Can I retire at age 62 with 1,710,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $1,710,000?

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$141,210$139,952$138,725$137,527$136,358$132,900
2 years$69,906$68,604$67,342$66,119$64,932$61,471
3 years$46,141$44,834$43,575$42,363$41,196$37,839
4 years$34,261$32,957$31,711$30,520$29,381$26,155
5 years$27,135$25,839$24,609$23,442$22,335$19,249
6 years$22,385$21,099$19,888$18,747$17,673$14,729
7 years$18,994$17,719$16,527$15,413$14,373$11,572
8 years$16,452$15,189$14,016$12,930$11,924$9,264
9 years$14,476$13,225$12,072$11,013$10,041$7,522
10 years$12,896$11,657$10,525$9,493$8,556$6,172
11 years$11,604$10,377$9,266$8,262$7,358$5,108
12 years$10,529$9,314$8,223$7,247$6,377$4,255
13 years$9,619$8,417$7,347$6,398$5,560$3,564
14 years$8,840$7,651$6,601$5,679$4,874$2,998
15 years$8,166$6,989$5,960$5,065$4,292$2,531
16 years$7,576$6,413$5,404$4,535$3,793$2,143
17 years$7,056$5,906$4,917$4,075$3,363$1,819
18 years$6,595$5,457$4,489$3,672$2,990$1,547
19 years$6,182$5,058$4,109$3,318$2,665$1,318
20 years$5,812$4,700$3,771$3,005$2,381$1,125
21 years$5,477$4,378$3,469$2,727$2,131$961
22 years$5,173$4,086$3,197$2,480$1,910$822
23 years$4,895$3,822$2,952$2,258$1,714$703
24 years$4,642$3,581$2,730$2,060$1,541$603
25 years$4,409$3,361$2,529$1,881$1,386$517
26 years$4,194$3,158$2,345$1,720$1,249$443
27 years$3,995$2,972$2,178$1,574$1,126$380
28 years$3,811$2,801$2,024$1,443$1,016$326
29 years$3,640$2,642$1,884$1,323$917$280
30 years$3,481$2,495$1,755$1,214$829$241
31 years$3,332$2,359$1,636$1,115$749$207
32 years$3,193$2,232$1,526$1,025$678$178
33 years$3,062$2,114$1,425$942$614$153
34 years$2,940$2,003$1,332$867$555$131
35 years$2,825$1,900$1,245$798$503$113
36 years$2,716$1,804$1,165$735$456$97
37 years$2,613$1,713$1,090$677$413$84
38 years$2,516$1,628$1,021$624$375$72
39 years$2,425$1,548$956$576$340$62
40 years$2,338$1,473$896$531$308$53
41 years$2,255$1,402$841$490$280$46
42 years$2,177$1,335$788$452$254$39
43 years$2,103$1,272$740$417$230$34
44 years$2,032$1,213$694$385$209$29
45 years$1,964$1,156$652$356$190$25
46 years$1,900$1,103$612$329$172$22
47 years$1,838$1,053$575$304$156$19
48 years$1,780$1,005$541$281$142$16
49 years$1,723$960$508$259$129$14
50 years$1,670$917$478$240$117$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,710,000, adding $2,574 every year, while hoping to spend $37,376 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: 66/27/7 Blend
61$1,710,000$1,710,000$1,710,000$1,710,000
62$1,887,075$1,796,445$1,769,940$2,009,141
63$2,039,789$1,844,703$1,789,465$2,138,810
64$2,206,827$1,894,073$1,808,392$2,275,756
65$2,389,611$1,944,570$1,826,660$2,424,430
66$2,589,706$1,996,209$1,844,208$2,585,968
67$2,808,835$2,049,003$1,860,969$2,761,625
68$3,048,898$2,102,965$1,876,873$2,952,779
69$3,311,984$2,158,109$1,891,847$3,160,950
70$3,600,397$2,214,447$1,905,814$3,387,810
71$3,916,671$2,271,988$1,918,692$3,635,201
72$4,263,599$2,330,743$1,930,396$3,905,150
73$4,644,258$2,390,722$1,940,836$4,199,891
74$5,062,036$2,451,931$1,949,918$4,521,884
75$5,520,666$2,514,377$1,957,542$4,873,839
76$6,024,258$2,578,066$1,963,604$5,258,740
77$6,577,342$2,643,001$1,967,995$5,679,873
78$7,184,907$2,709,184$1,970,598$6,140,861
79$7,852,448$2,776,615$1,971,294$6,645,691
80$8,586,021$2,845,293$1,969,956$7,198,759
81$9,392,297$2,915,213$1,966,451$7,804,905
82$10,278,623$2,986,370$1,960,639$8,469,463
83$11,253,096$3,058,756$1,952,374$9,198,308
84$12,324,637$3,132,360$1,941,503$9,997,914
85$13,503,071$3,207,167$1,927,865$10,875,413
86$14,799,228$3,283,162$1,911,292$11,838,664
87$16,225,036$3,360,324$1,891,607$12,896,326
88$17,793,640$3,438,630$1,868,626$14,057,937
89$19,519,521$3,518,053$1,842,155$15,334,011
90$21,418,637$3,598,562$1,811,992$16,736,128
91$23,508,568$3,680,121$1,777,924$18,277,052
92$25,808,687$3,762,692$1,739,729$19,970,846
93$28,340,339$3,846,230$1,697,176$21,833,004
94$31,127,043$3,930,685$1,650,021$23,880,601
95$34,194,714$4,016,001$1,598,010$26,132,453
96$37,571,909$4,102,119$1,540,876$28,609,292
97$41,290,091$4,188,970$1,478,343$31,333,965
98$45,383,932$4,276,482$1,410,120$34,331,645
99$49,891,636$4,364,572$1,335,901$37,630,076
100$54,855,300$4,453,153$1,255,371$41,259,828