Can I retire at age 62 with 1,400,000?

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 $1,400,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$115,611$114,581$113,576$112,596$111,638$109,116
2 years$57,233$56,167$55,134$54,132$53,161$50,634
3 years$37,776$36,706$35,675$34,683$33,727$31,274
4 years$28,050$26,983$25,963$24,987$24,055$21,694
5 years$22,216$21,155$20,148$19,193$18,286$16,024
6 years$18,327$17,274$16,283$15,349$14,469$12,309
7 years$15,551$14,507$13,531$12,619$11,767$9,709
8 years$13,470$12,435$11,475$10,586$9,762$7,805
9 years$11,852$10,827$9,884$9,017$8,221$6,363
10 years$10,558$9,544$8,617$7,772$7,005$5,244
11 years$9,501$8,496$7,586$6,764$6,024$4,359
12 years$8,620$7,626$6,732$5,933$5,221$3,648
13 years$7,875$6,891$6,015$5,238$4,552$3,070
14 years$7,237$6,264$5,405$4,650$3,991$2,595
15 years$6,685$5,722$4,880$4,147$3,514$2,201
16 years$6,203$5,250$4,424$3,713$3,105$1,873
17 years$5,777$4,835$4,026$3,336$2,753$1,598
18 years$5,399$4,468$3,675$3,007$2,448$1,366
19 years$5,062$4,141$3,364$2,717$2,182$1,170
20 years$4,758$3,848$3,088$2,460$1,949$1,004
21 years$4,484$3,584$2,840$2,233$1,744$862
22 years$4,235$3,346$2,617$2,030$1,563$741
23 years$4,008$3,129$2,417$1,849$1,403$638
24 years$3,800$2,932$2,235$1,686$1,261$550
25 years$3,609$2,751$2,070$1,540$1,135$474
26 years$3,434$2,586$1,920$1,408$1,022$409
27 years$3,271$2,434$1,783$1,289$922$353
28 years$3,120$2,293$1,657$1,181$832$305
29 years$2,980$2,163$1,542$1,083$751$263
30 years$2,850$2,043$1,437$994$679$227
31 years$2,728$1,931$1,339$913$614$196
32 years$2,614$1,827$1,250$839$555$170
33 years$2,507$1,731$1,167$771$502$147
34 years$2,407$1,640$1,090$710$455$127
35 years$2,312$1,556$1,019$653$412$110
36 years$2,224$1,477$953$602$373$95
37 years$2,140$1,402$892$554$338$82
38 years$2,060$1,333$836$511$307$71
39 years$1,985$1,267$783$471$278$62
40 years$1,914$1,206$734$435$252$53
41 years$1,847$1,148$688$401$229$46
42 years$1,782$1,093$646$370$208$40
43 years$1,721$1,042$606$342$188$35
44 years$1,663$993$569$315$171$30
45 years$1,608$947$534$291$155$26
46 years$1,555$903$501$269$141$22
47 years$1,505$862$471$249$128$19
48 years$1,457$823$443$230$116$17
49 years$1,411$786$416$212$106$15
50 years$1,367$751$391$196$96$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,400,000, adding $2,725 every year, while hoping to spend $56,572 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: 71/9/20 Blend
61$1,400,000$1,400,000$1,400,000$1,400,000
62$1,545,611$1,471,411$1,449,711$1,647,653
63$1,643,071$1,483,318$1,438,084$1,727,891
64$1,748,576$1,493,912$1,424,172$1,808,724
65$1,862,887$1,503,070$1,407,837$1,895,814
66$1,986,840$1,510,659$1,388,938$1,989,776
67$2,121,355$1,516,539$1,367,326$2,091,285
68$2,267,445$1,520,560$1,342,842$2,201,087
69$2,426,221$1,522,565$1,315,325$2,320,003
70$2,598,909$1,522,384$1,284,601$2,448,940
71$2,786,855$1,519,838$1,250,493$2,588,900
72$2,991,542$1,514,738$1,212,812$2,740,983
73$3,214,600$1,506,881$1,171,362$2,906,408
74$3,457,825$1,496,054$1,125,938$3,086,517
75$3,723,191$1,482,029$1,076,325$3,282,789
76$4,012,874$1,464,566$1,022,300$3,496,857
77$4,329,267$1,443,409$963,627$3,730,521
78$4,675,006$1,418,289$900,061$3,985,767
79$5,052,990$1,388,919$831,347$4,264,786
80$5,466,415$1,354,996$757,217$4,569,992
81$5,918,796$1,316,198$677,391$4,904,050
82$6,414,007$1,272,185$591,577$5,269,897
83$6,956,311$1,222,598$499,471$5,670,772
84$7,550,405$1,167,055$400,753$6,110,249
85$8,201,460$1,105,154$295,091$6,592,266
86$8,915,171$1,036,469$182,139$7,121,170
87$9,697,811$960,549$61,534$7,701,749
88$10,556,289$876,917$0$8,339,288
89$11,498,215$785,070$0$9,053,946
90$12,531,970$684,477$0$9,852,757
91$13,666,789$574,573$0$10,729,746
92$14,912,840$454,766$0$11,692,814
93$16,281,328$324,428$0$12,750,667
94$17,784,593$182,895$0$13,912,898
95$19,436,233$29,469$0$15,190,078
96$21,251,225$0$0$16,593,857
97$23,246,070$0$0$18,150,597
98$25,438,947$0$0$19,865,163
99$27,849,882$0$0$21,750,306
100$30,500,943$0$0$23,823,288