Can I retire at age 62 with 1,840,000?

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 $1,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$151,945$150,592$149,272$147,983$146,724$144,591
2 years$75,221$73,820$72,462$71,146$69,869$67,724
3 years$49,649$48,242$46,888$45,584$44,328$42,238
4 years$36,866$35,463$34,122$32,840$31,615$29,597
5 years$29,198$27,803$26,480$25,225$24,033$22,092
6 years$24,087$22,704$21,400$20,172$19,017$17,155
7 years$20,438$19,066$17,783$16,585$15,466$13,684
8 years$17,703$16,343$15,082$13,913$12,830$11,129
9 years$15,577$14,230$12,990$11,850$10,805$9,182
10 years$13,877$12,543$11,325$10,215$9,206$7,661
11 years$12,487$11,166$9,970$8,890$7,918$6,449
12 years$11,329$10,022$8,848$7,798$6,861$5,467
13 years$10,350$9,057$7,905$6,884$5,983$4,662
14 years$9,512$8,233$7,103$6,111$5,245$3,994
15 years$8,786$7,521$6,413$5,450$4,618$3,435
16 years$8,152$6,900$5,814$4,880$4,081$2,964
17 years$7,593$6,355$5,291$4,385$3,619$2,566
18 years$7,096$5,872$4,830$3,951$3,218$2,226
19 years$6,652$5,442$4,422$3,570$2,868$1,935
20 years$6,254$5,057$4,058$3,234$2,562$1,685
21 years$5,893$4,711$3,732$2,935$2,292$1,469
22 years$5,566$4,397$3,440$2,668$2,055$1,283
23 years$5,268$4,113$3,176$2,430$1,845$1,122
24 years$4,995$3,853$2,938$2,216$1,658$981
25 years$4,744$3,616$2,721$2,024$1,492$860
26 years$4,513$3,398$2,523$1,851$1,344$753
27 years$4,299$3,198$2,343$1,694$1,212$661
28 years$4,101$3,014$2,178$1,552$1,093$580
29 years$3,917$2,843$2,027$1,423$987$509
30 years$3,745$2,685$1,888$1,306$892$447
31 years$3,585$2,538$1,760$1,200$806$393
32 years$3,436$2,402$1,642$1,103$729$345
33 years$3,295$2,274$1,533$1,014$660$304
34 years$3,163$2,156$1,433$933$598$267
35 years$3,039$2,045$1,340$859$541$235
36 years$2,922$1,941$1,253$791$491$207
37 years$2,812$1,843$1,173$729$445$182
38 years$2,708$1,752$1,098$672$403$160
39 years$2,609$1,666$1,029$619$365$141
40 years$2,516$1,585$965$571$332$124
41 years$2,427$1,509$904$527$301$109
42 years$2,343$1,437$848$486$273$96
43 years$2,262$1,369$796$449$248$85
44 years$2,186$1,305$747$415$225$75
45 years$2,114$1,244$702$383$204$66
46 years$2,044$1,187$659$354$185$58
47 years$1,978$1,133$619$327$168$51
48 years$1,915$1,081$582$302$153$45
49 years$1,854$1,033$547$279$139$39
50 years$1,796$986$514$258$126$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,840,000, adding $2,220 every year, while hoping to spend $56,448 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: 41/41/18 Blend
61$1,840,000$1,840,000$1,840,000$1,840,000
62$2,029,970$1,932,450$1,903,930$2,102,341
63$2,176,967$1,967,080$1,907,651$2,188,579
64$2,337,065$2,001,515$1,909,606$2,276,217
65$2,511,542$2,035,685$1,909,674$2,369,891
66$2,701,803$2,069,517$1,907,731$2,470,181
67$2,909,394$2,102,930$1,903,647$2,577,727
68$3,136,017$2,135,839$1,897,285$2,693,235
69$3,383,547$2,168,151$1,888,500$2,817,487
70$3,654,046$2,199,768$1,877,142$2,951,344
71$3,949,785$2,230,583$1,863,052$3,095,757
72$4,273,265$2,260,484$1,846,067$3,251,776
73$4,627,239$2,289,348$1,826,011$3,420,562
74$5,014,738$2,317,047$1,802,703$3,603,394
75$5,439,102$2,343,443$1,775,954$3,801,687
76$5,904,005$2,368,386$1,745,563$4,017,001
77$6,413,497$2,391,721$1,711,323$4,251,058
78$6,972,037$2,413,278$1,673,016$4,505,761
79$7,584,535$2,432,880$1,630,412$4,783,210
80$8,256,401$2,450,334$1,583,274$5,085,721
81$8,993,592$2,465,438$1,531,351$5,415,853
82$9,802,670$2,477,976$1,474,383$5,776,430
83$10,690,863$2,487,718$1,412,096$6,170,568
84$11,666,134$2,494,419$1,344,204$6,601,706
85$12,737,254$2,497,820$1,270,409$7,073,641
86$13,913,885$2,497,644$1,190,399$7,590,561
87$15,206,672$2,493,599$1,103,848$8,157,089
88$16,627,340$2,485,373$1,010,415$8,778,327
89$18,188,809$2,472,637$909,744$9,459,903
90$19,905,310$2,455,038$801,463$10,208,028
91$21,792,523$2,432,207$685,184$11,029,555
92$23,867,724$2,403,748$560,500$11,932,043
93$26,149,944$2,369,245$426,990$12,923,836
94$28,660,154$2,328,253$284,209$14,014,133
95$31,421,457$2,280,305$131,698$15,213,087
96$34,459,309$2,224,903$0$16,531,897
97$37,801,758$2,161,522$0$17,988,880
98$41,479,705$2,089,604$0$19,619,078
99$45,527,201$2,008,561$0$21,412,300
100$49,981,763$1,917,769$0$23,385,229