Can I retire at age 62 with 1,770,000?

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 $1,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$146,165$144,863$143,593$142,353$141,142$138,690
2 years$72,359$71,011$69,705$68,439$67,211$64,748
3 years$47,760$46,407$45,104$43,849$42,641$40,245
4 years$35,463$34,114$32,824$31,591$30,412$28,100
5 years$28,087$26,746$25,473$24,265$23,119$20,898
6 years$23,171$21,840$20,586$19,405$18,293$16,167
7 years$19,661$18,341$17,107$15,954$14,877$12,845
8 years$17,030$15,722$14,508$13,383$12,342$10,404
9 years$14,984$13,689$12,496$11,400$10,394$8,549
10 years$13,349$12,066$10,894$9,827$8,856$7,103
11 years$12,012$10,741$9,591$8,552$7,616$5,953
12 years$10,898$9,641$8,512$7,501$6,600$5,024
13 years$9,957$8,713$7,605$6,623$5,756$4,264
14 years$9,150$7,920$6,833$5,879$5,045$3,636
15 years$8,452$7,235$6,169$5,243$4,442$3,112
16 years$7,842$6,638$5,593$4,694$3,926$2,673
17 years$7,304$6,113$5,090$4,218$3,481$2,301
18 years$6,826$5,649$4,646$3,801$3,095$1,986
19 years$6,399$5,235$4,253$3,435$2,759$1,718
20 years$6,016$4,865$3,904$3,111$2,464$1,488
21 years$5,669$4,531$3,590$2,823$2,205$1,291
22 years$5,354$4,230$3,309$2,567$1,977$1,121
23 years$5,067$3,956$3,055$2,338$1,774$975
24 years$4,805$3,707$2,826$2,132$1,595$849
25 years$4,563$3,478$2,617$1,947$1,435$739
26 years$4,341$3,269$2,427$1,780$1,293$644
27 years$4,135$3,077$2,254$1,630$1,166$562
28 years$3,945$2,899$2,095$1,493$1,052$490
29 years$3,768$2,735$1,950$1,369$950$428
30 years$3,603$2,583$1,816$1,257$858$374
31 years$3,449$2,442$1,693$1,154$776$326
32 years$3,305$2,310$1,580$1,061$702$285
33 years$3,170$2,188$1,475$975$635$249
34 years$3,043$2,074$1,378$897$575$218
35 years$2,924$1,967$1,289$826$521$191
36 years$2,811$1,867$1,205$761$472$167
37 years$2,705$1,773$1,128$701$428$146
38 years$2,605$1,685$1,057$646$388$128
39 years$2,510$1,602$990$596$352$112
40 years$2,420$1,524$928$550$319$98
41 years$2,335$1,451$870$507$289$85
42 years$2,253$1,382$816$468$263$75
43 years$2,176$1,317$766$432$238$65
44 years$2,103$1,255$719$399$216$57
45 years$2,033$1,197$675$368$196$50
46 years$1,966$1,142$634$340$178$44
47 years$1,903$1,090$596$314$162$38
48 years$1,842$1,040$560$290$147$34
49 years$1,784$993$526$268$134$29
50 years$1,728$949$495$248$121$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,770,000, adding $3,447 every year, while hoping to spend $51,897 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: 46/37/17 Blend
61$1,770,000$1,770,000$1,770,000$1,770,000
62$1,954,096$1,860,286$1,832,851$2,034,374
63$2,098,195$1,896,222$1,839,033$2,126,613
64$2,255,254$1,932,179$1,843,683$2,221,125
65$2,426,538$1,968,104$1,846,695$2,322,553
66$2,613,443$2,003,939$1,847,957$2,431,560
67$2,817,503$2,039,621$1,847,353$2,548,880
68$3,040,408$2,075,082$1,844,759$2,675,322
69$3,284,018$2,110,250$1,840,047$2,811,778
70$3,550,382$2,145,046$1,833,082$2,959,233
71$3,841,753$2,179,385$1,823,722$3,118,771
72$4,160,615$2,213,178$1,811,820$3,291,592
73$4,509,701$2,246,328$1,797,220$3,479,014
74$4,892,023$2,278,730$1,779,759$3,682,497
75$5,310,895$2,310,273$1,759,266$3,903,647
76$5,769,968$2,340,838$1,735,563$4,144,238
77$6,273,263$2,370,298$1,708,464$4,406,225
78$6,825,210$2,398,516$1,677,771$4,691,768
79$7,430,685$2,425,347$1,643,280$5,003,245
80$8,095,062$2,450,636$1,604,777$5,343,284
81$8,824,258$2,474,218$1,562,037$5,714,780
82$9,624,793$2,495,915$1,514,826$6,120,929
83$10,503,846$2,515,539$1,462,897$6,565,254
84$11,469,329$2,532,891$1,405,995$7,051,642
85$12,529,955$2,547,758$1,343,850$7,584,382
86$13,695,324$2,559,911$1,276,182$8,168,203
87$14,976,011$2,569,110$1,202,698$8,808,319
88$16,383,666$2,575,099$1,123,090$9,510,484
89$17,931,125$2,577,604$1,037,039$10,281,043
90$19,632,529$2,576,336$944,210$11,126,993
91$21,503,459$2,570,988$844,252$12,056,051
92$23,561,077$2,561,232$736,800$13,076,727
93$25,824,298$2,546,723$621,473$14,198,407
94$28,313,956$2,527,092$497,873$15,431,442
95$31,053,011$2,501,951$365,583$16,787,244
96$34,066,756$2,470,885$224,168$18,278,401
97$37,383,063$2,433,456$73,176$19,918,790
98$41,032,641$2,389,201$0$21,723,715
99$45,049,326$2,337,627$0$23,726,008
100$49,470,400$2,278,213$0$25,943,521