Can I retire at age 62 with 1,510,000?

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 $1,510,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$124,694$123,584$122,500$121,442$120,410$117,930
2 years$61,730$60,580$59,466$58,386$57,338$54,851
3 years$40,744$39,590$38,478$37,408$36,377$33,961
4 years$30,254$29,103$28,002$26,951$25,945$23,617
5 years$23,961$22,817$21,731$20,701$19,723$17,491
6 years$19,767$18,632$17,562$16,554$15,606$13,472
7 years$16,773$15,647$14,594$13,610$12,692$10,656
8 years$14,528$13,412$12,377$11,417$10,529$8,591
9 years$12,783$11,678$10,660$9,725$8,867$7,026
10 years$11,388$10,293$9,294$8,383$7,555$5,808
11 years$10,247$9,164$8,182$7,296$6,498$4,843
12 years$9,297$8,225$7,261$6,399$5,631$4,066
13 years$8,494$7,433$6,488$5,650$4,910$3,433
14 years$7,806$6,756$5,829$5,015$4,304$2,912
15 years$7,211$6,172$5,263$4,473$3,790$2,479
16 years$6,690$5,663$4,772$4,005$3,349$2,117
17 years$6,231$5,215$4,342$3,598$2,970$1,812
18 years$5,823$4,819$3,964$3,243$2,641$1,555
19 years$5,459$4,466$3,629$2,930$2,354$1,337
20 years$5,132$4,150$3,330$2,654$2,102$1,151
21 years$4,836$3,866$3,063$2,408$1,881$993
22 years$4,568$3,608$2,823$2,190$1,686$857
23 years$4,323$3,375$2,607$1,994$1,514$740
24 years$4,099$3,162$2,411$1,819$1,361$640
25 years$3,893$2,967$2,233$1,661$1,224$554
26 years$3,703$2,789$2,071$1,519$1,103$480
27 years$3,528$2,625$1,923$1,390$994$416
28 years$3,365$2,473$1,788$1,274$897$361
29 years$3,214$2,333$1,664$1,168$810$313
30 years$3,074$2,204$1,549$1,072$732$271
31 years$2,942$2,083$1,445$985$662$235
32 years$2,819$1,971$1,348$905$599$204
33 years$2,704$1,867$1,258$832$542$177
34 years$2,596$1,769$1,176$766$491$154
35 years$2,494$1,678$1,099$705$444$134
36 years$2,398$1,593$1,028$649$403$116
37 years$2,308$1,513$963$598$365$101
38 years$2,222$1,438$901$551$331$88
39 years$2,141$1,367$844$508$300$76
40 years$2,064$1,301$792$469$272$66
41 years$1,992$1,238$742$433$247$58
42 years$1,922$1,179$696$399$224$50
43 years$1,857$1,123$653$368$203$44
44 years$1,794$1,071$613$340$184$38
45 years$1,734$1,021$576$314$167$33
46 years$1,678$974$541$290$152$29
47 years$1,623$930$508$268$138$25
48 years$1,571$887$477$248$125$22
49 years$1,522$847$449$229$114$19
50 years$1,474$809$422$212$103$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,510,000, adding $5,540 every year, while hoping to spend $28,690 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: 21/50/29 Blend
61$1,510,000$1,510,000$1,510,000$1,510,000
62$1,669,735$1,589,705$1,566,300$1,689,336
63$1,809,521$1,637,074$1,588,245$1,755,124
64$1,962,605$1,685,803$1,609,963$1,822,672
65$2,130,312$1,735,928$1,631,418$1,894,258
66$2,314,101$1,787,486$1,652,568$1,970,229
67$2,515,581$1,840,515$1,673,371$2,050,963
68$2,736,524$1,895,054$1,693,783$2,136,878
69$2,978,881$1,951,143$1,713,755$2,228,431
70$3,244,799$2,008,821$1,733,238$2,326,126
71$3,536,646$2,068,131$1,752,180$2,430,517
72$3,857,030$2,129,115$1,770,523$2,542,212
73$4,208,821$2,191,816$1,788,210$2,661,882
74$4,595,184$2,256,278$1,805,178$2,790,263
75$5,019,603$2,322,546$1,821,362$2,928,166
76$5,485,918$2,390,667$1,836,693$3,076,482
77$5,998,358$2,460,686$1,851,099$3,236,194
78$6,561,583$2,532,651$1,864,503$3,408,381
79$7,180,725$2,606,612$1,876,825$3,594,234
80$7,861,441$2,682,618$1,887,980$3,795,061
81$8,609,960$2,760,718$1,897,879$4,012,305
82$9,433,148$2,840,965$1,906,430$4,247,553
83$10,338,567$2,923,411$1,913,534$4,502,553
84$11,334,552$3,008,109$1,919,088$4,779,232
85$12,430,282$3,095,113$1,922,984$5,079,710
86$13,635,875$3,184,477$1,925,108$5,406,322
87$14,962,476$3,276,258$1,925,340$5,761,642
88$16,422,366$3,370,512$1,923,556$6,148,504
89$18,029,076$3,467,296$1,919,625$6,570,030
90$19,797,518$3,566,670$1,913,408$7,029,661
91$21,744,119$3,668,691$1,904,762$7,531,185
92$23,886,982$3,773,419$1,893,534$8,078,779
93$26,246,053$3,880,916$1,879,567$8,677,043
94$28,843,312$3,991,242$1,862,693$9,331,044
95$31,702,976$4,104,459$1,842,739$10,046,369
96$34,851,731$4,220,629$1,819,523$10,829,172
97$38,318,983$4,339,816$1,792,853$11,686,232
98$42,137,136$4,462,083$1,762,529$12,625,023
99$46,341,892$4,587,494$1,728,343$13,653,778
100$50,972,597$4,716,113$1,690,074$14,781,571