
77$6,632,056$2,777,417$2,110,263$5,378,001
78$7,265,231$2,870,215$2,137,662$5,813,544
79$7,961,626$2,966,197$2,164,615$6,290,009
80$8,727,646$3,065,475$2,191,064$6,811,460
81$9,570,350$3,168,167$2,216,948$7,382,373
82$10,497,512$3,274,394$2,242,203$8,007,674
83$11,517,701$3,384,283$2,266,759$8,692,790
84$12,640,357$3,497,963$2,290,546$9,443,697
85$13,875,881$3,615,571$2,313,487$10,266,978
86$15,235,734$3,737,247$2,335,502$11,169,880
87$16,732,544$3,863,137$2,356,507$12,160,387
88$18,380,226$3,993,393$2,376,412$13,247,294
89$20,194,112$4,128,172$2,395,125$14,440,286
90$22,191,096$4,267,637$2,412,546$15,750,033
91$24,389,794$4,411,958$2,428,572$17,188,286
92$26,810,718$4,561,308$2,443,094$18,767,993
93$29,476,470$4,715,872$2,455,997$20,503,415
94$32,411,958$4,875,837$2,467,161$22,410,262
95$35,644,626$5,041,401$2,476,459$24,505,842
96$39,204,715$5,212,767$2,483,758$26,809,222
97$43,125,550$5,390,147$2,488,917$29,341,408
98$47,443,851$5,573,759$2,491,792$32,125,542
99$52,200,084$5,763,833$2,492,226$35,187,121
100$57,438,836$5,960,605$2,490,060$38,554,234