Can I retire at age 62 with 1,460,000?

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 $1,460,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$120,565$119,492$118,444$117,421$116,422$113,932
2 years$59,686$58,574$57,497$56,452$55,439$52,942
3 years$39,395$38,279$37,204$36,170$35,173$32,748
4 years$29,252$28,139$27,075$26,058$25,086$22,750
5 years$23,168$22,061$21,011$20,015$19,070$16,831
6 years$19,113$18,015$16,980$16,006$15,089$12,950
7 years$16,217$15,129$14,111$13,160$12,272$10,232
8 years$14,047$12,968$11,967$11,039$10,180$8,239
9 years$12,360$11,291$10,307$9,403$8,573$6,730
10 years$11,011$9,953$8,986$8,106$7,305$5,557
11 years$9,908$8,860$7,911$7,054$6,283$4,628
12 years$8,989$7,952$7,021$6,188$5,444$3,880
13 years$8,213$7,187$6,273$5,463$4,748$3,272
14 years$7,548$6,532$5,636$4,849$4,162$2,771
15 years$6,972$5,968$5,089$4,325$3,664$2,356
16 years$6,468$5,475$4,614$3,872$3,238$2,009
17 years$6,025$5,042$4,198$3,479$2,871$1,717
18 years$5,631$4,659$3,832$3,135$2,553$1,472
19 years$5,279$4,318$3,508$2,833$2,276$1,263
20 years$4,962$4,013$3,220$2,566$2,033$1,086
21 years$4,676$3,738$2,962$2,329$1,819$935
22 years$4,416$3,489$2,730$2,117$1,631$806
23 years$4,180$3,263$2,520$1,928$1,464$695
24 years$3,963$3,057$2,331$1,759$1,316$600
25 years$3,764$2,869$2,159$1,606$1,184$519
26 years$3,581$2,697$2,002$1,469$1,066$449
27 years$3,411$2,538$1,859$1,344$961$388
28 years$3,254$2,391$1,728$1,232$867$336
29 years$3,108$2,256$1,608$1,129$783$291
30 years$2,972$2,131$1,498$1,037$708$252
31 years$2,845$2,014$1,397$952$640$218
32 years$2,726$1,906$1,303$875$579$189
33 years$2,615$1,805$1,217$805$524$164
34 years$2,510$1,710$1,137$740$474$142
35 years$2,412$1,622$1,063$681$430$123
36 years$2,319$1,540$994$628$389$107
37 years$2,231$1,463$931$578$353$93
38 years$2,149$1,390$872$533$320$80
39 years$2,070$1,322$817$491$290$70
40 years$1,996$1,257$765$453$263$61
41 years$1,926$1,197$718$418$239$53
42 years$1,859$1,140$673$386$217$46
43 years$1,795$1,086$632$356$197$40
44 years$1,735$1,035$593$329$178$34
45 years$1,677$987$557$304$162$30
46 years$1,622$942$523$281$147$26
47 years$1,570$899$491$259$134$22
48 years$1,519$858$462$240$121$19
49 years$1,471$819$434$221$110$17
50 years$1,425$783$408$205$100$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,460,000, adding $2,402 every year, while hoping to spend $24,089 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: 74/7/19 Blend
61$1,460,000$1,460,000$1,460,000$1,460,000
62$1,611,398$1,534,018$1,511,388$1,723,278
63$1,750,130$1,583,554$1,536,389$1,847,355
64$1,902,205$1,634,710$1,561,420$1,980,110
65$2,068,959$1,687,540$1,586,457$2,124,961
66$2,251,863$1,742,100$1,611,473$2,283,108
67$2,452,538$1,798,447$1,636,442$2,455,870
68$2,672,767$1,856,642$1,661,333$2,644,701
69$2,914,517$1,916,744$1,686,115$2,851,203
70$3,179,952$1,978,820$1,710,755$3,077,140
71$3,471,459$2,042,934$1,735,217$3,324,455
72$3,791,665$2,109,155$1,759,464$3,595,289
73$4,143,465$2,177,553$1,783,456$3,891,999
74$4,530,047$2,248,202$1,807,150$4,217,184
75$4,954,925$2,321,177$1,830,503$4,573,704
76$5,421,969$2,396,557$1,853,467$4,964,714
77$5,935,444$2,474,422$1,875,992$5,393,686
78$6,500,046$2,554,856$1,898,025$5,864,447
79$7,120,953$2,637,945$1,919,510$6,381,213
80$7,803,865$2,723,780$1,940,389$6,948,631
81$8,555,067$2,812,453$1,960,600$7,571,818
82$9,381,481$2,904,060$1,980,077$8,256,413
83$10,290,733$2,998,700$1,998,751$9,008,631
84$11,291,228$3,096,477$2,016,549$9,835,317
85$12,392,225$3,197,496$2,033,395$10,744,016
86$13,603,926$3,301,867$2,049,208$11,743,039
87$14,937,573$3,409,705$2,063,903$12,841,546
88$16,405,553$3,521,128$2,077,391$14,049,629
89$18,021,513$3,636,257$2,089,577$15,378,409
90$19,800,494$3,755,219$2,100,364$16,840,140
91$21,759,064$3,878,146$2,109,646$18,448,323
92$23,915,485$4,005,171$2,117,316$20,217,839
93$26,289,877$4,136,436$2,123,258$22,165,083
94$28,904,409$4,272,086$2,127,352$24,308,121
95$31,783,512$4,412,272$2,129,471$26,666,861
96$34,954,105$4,557,148$2,129,484$29,263,243
97$38,445,852$4,706,877$2,127,250$32,121,440
98$42,291,439$4,861,624$2,122,623$35,268,092
99$46,526,886$5,021,564$2,115,451$38,732,555
100$51,191,883$5,186,875$2,105,573$42,547,176