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

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 $1,840,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$151,945$150,592$149,272$147,983$146,724$143,177
2 years$75,221$73,820$72,462$71,146$69,869$66,316
3 years$49,649$48,242$46,888$45,584$44,328$40,881
4 years$36,866$35,463$34,122$32,840$31,615$28,301
5 years$29,198$27,803$26,480$25,225$24,033$20,861
6 years$24,087$22,704$21,400$20,172$19,017$15,989
7 years$20,438$19,066$17,783$16,585$15,466$12,583
8 years$17,703$16,343$15,082$13,913$12,830$10,092
9 years$15,577$14,230$12,990$11,850$10,805$8,208
10 years$13,877$12,543$11,325$10,215$9,206$6,748
11 years$12,487$11,166$9,970$8,890$7,918$5,595
12 years$11,329$10,022$8,848$7,798$6,861$4,670
13 years$10,350$9,057$7,905$6,884$5,983$3,919
14 years$9,512$8,233$7,103$6,111$5,245$3,303
15 years$8,786$7,521$6,413$5,450$4,618$2,794
16 years$8,152$6,900$5,814$4,880$4,081$2,371
17 years$7,593$6,355$5,291$4,385$3,619$2,017
18 years$7,096$5,872$4,830$3,951$3,218$1,719
19 years$6,652$5,442$4,422$3,570$2,868$1,468
20 years$6,254$5,057$4,058$3,234$2,562$1,256
21 years$5,893$4,711$3,732$2,935$2,292$1,075
22 years$5,566$4,397$3,440$2,668$2,055$922
23 years$5,268$4,113$3,176$2,430$1,845$791
24 years$4,995$3,853$2,938$2,216$1,658$679
25 years$4,744$3,616$2,721$2,024$1,492$584
26 years$4,513$3,398$2,523$1,851$1,344$502
27 years$4,299$3,198$2,343$1,694$1,212$432
28 years$4,101$3,014$2,178$1,552$1,093$372
29 years$3,917$2,843$2,027$1,423$987$320
30 years$3,745$2,685$1,888$1,306$892$275
31 years$3,585$2,538$1,760$1,200$806$237
32 years$3,436$2,402$1,642$1,103$729$204
33 years$3,295$2,274$1,533$1,014$660$176
34 years$3,163$2,156$1,433$933$598$152
35 years$3,039$2,045$1,340$859$541$131
36 years$2,922$1,941$1,253$791$491$113
37 years$2,812$1,843$1,173$729$445$97
38 years$2,708$1,752$1,098$672$403$84
39 years$2,609$1,666$1,029$619$365$72
40 years$2,516$1,585$965$571$332$62
41 years$2,427$1,509$904$527$301$54
42 years$2,343$1,437$848$486$273$46
43 years$2,262$1,369$796$449$248$40
44 years$2,186$1,305$747$415$225$35
45 years$2,114$1,244$702$383$204$30
46 years$2,044$1,187$659$354$185$26
47 years$1,978$1,133$619$327$168$22
48 years$1,915$1,081$582$302$153$19
49 years$1,854$1,033$547$279$139$17
50 years$1,796$986$514$258$126$14

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 $2,713 every year, while hoping to spend $37,816 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: 52/22/26 Blend
61$1,840,000$1,840,000$1,840,000$1,840,000
62$2,030,478$1,932,958$1,904,438$2,121,172
63$2,197,351$1,987,437$1,928,001$2,238,823
64$2,379,978$2,043,319$1,951,086$2,362,666
65$2,579,925$2,100,630$1,973,637$2,496,625
66$2,798,918$2,159,402$1,995,594$2,641,678
67$3,038,857$2,219,663$2,016,896$2,798,904
68$3,301,836$2,281,441$2,037,477$2,969,493
69$3,590,158$2,344,766$2,057,268$3,154,753
70$3,906,362$2,409,668$2,076,194$3,356,125
71$4,253,244$2,476,175$2,094,180$3,575,198
72$4,633,884$2,544,317$2,111,144$3,813,722
73$5,051,674$2,614,122$2,127,001$4,073,624
74$5,510,350$2,685,619$2,141,661$4,357,029
75$6,014,029$2,758,837$2,155,029$4,666,276
76$6,567,243$2,833,804$2,167,007$5,003,942
77$7,174,989$2,910,547$2,177,488$5,372,870
78$7,842,768$2,989,095$2,186,364$5,776,188
79$8,576,643$3,069,472$2,193,520$6,217,346
80$9,383,291$3,151,707$2,198,833$6,700,144
81$10,270,069$3,235,824$2,202,177$7,228,771
82$11,245,084$3,321,847$2,203,418$7,807,840
83$12,317,266$3,409,801$2,202,416$8,442,438
84$13,496,454$3,499,707$2,199,023$9,138,167
85$14,793,488$3,591,589$2,193,086$9,901,205
86$16,220,312$3,685,465$2,184,442$10,738,356
87$17,790,085$3,781,354$2,172,923$11,657,120
88$19,517,307$3,879,274$2,158,349$12,665,763
89$21,417,954$3,979,240$2,140,535$13,773,393
90$23,509,628$4,081,265$2,119,286$14,990,047
91$25,811,724$4,185,362$2,094,397$16,326,788
92$28,345,614$4,291,539$2,065,653$17,795,807
93$31,134,846$4,399,803$2,032,831$19,410,540
94$34,205,365$4,510,158$1,995,696$21,185,793
95$37,585,762$4,622,606$1,954,002$23,137,883
96$41,307,541$4,737,144$1,907,492$25,284,795
97$45,405,414$4,853,768$1,855,896$27,646,346
98$49,917,632$4,972,468$1,798,934$30,244,378
99$54,886,343$5,093,232$1,736,312$33,102,963
100$60,357,992$5,216,042$1,667,720$36,248,629