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

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 $1,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$146,165$144,863$143,593$142,353$141,142$140,253
2 years$72,359$71,011$69,705$68,439$67,211$66,313
3 years$47,760$46,407$45,104$43,849$42,641$41,764
4 years$35,463$34,114$32,824$31,591$30,412$29,562
5 years$28,087$26,746$25,473$24,265$23,119$22,298
6 years$23,171$21,840$20,586$19,405$18,293$17,502
7 years$19,661$18,341$17,107$15,954$14,877$14,117
8 years$17,030$15,722$14,508$13,383$12,342$11,613
9 years$14,984$13,689$12,496$11,400$10,394$9,695
10 years$13,349$12,066$10,894$9,827$8,856$8,188
11 years$12,012$10,741$9,591$8,552$7,616$6,978
12 years$10,898$9,641$8,512$7,501$6,600$5,991
13 years$9,957$8,713$7,605$6,623$5,756$5,175
14 years$9,150$7,920$6,833$5,879$5,045$4,492
15 years$8,452$7,235$6,169$5,243$4,442$3,916
16 years$7,842$6,638$5,593$4,694$3,926$3,427
17 years$7,304$6,113$5,090$4,218$3,481$3,007
18 years$6,826$5,649$4,646$3,801$3,095$2,646
19 years$6,399$5,235$4,253$3,435$2,759$2,334
20 years$6,016$4,865$3,904$3,111$2,464$2,062
21 years$5,669$4,531$3,590$2,823$2,205$1,826
22 years$5,354$4,230$3,309$2,567$1,977$1,618
23 years$5,067$3,956$3,055$2,338$1,774$1,437
24 years$4,805$3,707$2,826$2,132$1,595$1,277
25 years$4,563$3,478$2,617$1,947$1,435$1,136
26 years$4,341$3,269$2,427$1,780$1,293$1,011
27 years$4,135$3,077$2,254$1,630$1,166$901
28 years$3,945$2,899$2,095$1,493$1,052$804
29 years$3,768$2,735$1,950$1,369$950$717
30 years$3,603$2,583$1,816$1,257$858$640
31 years$3,449$2,442$1,693$1,154$776$572
32 years$3,305$2,310$1,580$1,061$702$511
33 years$3,170$2,188$1,475$975$635$457
34 years$3,043$2,074$1,378$897$575$408
35 years$2,924$1,967$1,289$826$521$365
36 years$2,811$1,867$1,205$761$472$327
37 years$2,705$1,773$1,128$701$428$293
38 years$2,605$1,685$1,057$646$388$262
39 years$2,510$1,602$990$596$352$235
40 years$2,420$1,524$928$550$319$210
41 years$2,335$1,451$870$507$289$188
42 years$2,253$1,382$816$468$263$168
43 years$2,176$1,317$766$432$238$151
44 years$2,103$1,255$719$399$216$135
45 years$2,033$1,197$675$368$196$121
46 years$1,966$1,142$634$340$178$109
47 years$1,903$1,090$596$314$162$97
48 years$1,842$1,040$560$290$147$87
49 years$1,784$993$526$268$134$78
50 years$1,728$949$495$248$121$70

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 $2,231 every year, while hoping to spend $55,943 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: 74/17/9 Blend
61$1,770,000$1,770,000$1,770,000$1,770,000
62$1,952,841$1,859,031$1,831,596$2,094,190
63$2,092,508$1,890,601$1,833,432$2,219,254
64$2,244,546$1,921,842$1,833,454$2,348,974
65$2,410,158$1,952,681$1,831,543$2,489,517
66$2,590,667$1,983,035$1,827,572$2,641,936
67$2,787,530$2,012,819$1,821,411$2,807,391
68$3,002,351$2,041,940$1,812,921$2,987,160
69$3,236,894$2,070,298$1,801,958$3,182,653
70$3,493,102$2,097,788$1,788,368$3,395,420
71$3,773,114$2,124,295$1,771,993$3,627,170
72$4,079,284$2,149,697$1,752,667$3,879,786
73$4,414,204$2,173,866$1,730,215$4,155,344
74$4,780,730$2,196,662$1,704,454$4,456,130
75$5,182,004$2,217,938$1,675,193$4,784,662
76$5,621,488$2,237,536$1,642,231$5,143,717
77$6,102,992$2,255,289$1,605,359$5,536,354
78$6,630,716$2,271,017$1,564,357$5,965,945
79$7,209,282$2,284,530$1,518,996$6,436,204
80$7,843,783$2,295,625$1,469,036$6,951,225
81$8,539,825$2,304,087$1,414,226$7,515,521
82$9,303,588$2,309,688$1,354,302$8,134,063
83$10,141,874$2,312,182$1,288,991$8,812,332
84$11,062,178$2,311,313$1,218,006$9,556,367
85$12,072,758$2,306,805$1,141,047$10,372,824
86$13,182,707$2,298,366$1,057,800$11,269,040
87$14,402,045$2,285,688$967,938$12,253,098
88$15,741,808$2,268,441$871,118$13,333,909
89$17,214,156$2,246,278$766,984$14,521,295
90$18,832,483$2,218,829$655,162$15,826,077
91$20,611,549$2,185,704$535,262$17,260,186
92$22,567,611$2,146,488$406,877$18,836,768
93$24,718,582$2,100,741$269,583$20,570,314
94$27,084,198$2,047,998$122,935$22,476,793
95$29,686,204$1,987,767$0$24,573,808
96$32,548,555$1,919,526$0$26,883,979
97$35,697,649$1,842,723$0$29,438,274
98$39,162,568$1,756,776$0$32,248,485
99$42,975,357$1,661,065$0$35,340,636
100$47,171,324$1,554,938$0$38,743,403