Can I retire at age 62 with 1,150,000?

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 $1,150,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$94,966$94,120$93,295$92,489$91,703$90,557
2 years$47,013$46,137$45,289$44,466$43,668$42,515
3 years$31,031$30,151$29,305$28,490$27,705$26,580
4 years$23,041$22,164$21,326$20,525$19,759$18,672
5 years$18,248$17,377$16,550$15,765$15,021$13,974
6 years$15,055$14,190$13,375$12,608$11,885$10,881
7 years$12,774$11,916$11,115$10,365$9,666$8,703
8 years$11,064$10,215$9,426$8,695$8,019$7,098
9 years$9,735$8,894$8,119$7,407$6,753$5,874
10 years$8,673$7,839$7,078$6,384$5,754$4,916
11 years$7,804$6,979$6,231$5,556$4,949$4,151
12 years$7,081$6,264$5,530$4,874$4,288$3,530
13 years$6,469$5,661$4,941$4,303$3,739$3,020
14 years$5,945$5,145$4,439$3,820$3,278$2,596
15 years$5,491$4,700$4,008$3,406$2,886$2,241
16 years$5,095$4,313$3,634$3,050$2,551$1,940
17 years$4,745$3,972$3,307$2,740$2,262$1,685
18 years$4,435$3,670$3,019$2,470$2,011$1,467
19 years$4,158$3,401$2,763$2,232$1,792$1,280
20 years$3,908$3,161$2,536$2,021$1,601$1,119
21 years$3,683$2,944$2,333$1,834$1,433$979
22 years$3,479$2,748$2,150$1,668$1,284$858
23 years$3,292$2,570$1,985$1,519$1,153$753
24 years$3,122$2,408$1,836$1,385$1,036$662
25 years$2,965$2,260$1,700$1,265$932$582
26 years$2,820$2,124$1,577$1,157$840$512
27 years$2,687$1,999$1,464$1,059$757$451
28 years$2,563$1,884$1,361$970$683$397
29 years$2,448$1,777$1,267$890$617$350
30 years$2,341$1,678$1,180$816$557$309
31 years$2,241$1,586$1,100$750$504$273
32 years$2,147$1,501$1,026$689$456$241
33 years$2,059$1,422$958$634$413$212
34 years$1,977$1,347$895$583$374$188
35 years$1,900$1,278$837$537$338$166
36 years$1,826$1,213$783$494$307$146
37 years$1,758$1,152$733$455$278$129
38 years$1,692$1,095$686$420$252$114
39 years$1,631$1,041$643$387$228$101
40 years$1,572$990$603$357$207$89
41 years$1,517$943$565$329$188$79
42 years$1,464$898$530$304$171$70
43 years$1,414$856$498$281$155$62
44 years$1,366$816$467$259$141$55
45 years$1,321$778$439$239$128$48
46 years$1,278$742$412$221$116$43
47 years$1,236$708$387$204$105$38
48 years$1,197$676$364$189$96$33
49 years$1,159$645$342$174$87$30
50 years$1,123$617$321$161$79$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,150,000, adding $3,245 every year, while hoping to spend $51,545 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: 78/13/9 Blend
61$1,150,000$1,150,000$1,150,000$1,150,000
62$1,270,647$1,209,697$1,191,872$1,367,728
63$1,345,410$1,214,129$1,176,956$1,436,384
64$1,426,070$1,217,050$1,159,813$1,504,674
65$1,513,177$1,218,333$1,140,314$1,578,067
66$1,607,330$1,217,840$1,118,324$1,657,048
67$1,709,190$1,215,427$1,093,700$1,742,152
68$1,819,484$1,210,940$1,066,296$1,833,970
69$1,939,012$1,204,215$1,035,957$1,933,151
70$2,068,650$1,195,081$1,002,520$2,040,412
71$2,209,364$1,183,352$965,817$2,156,542
72$2,362,218$1,168,835$925,670$2,282,412
73$2,528,378$1,151,322$881,895$2,418,980
74$2,709,132$1,130,596$834,297$2,567,304
75$2,905,892$1,106,424$782,675$2,728,549
76$3,120,215$1,078,561$726,817$2,904,001
77$3,353,814$1,046,747$666,502$3,095,074
78$3,608,573$1,010,708$601,500$3,303,331
79$3,886,567$970,152$531,569$3,530,493
80$4,190,078$924,771$456,458$3,778,456
81$4,521,621$874,239$375,904$4,049,314
82$4,883,961$818,212$289,632$4,345,371
83$5,280,147$756,326$197,356$4,669,171
84$5,713,531$688,195$98,777$5,023,515
85$6,187,806$613,412$0$5,411,495
86$6,707,040$531,546$0$5,837,135
87$7,275,710$442,144$0$6,313,734
88$7,898,748$344,724$0$6,835,973
89$8,581,584$238,780$0$7,408,449
90$9,330,200$123,775$0$8,036,231
91$10,151,184$0$0$8,724,903
92$11,051,792$0$0$9,480,745
93$12,040,015$0$0$10,329,586
94$13,124,656$0$0$11,261,285
95$14,315,412$0$0$12,284,176
96$15,622,965$0$0$13,407,442
97$17,059,080$0$0$14,641,194
98$18,636,721$0$0$15,996,574
99$20,370,165$0$0$17,485,855
100$22,275,145$0$0$19,122,559