Can I retire at age 62 with 1,590,000?

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 $1,590,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19%
1 years$131,301$130,131$128,990$127,876$126,789$122,193
2 years$65,000$63,790$62,617$61,479$60,376$55,796
3 years$42,903$41,687$40,517$39,390$38,305$33,885
4 years$31,857$30,645$29,486$28,378$27,319$23,093
5 years$25,231$24,026$22,882$21,797$20,768$16,747
6 years$20,815$19,619$18,492$17,432$16,433$12,619
7 years$17,662$16,476$15,367$14,331$13,364$9,758
8 years$15,298$14,123$13,033$12,022$11,087$7,684
9 years$13,460$12,296$11,225$10,240$9,337$6,133
10 years$11,991$10,839$9,786$8,827$7,955$4,945
11 years$10,790$9,649$8,616$7,682$6,842$4,019
12 years$9,790$8,661$7,646$6,738$5,929$3,287
13 years$8,944$7,827$6,831$5,949$5,170$2,701
14 years$8,220$7,114$6,138$5,281$4,532$2,228
15 years$7,593$6,499$5,542$4,710$3,991$1,844
16 years$7,044$5,963$5,024$4,217$3,527$1,530
17 years$6,561$5,491$4,572$3,789$3,127$1,273
18 years$6,132$5,074$4,174$3,415$2,781$1,060
19 years$5,749$4,703$3,821$3,085$2,478$884
20 years$5,404$4,370$3,507$2,794$2,214$739
21 years$5,092$4,071$3,225$2,536$1,981$618
22 years$4,810$3,800$2,973$2,306$1,776$517
23 years$4,552$3,554$2,745$2,100$1,594$433
24 years$4,316$3,330$2,538$1,915$1,433$363
25 years$4,099$3,125$2,351$1,749$1,289$304
26 years$3,900$2,937$2,180$1,599$1,161$255
27 years$3,715$2,764$2,025$1,464$1,047$214
28 years$3,544$2,604$1,882$1,341$945$179
29 years$3,385$2,457$1,752$1,230$853$151
30 years$3,237$2,320$1,632$1,129$771$126
31 years$3,098$2,193$1,521$1,037$697$106
32 years$2,969$2,075$1,419$953$630$89
33 years$2,847$1,965$1,325$876$570$75
34 years$2,734$1,863$1,238$806$517$63
35 years$2,626$1,767$1,158$742$468$53
36 years$2,525$1,677$1,083$683$424$44
37 years$2,430$1,593$1,014$630$384$37
38 years$2,340$1,514$949$580$348$31
39 years$2,255$1,439$889$535$316$26
40 years$2,174$1,369$833$494$286$22
41 years$2,097$1,304$782$455$260$19
42 years$2,024$1,241$733$420$236$16
43 years$1,955$1,183$688$388$214$13
44 years$1,889$1,128$646$358$194$11
45 years$1,826$1,075$606$331$176$9
46 years$1,766$1,026$569$306$160$8
47 years$1,709$979$535$282$145$7
48 years$1,655$934$503$261$132$5
49 years$1,602$892$473$241$120$5
50 years$1,552$852$444$223$109$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,590,000, adding $3,364 every year, while hoping to spend $25,700 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: 52/21/27 Blend
61$1,590,000$1,590,000$1,590,000$1,590,000
62$1,755,650$1,671,380$1,646,735$1,833,508
63$1,907,382$1,725,933$1,674,556$1,942,467
64$2,073,729$1,782,298$1,702,448$2,058,053
65$2,256,155$1,840,536$1,730,385$2,183,279
66$2,456,271$1,900,711$1,758,342$2,319,078
67$2,675,855$1,962,890$1,786,290$2,466,473
68$2,916,861$2,027,140$1,814,200$2,626,591
69$3,181,443$2,093,533$1,842,038$2,800,674
70$3,471,976$2,162,141$1,869,772$2,990,088
71$3,791,072$2,233,041$1,897,364$3,196,339
72$4,141,613$2,306,311$1,924,777$3,421,083
73$4,526,770$2,382,033$1,951,969$3,666,144
74$4,950,038$2,460,290$1,978,898$3,933,532
75$5,415,268$2,541,171$2,005,518$4,225,461
76$5,926,702$2,624,765$2,031,779$4,544,366
77$6,489,013$2,711,166$2,057,631$4,892,934
78$7,107,350$2,800,471$2,083,020$5,274,119
79$7,787,386$2,892,780$2,107,887$5,691,180
80$8,535,371$2,988,198$2,132,173$6,147,704
81$9,358,191$3,086,832$2,155,813$6,647,644
82$10,263,434$3,188,793$2,178,739$7,195,351
83$11,259,458$3,294,198$2,200,881$7,795,624
84$12,355,475$3,403,166$2,222,163$8,453,744
85$13,561,634$3,515,822$2,242,506$9,175,535
86$14,889,117$3,632,293$2,261,826$9,967,407
87$16,350,245$3,752,714$2,280,036$10,836,428
88$17,958,595$3,877,222$2,297,042$11,790,382
89$19,729,127$4,005,961$2,312,748$12,837,845
90$21,678,323$4,139,078$2,327,050$13,988,268
91$23,824,348$4,276,729$2,339,842$15,252,062
92$26,187,214$4,419,072$2,351,010$16,640,701
93$28,788,976$4,566,272$2,360,434$18,166,824
94$31,653,933$4,718,501$2,367,990$19,844,360
95$34,808,863$4,875,936$2,373,547$21,688,656
96$38,283,272$5,038,762$2,376,966$23,716,623
97$42,109,673$5,207,169$2,378,102$25,946,893
98$46,323,896$5,381,356$2,376,804$28,399,999
99$50,965,418$5,561,528$2,372,912$31,098,566
100$56,077,745$5,747,897$2,366,259$34,067,523