Can I retire at age 62 with 1,180,000?

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 $1,180,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$97,443$96,575$95,728$94,902$94,095$92,422
2 years$48,239$47,341$46,470$45,626$44,807$43,127
3 years$31,840$30,938$30,069$29,233$28,427$26,793
4 years$23,642$22,743$21,883$21,061$20,275$18,699
5 years$18,725$17,830$16,982$16,177$15,413$13,899
6 years$15,447$14,560$13,724$12,937$12,195$10,746
7 years$13,107$12,227$11,405$10,636$9,918$8,534
8 years$11,353$10,481$9,672$8,922$8,228$6,908
9 years$9,989$9,126$8,331$7,600$6,929$5,673
10 years$8,899$8,044$7,263$6,551$5,904$4,710
11 years$8,008$7,161$6,394$5,701$5,078$3,945
12 years$7,265$6,427$5,675$5,001$4,400$3,327
13 years$6,638$5,808$5,070$4,415$3,837$2,822
14 years$6,100$5,280$4,555$3,919$3,364$2,405
15 years$5,635$4,823$4,113$3,495$2,962$2,057
16 years$5,228$4,425$3,729$3,130$2,617$1,765
17 years$4,869$4,075$3,393$2,812$2,321$1,519
18 years$4,551$3,766$3,097$2,534$2,064$1,310
19 years$4,266$3,490$2,836$2,290$1,839$1,132
20 years$4,010$3,243$2,602$2,074$1,643$980
21 years$3,779$3,021$2,394$1,882$1,470$850
22 years$3,569$2,820$2,206$1,711$1,318$737
23 years$3,378$2,637$2,037$1,558$1,183$641
24 years$3,203$2,471$1,884$1,421$1,063$557
25 years$3,042$2,319$1,745$1,298$957$485
26 years$2,894$2,179$1,618$1,187$862$422
27 years$2,757$2,051$1,503$1,086$777$368
28 years$2,630$1,933$1,397$995$701$321
29 years$2,512$1,823$1,300$913$633$280
30 years$2,402$1,722$1,211$838$572$244
31 years$2,299$1,628$1,129$769$517$213
32 years$2,203$1,540$1,053$707$468$186
33 years$2,113$1,459$983$650$423$163
34 years$2,029$1,382$919$598$383$142
35 years$1,949$1,311$859$551$347$124
36 years$1,874$1,245$804$507$315$108
37 years$1,803$1,182$752$467$285$95
38 years$1,736$1,123$704$431$258$83
39 years$1,673$1,068$660$397$234$72
40 years$1,613$1,016$619$366$213$63
41 years$1,556$967$580$338$193$55
42 years$1,502$921$544$312$175$48
43 years$1,451$878$511$288$159$42
44 years$1,402$837$479$266$144$37
45 years$1,355$798$450$246$131$32
46 years$1,311$761$423$227$119$28
47 years$1,269$726$397$210$108$25
48 years$1,228$693$373$194$98$22
49 years$1,189$662$351$179$89$19
50 years$1,152$633$330$165$81$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,180,000, adding $2,362 every year, while hoping to spend $21,410 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: 72/19/9 Blend
61$1,180,000$1,180,000$1,180,000$1,180,000
62$1,302,796$1,240,256$1,221,966$1,394,339
63$1,412,902$1,278,249$1,240,122$1,493,124
64$1,533,520$1,317,385$1,258,169$1,598,368
65$1,665,701$1,357,700$1,276,079$1,713,010
66$1,810,601$1,399,225$1,293,827$1,837,973
67$1,969,494$1,441,999$1,311,381$1,974,270
68$2,143,781$1,486,055$1,328,711$2,123,019
69$2,335,007$1,531,433$1,345,784$2,285,450
70$2,544,875$1,578,170$1,362,564$2,462,917
71$2,775,257$1,626,305$1,379,015$2,656,912
72$3,028,218$1,675,879$1,395,097$2,869,077
73$3,306,033$1,726,934$1,410,770$3,101,221
74$3,611,207$1,779,512$1,425,989$3,355,337
75$3,946,499$1,833,657$1,440,708$3,633,618
76$4,314,950$1,889,414$1,454,880$3,938,482
77$4,719,908$1,946,829$1,468,452$4,272,591
78$5,165,065$2,005,950$1,481,372$4,638,876
79$5,654,485$2,066,825$1,493,581$5,040,568
80$6,192,648$2,129,504$1,505,021$5,481,226
81$6,784,487$2,194,039$1,515,628$5,964,768
82$7,435,440$2,260,482$1,525,337$6,495,513
83$8,151,496$2,328,887$1,534,077$7,078,219
84$8,939,256$2,399,310$1,541,776$7,718,126
85$9,805,991$2,471,807$1,548,357$8,421,008
86$10,759,714$2,546,437$1,553,738$9,193,226
87$11,809,252$2,623,260$1,557,835$10,041,789
88$12,964,332$2,702,336$1,560,559$10,974,419
89$14,235,672$2,783,728$1,561,816$11,999,625
90$15,635,081$2,867,502$1,561,508$13,126,778
91$17,175,573$2,953,723$1,559,532$14,366,209
92$18,871,485$3,042,459$1,555,779$15,729,297
93$20,738,615$3,133,779$1,550,137$17,228,580
94$22,794,374$3,227,754$1,542,487$18,877,876
95$25,057,943$3,324,457$1,532,703$20,692,407
96$27,550,461$3,423,962$1,520,656$22,688,948
97$30,295,218$3,526,347$1,506,208$24,885,982
98$33,317,881$3,631,688$1,489,217$27,303,876
99$36,646,731$3,740,067$1,469,531$29,965,070
100$40,312,932$3,851,565$1,446,995$32,894,295