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%17.2%
1 years$140,384$139,134$137,914$136,723$135,560$131,590
2 years$69,497$68,203$66,949$65,732$64,553$60,585
3 years$45,871$44,571$43,320$42,115$40,955$37,114
4 years$34,061$32,765$31,526$30,342$29,209$25,525
5 years$26,976$25,688$24,465$23,305$22,204$18,686
6 years$22,255$20,976$19,772$18,637$17,570$14,221
7 years$18,883$17,616$16,430$15,323$14,289$11,109
8 years$16,356$15,100$13,934$12,854$11,854$8,842
9 years$14,392$13,147$12,002$10,949$9,983$7,135
10 years$12,821$11,589$10,463$9,438$8,506$5,819
11 years$11,537$10,317$9,212$8,214$7,315$4,784
12 years$10,467$9,260$8,175$7,205$6,339$3,959
13 years$9,563$8,368$7,304$6,361$5,528$3,294
14 years$8,788$7,606$6,563$5,646$4,846$2,752
15 years$8,118$6,949$5,925$5,035$4,267$2,307
16 years$7,532$6,375$5,372$4,509$3,771$1,939
17 years$7,015$5,871$4,888$4,051$3,343$1,634
18 years$6,556$5,425$4,462$3,651$2,973$1,380
19 years$6,146$5,028$4,085$3,299$2,650$1,167
20 years$5,778$4,672$3,749$2,988$2,367$988
21 years$5,445$4,352$3,448$2,712$2,118$838
22 years$5,142$4,063$3,178$2,465$1,899$711
23 years$4,867$3,800$2,935$2,245$1,704$604
24 years$4,615$3,560$2,714$2,048$1,532$513
25 years$4,383$3,341$2,514$1,870$1,378$436
26 years$4,169$3,140$2,331$1,710$1,242$371
27 years$3,972$2,955$2,165$1,565$1,119$316
28 years$3,789$2,784$2,013$1,434$1,010$269
29 years$3,619$2,627$1,873$1,315$912$229
30 years$3,460$2,481$1,744$1,207$824$195
31 years$3,313$2,345$1,626$1,108$745$166
32 years$3,174$2,219$1,517$1,019$674$142
33 years$3,044$2,101$1,417$937$610$121
34 years$2,923$1,992$1,324$862$552$103
35 years$2,808$1,889$1,238$793$500$88
36 years$2,700$1,793$1,158$731$453$75
37 years$2,598$1,703$1,084$673$411$64
38 years$2,502$1,618$1,015$621$372$55
39 years$2,411$1,539$951$572$338$47
40 years$2,324$1,464$891$528$306$40
41 years$2,242$1,394$836$487$278$34
42 years$2,164$1,327$784$449$252$29
43 years$2,090$1,265$736$415$229$25
44 years$2,020$1,206$690$383$208$21
45 years$1,953$1,150$648$354$189$18
46 years$1,889$1,097$609$327$171$15
47 years$1,828$1,047$572$302$155$13
48 years$1,769$999$538$279$141$11
49 years$1,713$954$505$258$128$9
50 years$1,660$911$475$238$116$8

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 $2,568 every year, while hoping to spend $40,271 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: 65/16/19 Blend
61$1,700,000$1,700,000$1,700,000$1,700,000
62$1,876,049$1,785,949$1,759,599$1,988,878
63$2,024,558$1,830,612$1,775,697$2,109,575
64$2,186,865$1,876,115$1,790,986$2,236,583
65$2,364,335$1,922,454$1,805,394$2,374,424
66$2,558,471$1,969,628$1,818,848$2,524,159
67$2,770,928$2,017,633$1,831,272$2,686,958
68$3,003,527$2,066,462$1,842,585$2,864,109
69$3,258,276$2,116,107$1,852,700$3,057,031
70$3,537,383$2,166,559$1,861,528$3,267,287
71$3,843,281$2,217,806$1,868,975$3,496,601
72$4,178,652$2,269,834$1,874,941$3,746,871
73$4,546,446$2,322,628$1,879,324$4,020,187
74$4,949,915$2,376,168$1,882,012$4,318,853
75$5,392,639$2,430,433$1,882,892$4,645,410
76$5,878,563$2,485,399$1,881,844$5,002,655
77$6,412,031$2,541,038$1,878,740$5,393,669
78$6,997,829$2,597,319$1,873,449$5,821,851
79$7,641,229$2,654,210$1,865,831$6,290,945
80$8,348,039$2,711,671$1,855,741$6,805,074
81$9,124,657$2,769,661$1,843,027$7,368,786
82$9,978,132$2,828,133$1,827,527$7,987,090
83$10,916,227$2,887,038$1,809,076$8,665,507
84$11,947,499$2,946,320$1,787,496$9,410,122
85$13,081,372$3,005,917$1,762,605$10,227,638
86$14,328,229$3,065,764$1,734,210$11,125,446
87$15,699,511$3,125,790$1,702,109$12,111,688
88$17,207,823$3,185,915$1,666,091$13,195,340
89$18,867,052$3,246,056$1,625,936$14,386,290
90$20,692,499$3,306,121$1,581,413$15,695,440
91$22,701,024$3,366,010$1,532,280$17,134,801
92$24,911,202$3,425,618$1,478,285$18,717,612
93$27,343,500$3,484,829$1,419,163$20,458,463
94$30,020,470$3,543,518$1,354,638$22,373,432
95$32,966,961$3,601,554$1,284,421$24,480,240
96$36,210,353$3,658,792$1,208,211$26,798,417
97$39,780,815$3,715,078$1,125,692$29,349,484
98$43,711,589$3,770,249$1,036,534$32,157,162
99$48,039,306$3,824,126$940,393$35,247,592
100$52,804,328$3,876,521$836,909$38,649,582