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

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 $1,730,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$142,862$141,589$140,348$139,136$137,953$133,377
2 years$70,724$69,406$68,130$66,892$65,692$61,126
3 years$46,681$45,358$44,085$42,859$41,678$37,265
4 years$34,662$33,343$32,082$30,877$29,725$25,500
5 years$27,452$26,141$24,897$23,717$22,596$18,570
6 years$22,647$21,346$20,121$18,966$17,880$14,055
7 years$19,217$17,927$16,720$15,593$14,541$10,917
8 years$16,645$15,366$14,180$13,081$12,063$8,638
9 years$14,646$13,379$12,213$11,142$10,159$6,929
10 years$13,047$11,793$10,648$9,604$8,656$5,615
11 years$11,740$10,499$9,374$8,359$7,444$4,587
12 years$10,652$9,423$8,319$7,332$6,451$3,771
13 years$9,732$8,516$7,433$6,473$5,626$3,116
14 years$8,943$7,741$6,678$5,746$4,931$2,585
15 years$8,261$7,071$6,030$5,124$4,342$2,152
16 years$7,665$6,488$5,467$4,588$3,837$1,796
17 years$7,139$5,975$4,975$4,123$3,402$1,502
18 years$6,672$5,521$4,541$3,715$3,025$1,259
19 years$6,255$5,117$4,157$3,357$2,697$1,057
20 years$5,880$4,755$3,815$3,040$2,409$888
21 years$5,541$4,429$3,509$2,759$2,155$747
22 years$5,233$4,134$3,234$2,509$1,932$629
23 years$4,953$3,867$2,986$2,285$1,734$530
24 years$4,696$3,623$2,762$2,084$1,559$447
25 years$4,460$3,400$2,558$1,903$1,403$377
26 years$4,243$3,195$2,372$1,740$1,264$318
27 years$4,042$3,007$2,203$1,593$1,139$269
28 years$3,856$2,834$2,048$1,459$1,028$227
29 years$3,683$2,673$1,906$1,338$928$192
30 years$3,522$2,525$1,775$1,228$839$162
31 years$3,371$2,387$1,655$1,128$758$137
32 years$3,230$2,258$1,544$1,037$686$116
33 years$3,098$2,139$1,442$953$621$98
34 years$2,974$2,027$1,347$877$562$83
35 years$2,858$1,922$1,259$807$509$70
36 years$2,748$1,825$1,178$744$461$59
37 years$2,644$1,733$1,103$685$418$50
38 years$2,546$1,647$1,033$632$379$42
39 years$2,453$1,566$968$582$344$36
40 years$2,365$1,490$907$537$312$30
41 years$2,282$1,418$850$496$283$26
42 years$2,203$1,351$798$457$257$22
43 years$2,127$1,287$748$422$233$18
44 years$2,055$1,227$703$390$211$15
45 years$1,987$1,170$660$360$192$13
46 years$1,922$1,116$620$333$174$11
47 years$1,860$1,065$582$307$158$9
48 years$1,800$1,017$547$284$144$8
49 years$1,743$971$514$262$130$7
50 years$1,689$927$483$242$119$6

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 $5,371 every year, while hoping to spend $38,872 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: 50/44/6 Blend
61$1,730,000$1,730,000$1,730,000$1,730,000
62$1,912,000$1,820,310$1,793,495$2,004,496
63$2,065,665$1,868,146$1,812,218$2,115,902
64$2,233,700$1,917,023$1,830,265$2,232,266
65$2,417,531$1,966,951$1,847,572$2,357,775
66$2,618,727$2,017,939$1,864,074$2,493,295
67$2,839,015$2,069,996$1,879,698$2,639,776
68$3,080,298$2,123,128$1,894,371$2,798,266
69$3,344,669$2,177,343$1,908,014$2,969,918
70$3,634,438$2,232,645$1,920,544$3,156,000
71$3,952,144$2,289,038$1,931,876$3,357,908
72$4,300,586$2,346,525$1,941,918$3,577,181
73$4,682,848$2,405,106$1,950,573$3,815,510
74$5,102,323$2,464,781$1,957,742$4,074,762
75$5,562,753$2,525,548$1,963,319$4,356,989
76$6,068,255$2,587,402$1,967,193$4,664,451
77$6,623,370$2,650,337$1,969,246$4,999,640
78$7,233,095$2,714,345$1,969,357$5,365,299
79$7,902,937$2,779,414$1,967,397$5,764,449
80$8,638,964$2,845,532$1,963,231$6,200,418
81$9,447,857$2,912,683$1,956,719$6,676,873
82$10,336,981$2,980,847$1,947,712$7,197,854
83$11,314,447$3,050,002$1,936,054$7,767,809
84$12,389,193$3,120,124$1,921,584$8,391,642
85$13,571,063$3,191,182$1,904,129$9,074,755
86$14,870,906$3,263,146$1,883,513$9,823,098
87$16,300,675$3,335,976$1,859,547$10,643,228
88$17,873,538$3,409,633$1,832,035$11,542,371
89$19,604,004$3,484,070$1,800,774$12,528,487
90$21,508,059$3,559,236$1,765,546$13,610,348
91$23,603,318$3,635,075$1,726,129$14,797,621
92$25,909,189$3,711,526$1,682,287$16,100,955
93$28,447,056$3,788,521$1,633,773$17,532,088
94$31,240,482$3,865,985$1,580,331$19,103,952
95$34,315,430$3,943,837$1,521,691$20,830,800
96$37,700,507$4,021,989$1,457,572$22,728,336
97$41,427,238$4,100,345$1,387,679$24,813,866
98$45,530,355$4,178,801$1,311,705$27,106,464
99$50,048,132$4,257,243$1,229,328$29,627,144
100$55,022,744$4,335,550$1,140,213$32,399,070