Can I retire at age 62 with 1,200,000?

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 $1,200,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$99,095$98,212$97,351$96,510$95,690$91,966
2 years$49,057$48,143$47,258$46,399$45,567$41,860
3 years$32,380$31,462$30,579$29,728$28,909$25,336
4 years$24,043$23,128$22,254$21,418$20,618$17,206
5 years$19,042$18,133$17,270$16,451$15,674$12,431
6 years$15,709$14,807$13,956$13,156$12,402$9,332
7 years$13,329$12,435$11,598$10,816$10,086$7,187
8 years$11,546$10,659$9,836$9,073$8,367$5,636
9 years$10,159$9,280$8,472$7,729$7,047$4,479
10 years$9,050$8,180$7,386$6,662$6,004$3,596
11 years$8,143$7,282$6,502$5,798$5,164$2,909
12 years$7,388$6,536$5,771$5,086$4,475$2,368
13 years$6,750$5,907$5,156$4,490$3,902$1,936
14 years$6,204$5,369$4,632$3,986$3,421$1,590
15 years$5,730$4,905$4,182$3,554$3,012$1,309
16 years$5,316$4,500$3,792$3,183$2,662$1,081
17 years$4,952$4,144$3,451$2,860$2,360$894
18 years$4,628$3,830$3,150$2,577$2,098$741
19 years$4,339$3,549$2,884$2,329$1,870$615
20 years$4,078$3,298$2,646$2,109$1,671$511
21 years$3,843$3,072$2,434$1,914$1,495$425
22 years$3,630$2,868$2,244$1,740$1,340$354
23 years$3,435$2,682$2,071$1,585$1,203$294
24 years$3,257$2,513$1,916$1,446$1,081$245
25 years$3,094$2,358$1,774$1,320$973$204
26 years$2,943$2,216$1,646$1,207$876$170
27 years$2,804$2,086$1,528$1,105$790$142
28 years$2,675$1,966$1,421$1,012$713$119
29 years$2,555$1,854$1,322$928$644$99
30 years$2,443$1,751$1,231$852$582$83
31 years$2,338$1,655$1,148$782$526$69
32 years$2,241$1,566$1,071$719$476$58
33 years$2,149$1,483$1,000$661$431$48
34 years$2,063$1,406$934$608$390$40
35 years$1,982$1,333$874$560$353$34
36 years$1,906$1,266$817$516$320$28
37 years$1,834$1,202$765$475$290$23
38 years$1,766$1,142$716$438$263$20
39 years$1,702$1,086$671$404$238$16
40 years$1,641$1,034$629$373$216$14
41 years$1,583$984$590$344$196$11
42 years$1,528$937$553$317$178$10
43 years$1,476$893$519$293$162$8
44 years$1,426$851$487$270$147$7
45 years$1,378$811$458$250$133$6
46 years$1,333$774$430$231$121$5
47 years$1,290$739$404$213$110$4
48 years$1,249$705$379$197$100$3
49 years$1,209$673$357$182$91$3
50 years$1,172$643$335$168$82$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,200,000, adding $4,189 every year, while hoping to spend $31,441 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: 43/27/30 Blend
61$1,200,000$1,200,000$1,200,000$1,200,000
62$1,326,721$1,263,121$1,244,521$1,372,007
63$1,428,594$1,291,561$1,252,759$1,433,426
64$1,539,803$1,320,341$1,260,220$1,496,659
65$1,661,270$1,349,444$1,266,844$1,564,587
66$1,794,004$1,378,851$1,272,568$1,637,664
67$1,939,121$1,408,544$1,277,328$1,716,392
68$2,097,847$1,438,498$1,281,054$1,801,325
69$2,271,533$1,468,689$1,283,674$1,893,074
70$2,461,665$1,499,091$1,285,113$1,992,312
71$2,669,881$1,529,673$1,285,291$2,099,782
72$2,897,985$1,560,403$1,284,124$2,216,304
73$3,147,962$1,591,246$1,281,525$2,342,782
74$3,422,000$1,622,163$1,277,402$2,480,212
75$3,722,508$1,653,113$1,271,659$2,629,696
76$4,052,139$1,684,050$1,264,195$2,792,445
77$4,413,815$1,714,926$1,254,903$2,969,799
78$4,810,755$1,745,689$1,243,674$3,163,233
79$5,246,506$1,776,281$1,230,390$3,374,377
80$5,724,972$1,806,641$1,214,930$3,605,024
81$6,250,456$1,836,703$1,197,167$3,857,157
82$6,827,698$1,866,397$1,176,968$4,132,960
83$7,461,919$1,895,647$1,154,192$4,434,842
84$8,158,871$1,924,370$1,128,694$4,765,461
85$8,924,891$1,952,479$1,100,321$5,127,747
86$9,766,960$1,979,881$1,068,912$5,524,933
87$10,692,770$2,006,475$1,034,300$5,960,583
88$11,710,794$2,032,154$996,311$6,438,627
89$12,830,369$2,056,803$954,761$6,963,401
90$14,061,780$2,080,300$909,459$7,539,685
91$15,416,360$2,102,514$860,205$8,172,750
92$16,906,597$2,123,304$806,789$8,868,409
93$18,546,247$2,142,524$748,994$9,633,072
94$20,350,470$2,160,013$686,591$10,473,806
95$22,335,967$2,175,603$619,341$11,398,403
96$24,521,142$2,189,114$546,995$12,415,457
97$26,926,272$2,200,354$469,294$13,534,442
98$29,573,701$2,209,121$385,964$14,765,802
99$32,488,048$2,215,197$296,723$16,121,055
100$35,696,440$2,218,352$201,274$17,612,900