Can I retire at age 62 with 1,890,000?

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 $1,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$156,074$154,684$153,328$152,004$150,711$149,075
2 years$77,265$75,826$74,431$73,079$71,767$70,120
3 years$50,998$49,553$48,162$46,822$45,532$43,925
4 years$37,867$36,427$35,049$33,733$32,474$30,919
5 years$29,991$28,559$27,200$25,910$24,686$23,188
6 years$24,742$23,320$21,981$20,720$19,533$18,094
7 years$20,994$19,585$18,267$17,035$15,886$14,505
8 years$18,184$16,788$15,492$14,291$13,179$11,858
9 years$16,000$14,617$13,343$12,172$11,098$9,836
10 years$14,254$12,884$11,633$10,493$9,456$8,252
11 years$12,826$11,470$10,241$9,132$8,133$6,985
12 years$11,637$10,295$9,089$8,010$7,048$5,956
13 years$10,632$9,303$8,120$7,071$6,146$5,108
14 years$9,771$8,456$7,296$6,277$5,387$4,402
15 years$9,025$7,725$6,587$5,598$4,743$3,810
16 years$8,373$7,088$5,972$5,013$4,192$3,308
17 years$7,799$6,527$5,435$4,504$3,717$2,881
18 years$7,289$6,032$4,961$4,059$3,305$2,516
19 years$6,833$5,590$4,542$3,667$2,946$2,201
20 years$6,424$5,195$4,168$3,322$2,631$1,930
21 years$6,053$4,839$3,834$3,015$2,355$1,694
22 years$5,717$4,517$3,534$2,741$2,111$1,490
23 years$5,411$4,224$3,263$2,496$1,895$1,311
24 years$5,130$3,958$3,017$2,277$1,703$1,156
25 years$4,873$3,714$2,795$2,079$1,532$1,019
26 years$4,635$3,491$2,592$1,901$1,380$900
27 years$4,416$3,285$2,407$1,740$1,245$795
28 years$4,212$3,096$2,237$1,594$1,123$703
29 years$4,023$2,920$2,082$1,462$1,014$621
30 years$3,847$2,758$1,939$1,342$916$550
31 years$3,683$2,607$1,808$1,232$828$487
32 years$3,529$2,467$1,687$1,133$749$431
33 years$3,385$2,336$1,575$1,041$678$382
34 years$3,249$2,214$1,472$958$614$338
35 years$3,122$2,100$1,376$882$556$300
36 years$3,002$1,993$1,287$812$504$266
37 years$2,888$1,893$1,205$749$457$236
38 years$2,781$1,799$1,128$690$414$209
39 years$2,680$1,711$1,057$636$375$185
40 years$2,584$1,628$991$587$341$164
41 years$2,493$1,550$929$541$309$146
42 years$2,406$1,476$871$500$280$129
43 years$2,324$1,406$818$461$254$115
44 years$2,246$1,340$768$426$231$102
45 years$2,171$1,278$721$393$210$90
46 years$2,100$1,219$677$363$190$80
47 years$2,032$1,164$636$336$173$71
48 years$1,967$1,111$598$310$157$63
49 years$1,905$1,061$562$287$143$56
50 years$1,845$1,013$528$265$129$50

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,890,000, adding $6,705 every year, while hoping to spend $27,079 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: 56/22/22 Blend
61$1,890,000$1,890,000$1,890,000$1,890,000
62$2,089,696$1,989,526$1,960,231$2,193,913
63$2,274,033$2,058,201$1,997,087$2,334,589
64$2,476,265$2,129,334$2,034,270$2,484,329
65$2,698,189$2,203,015$2,071,763$2,646,882
66$2,941,783$2,279,342$2,109,545$2,823,487
67$3,209,227$2,358,412$2,147,598$3,015,507
68$3,502,924$2,440,330$2,185,898$3,224,444
69$3,825,518$2,525,201$2,224,421$3,451,948
70$4,179,923$2,613,138$2,263,141$3,699,839
71$4,569,349$2,704,257$2,302,031$3,970,117
72$4,997,334$2,798,677$2,341,060$4,264,988
73$5,467,774$2,896,524$2,380,198$4,586,875
74$5,984,961$2,997,928$2,419,408$4,938,452
75$6,553,625$3,103,024$2,458,656$5,322,660
76$7,178,975$3,211,952$2,497,902$5,742,737
77$7,866,753$3,324,861$2,537,104$6,202,251
78$8,623,284$3,441,900$2,576,218$6,705,131
79$9,455,535$3,563,230$2,615,198$7,255,701
80$10,371,185$3,689,014$2,653,993$7,858,729
81$11,378,694$3,819,423$2,692,549$8,519,461
82$12,487,383$3,954,637$2,730,812$9,243,679
83$13,707,521$4,094,840$2,768,720$10,037,749
84$15,050,427$4,240,225$2,806,210$10,908,686
85$16,528,568$4,390,994$2,843,215$11,864,216
86$18,155,683$4,547,354$2,879,665$12,912,849
87$19,946,913$4,709,524$2,915,484$14,063,962
88$21,918,937$4,877,730$2,950,592$15,327,882
89$24,090,138$5,052,208$2,984,905$16,715,989
90$26,480,767$5,233,202$3,018,335$18,240,819
91$29,113,145$5,420,968$3,050,788$19,916,181
92$32,011,862$5,615,771$3,082,166$21,757,291
93$35,204,017$5,817,889$3,112,364$23,780,912
94$38,719,471$6,027,610$3,141,272$26,005,515
95$42,591,127$6,245,233$3,168,775$28,451,447
96$46,855,244$6,471,072$3,194,751$31,141,128
97$51,551,775$6,705,450$3,219,072$34,099,261
98$56,724,748$6,948,709$3,241,602$37,353,063
99$62,422,676$7,201,199$3,262,199$40,932,524
100$68,699,021$7,463,290$3,280,715$44,870,686