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

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 $1,710,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$141,210$139,952$138,725$137,527$136,358$132,846
2 years$69,906$68,604$67,342$66,119$64,932$61,417
3 years$46,141$44,834$43,575$42,363$41,196$37,788
4 years$34,261$32,957$31,711$30,520$29,381$26,107
5 years$27,135$25,839$24,609$23,442$22,335$19,203
6 years$22,385$21,099$19,888$18,747$17,673$14,686
7 years$18,994$17,719$16,527$15,413$14,373$11,532
8 years$16,452$15,189$14,016$12,930$11,924$9,227
9 years$14,476$13,225$12,072$11,013$10,041$7,486
10 years$12,896$11,657$10,525$9,493$8,556$6,140
11 years$11,604$10,377$9,266$8,262$7,358$5,077
12 years$10,529$9,314$8,223$7,247$6,377$4,227
13 years$9,619$8,417$7,347$6,398$5,560$3,538
14 years$8,840$7,651$6,601$5,679$4,874$2,974
15 years$8,166$6,989$5,960$5,065$4,292$2,509
16 years$7,576$6,413$5,404$4,535$3,793$2,123
17 years$7,056$5,906$4,917$4,075$3,363$1,800
18 years$6,595$5,457$4,489$3,672$2,990$1,530
19 years$6,182$5,058$4,109$3,318$2,665$1,303
20 years$5,812$4,700$3,771$3,005$2,381$1,111
21 years$5,477$4,378$3,469$2,727$2,131$948
22 years$5,173$4,086$3,197$2,480$1,910$810
23 years$4,895$3,822$2,952$2,258$1,714$693
24 years$4,642$3,581$2,730$2,060$1,541$593
25 years$4,409$3,361$2,529$1,881$1,386$508
26 years$4,194$3,158$2,345$1,720$1,249$436
27 years$3,995$2,972$2,178$1,574$1,126$374
28 years$3,811$2,801$2,024$1,443$1,016$320
29 years$3,640$2,642$1,884$1,323$917$275
30 years$3,481$2,495$1,755$1,214$829$236
31 years$3,332$2,359$1,636$1,115$749$203
32 years$3,193$2,232$1,526$1,025$678$174
33 years$3,062$2,114$1,425$942$614$149
34 years$2,940$2,003$1,332$867$555$128
35 years$2,825$1,900$1,245$798$503$110
36 years$2,716$1,804$1,165$735$456$95
37 years$2,613$1,713$1,090$677$413$81
38 years$2,516$1,628$1,021$624$375$70
39 years$2,425$1,548$956$576$340$60
40 years$2,338$1,473$896$531$308$52
41 years$2,255$1,402$841$490$280$44
42 years$2,177$1,335$788$452$254$38
43 years$2,103$1,272$740$417$230$33
44 years$2,032$1,213$694$385$209$28
45 years$1,964$1,156$652$356$190$24
46 years$1,900$1,103$612$329$172$21
47 years$1,838$1,053$575$304$156$18
48 years$1,780$1,005$541$281$142$15
49 years$1,723$960$508$259$129$13
50 years$1,670$917$478$240$117$11

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 $4,938 every year, while hoping to spend $27,125 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: 84/5/11 Blend
61$1,710,000$1,710,000$1,710,000$1,710,000
62$1,889,514$1,798,884$1,772,379$2,044,462
63$2,053,383$1,858,168$1,802,892$2,205,848
64$2,233,058$1,919,448$1,833,519$2,378,949
65$2,430,123$1,982,794$1,864,235$2,568,268
66$2,646,320$2,048,276$1,895,012$2,775,420
67$2,883,572$2,115,968$1,925,822$3,002,184
68$3,143,995$2,185,949$1,956,635$3,250,520
69$3,429,919$2,258,297$1,987,419$3,522,586
70$3,743,912$2,333,095$2,018,139$3,820,759
71$4,088,803$2,410,429$2,048,758$4,147,659
72$4,467,707$2,490,386$2,079,238$4,506,169
73$4,884,058$2,573,060$2,109,538$4,899,468
74$5,341,637$2,658,545$2,139,613$5,331,057
75$5,844,611$2,746,941$2,169,416$5,804,791
76$6,397,569$2,838,348$2,198,899$6,324,920
77$7,005,568$2,932,874$2,228,009$6,896,125
78$7,674,179$3,030,629$2,256,691$7,523,562
79$8,409,541$3,131,725$2,284,886$8,212,913
80$9,218,417$3,236,283$2,312,532$8,970,437
81$10,108,258$3,344,423$2,339,565$9,803,032
82$11,087,274$3,456,273$2,365,914$10,718,295
83$12,164,511$3,571,965$2,391,506$11,724,600
84$13,349,935$3,691,636$2,416,266$12,831,170
85$14,654,529$3,815,427$2,440,112$14,048,171
86$16,090,393$3,943,485$2,462,958$15,386,800
87$17,670,860$4,075,962$2,484,713$16,859,399
88$19,410,621$4,213,017$2,505,284$18,479,563
89$21,325,863$4,354,814$2,524,570$20,262,276
90$23,434,424$4,501,523$2,542,466$22,224,045
91$25,755,958$4,653,320$2,558,861$24,383,061
92$28,312,121$4,810,388$2,573,639$26,759,367
93$31,126,779$4,972,919$2,586,677$29,375,052
94$34,226,227$5,141,108$2,597,847$32,254,451
95$37,639,440$5,315,160$2,607,013$35,424,384
96$41,398,349$5,495,289$2,614,034$38,914,402
97$45,538,136$5,681,714$2,618,760$42,757,068
98$50,097,572$5,874,664$2,621,034$46,988,265
99$55,119,379$6,074,377$2,620,693$51,647,534
100$60,650,633$6,281,099$2,617,564$56,778,448