Can I retire at age 62 with 1,830,000?

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 $1,830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12%
1 years$151,120$149,774$148,460$147,178$145,927$144,704
2 years$74,812$73,418$72,068$70,759$69,489$68,257
3 years$49,379$47,980$46,633$45,336$44,087$42,883
4 years$36,665$35,270$33,937$32,662$31,443$30,277
5 years$29,039$27,652$26,336$25,088$23,902$22,778
6 years$23,956$22,580$21,284$20,063$18,913$17,831
7 years$20,327$18,963$17,687$16,495$15,381$14,343
8 years$17,607$16,255$15,000$13,837$12,760$11,765
9 years$15,492$14,153$12,919$11,786$10,746$9,793
10 years$13,801$12,475$11,263$10,160$9,156$8,246
11 years$12,419$11,106$9,916$8,842$7,875$7,006
12 years$11,267$9,968$8,800$7,756$6,824$5,996
13 years$10,294$9,008$7,862$6,847$5,951$5,163
14 years$9,460$8,188$7,064$6,078$5,216$4,467
15 years$8,739$7,480$6,378$5,421$4,593$3,882
16 years$8,108$6,863$5,783$4,853$4,059$3,385
17 years$7,551$6,320$5,262$4,361$3,599$2,960
18 years$7,058$5,840$4,804$3,930$3,200$2,596
19 years$6,616$5,413$4,398$3,551$2,852$2,281
20 years$6,220$5,030$4,036$3,216$2,548$2,008
21 years$5,861$4,685$3,712$2,919$2,280$1,771
22 years$5,536$4,373$3,421$2,654$2,044$1,564
23 years$5,239$4,090$3,159$2,417$1,835$1,383
24 years$4,967$3,832$2,922$2,204$1,649$1,225
25 years$4,718$3,596$2,706$2,013$1,484$1,085
26 years$4,488$3,380$2,510$1,841$1,337$963
27 years$4,276$3,181$2,330$1,685$1,205$854
28 years$4,079$2,997$2,166$1,544$1,087$759
29 years$3,896$2,828$2,016$1,416$982$674
30 years$3,725$2,670$1,878$1,299$887$600
31 years$3,566$2,524$1,751$1,193$802$533
32 years$3,417$2,389$1,633$1,097$726$475
33 years$3,277$2,262$1,525$1,008$657$423
34 years$3,146$2,144$1,425$928$594$376
35 years$3,023$2,034$1,332$854$538$335
36 years$2,906$1,930$1,246$787$488$299
37 years$2,797$1,833$1,167$725$442$266
38 years$2,693$1,742$1,092$668$401$237
39 years$2,595$1,657$1,023$616$364$212
40 years$2,502$1,576$959$568$330$189
41 years$2,414$1,500$899$524$299$168
42 years$2,330$1,429$844$484$271$150
43 years$2,250$1,361$792$447$246$134
44 years$2,174$1,298$743$412$224$119
45 years$2,102$1,237$698$381$203$107
46 years$2,033$1,181$655$352$184$95
47 years$1,967$1,127$616$325$167$85
48 years$1,904$1,075$579$300$152$76
49 years$1,844$1,027$544$278$138$68
50 years$1,787$981$511$257$125$60

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,830,000, adding $4,776 every year, while hoping to spend $57,424 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: 80/7/13 Blend
61$1,830,000$1,830,000$1,830,000$1,830,000
62$2,021,586$1,924,596$1,896,231$2,177,882
63$2,166,690$1,957,803$1,898,657$2,314,470
64$2,324,669$1,990,712$1,899,238$2,456,411
65$2,496,776$2,023,248$1,897,854$2,610,522
66$2,684,391$2,055,331$1,894,376$2,777,995
67$2,889,030$2,086,874$1,888,669$2,960,143
68$3,112,364$2,117,783$1,880,592$3,158,413
69$3,356,231$2,147,960$1,869,997$3,374,399
70$3,622,653$2,177,297$1,856,729$3,609,856
71$3,913,859$2,205,680$1,840,625$3,866,718
72$4,232,302$2,232,987$1,821,515$4,147,115
73$4,580,682$2,259,089$1,799,220$4,453,395
74$4,961,971$2,283,844$1,773,555$4,788,144
75$5,379,446$2,307,106$1,744,322$5,154,212
76$5,836,710$2,328,715$1,711,318$5,554,739
77$6,337,735$2,348,503$1,674,328$5,993,183
78$6,886,894$2,366,289$1,633,127$6,473,357
79$7,489,002$2,381,882$1,587,482$6,999,462
80$8,149,364$2,395,078$1,537,146$7,576,126
81$8,873,822$2,405,660$1,481,863$8,208,449
82$9,668,811$2,413,396$1,421,365$8,902,052
83$10,541,419$2,418,043$1,355,371$9,663,128
84$11,499,456$2,419,338$1,283,587$10,498,503
85$12,551,520$2,417,005$1,205,707$11,415,698
86$13,707,087$2,410,751$1,121,410$12,423,002
87$14,976,594$2,400,262$1,030,362$13,529,547
88$16,371,540$2,385,208$932,212$14,745,401
89$17,904,591$2,365,237$826,595$16,081,656
90$19,589,703$2,339,977$713,130$17,550,536
91$21,442,250$2,309,033$591,417$19,165,514
92$23,479,169$2,271,986$461,039$20,941,435
93$25,719,124$2,228,393$321,564$22,894,662
94$28,182,674$2,177,784$172,536$25,043,225
95$30,892,473$2,119,661$13,481$27,406,996
96$33,873,479$2,053,498$0$30,007,873
97$37,153,191$1,978,737$0$32,891,665
98$40,761,910$1,894,788$0$36,066,699
99$44,733,019$1,801,028$0$39,560,488
100$49,103,304$1,696,794$0$43,405,412