Can I retire at age 62 with 1,140,000?

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 $1,140,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$94,140$93,302$92,483$91,685$90,905$90,181
2 years$46,604$45,736$44,895$44,079$43,288$42,558
3 years$30,761$29,889$29,050$28,242$27,464$26,751
4 years$22,841$21,972$21,141$20,347$19,587$18,897
5 years$18,090$17,226$16,406$15,628$14,890$14,224
6 years$14,924$14,066$13,259$12,498$11,782$11,141
7 years$12,663$11,813$11,018$10,275$9,582$8,966
8 years$10,968$10,126$9,344$8,620$7,949$7,359
9 years$9,651$8,816$8,048$7,342$6,694$6,129
10 years$8,597$7,771$7,017$6,329$5,704$5,164
11 years$7,736$6,918$6,177$5,508$4,906$4,390
12 years$7,019$6,209$5,482$4,831$4,251$3,760
13 years$6,413$5,612$4,898$4,265$3,707$3,239
14 years$5,893$5,101$4,401$3,786$3,250$2,805
15 years$5,444$4,660$3,973$3,377$2,861$2,439
16 years$5,051$4,275$3,602$3,023$2,529$2,128
17 years$4,704$3,937$3,278$2,717$2,242$1,862
18 years$4,397$3,638$2,992$2,448$1,994$1,634
19 years$4,122$3,372$2,739$2,212$1,777$1,437
20 years$3,874$3,133$2,514$2,004$1,587$1,266
21 years$3,651$2,918$2,313$1,818$1,420$1,118
22 years$3,448$2,724$2,131$1,653$1,273$988
23 years$3,264$2,548$1,968$1,506$1,143$874
24 years$3,094$2,387$1,820$1,373$1,027$774
25 years$2,939$2,240$1,686$1,254$924$687
26 years$2,796$2,106$1,563$1,147$833$610
27 years$2,664$1,982$1,452$1,050$751$542
28 years$2,541$1,867$1,350$962$677$481
29 years$2,427$1,762$1,256$882$612$428
30 years$2,321$1,664$1,170$809$553$381
31 years$2,221$1,573$1,091$743$500$339
32 years$2,129$1,488$1,018$683$452$302
33 years$2,042$1,409$950$628$409$269
34 years$1,960$1,336$888$578$370$240
35 years$1,883$1,267$830$532$335$214
36 years$1,811$1,202$776$490$304$191
37 years$1,742$1,142$727$451$275$170
38 years$1,678$1,085$681$416$250$152
39 years$1,616$1,032$638$384$226$135
40 years$1,559$982$598$354$205$121
41 years$1,504$935$560$327$186$108
42 years$1,451$890$526$301$169$96
43 years$1,402$848$493$278$153$86
44 years$1,354$808$463$257$139$77
45 years$1,309$771$435$237$126$69
46 years$1,267$735$408$219$115$61
47 years$1,226$702$384$202$104$55
48 years$1,186$670$360$187$95$49
49 years$1,149$640$339$173$86$44
50 years$1,113$611$319$160$78$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,140,000, adding $2,044 every year, while hoping to spend $33,544 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: 71/6/23 Blend
61$1,140,000$1,140,000$1,140,000$1,140,000
62$1,258,388$1,197,968$1,180,298$1,340,376
63$1,351,053$1,220,978$1,184,148$1,418,382
64$1,452,046$1,243,991$1,187,002$1,499,621
65$1,562,180$1,266,973$1,188,792$1,587,761
66$1,682,352$1,289,883$1,189,446$1,683,482
67$1,813,547$1,312,683$1,188,888$1,787,537
68$1,956,852$1,335,327$1,187,038$1,900,752
69$2,113,461$1,357,768$1,183,814$2,024,041
70$2,284,689$1,379,955$1,179,127$2,158,409
71$2,471,987$1,401,831$1,172,887$2,304,964
72$2,676,947$1,423,339$1,164,997$2,464,927
73$2,901,328$1,444,414$1,155,356$2,639,645
74$3,147,062$1,464,989$1,143,859$2,830,601
75$3,416,279$1,484,991$1,130,396$3,039,433
76$3,711,326$1,504,342$1,114,850$3,267,941
77$4,034,785$1,522,959$1,097,101$3,518,114
78$4,389,501$1,540,752$1,077,022$3,792,143
79$4,778,608$1,557,626$1,054,480$4,092,440
80$5,205,558$1,573,481$1,029,337$4,421,669
81$5,674,151$1,588,209$1,001,446$4,782,761
82$6,188,576$1,601,693$970,657$5,178,951
83$6,753,446$1,613,811$936,809$5,613,801
84$7,373,843$1,624,432$899,737$6,091,242
85$8,055,363$1,633,418$859,266$6,615,601
86$8,804,174$1,640,619$815,216$7,191,653
87$9,627,069$1,645,879$767,395$7,824,658
88$10,531,534$1,649,031$715,606$8,520,413
89$11,525,812$1,649,895$659,641$9,285,310
90$12,618,989$1,648,284$599,283$10,126,394
91$13,821,072$1,643,996$534,305$11,051,428
92$15,143,089$1,636,820$464,472$12,068,972
93$16,597,188$1,626,527$389,535$13,188,457
94$18,196,754$1,612,881$309,238$14,420,280
95$19,956,536$1,595,624$223,310$15,775,901
96$21,892,782$1,574,490$131,471$17,267,950
97$24,023,397$1,549,191$33,426$18,910,348
98$26,368,108$1,519,425$0$20,718,437
99$28,948,650$1,484,872$0$22,726,604
100$31,788,974$1,445,192$0$24,945,902