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%11.5%
1 years$138,733$137,497$136,291$135,115$133,966$133,121
2 years$68,680$67,401$66,161$64,959$63,793$62,942
3 years$45,332$44,047$42,810$41,620$40,473$39,640
4 years$33,660$32,379$31,155$29,985$28,866$28,058
5 years$26,659$25,386$24,178$23,031$21,943$21,164
6 years$21,993$20,729$19,539$18,418$17,363$16,612
7 years$18,661$17,408$16,237$15,143$14,121$13,399
8 years$16,164$14,922$13,770$12,703$11,714$11,022
9 years$14,222$12,993$11,860$10,820$9,865$9,202
10 years$12,670$11,452$10,340$9,327$8,406$7,771
11 years$11,401$10,195$9,103$8,117$7,229$6,623
12 years$10,344$9,151$8,079$7,120$6,265$5,686
13 years$9,450$8,270$7,218$6,286$5,463$4,912
14 years$8,685$7,517$6,485$5,580$4,789$4,264
15 years$8,022$6,867$5,855$4,976$4,216$3,717
16 years$7,443$6,300$5,309$4,456$3,726$3,252
17 years$6,932$5,802$4,831$4,003$3,304$2,854
18 years$6,479$5,361$4,410$3,608$2,938$2,512
19 years$6,074$4,969$4,037$3,260$2,619$2,215
20 years$5,710$4,617$3,705$2,953$2,339$1,958
21 years$5,381$4,301$3,408$2,680$2,093$1,733
22 years$5,082$4,015$3,141$2,436$1,876$1,536
23 years$4,810$3,755$2,900$2,219$1,684$1,364
24 years$4,560$3,518$2,682$2,024$1,514$1,212
25 years$4,331$3,302$2,484$1,848$1,362$1,078
26 years$4,120$3,103$2,304$1,690$1,227$960
27 years$3,925$2,920$2,139$1,547$1,106$855
28 years$3,744$2,752$1,989$1,417$998$763
29 years$3,576$2,596$1,851$1,300$901$681
30 years$3,420$2,452$1,724$1,193$814$608
31 years$3,274$2,318$1,607$1,095$736$543
32 years$3,137$2,193$1,500$1,007$666$485
33 years$3,009$2,077$1,400$926$603$434
34 years$2,888$1,968$1,308$852$546$388
35 years$2,775$1,867$1,223$784$494$347
36 years$2,668$1,772$1,144$722$448$310
37 years$2,567$1,683$1,071$665$406$278
38 years$2,472$1,599$1,003$613$368$249
39 years$2,382$1,521$940$565$334$223
40 years$2,297$1,447$881$522$303$199
41 years$2,216$1,377$826$481$275$179
42 years$2,139$1,312$775$444$249$160
43 years$2,066$1,250$727$410$226$143
44 years$1,996$1,191$682$379$205$128
45 years$1,930$1,136$641$350$186$115
46 years$1,866$1,084$602$323$169$103
47 years$1,806$1,034$565$298$154$92
48 years$1,748$987$531$276$140$83
49 years$1,693$943$499$255$127$74
50 years$1,640$901$469$235$115$67

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 $3,762 every year, while hoping to spend $50,149 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: 48/31/21 Blend
61$1,680,000$1,680,000$1,680,000$1,680,000
62$1,855,241$1,766,201$1,740,161$1,933,098
63$1,991,117$1,799,386$1,745,098$2,020,909
64$2,139,172$1,832,517$1,748,520$2,110,861
65$2,300,595$1,865,538$1,750,322$2,207,499
66$2,476,694$1,898,388$1,750,397$2,311,475
67$2,668,912$1,931,004$1,748,630$2,423,504
68$2,878,832$1,963,314$1,744,900$2,544,377
69$3,108,202$1,995,246$1,739,083$2,674,965
70$3,358,943$2,026,717$1,731,047$2,816,231
71$3,633,171$2,057,642$1,720,653$2,969,237
72$3,933,216$2,087,928$1,707,757$3,135,152
73$4,261,644$2,117,477$1,692,207$3,315,269
74$4,621,280$2,146,181$1,673,844$3,511,014
75$5,015,234$2,173,928$1,652,501$3,723,959
76$5,446,933$2,200,596$1,628,005$3,955,840
77$5,920,150$2,226,055$1,600,173$4,208,571
78$6,439,041$2,250,166$1,568,814$4,484,263
79$7,008,182$2,272,783$1,533,728$4,785,246
80$7,632,615$2,293,748$1,494,706$5,114,090
81$8,317,892$2,312,892$1,451,529$5,473,632
82$9,070,130$2,330,037$1,403,969$5,866,998
83$9,896,066$2,344,992$1,351,785$6,297,638
84$10,803,123$2,357,554$1,294,727$6,769,359
85$11,799,475$2,367,508$1,232,535$7,286,358
86$12,894,130$2,374,625$1,164,933$7,853,266
87$14,097,010$2,378,660$1,091,637$8,475,190
88$15,419,046$2,379,355$1,012,348$9,157,763
89$16,872,280$2,376,434$926,752$9,907,199
90$18,469,978$2,369,606$834,525$10,730,348
91$20,226,760$2,358,560$735,325$11,634,770
92$22,158,727$2,342,967$628,796$12,628,797
93$24,283,623$2,322,479$514,567$13,721,622
94$26,620,997$2,296,725$392,249$14,923,381
95$29,192,388$2,265,313$261,438$16,245,251
96$32,021,525$2,227,827$121,710$17,699,559
97$35,134,558$2,183,828$0$19,299,896
98$38,560,295$2,132,847$0$21,067,391
99$42,330,480$2,074,392$0$23,041,934
100$46,480,091$2,007,939$0$25,214,554