Can I retire at age 62 with 1,990,000?

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 $1,990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$164,332$162,869$161,440$160,046$158,685$157,884
2 years$81,353$79,838$78,369$76,945$75,564$74,756
3 years$53,696$52,175$50,710$49,300$47,941$47,150
4 years$39,871$38,354$36,904$35,518$34,192$33,425
5 years$31,578$30,070$28,639$27,281$25,992$25,251
6 years$26,051$24,554$23,145$21,817$20,567$19,852
7 years$22,105$20,621$19,233$17,937$16,726$16,039
8 years$19,146$17,676$16,311$15,047$13,876$13,216
9 years$16,847$15,390$14,049$12,816$11,686$11,053
10 years$15,008$13,565$12,248$11,048$9,957$9,351
11 years$13,504$12,077$10,783$9,615$8,563$7,984
12 years$12,253$10,839$9,570$8,434$7,421$6,868
13 years$11,194$9,796$8,550$7,446$6,471$5,943
14 years$10,288$8,904$7,682$6,609$5,672$5,170
15 years$9,503$8,134$6,936$5,894$4,994$4,516
16 years$8,816$7,463$6,288$5,278$4,414$3,959
17 years$8,212$6,873$5,722$4,742$3,914$3,482
18 years$7,675$6,351$5,224$4,274$3,480$3,070
19 years$7,195$5,886$4,782$3,862$3,102$2,714
20 years$6,763$5,469$4,389$3,497$2,771$2,403
21 years$6,374$5,095$4,037$3,174$2,479$2,132
22 years$6,020$4,756$3,720$2,886$2,222$1,894
23 years$5,697$4,448$3,435$2,628$1,995$1,685
24 years$5,402$4,167$3,177$2,397$1,793$1,501
25 years$5,131$3,911$2,943$2,189$1,614$1,339
26 years$4,881$3,676$2,729$2,002$1,453$1,195
27 years$4,649$3,459$2,534$1,832$1,310$1,067
28 years$4,435$3,259$2,356$1,679$1,182$954
29 years$4,236$3,075$2,192$1,539$1,068$853
30 years$4,051$2,904$2,042$1,413$965$763
31 years$3,878$2,745$1,904$1,298$872$684
32 years$3,716$2,598$1,776$1,192$789$612
33 years$3,564$2,460$1,658$1,097$714$549
34 years$3,421$2,331$1,550$1,009$646$492
35 years$3,287$2,211$1,449$929$586$441
36 years$3,161$2,099$1,355$855$530$396
37 years$3,041$1,993$1,269$788$481$355
38 years$2,928$1,894$1,188$726$436$319
39 years$2,822$1,801$1,113$670$395$286
40 years$2,721$1,714$1,043$618$359$257
41 years$2,625$1,632$978$570$325$231
42 years$2,534$1,554$918$526$295$207
43 years$2,447$1,480$861$486$268$186
44 years$2,364$1,411$808$448$243$167
45 years$2,286$1,346$759$414$221$150
46 years$2,211$1,284$713$382$200$135
47 years$2,139$1,225$670$353$182$121
48 years$2,071$1,170$629$327$165$109
49 years$2,006$1,117$591$302$150$98
50 years$1,943$1,067$556$279$136$88

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,990,000, adding $5,536 every year, while hoping to spend $40,697 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: 57/14/29 Blend
61$1,990,000$1,990,000$1,990,000$1,990,000
62$2,198,690$2,093,220$2,062,375$2,306,194
63$2,379,656$2,152,487$2,088,164$2,439,960
64$2,577,715$2,213,293$2,113,452$2,580,981
65$2,794,570$2,275,673$2,138,180$2,733,873
66$3,032,092$2,339,657$2,162,286$2,899,801
67$3,292,345$2,405,280$2,185,702$3,080,043
68$3,577,600$2,472,574$2,208,358$3,276,012
69$3,890,358$2,541,572$2,230,181$3,489,260
70$4,233,374$2,612,309$2,251,091$3,721,501
71$4,609,683$2,684,817$2,271,008$3,974,620
72$5,022,627$2,759,130$2,289,843$4,250,696
73$5,475,889$2,835,281$2,307,507$4,552,020
74$5,973,523$2,913,303$2,323,902$4,881,115
75$6,519,998$2,993,230$2,338,928$5,240,763
76$7,120,233$3,075,095$2,352,478$5,634,027
77$7,779,652$3,158,929$2,364,441$6,064,284
78$8,504,226$3,244,766$2,374,699$6,535,255
79$9,300,534$3,332,637$2,383,128$7,051,042
80$10,175,825$3,422,573$2,389,600$7,616,162
81$11,138,086$3,514,605$2,393,978$8,235,597
82$12,196,112$3,608,763$2,396,118$8,914,834
83$13,359,599$3,705,076$2,395,872$9,659,921
84$14,639,226$3,803,571$2,393,080$10,477,523
85$16,046,758$3,904,277$2,387,579$11,374,987
86$17,595,159$4,007,219$2,379,196$12,360,407
87$19,298,714$4,112,422$2,367,748$13,442,704
88$21,173,161$4,219,908$2,353,045$14,631,712
89$23,235,839$4,329,699$2,334,887$15,938,266
90$25,505,855$4,441,815$2,313,067$17,374,308
91$28,004,262$4,556,274$2,287,364$18,952,999
92$30,754,256$4,673,090$2,257,550$20,688,843
93$33,781,396$4,792,278$2,223,384$22,597,825
94$37,113,846$4,913,847$2,184,615$24,697,563
95$40,782,639$5,037,806$2,140,980$27,007,471
96$44,821,968$5,164,159$2,092,203$29,548,947
97$49,269,514$5,292,908$2,037,997$32,345,574
98$54,166,793$5,424,049$1,978,059$35,423,339
99$59,559,557$5,557,579$1,912,075$38,810,885
100$65,498,217$5,693,485$1,839,714$42,539,777