Can I retire at age 62 with 1,660,000?

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 $1,660,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$137,081$135,860$134,669$133,506$132,371$131,316
2 years$67,862$66,598$65,373$64,186$63,034$61,971
3 years$44,792$43,523$42,301$41,124$39,991$38,953
4 years$33,259$31,994$30,784$29,628$28,522$27,516
5 years$26,341$25,083$23,890$22,757$21,682$20,712
6 years$21,731$20,483$19,306$18,199$17,156$16,222
7 years$18,439$17,201$16,044$14,962$13,953$13,056
8 years$15,971$14,745$13,606$12,552$11,575$10,715
9 years$14,053$12,838$11,719$10,691$9,748$8,925
10 years$12,519$11,316$10,217$9,216$8,306$7,519
11 years$11,265$10,074$8,995$8,021$7,143$6,392
12 years$10,221$9,042$7,983$7,035$6,190$5,475
13 years$9,338$8,171$7,132$6,211$5,398$4,717
14 years$8,582$7,427$6,408$5,513$4,732$4,084
15 years$7,927$6,785$5,786$4,917$4,166$3,551
16 years$7,354$6,225$5,246$4,403$3,682$3,098
17 years$6,850$5,733$4,773$3,956$3,265$2,712
18 years$6,402$5,298$4,357$3,565$2,903$2,379
19 years$6,002$4,910$3,989$3,221$2,587$2,093
20 years$5,642$4,562$3,661$2,917$2,311$1,844
21 years$5,317$4,250$3,367$2,648$2,068$1,627
22 years$5,021$3,967$3,104$2,407$1,854$1,438
23 years$4,752$3,710$2,866$2,192$1,664$1,273
24 years$4,506$3,476$2,650$2,000$1,496$1,128
25 years$4,280$3,262$2,455$1,826$1,346$1,000
26 years$4,071$3,066$2,276$1,670$1,212$888
27 years$3,878$2,885$2,114$1,528$1,093$789
28 years$3,700$2,719$1,965$1,400$986$701
29 years$3,534$2,565$1,829$1,284$891$623
30 years$3,379$2,422$1,703$1,179$805$555
31 years$3,235$2,290$1,588$1,082$728$494
32 years$3,099$2,167$1,482$995$658$440
33 years$2,973$2,052$1,383$915$596$392
34 years$2,854$1,945$1,293$842$539$349
35 years$2,742$1,845$1,208$775$488$311
36 years$2,636$1,751$1,131$714$443$278
37 years$2,537$1,663$1,058$657$401$248
38 years$2,443$1,580$991$606$364$221
39 years$2,354$1,503$928$559$330$197
40 years$2,269$1,430$870$515$299$176
41 years$2,189$1,361$816$475$271$157
42 years$2,113$1,296$765$439$246$140
43 years$2,041$1,235$718$405$223$125
44 years$1,972$1,177$674$374$203$112
45 years$1,907$1,123$633$345$184$100
46 years$1,844$1,071$595$319$167$89
47 years$1,785$1,022$559$295$152$80
48 years$1,727$976$525$272$138$71
49 years$1,673$932$493$252$125$64
50 years$1,621$890$464$233$114$57

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,660,000, adding $5,896 every year, while hoping to spend $59,383 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: 82/5/13 Blend
61$1,660,000$1,660,000$1,660,000$1,660,000
62$1,835,402$1,747,422$1,721,692$1,980,963
63$1,959,430$1,769,862$1,716,185$2,099,741
64$2,094,118$1,791,412$1,708,504$2,221,729
65$2,240,492$1,811,965$1,698,513$2,353,920
66$2,399,678$1,831,408$1,686,069$2,497,306
67$2,572,917$1,849,618$1,671,024$2,652,983
68$2,761,573$1,866,468$1,653,222$2,822,156
69$2,967,148$1,881,820$1,632,500$3,006,153
70$3,191,295$1,895,526$1,608,686$3,206,437
71$3,435,831$1,907,431$1,581,601$3,424,619
72$3,702,759$1,917,369$1,551,058$3,662,474
73$3,994,283$1,925,163$1,516,861$3,921,959
74$4,312,829$1,930,624$1,478,804$4,205,229
75$4,661,067$1,933,554$1,436,674$4,514,656
76$5,041,937$1,933,739$1,390,244$4,852,859
77$5,458,677$1,930,956$1,339,280$5,222,718
78$5,914,853$1,924,963$1,283,536$5,627,411
79$6,414,389$1,915,507$1,222,756$6,070,436
80$6,961,609$1,902,319$1,156,670$6,555,651
81$7,561,273$1,885,113$1,084,999$7,087,305
82$8,218,625$1,863,586$1,007,448$7,670,081
83$8,939,439$1,837,416$923,712$8,309,139
84$9,730,076$1,806,263$833,470$9,010,165
85$10,597,539$1,769,766$736,387$9,779,428
86$11,549,547$1,727,542$632,115$10,623,832
87$12,594,597$1,679,189$520,287$11,550,988
88$13,742,053$1,624,276$400,524$12,569,283
89$15,002,228$1,562,351$272,427$13,687,960
90$16,386,484$1,492,934$135,582$14,917,205
91$17,907,335$1,415,518$0$16,268,243
92$19,578,570$1,329,565$0$17,754,895
93$21,415,378$1,234,508$0$19,409,508
94$23,434,495$1,129,747$0$21,228,346
95$25,654,356$1,014,647$0$23,228,035
96$28,095,273$888,538$0$25,426,896
97$30,779,626$750,711$0$27,845,112
98$33,732,069$600,418$0$30,504,924
99$36,979,769$436,867$0$33,430,838
100$40,552,655$259,223$0$36,649,857