Can I retire at age 62 with 1,880,000?

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 $1,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$155,249$153,866$152,517$151,200$149,914$149,282
2 years$76,856$75,424$74,037$72,692$71,388$70,750
3 years$50,728$49,291$47,907$46,575$45,291$44,667
4 years$37,667$36,234$34,864$33,554$32,302$31,697
5 years$29,832$28,408$27,056$25,773$24,556$23,970
6 years$24,611$23,197$21,865$20,611$19,430$18,866
7 years$20,883$19,481$18,170$16,945$15,802$15,259
8 years$18,088$16,699$15,410$14,215$13,109$12,588
9 years$15,915$14,539$13,272$12,108$11,040$10,540
10 years$14,178$12,816$11,571$10,437$9,406$8,927
11 years$12,758$11,409$10,187$9,084$8,090$7,631
12 years$11,575$10,240$9,041$7,967$7,010$6,572
13 years$10,575$9,254$8,077$7,034$6,113$5,695
14 years$9,719$8,412$7,257$6,244$5,359$4,960
15 years$8,977$7,684$6,553$5,569$4,718$4,339
16 years$8,329$7,050$5,941$4,986$4,170$3,809
17 years$7,758$6,493$5,406$4,480$3,697$3,355
18 years$7,250$6,000$4,935$4,037$3,288$2,962
19 years$6,797$5,560$4,518$3,648$2,930$2,622
20 years$6,390$5,167$4,146$3,304$2,617$2,325
21 years$6,021$4,813$3,814$2,999$2,342$2,066
22 years$5,687$4,493$3,515$2,726$2,100$1,838
23 years$5,382$4,202$3,245$2,483$1,885$1,638
24 years$5,103$3,937$3,001$2,265$1,694$1,461
25 years$4,847$3,695$2,780$2,068$1,524$1,305
26 years$4,611$3,472$2,578$1,891$1,373$1,166
27 years$4,392$3,268$2,394$1,731$1,238$1,043
28 years$4,190$3,079$2,226$1,586$1,117$934
29 years$4,002$2,905$2,071$1,454$1,009$837
30 years$3,827$2,743$1,929$1,335$911$750
31 years$3,663$2,593$1,799$1,226$824$673
32 years$3,510$2,454$1,678$1,127$745$604
33 years$3,367$2,324$1,567$1,036$675$542
34 years$3,232$2,203$1,464$953$611$487
35 years$3,105$2,089$1,369$877$553$437
36 years$2,986$1,983$1,280$808$501$393
37 years$2,873$1,883$1,198$745$454$353
38 years$2,767$1,790$1,122$686$412$317
39 years$2,666$1,702$1,051$633$373$285
40 years$2,570$1,619$985$584$339$257
41 years$2,480$1,541$924$538$307$231
42 years$2,394$1,468$867$497$279$208
43 years$2,312$1,399$813$459$253$187
44 years$2,234$1,333$764$424$230$168
45 years$2,159$1,271$717$391$209$151
46 years$2,089$1,213$673$361$189$136
47 years$2,021$1,157$633$334$172$123
48 years$1,956$1,105$594$308$156$110
49 years$1,895$1,055$559$285$142$99
50 years$1,836$1,008$525$264$129$89

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,880,000, adding $3,891 every year, while hoping to spend $48,220 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: 30/46/24 Blend
61$1,880,000$1,880,000$1,880,000$1,880,000
62$2,075,774$1,976,134$1,946,994$2,122,501
63$2,236,197$2,021,658$1,960,912$2,204,341
64$2,411,367$2,067,798$1,973,681$2,287,783
65$2,602,738$2,114,531$1,985,210$2,376,562
66$2,811,908$2,161,835$1,995,406$2,471,174
67$3,040,641$2,209,682$2,004,170$2,572,164
68$3,290,875$2,258,045$2,011,398$2,680,133
69$3,564,745$2,306,890$2,016,981$2,795,744
70$3,864,603$2,356,182$2,020,805$2,919,730
71$4,193,039$2,405,882$2,022,748$3,052,898
72$4,552,904$2,455,945$2,022,685$3,196,138
73$4,947,339$2,506,325$2,020,484$3,350,433
74$5,379,803$2,556,970$2,016,005$3,516,868
75$5,854,104$2,607,823$2,009,103$3,696,638
76$6,374,440$2,658,823$1,999,625$3,891,063
77$6,945,431$2,709,904$1,987,410$4,101,599
78$7,572,168$2,760,993$1,972,292$4,329,854
79$8,260,259$2,812,011$1,954,093$4,577,599
80$9,015,881$2,862,875$1,932,631$4,846,790
81$9,845,838$2,913,493$1,907,711$5,139,585
82$10,757,627$2,963,767$1,879,133$5,458,366
83$11,759,504$3,013,592$1,846,683$5,805,758
84$12,860,568$3,062,852$1,810,142$6,184,660
85$14,070,840$3,111,426$1,769,276$6,598,269
86$15,401,363$3,159,184$1,723,844$7,050,111
87$16,864,302$3,205,983$1,673,592$7,544,078
88$18,473,058$3,251,673$1,618,254$8,084,463
89$20,242,397$3,296,093$1,557,554$8,675,999
90$22,188,590$3,339,070$1,491,200$9,323,912
91$24,329,561$3,380,418$1,418,890$10,033,961
92$26,685,059$3,419,942$1,340,306$10,812,505
93$29,276,845$3,457,430$1,255,116$11,666,551
94$32,128,896$3,492,656$1,162,975$12,603,833
95$35,267,629$3,525,382$1,063,520$13,632,880
96$38,722,153$3,555,351$956,374$14,763,097
97$42,524,541$3,582,292$841,141$16,004,859
98$46,710,133$3,605,913$717,408$17,369,607
99$51,317,871$3,625,907$584,745$18,869,960
100$56,390,661$3,641,944$442,702$20,519,833