Can I retire at age 62 with 1,730,000?

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 $1,730,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.5%
1 years$142,862$141,589$140,348$139,136$137,953$133,751
2 years$70,724$69,406$68,130$66,892$65,692$61,495
3 years$46,681$45,358$44,085$42,859$41,678$37,617
4 years$34,662$33,343$32,082$30,877$29,725$25,831
5 years$27,452$26,141$24,897$23,717$22,596$18,881
6 years$22,647$21,346$20,121$18,966$17,880$14,345
7 years$19,217$17,927$16,720$15,593$14,541$11,188
8 years$16,645$15,366$14,180$13,081$12,063$8,889
9 years$14,646$13,379$12,213$11,142$10,159$7,160
10 years$13,047$11,793$10,648$9,604$8,656$5,828
11 years$11,740$10,499$9,374$8,359$7,444$4,783
12 years$10,652$9,423$8,319$7,332$6,451$3,950
13 years$9,732$8,516$7,433$6,473$5,626$3,279
14 years$8,943$7,741$6,678$5,746$4,931$2,734
15 years$8,261$7,071$6,030$5,124$4,342$2,287
16 years$7,665$6,488$5,467$4,588$3,837$1,918
17 years$7,139$5,975$4,975$4,123$3,402$1,613
18 years$6,672$5,521$4,541$3,715$3,025$1,359
19 years$6,255$5,117$4,157$3,357$2,697$1,147
20 years$5,880$4,755$3,815$3,040$2,409$969
21 years$5,541$4,429$3,509$2,759$2,155$819
22 years$5,233$4,134$3,234$2,509$1,932$694
23 years$4,953$3,867$2,986$2,285$1,734$588
24 years$4,696$3,623$2,762$2,084$1,559$498
25 years$4,460$3,400$2,558$1,903$1,403$423
26 years$4,243$3,195$2,372$1,740$1,264$359
27 years$4,042$3,007$2,203$1,593$1,139$305
28 years$3,856$2,834$2,048$1,459$1,028$259
29 years$3,683$2,673$1,906$1,338$928$220
30 years$3,522$2,525$1,775$1,228$839$187
31 years$3,371$2,387$1,655$1,128$758$159
32 years$3,230$2,258$1,544$1,037$686$135
33 years$3,098$2,139$1,442$953$621$115
34 years$2,974$2,027$1,347$877$562$98
35 years$2,858$1,922$1,259$807$509$83
36 years$2,748$1,825$1,178$744$461$71
37 years$2,644$1,733$1,103$685$418$60
38 years$2,546$1,647$1,033$632$379$51
39 years$2,453$1,566$968$582$344$44
40 years$2,365$1,490$907$537$312$37
41 years$2,282$1,418$850$496$283$32
42 years$2,203$1,351$798$457$257$27
43 years$2,127$1,287$748$422$233$23
44 years$2,055$1,227$703$390$211$19
45 years$1,987$1,170$660$360$192$17
46 years$1,922$1,116$620$333$174$14
47 years$1,860$1,065$582$307$158$12
48 years$1,800$1,017$547$284$144$10
49 years$1,743$971$514$262$130$9
50 years$1,689$927$483$242$119$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,730,000, adding $3,809 every year, while hoping to spend $41,027 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: 34/39/27 Blend
61$1,730,000$1,730,000$1,730,000$1,730,000
62$1,910,389$1,818,699$1,791,884$1,959,602
63$2,061,596$1,864,163$1,808,260$2,042,415
64$2,226,852$1,910,479$1,823,809$2,127,707
65$2,407,545$1,957,647$1,838,461$2,218,883
66$2,605,205$2,005,663$1,852,140$2,316,496
67$2,821,518$2,054,522$1,864,769$2,421,152
68$3,058,338$2,104,219$1,876,264$2,533,520
69$3,317,709$2,154,746$1,886,539$2,654,340
70$3,601,878$2,206,092$1,895,501$2,784,424
71$3,913,325$2,258,245$1,903,055$2,924,668
72$4,254,776$2,311,192$1,909,100$3,076,062
73$4,629,239$2,364,915$1,913,530$3,239,695
74$5,040,021$2,419,395$1,916,233$3,416,767
75$5,490,768$2,474,611$1,917,092$3,608,604
76$5,985,498$2,530,538$1,915,986$3,816,666
77$6,528,631$2,587,147$1,912,784$4,042,562
78$7,125,042$2,644,408$1,907,352$4,288,069
79$7,780,096$2,702,284$1,899,549$4,555,143
80$8,499,708$2,760,738$1,889,226$4,845,942
81$9,290,391$2,819,726$1,876,227$5,162,847
82$10,159,320$2,879,202$1,860,390$5,508,481
83$11,114,401$2,939,114$1,841,544$5,885,738
84$12,164,343$2,999,404$1,819,509$6,297,808
85$13,318,743$3,060,011$1,794,099$6,748,209
86$14,588,170$3,120,867$1,765,117$7,240,818
87$15,984,273$3,181,899$1,732,358$7,779,914
88$17,519,884$3,243,028$1,695,607$8,370,212
89$19,209,142$3,304,165$1,654,640$9,016,911
90$21,067,624$3,365,219$1,609,220$9,725,744
91$23,112,495$3,426,088$1,559,101$10,503,032
92$25,362,665$3,486,662$1,504,027$11,355,745
93$27,838,973$3,546,824$1,443,728$12,291,568
94$30,564,377$3,606,448$1,377,922$13,318,971
95$33,564,177$3,665,397$1,306,316$14,447,297
96$36,866,246$3,723,525$1,228,601$15,686,844
97$40,501,300$3,780,674$1,144,456$17,048,967
98$44,503,182$3,836,677$1,053,545$18,546,183
99$48,909,185$3,891,353$955,517$20,192,294
100$53,760,401$3,944,508$850,005$22,002,516