Can I retire at age 62 with 1,630,000?

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 $1,630,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.3%
1 years$134,604$133,405$132,235$131,093$129,978$125,118
2 years$66,636$65,395$64,192$63,026$61,895$57,053
3 years$43,982$42,736$41,536$40,381$39,268$34,599
4 years$32,658$31,416$30,228$29,092$28,007$23,544
5 years$25,865$24,630$23,458$22,346$21,290$17,046
6 years$21,338$20,112$18,958$17,870$16,846$12,824
7 years$18,106$16,890$15,754$14,692$13,700$9,899
8 years$15,683$14,478$13,361$12,325$11,366$7,782
9 years$13,799$12,606$11,507$10,498$9,572$6,199
10 years$12,293$11,111$10,032$9,049$8,156$4,989
11 years$11,061$9,892$8,832$7,876$7,014$4,047
12 years$10,036$8,878$7,839$6,908$6,078$3,303
13 years$9,169$8,023$7,003$6,099$5,300$2,708
14 years$8,426$7,293$6,292$5,414$4,646$2,230
15 years$7,784$6,662$5,681$4,828$4,091$1,842
16 years$7,222$6,113$5,151$4,323$3,616$1,525
17 years$6,726$5,629$4,687$3,884$3,206$1,265
18 years$6,286$5,202$4,279$3,500$2,850$1,052
19 years$5,893$4,821$3,917$3,163$2,541$875
20 years$5,540$4,480$3,595$2,865$2,269$729
21 years$5,221$4,173$3,306$2,600$2,031$608
22 years$4,931$3,895$3,047$2,364$1,820$508
23 years$4,666$3,643$2,814$2,153$1,634$424
24 years$4,425$3,413$2,602$1,964$1,469$355
25 years$4,202$3,203$2,410$1,793$1,322$297
26 years$3,998$3,011$2,235$1,640$1,190$248
27 years$3,808$2,833$2,076$1,501$1,073$208
28 years$3,633$2,670$1,930$1,375$968$174
29 years$3,470$2,519$1,796$1,261$875$146
30 years$3,318$2,379$1,673$1,157$790$122
31 years$3,176$2,249$1,559$1,063$714$102
32 years$3,043$2,128$1,455$977$646$85
33 years$2,919$2,015$1,358$898$585$72
34 years$2,802$1,910$1,269$826$529$60
35 years$2,692$1,811$1,187$761$480$50
36 years$2,589$1,719$1,110$701$435$42
37 years$2,491$1,633$1,039$646$394$35
38 years$2,399$1,552$973$595$357$30
39 years$2,311$1,476$912$549$324$25
40 years$2,228$1,404$854$506$294$21
41 years$2,150$1,336$801$467$266$17
42 years$2,075$1,273$752$431$242$15
43 years$2,004$1,213$705$398$219$12
44 years$1,937$1,156$662$367$199$10
45 years$1,872$1,102$622$339$181$9
46 years$1,811$1,052$584$313$164$7
47 years$1,752$1,003$548$289$149$6
48 years$1,696$958$515$267$135$5
49 years$1,643$915$484$247$123$4
50 years$1,591$874$455$228$112$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,630,000, adding $4,636 every year, while hoping to spend $58,508 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: 60/12/28 Blend
61$1,630,000$1,630,000$1,630,000$1,630,000
62$1,801,042$1,714,652$1,689,387$1,895,199
63$1,922,496$1,736,418$1,683,729$1,981,732
64$2,054,378$1,757,289$1,675,921$2,069,450
65$2,197,689$1,777,161$1,665,829$2,163,943
66$2,353,531$1,795,920$1,653,312$2,265,884
67$2,523,117$1,813,445$1,638,224$2,376,019
68$2,707,780$1,829,610$1,620,410$2,495,168
69$2,908,990$1,844,277$1,599,710$2,624,239
70$3,128,361$1,857,300$1,575,954$2,764,233
71$3,367,671$1,868,526$1,548,966$2,916,254
72$3,628,878$1,877,788$1,518,561$3,081,523
73$3,914,136$1,884,911$1,484,545$3,261,387
74$4,225,815$1,889,710$1,446,715$3,457,331
75$4,566,528$1,891,986$1,404,860$3,670,996
76$4,939,149$1,891,528$1,358,757$3,904,192
77$5,346,842$1,888,113$1,308,176$4,158,916
78$5,793,093$1,881,503$1,252,873$4,437,372
79$6,281,739$1,871,447$1,192,594$4,741,995
80$6,817,006$1,857,678$1,127,076$5,075,466
81$7,403,548$1,839,911$1,056,040$5,440,749
82$8,046,490$1,817,847$979,198$5,841,111
83$8,751,478$1,791,167$896,246$6,280,156
84$9,524,728$1,759,533$806,869$6,761,861
85$10,373,088$1,722,589$710,738$7,290,615
86$11,304,101$1,679,954$607,506$7,871,258
87$12,326,076$1,631,228$496,814$8,509,128
88$13,448,164$1,575,987$378,286$9,210,115
89$14,680,448$1,513,781$251,529$9,980,715
90$16,034,033$1,444,135$116,134$10,828,093
91$17,521,152$1,366,546$0$11,760,152
92$19,155,285$1,280,482$0$12,794,080
93$20,951,279$1,185,381$0$13,968,593
94$22,925,493$1,080,647$0$15,259,701
95$25,095,947$965,653$0$16,679,238
96$27,482,498$839,734$0$18,240,248
97$30,107,019$702,188$0$19,957,105
98$32,993,613$552,274$0$21,845,652
99$36,168,834$389,207$0$23,923,344
100$39,661,938$212,161$0$26,209,423