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%18.9%
1 years$156,074$154,684$153,328$152,004$150,711$145,306
2 years$77,265$75,826$74,431$73,079$71,767$66,380
3 years$50,998$49,553$48,162$46,822$45,532$40,332
4 years$37,867$36,427$35,049$33,733$32,474$27,501
5 years$29,991$28,559$27,200$25,910$24,686$19,953
6 years$24,742$23,320$21,981$20,720$19,533$15,044
7 years$20,994$19,585$18,267$17,035$15,886$11,639
8 years$18,184$16,788$15,492$14,291$13,179$9,171
9 years$16,000$14,617$13,343$12,172$11,098$7,325
10 years$14,254$12,884$11,633$10,493$9,456$5,910
11 years$12,826$11,470$10,241$9,132$8,133$4,806
12 years$11,637$10,295$9,089$8,010$7,048$3,933
13 years$10,632$9,303$8,120$7,071$6,146$3,234
14 years$9,771$8,456$7,296$6,277$5,387$2,670
15 years$9,025$7,725$6,587$5,598$4,743$2,211
16 years$8,373$7,088$5,972$5,013$4,192$1,836
17 years$7,799$6,527$5,435$4,504$3,717$1,528
18 years$7,289$6,032$4,961$4,059$3,305$1,274
19 years$6,833$5,590$4,542$3,667$2,946$1,064
20 years$6,424$5,195$4,168$3,322$2,631$889
21 years$6,053$4,839$3,834$3,015$2,355$744
22 years$5,717$4,517$3,534$2,741$2,111$623
23 years$5,411$4,224$3,263$2,496$1,895$522
24 years$5,130$3,958$3,017$2,277$1,703$438
25 years$4,873$3,714$2,795$2,079$1,532$367
26 years$4,635$3,491$2,592$1,901$1,380$308
27 years$4,416$3,285$2,407$1,740$1,245$259
28 years$4,212$3,096$2,237$1,594$1,123$217
29 years$4,023$2,920$2,082$1,462$1,014$183
30 years$3,847$2,758$1,939$1,342$916$153
31 years$3,683$2,607$1,808$1,232$828$129
32 years$3,529$2,467$1,687$1,133$749$108
33 years$3,385$2,336$1,575$1,041$678$91
34 years$3,249$2,214$1,472$958$614$77
35 years$3,122$2,100$1,376$882$556$64
36 years$3,002$1,993$1,287$812$504$54
37 years$2,888$1,893$1,205$749$457$45
38 years$2,781$1,799$1,128$690$414$38
39 years$2,680$1,711$1,057$636$375$32
40 years$2,584$1,628$991$587$341$27
41 years$2,493$1,550$929$541$309$23
42 years$2,406$1,476$871$500$280$19
43 years$2,324$1,406$818$461$254$16
44 years$2,246$1,340$768$426$231$14
45 years$2,171$1,278$721$393$210$11
46 years$2,100$1,219$677$363$190$10
47 years$2,032$1,164$636$336$173$8
48 years$1,967$1,111$598$310$157$7
49 years$1,905$1,061$562$287$143$6
50 years$1,845$1,013$528$265$129$5

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 $5,749 every year, while hoping to spend $23,412 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: 69/18/13 Blend
61$1,890,000$1,890,000$1,890,000$1,890,000
62$2,088,710$1,988,540$1,959,245$2,226,428
63$2,276,848$2,061,068$1,999,970$2,391,228
64$2,483,392$2,136,366$2,041,274$2,568,112
65$2,710,194$2,214,544$2,083,152$2,761,024
66$2,959,294$2,295,717$2,125,599$2,971,535
67$3,232,942$2,380,007$2,168,606$3,201,377
68$3,533,614$2,467,539$2,212,166$3,452,456
69$3,864,037$2,558,443$2,256,268$3,726,870
70$4,227,219$2,652,857$2,300,903$4,026,929
71$4,626,470$2,750,922$2,346,058$4,355,177
72$5,065,440$2,852,786$2,391,721$4,714,413
73$5,548,147$2,958,605$2,437,875$5,107,722
74$6,079,020$3,068,538$2,484,506$5,538,500
75$6,662,938$3,182,755$2,531,596$6,010,485
76$7,305,277$3,301,430$2,579,124$6,527,796
77$8,011,961$3,424,746$2,627,070$7,094,969
78$8,789,516$3,552,893$2,675,411$7,716,998
79$9,645,131$3,686,069$2,724,122$8,399,387
80$10,586,730$3,824,483$2,773,176$9,148,193
81$11,623,044$3,968,349$2,822,544$9,970,094
82$12,763,689$4,117,893$2,872,195$10,872,440
83$14,019,266$4,273,351$2,922,094$11,863,332
84$15,401,453$4,434,966$2,972,206$12,951,690
85$16,923,118$4,602,996$3,022,492$14,147,343
86$18,598,440$4,777,707$3,072,909$15,461,117
87$20,443,044$4,959,378$3,123,415$16,904,939
88$22,474,146$5,148,299$3,173,960$18,491,949
89$24,710,716$5,344,773$3,224,495$20,236,623
90$27,173,659$5,549,116$3,274,966$22,154,907
91$29,886,009$5,761,660$3,325,314$24,264,373
92$32,873,149$5,982,749$3,375,479$26,584,376
93$36,163,048$6,212,742$3,425,396$29,136,245
94$39,786,528$6,452,015$3,474,995$31,943,476
95$43,777,550$6,700,960$3,524,204$35,031,959
96$48,173,540$6,959,986$3,572,945$38,430,216
97$53,015,737$7,229,522$3,621,134$42,169,676
98$58,349,586$7,510,012$3,668,686$46,284,967
99$64,225,164$7,801,922$3,715,507$50,814,243
100$70,697,654$8,105,740$3,761,500$55,799,542