Can I retire at age 62 with 1,500,000?

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 $1,500,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14%
1 years$123,869$122,765$121,689$120,638$119,612$117,631
2 years$61,321$60,179$59,072$57,999$56,958$54,968
3 years$40,475$39,328$38,224$37,161$36,137$34,199
4 years$30,053$28,910$27,817$26,772$25,773$23,903
5 years$23,802$22,666$21,587$20,564$19,592$17,796
6 years$19,636$18,508$17,446$16,445$15,503$13,781
7 years$16,662$15,543$14,497$13,520$12,608$10,962
8 years$14,432$13,323$12,295$11,342$10,459$8,889
9 years$12,698$11,600$10,590$9,661$8,808$7,313
10 years$11,312$10,225$9,232$8,328$7,505$6,083
11 years$10,179$9,103$8,128$7,247$6,455$5,104
12 years$9,236$8,170$7,213$6,357$5,593$4,313
13 years$8,438$7,384$6,445$5,612$4,878$3,666
14 years$7,754$6,711$5,791$4,982$4,276$3,130
15 years$7,163$6,131$5,228$4,443$3,765$2,683
16 years$6,646$5,625$4,740$3,978$3,327$2,307
17 years$6,190$5,181$4,313$3,574$2,950$1,990
18 years$5,785$4,787$3,937$3,221$2,623$1,720
19 years$5,423$4,437$3,605$2,911$2,338$1,490
20 years$5,098$4,123$3,308$2,636$2,088$1,292
21 years$4,804$3,840$3,043$2,393$1,869$1,123
22 years$4,537$3,585$2,804$2,175$1,675$977
23 years$4,294$3,353$2,589$1,981$1,504$851
24 years$4,072$3,141$2,395$1,807$1,352$741
25 years$3,867$2,948$2,218$1,650$1,216$647
26 years$3,679$2,770$2,057$1,509$1,096$565
27 years$3,505$2,607$1,910$1,381$988$493
28 years$3,343$2,457$1,776$1,265$891$431
29 years$3,193$2,318$1,652$1,160$805$377
30 years$3,053$2,189$1,539$1,065$727$330
31 years$2,923$2,069$1,435$978$657$288
32 years$2,801$1,958$1,339$899$595$253
33 years$2,686$1,854$1,250$827$538$221
34 years$2,579$1,757$1,168$761$487$194
35 years$2,478$1,667$1,092$700$441$170
36 years$2,382$1,582$1,022$645$400$149
37 years$2,292$1,503$956$594$362$130
38 years$2,207$1,428$895$548$329$114
39 years$2,127$1,358$839$505$298$100
40 years$2,051$1,292$786$466$270$88
41 years$1,978$1,230$737$430$245$77
42 years$1,910$1,171$692$397$222$67
43 years$1,844$1,116$649$366$202$59
44 years$1,782$1,064$609$338$183$52
45 years$1,723$1,014$572$312$166$45
46 years$1,666$968$537$288$151$40
47 years$1,613$923$505$266$137$35
48 years$1,561$882$474$246$125$31
49 years$1,512$842$446$227$113$27
50 years$1,465$804$419$210$103$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,500,000, adding $4,972 every year, while hoping to spend $38,810 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: 55/24/21 Blend
61$1,500,000$1,500,000$1,500,000$1,500,000
62$1,658,129$1,578,629$1,555,379$1,739,615
63$1,785,964$1,614,688$1,566,190$1,831,998
64$1,925,538$1,651,213$1,576,063$1,928,029
65$2,078,007$1,688,187$1,584,925$2,031,773
66$2,244,644$1,725,588$1,592,700$2,143,979
67$2,426,850$1,763,394$1,599,308$2,265,473
68$2,626,169$1,801,580$1,604,665$2,397,167
69$2,844,299$1,840,119$1,608,682$2,540,063
70$3,083,111$1,878,979$1,611,267$2,695,269
71$3,344,667$1,918,127$1,612,323$2,864,004
72$3,631,234$1,957,526$1,611,747$3,047,611
73$3,945,311$1,997,136$1,609,432$3,247,572
74$4,289,650$2,036,914$1,605,265$3,465,519
75$4,667,283$2,076,810$1,599,130$3,703,252
76$5,081,547$2,116,775$1,590,902$3,962,755
77$5,536,119$2,156,751$1,580,451$4,246,213
78$6,035,049$2,196,678$1,567,642$4,556,037
79$6,582,799$2,236,490$1,552,333$4,894,884
80$7,184,283$2,276,117$1,534,375$5,265,682
81$7,844,915$2,315,481$1,513,611$5,671,660
82$8,570,658$2,354,502$1,489,879$6,116,376
83$9,368,081$2,393,089$1,463,006$6,603,752
84$10,244,424$2,431,148$1,432,815$7,138,114
85$11,207,658$2,468,578$1,399,118$7,724,227
86$12,266,569$2,505,268$1,361,718$8,367,345
87$13,430,834$2,541,101$1,320,411$9,073,262
88$14,711,116$2,575,952$1,274,981$9,848,360
89$16,119,163$2,609,686$1,225,206$10,699,679
90$17,667,917$2,642,160$1,170,850$11,634,975
91$19,371,638$2,673,220$1,111,667$12,662,801
92$21,246,040$2,702,703$1,047,403$13,792,583
93$23,308,433$2,730,432$977,788$15,034,711
94$25,577,892$2,756,222$902,542$16,400,639
95$28,075,434$2,779,874$821,374$17,902,992
96$30,824,216$2,801,175$733,978$19,555,686
97$33,849,754$2,819,901$640,034$21,374,061
98$37,180,163$2,835,810$539,210$23,375,025
99$40,846,422$2,848,648$431,156$25,577,213
100$44,882,667$2,858,141$315,510$28,001,170