Can I retire at age 62 with 1,690,000?

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 $1,690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.5%
1 years$139,559$138,316$137,103$135,919$134,763$130,137
2 years$69,088$67,802$66,555$65,346$64,173$59,559
3 years$45,601$44,309$43,065$41,868$40,714$36,258
4 years$33,860$32,572$31,341$30,163$29,037$24,773
5 years$26,817$25,537$24,322$23,168$22,074$18,012
6 years$22,124$20,853$19,655$18,528$17,466$13,610
7 years$18,772$17,512$16,334$15,233$14,205$10,554
8 years$16,260$15,011$13,852$12,778$11,784$8,336
9 years$14,307$13,070$11,931$10,884$9,924$6,674
10 years$12,745$11,520$10,402$9,382$8,456$5,398
11 years$11,469$10,256$9,157$8,166$7,272$4,401
12 years$10,405$9,205$8,127$7,162$6,302$3,611
13 years$9,507$8,319$7,261$6,323$5,495$2,978
14 years$8,737$7,562$6,524$5,613$4,817$2,465
15 years$8,070$6,908$5,890$5,006$4,241$2,048
16 years$7,487$6,338$5,340$4,482$3,749$1,705
17 years$6,974$5,837$4,860$4,027$3,324$1,423
18 years$6,518$5,393$4,436$3,629$2,955$1,190
19 years$6,110$4,999$4,061$3,279$2,634$997
20 years$5,744$4,645$3,727$2,970$2,353$836
21 years$5,413$4,327$3,428$2,696$2,106$701
22 years$5,112$4,039$3,160$2,451$1,887$589
23 years$4,838$3,777$2,917$2,232$1,694$495
24 years$4,587$3,539$2,698$2,036$1,523$417
25 years$4,357$3,321$2,499$1,859$1,370$351
26 years$4,145$3,121$2,318$1,700$1,234$295
27 years$3,949$2,938$2,152$1,556$1,113$249
28 years$3,767$2,768$2,001$1,426$1,004$210
29 years$3,598$2,611$1,862$1,307$907$177
30 years$3,440$2,466$1,734$1,200$819$149
31 years$3,293$2,331$1,617$1,102$741$125
32 years$3,156$2,206$1,508$1,013$670$106
33 years$3,027$2,089$1,408$931$606$89
34 years$2,905$1,980$1,316$857$549$75
35 years$2,791$1,878$1,230$789$497$63
36 years$2,684$1,782$1,151$726$451$54
37 years$2,583$1,693$1,077$669$408$45
38 years$2,487$1,609$1,009$617$370$38
39 years$2,396$1,530$945$569$336$32
40 years$2,310$1,456$886$525$304$27
41 years$2,229$1,386$831$484$276$23
42 years$2,152$1,320$779$447$251$19
43 years$2,078$1,257$731$412$227$16
44 years$2,008$1,198$686$381$206$14
45 years$1,941$1,143$644$352$187$12
46 years$1,878$1,090$605$325$170$10
47 years$1,817$1,040$569$300$155$8
48 years$1,759$993$534$277$140$7
49 years$1,703$948$502$256$127$6
50 years$1,650$906$472$237$116$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,690,000, adding $6,932 every year, while hoping to spend $52,651 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: 49/46/5 Blend
61$1,690,000$1,690,000$1,690,000$1,690,000
62$1,869,530$1,779,960$1,753,765$1,958,506
63$2,004,202$1,811,158$1,756,496$2,051,109
64$2,150,846$1,842,120$1,757,554$2,145,419
65$2,310,627$1,872,779$1,756,827$2,246,590
66$2,484,828$1,903,062$1,754,198$2,355,271
67$2,674,861$1,932,893$1,749,544$2,472,183
68$2,882,280$1,962,188$1,742,737$2,598,117
69$3,108,795$1,990,857$1,733,641$2,733,948
70$3,356,289$2,018,806$1,722,114$2,880,638
71$3,626,835$2,045,931$1,708,010$3,039,250
72$3,922,714$2,072,125$1,691,170$3,210,956
73$4,246,441$2,097,269$1,671,435$3,397,048
74$4,600,782$2,121,238$1,648,631$3,598,952
75$4,988,783$2,143,901$1,622,582$3,818,238
76$5,413,800$2,165,113$1,593,099$4,056,641
77$5,879,528$2,184,724$1,559,989$4,316,073
78$6,390,036$2,202,571$1,523,044$4,598,642
79$6,949,806$2,218,484$1,482,052$4,906,675
80$7,563,774$2,232,277$1,436,789$5,242,738
81$8,237,377$2,243,757$1,387,020$5,609,659
82$8,976,603$2,252,715$1,332,499$6,010,561
83$9,788,050$2,258,931$1,272,971$6,448,885
84$10,678,983$2,262,170$1,208,167$6,928,429
85$11,657,406$2,262,184$1,137,808$7,453,380
86$12,732,138$2,258,707$1,061,600$8,028,357
87$13,912,890$2,251,459$979,239$8,658,453
88$15,210,365$2,240,140$890,403$9,349,287
89$16,636,351$2,224,435$794,760$10,107,055
90$18,203,835$2,204,009$691,961$10,938,589
91$19,927,126$2,178,505$581,641$11,851,426
92$21,821,986$2,147,545$463,420$12,853,877
93$23,905,785$2,110,731$336,901$13,955,107
94$26,197,657$2,067,639$201,669$15,165,222
95$28,718,685$2,017,820$57,291$16,495,368
96$31,492,097$1,960,799$0$17,957,837
97$34,543,486$1,896,073$0$19,571,344
98$37,901,051$1,823,111$0$21,349,269
99$41,595,863$1,741,348$0$23,305,057
100$45,662,157$1,650,190$0$25,456,908