Can I retire at age 62 with 1,680,000?

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 $1,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$138,733$137,497$136,291$135,115$133,966$131,422
2 years$68,680$67,401$66,161$64,959$63,793$61,240
3 years$45,332$44,047$42,810$41,620$40,473$37,991
4 years$33,660$32,379$31,155$29,985$28,866$26,473
5 years$26,659$25,386$24,178$23,031$21,943$19,647
6 years$21,993$20,729$19,539$18,418$17,363$15,166
7 years$18,661$17,408$16,237$15,143$14,121$12,023
8 years$16,164$14,922$13,770$12,703$11,714$9,716
9 years$14,222$12,993$11,860$10,820$9,865$7,964
10 years$12,670$11,452$10,340$9,327$8,406$6,600
11 years$11,401$10,195$9,103$8,117$7,229$5,518
12 years$10,344$9,151$8,079$7,120$6,265$4,645
13 years$9,450$8,270$7,218$6,286$5,463$3,932
14 years$8,685$7,517$6,485$5,580$4,789$3,343
15 years$8,022$6,867$5,855$4,976$4,216$2,854
16 years$7,443$6,300$5,309$4,456$3,726$2,444
17 years$6,932$5,802$4,831$4,003$3,304$2,099
18 years$6,479$5,361$4,410$3,608$2,938$1,806
19 years$6,074$4,969$4,037$3,260$2,619$1,557
20 years$5,710$4,617$3,705$2,953$2,339$1,345
21 years$5,381$4,301$3,408$2,680$2,093$1,163
22 years$5,082$4,015$3,141$2,436$1,876$1,007
23 years$4,810$3,755$2,900$2,219$1,684$873
24 years$4,560$3,518$2,682$2,024$1,514$758
25 years$4,331$3,302$2,484$1,848$1,362$658
26 years$4,120$3,103$2,304$1,690$1,227$571
27 years$3,925$2,920$2,139$1,547$1,106$497
28 years$3,744$2,752$1,989$1,417$998$432
29 years$3,576$2,596$1,851$1,300$901$376
30 years$3,420$2,452$1,724$1,193$814$327
31 years$3,274$2,318$1,607$1,095$736$285
32 years$3,137$2,193$1,500$1,007$666$248
33 years$3,009$2,077$1,400$926$603$216
34 years$2,888$1,968$1,308$852$546$188
35 years$2,775$1,867$1,223$784$494$164
36 years$2,668$1,772$1,144$722$448$143
37 years$2,567$1,683$1,071$665$406$125
38 years$2,472$1,599$1,003$613$368$109
39 years$2,382$1,521$940$565$334$95
40 years$2,297$1,447$881$522$303$83
41 years$2,216$1,377$826$481$275$72
42 years$2,139$1,312$775$444$249$63
43 years$2,066$1,250$727$410$226$55
44 years$1,996$1,191$682$379$205$48
45 years$1,930$1,136$641$350$186$42
46 years$1,866$1,084$602$323$169$36
47 years$1,806$1,034$565$298$154$32
48 years$1,748$987$531$276$140$28
49 years$1,693$943$499$255$127$24
50 years$1,640$901$469$235$115$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,680,000, adding $4,912 every year, while hoping to spend $32,639 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: 80/9/11 Blend
61$1,680,000$1,680,000$1,680,000$1,680,000
62$1,856,427$1,767,387$1,741,347$2,000,995
63$2,011,055$1,819,261$1,764,954$2,148,466
64$2,180,361$1,872,583$1,788,259$2,305,508
65$2,365,807$1,927,390$1,811,215$2,476,883
66$2,569,006$1,983,718$1,833,777$2,664,010
67$2,791,730$2,041,606$1,855,894$2,868,451
68$3,035,934$2,101,092$1,877,514$3,091,926
69$3,303,769$2,162,215$1,898,580$3,336,329
70$3,597,605$2,225,016$1,919,035$3,603,748
71$3,920,054$2,289,534$1,938,815$3,896,481
72$4,273,990$2,355,812$1,957,857$4,217,059
73$4,662,582$2,423,892$1,976,090$4,568,271
74$5,089,319$2,493,816$1,993,442$4,953,190
75$5,558,043$2,565,627$2,009,836$5,375,200
76$6,072,991$2,639,370$2,025,193$5,838,028
77$6,638,826$2,715,089$2,039,427$6,345,782
78$7,260,688$2,792,830$2,052,450$6,902,987
79$7,944,238$2,872,639$2,064,166$7,514,627
80$8,695,713$2,954,561$2,074,479$8,186,195
81$9,521,985$3,038,643$2,083,283$8,923,742
82$10,430,625$3,124,935$2,090,471$9,733,934
83$11,429,975$3,213,482$2,095,927$10,624,118
84$12,529,224$3,304,334$2,099,532$11,602,385
85$13,738,498$3,397,540$2,101,160$12,677,654
86$15,068,954$3,493,149$2,100,678$13,859,750
87$16,532,884$3,591,210$2,097,947$15,159,499
88$18,143,832$3,691,773$2,092,823$16,588,828
89$19,916,721$3,794,888$2,085,151$18,160,884
90$21,867,995$3,900,607$2,074,772$19,890,148
91$24,015,772$4,008,978$2,061,518$21,792,579
92$26,380,015$4,120,052$2,045,213$23,885,763
93$28,982,722$4,233,880$2,025,673$26,189,075
94$31,848,132$4,350,511$2,002,705$28,723,869
95$35,002,952$4,469,997$1,976,106$31,513,672
96$38,476,612$4,592,386$1,945,665$34,584,409
97$42,301,542$4,717,728$1,911,160$37,964,651
98$46,513,474$4,846,072$1,872,359$41,685,878
99$51,151,784$4,977,466$1,829,019$45,782,781
100$56,259,861$5,111,956$1,780,886$50,293,587