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

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 $1,890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$156,074$154,684$153,328$152,004$150,711$145,712
2 years$77,265$75,826$74,431$73,079$71,767$66,779
3 years$50,998$49,553$48,162$46,822$45,532$40,712
4 years$37,867$36,427$35,049$33,733$32,474$27,858
5 years$29,991$28,559$27,200$25,910$24,686$20,287
6 years$24,742$23,320$21,981$20,720$19,533$15,355
7 years$20,994$19,585$18,267$17,035$15,886$11,927
8 years$18,184$16,788$15,492$14,291$13,179$9,437
9 years$16,000$14,617$13,343$12,172$11,098$7,569
10 years$14,254$12,884$11,633$10,493$9,456$6,134
11 years$12,826$11,470$10,241$9,132$8,133$5,011
12 years$11,637$10,295$9,089$8,010$7,048$4,120
13 years$10,632$9,303$8,120$7,071$6,146$3,404
14 years$9,771$8,456$7,296$6,277$5,387$2,824
15 years$9,025$7,725$6,587$5,598$4,743$2,351
16 years$8,373$7,088$5,972$5,013$4,192$1,962
17 years$7,799$6,527$5,435$4,504$3,717$1,641
18 years$7,289$6,032$4,961$4,059$3,305$1,375
19 years$6,833$5,590$4,542$3,667$2,946$1,154
20 years$6,424$5,195$4,168$3,322$2,631$970
21 years$6,053$4,839$3,834$3,015$2,355$816
22 years$5,717$4,517$3,534$2,741$2,111$687
23 years$5,411$4,224$3,263$2,496$1,895$579
24 years$5,130$3,958$3,017$2,277$1,703$488
25 years$4,873$3,714$2,795$2,079$1,532$412
26 years$4,635$3,491$2,592$1,901$1,380$348
27 years$4,416$3,285$2,407$1,740$1,245$294
28 years$4,212$3,096$2,237$1,594$1,123$248
29 years$4,023$2,920$2,082$1,462$1,014$209
30 years$3,847$2,758$1,939$1,342$916$177
31 years$3,683$2,607$1,808$1,232$828$150
32 years$3,529$2,467$1,687$1,133$749$126
33 years$3,385$2,336$1,575$1,041$678$107
34 years$3,249$2,214$1,472$958$614$90
35 years$3,122$2,100$1,376$882$556$76
36 years$3,002$1,993$1,287$812$504$65
37 years$2,888$1,893$1,205$749$457$55
38 years$2,781$1,799$1,128$690$414$46
39 years$2,680$1,711$1,057$636$375$39
40 years$2,584$1,628$991$587$341$33
41 years$2,493$1,550$929$541$309$28
42 years$2,406$1,476$871$500$280$24
43 years$2,324$1,406$818$461$254$20
44 years$2,246$1,340$768$426$231$17
45 years$2,171$1,278$721$393$210$14
46 years$2,100$1,219$677$363$190$12
47 years$2,032$1,164$636$336$173$10
48 years$1,967$1,111$598$310$157$9
49 years$1,905$1,061$562$287$143$7
50 years$1,845$1,013$528$265$129$6

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 $3,677 every year, while hoping to spend $57,823 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: 55/37/8 Blend
61$1,890,000$1,890,000$1,890,000$1,890,000
62$2,086,573$1,986,403$1,957,108$2,197,176
63$2,237,880$2,022,213$1,961,148$2,308,140
64$2,402,683$2,057,841$1,963,385$2,422,189
65$2,582,296$2,093,215$1,963,698$2,544,962
66$2,778,168$2,128,260$1,961,960$2,677,297
67$2,991,892$2,162,895$1,958,036$2,820,117
68$3,225,222$2,197,034$1,951,787$2,974,441
69$3,480,088$2,230,583$1,943,066$3,141,390
70$3,758,617$2,263,441$1,931,718$3,322,200
71$4,063,147$2,295,501$1,917,582$3,518,236
72$4,396,256$2,326,648$1,900,489$3,731,000
73$4,760,780$2,356,760$1,880,262$3,962,150
74$5,159,843$2,385,704$1,856,714$4,213,513
75$5,596,884$2,413,341$1,829,651$4,487,102
76$6,075,692$2,439,520$1,798,870$4,785,140
77$6,600,438$2,464,082$1,764,157$5,110,074
78$7,175,716$2,486,856$1,725,290$5,464,606
79$7,806,586$2,507,659$1,682,034$5,851,712
80$8,498,622$2,526,299$1,634,147$6,274,676
81$9,257,963$2,542,569$1,581,372$6,737,116
82$10,091,369$2,556,249$1,523,442$7,243,024
83$11,006,290$2,567,105$1,460,078$7,796,800
84$12,010,928$2,574,890$1,390,988$8,403,298
85$13,114,323$2,579,340$1,315,866$9,067,868
86$14,326,429$2,580,173$1,234,393$9,796,408
87$15,658,216$2,577,093$1,146,236$10,595,423
88$17,121,765$2,569,782$1,051,046$11,472,086
89$18,730,389$2,557,904$948,459$12,434,304
90$20,498,751$2,541,104$838,095$13,490,797
91$22,443,009$2,519,003$719,557$14,651,177
92$24,580,962$2,491,201$592,429$15,926,045
93$26,932,224$2,457,273$456,278$17,327,085
94$29,518,400$2,416,769$310,653$18,867,183
95$32,363,297$2,369,211$155,080$20,560,544
96$35,493,145$2,314,094$0$22,422,829
97$38,936,845$2,250,884$0$24,472,239
98$42,726,240$2,179,014$0$26,741,063
99$46,896,414$2,097,883$0$29,237,084
100$51,486,027$2,006,859$0$31,983,485