Can I retire at age 62 with 1,680,000?

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 $1,680,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$138,733$137,497$136,291$135,115$133,966$131,422
2 years$68,680$67,401$66,161$64,959$63,793$61,240
3 years$45,332$44,047$42,810$41,620$40,473$37,991
4 years$33,660$32,379$31,155$29,985$28,866$26,473
5 years$26,659$25,386$24,178$23,031$21,943$19,647
6 years$21,993$20,729$19,539$18,418$17,363$15,166
7 years$18,661$17,408$16,237$15,143$14,121$12,023
8 years$16,164$14,922$13,770$12,703$11,714$9,716
9 years$14,222$12,993$11,860$10,820$9,865$7,964
10 years$12,670$11,452$10,340$9,327$8,406$6,600
11 years$11,401$10,195$9,103$8,117$7,229$5,518
12 years$10,344$9,151$8,079$7,120$6,265$4,645
13 years$9,450$8,270$7,218$6,286$5,463$3,932
14 years$8,685$7,517$6,485$5,580$4,789$3,343
15 years$8,022$6,867$5,855$4,976$4,216$2,854
16 years$7,443$6,300$5,309$4,456$3,726$2,444
17 years$6,932$5,802$4,831$4,003$3,304$2,099
18 years$6,479$5,361$4,410$3,608$2,938$1,806
19 years$6,074$4,969$4,037$3,260$2,619$1,557
20 years$5,710$4,617$3,705$2,953$2,339$1,345
21 years$5,381$4,301$3,408$2,680$2,093$1,163
22 years$5,082$4,015$3,141$2,436$1,876$1,007
23 years$4,810$3,755$2,900$2,219$1,684$873
24 years$4,560$3,518$2,682$2,024$1,514$758
25 years$4,331$3,302$2,484$1,848$1,362$658
26 years$4,120$3,103$2,304$1,690$1,227$571
27 years$3,925$2,920$2,139$1,547$1,106$497
28 years$3,744$2,752$1,989$1,417$998$432
29 years$3,576$2,596$1,851$1,300$901$376
30 years$3,420$2,452$1,724$1,193$814$327
31 years$3,274$2,318$1,607$1,095$736$285
32 years$3,137$2,193$1,500$1,007$666$248
33 years$3,009$2,077$1,400$926$603$216
34 years$2,888$1,968$1,308$852$546$188
35 years$2,775$1,867$1,223$784$494$164
36 years$2,668$1,772$1,144$722$448$143
37 years$2,567$1,683$1,071$665$406$125
38 years$2,472$1,599$1,003$613$368$109
39 years$2,382$1,521$940$565$334$95
40 years$2,297$1,447$881$522$303$83
41 years$2,216$1,377$826$481$275$72
42 years$2,139$1,312$775$444$249$63
43 years$2,066$1,250$727$410$226$55
44 years$1,996$1,191$682$379$205$48
45 years$1,930$1,136$641$350$186$42
46 years$1,866$1,084$602$323$169$36
47 years$1,806$1,034$565$298$154$32
48 years$1,748$987$531$276$140$28
49 years$1,693$943$499$255$127$24
50 years$1,640$901$469$235$115$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,680,000, adding $3,547 every year, while hoping to spend $43,532 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: 55/28/17 Blend
61$1,680,000$1,680,000$1,680,000$1,680,000
62$1,855,019$1,765,979$1,739,939$1,948,452
63$1,997,913$1,806,194$1,751,909$2,052,750
64$2,153,923$1,846,921$1,762,821$2,161,297
65$2,324,342$1,888,138$1,772,594$2,278,525
66$2,510,591$1,929,823$1,781,142$2,405,273
67$2,714,236$1,971,949$1,788,375$2,542,467
68$2,937,001$2,014,487$1,794,198$2,691,127
69$3,180,784$2,057,406$1,798,513$2,852,377
70$3,447,676$2,100,671$1,801,215$3,027,456
71$3,739,977$2,144,243$1,802,195$3,217,727
72$4,060,224$2,188,080$1,801,338$3,424,695
73$4,411,208$2,232,136$1,798,523$3,650,017
74$4,796,002$2,276,362$1,793,624$3,895,520
75$5,217,993$2,320,702$1,786,509$4,163,217
76$5,680,910$2,365,099$1,777,039$4,455,328
77$6,188,861$2,409,487$1,765,068$4,774,296
78$6,746,370$2,453,798$1,750,444$5,122,818
79$7,358,423$2,497,957$1,733,007$5,503,866
80$8,030,508$2,541,883$1,712,589$5,920,712
81$8,768,675$2,585,489$1,689,015$6,376,968
82$9,579,584$2,628,683$1,662,101$6,876,611
83$10,470,576$2,671,363$1,631,656$7,424,027
84$11,449,737$2,713,421$1,597,478$8,024,049
85$12,525,973$2,754,742$1,559,357$8,682,006
86$13,709,099$2,795,201$1,517,072$9,403,771
87$15,009,926$2,834,665$1,470,393$10,195,817
88$16,440,366$2,872,991$1,419,079$11,065,281
89$18,013,543$2,910,028$1,362,878$12,020,027
90$19,743,917$2,945,611$1,301,526$13,068,725
91$21,647,417$2,979,567$1,234,749$14,220,933
92$23,741,598$3,011,710$1,162,257$15,487,183
93$26,045,799$3,041,842$1,083,751$16,879,087
94$28,581,329$3,069,751$998,915$18,409,443
95$31,371,667$3,095,211$907,421$20,092,358
96$34,442,683$3,117,982$808,926$21,943,382
97$37,822,883$3,137,810$703,071$23,979,653
98$41,543,675$3,154,420$589,482$26,220,063
99$45,639,668$3,167,525$467,767$28,685,435
100$50,148,996$3,176,816$337,520$31,398,721