Can I retire at age 62 with 1,650,000?

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 $1,650,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.9%
1 years$136,255$135,042$133,858$132,702$131,573$129,447
2 years$67,453$66,197$64,979$63,799$62,654$60,517
3 years$44,522$43,260$42,046$40,877$39,750$37,670
4 years$33,059$31,801$30,599$29,449$28,350$26,343
5 years$26,183$24,932$23,746$22,620$21,551$19,622
6 years$21,600$20,359$19,190$18,089$17,053$15,204
7 years$18,328$17,098$15,947$14,872$13,869$12,101
8 years$15,875$14,656$13,524$12,476$11,505$9,818
9 years$13,968$12,761$11,649$10,627$9,689$8,082
10 years$12,444$11,248$10,156$9,160$8,256$6,727
11 years$11,197$10,013$8,941$7,972$7,100$5,648
12 years$10,159$8,987$7,935$6,993$6,153$4,776
13 years$9,281$8,122$7,089$6,174$5,365$4,062
14 years$8,530$7,383$6,370$5,480$4,703$3,470
15 years$7,879$6,744$5,751$4,887$4,141$2,977
16 years$7,310$6,188$5,214$4,376$3,660$2,562
17 years$6,809$5,699$4,745$3,932$3,245$2,211
18 years$6,363$5,266$4,331$3,543$2,885$1,912
19 years$5,966$4,880$3,965$3,202$2,572$1,657
20 years$5,608$4,535$3,639$2,900$2,297$1,439
21 years$5,285$4,224$3,347$2,632$2,056$1,251
22 years$4,991$3,943$3,085$2,393$1,843$1,089
23 years$4,724$3,688$2,848$2,179$1,654$949
24 years$4,479$3,455$2,634$1,988$1,487$828
25 years$4,254$3,243$2,440$1,815$1,338$723
26 years$4,047$3,048$2,263$1,660$1,205$632
27 years$3,855$2,868$2,101$1,519$1,086$552
28 years$3,677$2,703$1,953$1,392$980$483
29 years$3,512$2,550$1,818$1,276$885$423
30 years$3,359$2,408$1,693$1,171$800$370
31 years$3,215$2,276$1,578$1,076$723$324
32 years$3,081$2,154$1,473$989$654$284
33 years$2,955$2,040$1,375$909$592$249
34 years$2,837$1,933$1,285$837$536$218
35 years$2,725$1,834$1,201$770$485$191
36 years$2,621$1,740$1,124$709$440$168
37 years$2,522$1,653$1,052$653$399$147
38 years$2,428$1,571$985$602$361$129
39 years$2,340$1,494$923$555$328$113
40 years$2,256$1,421$865$512$297$99
41 years$2,176$1,353$811$473$270$87
42 years$2,101$1,288$761$436$245$76
43 years$2,029$1,228$714$403$222$67
44 years$1,960$1,170$670$372$202$59
45 years$1,895$1,116$629$343$183$52
46 years$1,833$1,064$591$317$166$45
47 years$1,774$1,016$555$293$151$40
48 years$1,717$970$522$271$137$35
49 years$1,663$926$490$250$124$31
50 years$1,611$885$461$231$113$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,650,000, adding $4,588 every year, while hoping to spend $55,035 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: 35/49/16 Blend
61$1,650,000$1,650,000$1,650,000$1,650,000
62$1,823,033$1,735,583$1,710,008$1,877,709
63$1,950,425$1,762,069$1,708,736$1,944,367
64$2,088,967$1,788,009$1,705,577$2,010,734
65$2,239,738$1,813,318$1,700,410$2,081,164
66$2,403,924$1,837,904$1,693,107$2,156,049
67$2,582,834$1,861,670$1,683,535$2,235,819
68$2,777,904$1,884,513$1,671,555$2,320,954
69$2,990,717$1,906,321$1,657,019$2,411,982
70$3,223,015$1,926,976$1,639,774$2,509,489
71$3,476,716$1,946,351$1,619,660$2,614,123
72$3,753,930$1,964,311$1,596,508$2,726,602
73$4,056,982$1,980,714$1,570,142$2,847,719
74$4,388,430$1,995,404$1,540,377$2,978,351
75$4,751,091$2,008,220$1,507,021$3,119,470
76$5,148,067$2,018,988$1,469,871$3,272,150
77$5,582,775$2,027,523$1,428,716$3,437,578
78$6,058,975$2,033,629$1,383,336$3,617,068
79$6,580,810$2,037,097$1,333,497$3,812,072
80$7,152,843$2,037,704$1,278,960$4,024,196
81$7,780,098$2,035,217$1,219,470$4,255,216
82$8,468,109$2,029,384$1,154,764$4,507,094
83$9,222,973$2,019,941$1,084,565$4,781,999
84$10,051,403$2,006,604$1,008,584$5,082,329
85$10,960,795$1,989,077$926,521$5,410,732
86$11,959,296$1,967,041$838,059$5,770,136
87$13,055,879$1,940,161$742,869$6,163,776
88$14,260,431$1,908,082$640,607$6,595,226
89$15,583,842$1,870,425$530,915$7,068,431
90$17,038,110$1,826,792$413,416$7,587,754
91$18,636,452$1,776,759$287,720$8,158,009
92$20,393,428$1,719,879$153,418$8,784,516
93$22,325,083$1,655,678$10,082$9,473,148
94$24,449,089$1,583,653$0$10,230,391
95$26,784,919$1,503,276$0$11,087,799
96$29,354,028$1,413,983$0$12,032,308
97$32,180,053$1,315,183$0$13,071,006
98$35,289,038$1,206,246$0$14,213,616
99$38,709,678$1,086,510$0$15,470,864
100$42,473,589$955,273$0$16,854,582