Can I retire at age 62 with 1,700,000?

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 $1,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$140,384$139,134$137,914$136,723$135,560$132,122
2 years$69,497$68,203$66,949$65,732$64,553$61,111
3 years$45,871$44,571$43,320$42,115$40,955$37,618
4 years$34,061$32,765$31,526$30,342$29,209$26,002
5 years$26,976$25,688$24,465$23,305$22,204$19,136
6 years$22,255$20,976$19,772$18,637$17,570$14,643
7 years$18,883$17,616$16,430$15,323$14,289$11,504
8 years$16,356$15,100$13,934$12,854$11,854$9,210
9 years$14,392$13,147$12,002$10,949$9,983$7,478
10 years$12,821$11,589$10,463$9,438$8,506$6,136
11 years$11,537$10,317$9,212$8,214$7,315$5,078
12 years$10,467$9,260$8,175$7,205$6,339$4,230
13 years$9,563$8,368$7,304$6,361$5,528$3,543
14 years$8,788$7,606$6,563$5,646$4,846$2,980
15 years$8,118$6,949$5,925$5,035$4,267$2,516
16 years$7,532$6,375$5,372$4,509$3,771$2,130
17 years$7,015$5,871$4,888$4,051$3,343$1,808
18 years$6,556$5,425$4,462$3,651$2,973$1,538
19 years$6,146$5,028$4,085$3,299$2,650$1,310
20 years$5,778$4,672$3,749$2,988$2,367$1,118
21 years$5,445$4,352$3,448$2,712$2,118$955
22 years$5,142$4,063$3,178$2,465$1,899$817
23 years$4,867$3,800$2,935$2,245$1,704$699
24 years$4,615$3,560$2,714$2,048$1,532$599
25 years$4,383$3,341$2,514$1,870$1,378$514
26 years$4,169$3,140$2,331$1,710$1,242$441
27 years$3,972$2,955$2,165$1,565$1,119$378
28 years$3,789$2,784$2,013$1,434$1,010$325
29 years$3,619$2,627$1,873$1,315$912$279
30 years$3,460$2,481$1,744$1,207$824$239
31 years$3,313$2,345$1,626$1,108$745$206
32 years$3,174$2,219$1,517$1,019$674$177
33 years$3,044$2,101$1,417$937$610$152
34 years$2,923$1,992$1,324$862$552$131
35 years$2,808$1,889$1,238$793$500$112
36 years$2,700$1,793$1,158$731$453$97
37 years$2,598$1,703$1,084$673$411$83
38 years$2,502$1,618$1,015$621$372$71
39 years$2,411$1,539$951$572$338$61
40 years$2,324$1,464$891$528$306$53
41 years$2,242$1,394$836$487$278$45
42 years$2,164$1,327$784$449$252$39
43 years$2,090$1,265$736$415$229$34
44 years$2,020$1,206$690$383$208$29
45 years$1,953$1,150$648$354$189$25
46 years$1,889$1,097$609$327$171$21
47 years$1,828$1,047$572$302$155$18
48 years$1,769$999$538$279$141$16
49 years$1,713$954$505$258$128$14
50 years$1,660$911$475$238$116$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,700,000, adding $5,872 every year, while hoping to spend $48,136 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: 43/43/14 Blend
61$1,700,000$1,700,000$1,700,000$1,700,000
62$1,879,457$1,789,357$1,763,007$1,952,393
63$2,019,945$1,825,819$1,770,851$2,040,534
64$2,173,150$1,862,455$1,777,345$2,130,708
65$2,340,318$1,899,221$1,782,393$2,227,353
66$2,522,820$1,936,073$1,785,892$2,331,082
67$2,722,166$1,972,959$1,787,739$2,442,573
68$2,940,020$2,009,827$1,787,821$2,562,574
69$3,178,211$2,046,617$1,786,021$2,691,909
70$3,438,753$2,083,267$1,782,219$2,831,486
71$3,723,867$2,119,708$1,776,284$2,982,309
72$4,035,995$2,155,867$1,768,083$3,145,481
73$4,377,827$2,191,665$1,757,474$3,322,223
74$4,752,326$2,227,017$1,744,310$3,513,877
75$5,162,755$2,261,832$1,728,436$3,721,928
76$5,612,706$2,296,013$1,709,689$3,948,011
77$6,106,139$2,329,453$1,687,900$4,193,928
78$6,647,410$2,362,042$1,662,890$4,461,670
79$7,241,323$2,393,659$1,634,474$4,753,430
80$7,893,165$2,424,175$1,602,455$5,071,628
81$8,608,761$2,453,453$1,566,631$5,418,934
82$9,394,529$2,481,347$1,526,787$5,798,291
83$10,257,536$2,507,698$1,482,700$6,212,946
84$11,205,571$2,532,341$1,434,137$6,666,479
85$12,247,211$2,555,098$1,380,852$7,162,841
86$13,391,906$2,575,777$1,322,590$7,706,387
87$14,650,068$2,594,177$1,259,084$8,301,919
88$16,033,166$2,610,083$1,190,054$8,954,737
89$17,553,837$2,623,265$1,115,209$9,670,683
90$19,226,003$2,633,480$1,034,244$10,456,200
91$21,065,002$2,640,468$946,838$11,318,393
92$23,087,735$2,643,954$852,660$12,265,099
93$25,312,821$2,643,645$751,361$13,304,958
94$27,760,775$2,639,229$642,578$14,447,499
95$30,454,201$2,630,378$525,931$15,703,229
96$33,418,004$2,616,741$401,024$17,083,736
97$36,679,625$2,597,946$267,443$18,601,795
98$40,269,301$2,573,600$124,756$20,271,493
99$44,220,347$2,543,283$0$22,108,365
100$48,569,471$2,506,553$0$24,133,648