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

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 $1,920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.1%
1 years$158,552$157,140$155,762$154,417$153,103$149,281
2 years$78,491$77,029$75,612$74,239$72,906$69,080
3 years$51,808$50,339$48,926$47,566$46,255$42,543
4 years$38,468$37,005$35,606$34,268$32,989$29,422
5 years$30,467$29,012$27,632$26,321$25,078$21,664
6 years$25,135$23,691$22,330$21,049$19,843$16,586
7 years$21,327$19,895$18,557$17,306$16,138$13,039
8 years$18,473$17,054$15,738$14,517$13,388$10,445
9 years$16,254$14,849$13,555$12,366$11,275$8,485
10 years$14,480$13,088$11,817$10,659$9,607$6,967
11 years$13,029$11,652$10,404$9,277$8,262$5,769
12 years$11,822$10,458$9,233$8,137$7,160$4,809
13 years$10,800$9,451$8,249$7,184$6,243$4,030
14 years$9,926$8,591$7,412$6,377$5,473$3,393
15 years$9,168$7,848$6,692$5,687$4,819$2,866
16 years$8,506$7,200$6,067$5,092$4,259$2,428
17 years$7,923$6,631$5,521$4,575$3,776$2,063
18 years$7,405$6,127$5,040$4,123$3,358$1,756
19 years$6,942$5,679$4,614$3,726$2,993$1,497
20 years$6,525$5,277$4,234$3,374$2,673$1,278
21 years$6,149$4,915$3,895$3,062$2,392$1,093
22 years$5,808$4,588$3,590$2,784$2,144$936
23 years$5,497$4,291$3,314$2,536$1,925$802
24 years$5,212$4,021$3,065$2,313$1,730$687
25 years$4,950$3,773$2,839$2,112$1,557$590
26 years$4,709$3,546$2,633$1,931$1,402$506
27 years$4,486$3,337$2,445$1,768$1,264$435
28 years$4,279$3,145$2,273$1,620$1,141$373
29 years$4,087$2,967$2,115$1,485$1,030$321
30 years$3,908$2,802$1,970$1,363$931$276
31 years$3,741$2,649$1,837$1,252$841$237
32 years$3,585$2,506$1,714$1,151$761$204
33 years$3,438$2,373$1,600$1,058$689$176
34 years$3,301$2,249$1,495$973$624$151
35 years$3,171$2,134$1,398$896$565$130
36 years$3,049$2,025$1,308$825$512$112
37 years$2,934$1,923$1,224$760$464$96
38 years$2,825$1,828$1,146$701$421$83
39 years$2,723$1,738$1,074$646$381$71
40 years$2,625$1,654$1,006$596$346$61
41 years$2,532$1,574$944$550$314$53
42 years$2,444$1,499$885$508$285$46
43 years$2,361$1,428$831$469$258$39
44 years$2,281$1,362$780$433$235$34
45 years$2,205$1,298$732$400$213$29
46 years$2,133$1,239$688$369$193$25
47 years$2,064$1,182$646$341$176$22
48 years$1,998$1,128$607$315$159$19
49 years$1,935$1,078$571$291$145$16
50 years$1,875$1,029$536$269$132$14

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 $2,720 every year, while hoping to spend $55,645 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: 71/7/22 Blend
61$1,920,000$1,920,000$1,920,000$1,920,000
62$2,118,646$2,016,886$1,987,126$2,257,350
63$2,275,542$2,056,507$1,994,489$2,389,853
64$2,446,576$2,096,205$2,000,233$2,528,050
65$2,633,132$2,135,925$2,004,246$2,678,004
66$2,836,733$2,175,606$2,006,410$2,840,876
67$3,059,054$2,215,185$2,006,599$3,017,944
68$3,301,940$2,254,592$2,004,683$3,210,617
69$3,567,423$2,293,752$2,000,525$3,420,448
70$3,857,739$2,332,585$1,993,981$3,649,147
71$4,175,350$2,371,003$1,984,901$3,898,602
72$4,522,967$2,408,914$1,973,126$4,170,890
73$4,903,576$2,446,216$1,958,492$4,468,303
74$5,320,464$2,482,804$1,940,824$4,793,365
75$5,777,250$2,518,561$1,919,942$5,148,860
76$6,277,924$2,553,364$1,895,653$5,537,855
77$6,826,875$2,587,081$1,867,760$5,963,731
78$7,428,939$2,619,572$1,836,054$6,430,215
79$8,089,445$2,650,685$1,800,316$6,941,414
80$8,814,259$2,680,259$1,760,317$7,501,855
81$9,609,844$2,708,122$1,715,818$8,116,528
82$10,483,320$2,734,092$1,666,570$8,790,933
83$11,442,528$2,757,972$1,612,309$9,531,133
84$12,496,108$2,779,555$1,552,764$10,343,810
85$13,653,576$2,798,618$1,487,646$11,236,327
86$14,925,415$2,814,925$1,416,657$12,216,804
87$16,323,177$2,828,225$1,339,484$13,294,187
88$17,859,584$2,838,251$1,255,800$14,478,338
89$19,548,655$2,844,719$1,165,263$15,780,128
90$21,405,834$2,847,327$1,067,515$17,211,536
91$23,448,137$2,845,753$962,185$18,785,769
92$25,694,310$2,839,659$848,881$20,517,380
93$28,165,009$2,828,681$727,198$22,422,412
94$30,882,990$2,812,436$596,709$24,518,547
95$33,873,327$2,790,518$456,971$26,825,271
96$37,163,648$2,762,495$307,521$29,364,063
97$40,784,391$2,727,908$147,874$32,158,598
98$44,769,096$2,686,273$0$35,234,968
99$49,154,720$2,637,076$0$38,627,210
100$53,981,981$2,579,772$0$42,399,127