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

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 $1,880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$155,249$153,866$152,517$151,200$149,914$147,249
2 years$76,856$75,424$74,037$72,692$71,388$68,711
3 years$50,728$49,291$47,907$46,575$45,291$42,688
4 years$37,667$36,234$34,864$33,554$32,302$29,791
5 years$29,832$28,408$27,056$25,773$24,556$22,144
6 years$24,611$23,197$21,865$20,611$19,430$17,121
7 years$20,883$19,481$18,170$16,945$15,802$13,596
8 years$18,088$16,699$15,410$14,215$13,109$11,006
9 years$15,915$14,539$13,272$12,108$11,040$9,038
10 years$14,178$12,816$11,571$10,437$9,406$7,504
11 years$12,758$11,409$10,187$9,084$8,090$6,285
12 years$11,575$10,240$9,041$7,967$7,010$5,301
13 years$10,575$9,254$8,077$7,034$6,113$4,496
14 years$9,719$8,412$7,257$6,244$5,359$3,831
15 years$8,977$7,684$6,553$5,569$4,718$3,277
16 years$8,329$7,050$5,941$4,986$4,170$2,813
17 years$7,758$6,493$5,406$4,480$3,697$2,420
18 years$7,250$6,000$4,935$4,037$3,288$2,087
19 years$6,797$5,560$4,518$3,648$2,930$1,804
20 years$6,390$5,167$4,146$3,304$2,617$1,561
21 years$6,021$4,813$3,814$2,999$2,342$1,354
22 years$5,687$4,493$3,515$2,726$2,100$1,175
23 years$5,382$4,202$3,245$2,483$1,885$1,021
24 years$5,103$3,937$3,001$2,265$1,694$888
25 years$4,847$3,695$2,780$2,068$1,524$772
26 years$4,611$3,472$2,578$1,891$1,373$673
27 years$4,392$3,268$2,394$1,731$1,238$586
28 years$4,190$3,079$2,226$1,586$1,117$511
29 years$4,002$2,905$2,071$1,454$1,009$446
30 years$3,827$2,743$1,929$1,335$911$389
31 years$3,663$2,593$1,799$1,226$824$340
32 years$3,510$2,454$1,678$1,127$745$296
33 years$3,367$2,324$1,567$1,036$675$259
34 years$3,232$2,203$1,464$953$611$226
35 years$3,105$2,089$1,369$877$553$198
36 years$2,986$1,983$1,280$808$501$173
37 years$2,873$1,883$1,198$745$454$151
38 years$2,767$1,790$1,122$686$412$132
39 years$2,666$1,702$1,051$633$373$115
40 years$2,570$1,619$985$584$339$101
41 years$2,480$1,541$924$538$307$88
42 years$2,394$1,468$867$497$279$77
43 years$2,312$1,399$813$459$253$67
44 years$2,234$1,333$764$424$230$59
45 years$2,159$1,271$717$391$209$52
46 years$2,089$1,213$673$361$189$45
47 years$2,021$1,157$633$334$172$39
48 years$1,956$1,105$594$308$156$35
49 years$1,895$1,055$559$285$142$30
50 years$1,836$1,008$525$264$129$26

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 $6,893 every year, while hoping to spend $20,377 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: 33/41/26 Blend
61$1,880,000$1,880,000$1,880,000$1,880,000
62$2,078,870$1,979,230$1,950,090$2,130,814
63$2,269,234$2,054,531$1,993,737$2,245,954
64$2,478,332$2,132,840$2,038,163$2,367,655
65$2,708,053$2,214,280$2,083,374$2,498,415
66$2,960,480$2,298,985$2,129,372$2,639,048
67$3,237,904$2,387,091$2,176,161$2,790,449
68$3,542,853$2,478,740$2,223,745$2,953,599
69$3,878,108$2,574,083$2,272,125$3,129,574
70$4,246,737$2,673,276$2,321,303$3,319,558
71$4,652,118$2,776,480$2,371,280$3,524,848
72$5,097,973$2,883,866$2,422,056$3,746,871
73$5,588,401$2,995,610$2,473,631$3,987,196
74$6,127,922$3,111,900$2,526,002$4,247,544
75$6,721,514$3,232,926$2,579,166$4,529,808
76$7,374,661$3,358,892$2,633,121$4,836,068
77$8,093,407$3,490,009$2,687,861$5,168,612
78$8,884,411$3,626,495$2,743,381$5,529,954
79$9,755,010$3,768,582$2,799,673$5,922,861
80$10,713,288$3,916,510$2,856,729$6,350,372
81$11,768,153$4,070,529$2,914,539$6,815,833
82$12,929,421$4,230,901$2,973,093$7,322,923
83$14,207,907$4,397,901$3,032,377$7,875,689
84$15,615,529$4,571,813$3,092,377$8,478,585
85$17,165,419$4,752,938$3,153,077$9,136,510
86$18,872,046$4,941,586$3,214,459$9,854,856
87$20,751,355$5,138,084$3,276,504$10,639,557
88$22,820,916$5,342,773$3,339,190$11,497,142
89$25,100,090$5,556,009$3,402,493$12,434,800
90$27,610,209$5,778,164$3,466,387$13,460,441
91$30,374,783$6,009,626$3,530,843$14,582,774
92$33,419,716$6,250,803$3,595,832$15,811,387
93$36,773,553$6,502,119$3,661,318$17,156,833
94$40,467,750$6,764,017$3,727,267$18,630,734
95$44,536,969$7,036,962$3,793,639$20,245,883
96$49,019,406$7,321,439$3,860,391$22,016,369
97$53,957,151$7,617,955$3,927,480$23,957,704
98$59,396,585$7,927,040$3,994,855$26,086,970
99$65,388,819$8,249,247$4,062,466$28,422,978
100$71,990,176$8,585,157$4,130,255$30,986,445