Can I retire at age 62 with 1,920,000?

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 $1,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$158,552$157,140$155,762$154,417$153,103$148,919
2 years$78,491$77,029$75,612$74,239$72,906$68,721
3 years$51,808$50,339$48,926$47,566$46,255$42,200
4 years$38,468$37,005$35,606$34,268$32,989$29,096
5 years$30,467$29,012$27,632$26,321$25,078$21,357
6 years$25,135$23,691$22,330$21,049$19,843$16,298
7 years$21,327$19,895$18,557$17,306$16,138$12,768
8 years$18,473$17,054$15,738$14,517$13,388$10,192
9 years$16,254$14,849$13,555$12,366$11,275$8,250
10 years$14,480$13,088$11,817$10,659$9,607$6,749
11 years$13,029$11,652$10,404$9,277$8,262$5,567
12 years$11,822$10,458$9,233$8,137$7,160$4,622
13 years$10,800$9,451$8,249$7,184$6,243$3,858
14 years$9,926$8,591$7,412$6,377$5,473$3,234
15 years$9,168$7,848$6,692$5,687$4,819$2,721
16 years$8,506$7,200$6,067$5,092$4,259$2,295
17 years$7,923$6,631$5,521$4,575$3,776$1,941
18 years$7,405$6,127$5,040$4,123$3,358$1,645
19 years$6,942$5,679$4,614$3,726$2,993$1,397
20 years$6,525$5,277$4,234$3,374$2,673$1,187
21 years$6,149$4,915$3,895$3,062$2,392$1,010
22 years$5,808$4,588$3,590$2,784$2,144$861
23 years$5,497$4,291$3,314$2,536$1,925$734
24 years$5,212$4,021$3,065$2,313$1,730$626
25 years$4,950$3,773$2,839$2,112$1,557$535
26 years$4,709$3,546$2,633$1,931$1,402$457
27 years$4,486$3,337$2,445$1,768$1,264$390
28 years$4,279$3,145$2,273$1,620$1,141$334
29 years$4,087$2,967$2,115$1,485$1,030$285
30 years$3,908$2,802$1,970$1,363$931$244
31 years$3,741$2,649$1,837$1,252$841$209
32 years$3,585$2,506$1,714$1,151$761$179
33 years$3,438$2,373$1,600$1,058$689$153
34 years$3,301$2,249$1,495$973$624$131
35 years$3,171$2,134$1,398$896$565$112
36 years$3,049$2,025$1,308$825$512$96
37 years$2,934$1,923$1,224$760$464$82
38 years$2,825$1,828$1,146$701$421$71
39 years$2,723$1,738$1,074$646$381$60
40 years$2,625$1,654$1,006$596$346$52
41 years$2,532$1,574$944$550$314$44
42 years$2,444$1,499$885$508$285$38
43 years$2,361$1,428$831$469$258$33
44 years$2,281$1,362$780$433$235$28
45 years$2,205$1,298$732$400$213$24
46 years$2,133$1,239$688$369$193$20
47 years$2,064$1,182$646$341$176$18
48 years$1,998$1,128$607$315$159$15
49 years$1,935$1,078$571$291$145$13
50 years$1,875$1,029$536$269$132$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,920,000, adding $2,931 every year, while hoping to spend $40,753 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: 49/29/22 Blend
61$1,920,000$1,920,000$1,920,000$1,920,000
62$2,118,863$2,017,103$1,987,343$2,209,413
63$2,291,627$2,072,581$2,010,558$2,328,176
64$2,480,646$2,129,410$2,033,185$2,452,773
65$2,687,536$2,187,616$2,055,161$2,587,294
66$2,914,076$2,247,220$2,076,420$2,732,691
67$3,162,223$2,308,246$2,096,893$2,890,012
68$3,434,136$2,370,716$2,116,504$3,060,413
69$3,732,189$2,434,651$2,135,178$3,245,165
70$4,058,997$2,500,075$2,152,832$3,445,670
71$4,417,444$2,567,007$2,169,380$3,663,469
72$4,810,701$2,635,468$2,184,733$3,900,263
73$5,242,265$2,705,479$2,198,794$4,157,923
74$5,715,986$2,777,057$2,211,463$4,438,511
75$6,236,105$2,850,222$2,222,636$4,744,300
76$6,807,295$2,924,989$2,232,201$5,077,793
77$7,434,702$3,001,377$2,240,043$5,441,747
78$8,123,995$3,079,399$2,246,038$5,839,202
79$8,881,422$3,159,068$2,250,060$6,273,503
80$9,713,863$3,240,399$2,251,973$6,748,342
81$10,628,899$3,323,400$2,251,636$7,267,782
82$11,634,882$3,408,081$2,248,900$7,836,302
83$12,741,012$3,494,450$2,243,611$8,458,838
84$13,957,428$3,582,511$2,235,605$9,140,829
85$15,295,299$3,672,267$2,224,711$9,888,267
86$16,766,930$3,763,719$2,210,749$10,707,758
87$18,385,881$3,856,865$2,193,533$11,606,580
88$20,167,089$3,951,699$2,172,864$12,592,752
89$22,127,014$4,048,215$2,148,538$13,675,115
90$24,283,792$4,146,400$2,120,337$14,863,408
91$26,657,407$4,246,242$2,088,036$16,168,367
92$29,269,875$4,347,720$2,051,398$17,601,821
93$32,145,457$4,450,813$2,010,174$19,176,807
94$35,310,886$4,555,495$1,964,107$20,907,694
95$38,795,616$4,661,734$1,912,924$22,810,315
96$42,632,103$4,769,493$1,856,342$24,902,122
97$46,856,111$4,878,732$1,794,063$27,202,345
98$51,507,048$4,989,403$1,725,777$29,732,179
99$56,628,335$5,101,453$1,651,159$32,514,982
100$62,267,823$5,214,821$1,569,870$35,576,496