Can I retire at age 62 with 1,330,000?

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 $1,330,000?

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%
1 years$109,830$108,852$107,897$106,966$106,056$104,687
2 years$54,371$53,359$52,377$51,426$50,503$49,126
3 years$35,888$34,871$33,892$32,949$32,041$30,699
4 years$26,647$25,634$24,664$23,738$22,852$21,554
5 years$21,105$20,097$19,141$18,233$17,372$16,123
6 years$17,411$16,411$15,468$14,581$13,746$12,547
7 years$14,773$13,782$12,854$11,988$11,179$10,031
8 years$12,796$11,813$10,902$10,056$9,274$8,176
9 years$11,259$10,286$9,389$8,566$7,810$6,762
10 years$10,030$9,066$8,186$7,384$6,655$5,656
11 years$9,026$8,071$7,207$6,426$5,723$4,773
12 years$8,189$7,244$6,396$5,637$4,960$4,056
13 years$7,481$6,547$5,714$4,976$4,325$3,468
14 years$6,876$5,951$5,134$4,417$3,791$2,979
15 years$6,351$5,436$4,636$3,939$3,338$2,569
16 years$5,892$4,988$4,203$3,527$2,950$2,223
17 years$5,488$4,593$3,824$3,169$2,616$1,930
18 years$5,129$4,244$3,491$2,856$2,326$1,679
19 years$4,809$3,934$3,196$2,581$2,073$1,464
20 years$4,520$3,655$2,933$2,337$1,852$1,278
21 years$4,260$3,405$2,698$2,121$1,657$1,118
22 years$4,023$3,178$2,487$1,929$1,485$979
23 years$3,808$2,973$2,296$1,757$1,333$859
24 years$3,610$2,785$2,123$1,602$1,198$754
25 years$3,429$2,614$1,967$1,463$1,078$662
26 years$3,262$2,457$1,824$1,338$971$582
27 years$3,107$2,312$1,694$1,225$876$512
28 years$2,964$2,178$1,574$1,122$790$451
29 years$2,831$2,055$1,465$1,029$714$397
30 years$2,707$1,941$1,365$944$645$350
31 years$2,592$1,835$1,272$867$583$309
32 years$2,483$1,736$1,187$797$527$272
33 years$2,382$1,644$1,108$733$477$240
34 years$2,287$1,558$1,036$674$432$212
35 years$2,197$1,478$968$621$391$187
36 years$2,112$1,403$906$572$355$165
37 years$2,033$1,332$848$527$321$146
38 years$1,957$1,266$794$486$291$129
39 years$1,886$1,204$744$448$264$114
40 years$1,818$1,146$697$413$240$100
41 years$1,754$1,090$654$381$217$89
42 years$1,693$1,038$613$352$197$78
43 years$1,635$989$575$325$179$69
44 years$1,580$943$540$300$163$61
45 years$1,528$899$507$277$148$54
46 years$1,478$858$476$256$134$48
47 years$1,430$819$448$236$122$42
48 years$1,384$782$421$218$110$37
49 years$1,340$746$395$202$100$33
50 years$1,299$713$372$186$91$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,330,000, adding $3,493 every year, while hoping to spend $39,266 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: 82/9/9 Blend
61$1,330,000$1,330,000$1,330,000$1,330,000
62$1,469,263$1,398,773$1,378,158$1,587,604
63$1,577,349$1,425,534$1,382,548$1,692,343
64$1,695,144$1,452,291$1,385,768$1,801,732
65$1,823,596$1,479,001$1,387,739$1,920,636
66$1,963,751$1,505,619$1,388,376$2,049,985
67$2,116,757$1,532,098$1,387,590$2,190,805
68$2,283,879$1,558,384$1,385,287$2,344,227
69$2,466,511$1,584,421$1,381,371$2,511,494
70$2,666,187$1,610,149$1,375,738$2,693,979
71$2,884,594$1,635,503$1,368,282$2,893,189
72$3,123,592$1,660,412$1,358,889$3,110,789
73$3,385,228$1,684,802$1,347,441$3,348,610
74$3,671,757$1,708,592$1,333,816$3,608,671
75$3,985,660$1,731,698$1,317,883$3,893,195
76$4,329,673$1,754,026$1,299,507$4,204,630
77$4,706,804$1,775,478$1,278,546$4,545,677
78$5,120,372$1,795,950$1,254,850$4,919,307
79$5,574,028$1,815,330$1,228,266$5,328,796
80$6,071,796$1,833,498$1,198,629$5,777,754
81$6,618,106$1,850,326$1,165,770$6,270,157
82$7,217,839$1,865,679$1,129,511$6,810,387
83$7,876,373$1,879,411$1,089,664$7,403,271
84$8,599,631$1,891,370$1,046,035$8,054,129
85$9,394,136$1,901,390$998,420$8,768,823
86$10,267,078$1,909,298$946,607$9,553,812
87$11,226,374$1,914,908$890,372$10,416,214
88$12,280,748$1,918,022$829,483$11,363,871
89$13,439,810$1,918,431$763,697$12,405,425
90$14,714,149$1,915,912$692,759$13,550,401
91$16,115,430$1,910,230$616,405$14,809,293
92$17,656,506$1,901,133$534,356$16,193,666
93$19,351,536$1,888,355$446,324$17,716,263
94$21,216,123$1,871,615$352,005$19,391,129
95$23,267,455$1,850,612$251,086$21,233,738
96$25,524,473$1,825,029$143,234$23,261,146
97$28,008,044$1,794,531$28,108$25,492,146
98$30,741,162$1,758,760$0$27,947,449
99$33,749,162$1,717,340$0$30,658,978
100$37,059,958$1,669,872$0$33,646,256