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

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 $1,620,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.8%
1 years$133,778$132,586$131,424$130,289$129,181$124,105
2 years$66,227$64,993$63,798$62,639$61,515$56,463
3 years$43,713$42,474$41,282$40,133$39,028$34,158
4 years$32,458$31,223$30,042$28,914$27,835$23,186
5 years$25,707$24,479$23,314$22,209$21,160$16,743
6 years$21,207$19,989$18,841$17,760$16,743$12,561
7 years$17,995$16,787$15,657$14,602$13,616$9,668
8 years$15,586$14,389$13,279$12,249$11,296$7,578
9 years$13,714$12,528$11,437$10,434$9,513$6,018
10 years$12,217$11,043$9,971$8,994$8,106$4,828
11 years$10,994$9,831$8,778$7,827$6,971$3,904
12 years$9,974$8,824$7,790$6,866$6,041$3,175
13 years$9,113$7,974$6,960$6,061$5,268$2,595
14 years$8,375$7,248$6,254$5,381$4,618$2,129
15 years$7,736$6,622$5,646$4,798$4,066$1,752
16 years$7,177$6,075$5,119$4,297$3,593$1,445
17 years$6,685$5,595$4,658$3,860$3,186$1,195
18 years$6,248$5,170$4,252$3,479$2,833$989
19 years$5,857$4,791$3,893$3,144$2,525$820
20 years$5,506$4,452$3,573$2,847$2,255$681
21 years$5,189$4,147$3,286$2,584$2,018$566
22 years$4,900$3,871$3,029$2,349$1,809$471
23 years$4,638$3,621$2,797$2,140$1,624$392
24 years$4,397$3,392$2,586$1,951$1,460$326
25 years$4,177$3,184$2,395$1,782$1,314$272
26 years$3,973$2,992$2,222$1,630$1,183$226
27 years$3,785$2,816$2,063$1,492$1,067$189
28 years$3,611$2,653$1,918$1,367$963$157
29 years$3,449$2,503$1,785$1,253$869$131
30 years$3,298$2,364$1,662$1,150$785$109
31 years$3,157$2,235$1,550$1,056$710$91
32 years$3,025$2,115$1,446$971$642$76
33 years$2,901$2,003$1,350$893$581$63
34 years$2,785$1,898$1,261$821$526$53
35 years$2,676$1,800$1,179$756$477$44
36 years$2,573$1,709$1,103$696$432$37
37 years$2,476$1,623$1,033$642$391$31
38 years$2,384$1,542$967$591$355$26
39 years$2,297$1,467$906$545$322$21
40 years$2,215$1,395$849$503$292$18
41 years$2,137$1,328$796$464$265$15
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$9
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$4
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 $4,589 every year, while hoping to spend $49,363 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: 75/13/12 Blend
61$1,620,000$1,620,000$1,620,000$1,620,000
62$1,789,974$1,704,114$1,679,004$1,919,622
63$1,920,029$1,735,093$1,682,728$2,036,774
64$2,061,696$1,765,937$1,684,923$2,158,484
65$2,216,106$1,796,585$1,685,486$2,290,501
66$2,384,505$1,826,974$1,684,306$2,433,834
67$2,568,266$1,857,037$1,681,271$2,589,594
68$2,768,897$1,886,700$1,676,262$2,759,002
69$2,988,061$1,915,884$1,669,153$2,943,407
70$3,227,587$1,944,506$1,659,813$3,144,293
71$3,489,488$1,972,475$1,648,105$3,363,295
72$3,775,984$1,999,693$1,633,884$3,602,216
73$4,089,514$2,026,059$1,616,999$3,863,040
74$4,432,769$2,051,460$1,597,293$4,147,956
75$4,808,709$2,075,779$1,574,599$4,459,375
76$5,220,594$2,098,889$1,548,745$4,799,951
77$5,672,015$2,120,655$1,519,549$5,172,614
78$6,166,928$2,140,934$1,486,821$5,580,587
79$6,709,687$2,159,572$1,450,362$6,027,426
80$7,305,090$2,176,406$1,409,964$6,517,049
81$7,958,421$2,191,262$1,365,410$7,053,771
82$8,675,500$2,203,954$1,316,471$7,642,350
83$9,462,739$2,214,286$1,262,911$8,288,028
84$10,327,201$2,222,048$1,204,481$8,996,585
85$11,276,664$2,227,017$1,140,920$9,774,387
86$12,319,699$2,228,956$1,071,956$10,628,451
87$13,465,747$2,227,614$997,305$11,566,512
88$14,725,210$2,222,724$916,672$12,597,094
89$16,109,545$2,214,001$829,744$13,729,589
90$17,631,377$2,201,146$736,199$14,974,350
91$19,304,614$2,183,838$635,698$16,342,788
92$21,144,578$2,161,740$527,887$17,847,477
93$23,168,152$2,134,492$412,398$19,502,276
94$25,393,935$2,101,714$288,846$21,322,457
95$27,842,422$2,063,003$156,827$23,324,855
96$30,536,190$2,017,931$15,922$25,528,021
97$33,500,119$1,966,047$0$27,952,401
98$36,761,619$1,906,872$0$30,637,744
99$40,350,894$1,839,898$0$33,594,964
100$44,301,222$1,764,590$0$36,849,453