Can I retire at age 62 with 1,690,000?

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 $1,690,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$139,559$138,316$137,103$135,919$134,763$131,666
2 years$69,088$67,802$66,555$65,346$64,173$61,069
3 years$45,601$44,309$43,065$41,868$40,714$37,701
4 years$33,860$32,572$31,341$30,163$29,037$26,139
5 years$26,817$25,537$24,322$23,168$22,074$19,297
6 years$22,124$20,853$19,655$18,528$17,466$14,815
7 years$18,772$17,512$16,334$15,233$14,205$11,679
8 years$16,260$15,011$13,852$12,778$11,784$9,383
9 years$14,307$13,070$11,931$10,884$9,924$7,645
10 years$12,745$11,520$10,402$9,382$8,456$6,297
11 years$11,469$10,256$9,157$8,166$7,272$5,231
12 years$10,405$9,205$8,127$7,162$6,302$4,375
13 years$9,507$8,319$7,261$6,323$5,495$3,679
14 years$8,737$7,562$6,524$5,613$4,817$3,107
15 years$8,070$6,908$5,890$5,006$4,241$2,634
16 years$7,487$6,338$5,340$4,482$3,749$2,240
17 years$6,974$5,837$4,860$4,027$3,324$1,910
18 years$6,518$5,393$4,436$3,629$2,955$1,631
19 years$6,110$4,999$4,061$3,279$2,634$1,396
20 years$5,744$4,645$3,727$2,970$2,353$1,197
21 years$5,413$4,327$3,428$2,696$2,106$1,027
22 years$5,112$4,039$3,160$2,451$1,887$883
23 years$4,838$3,777$2,917$2,232$1,694$759
24 years$4,587$3,539$2,698$2,036$1,523$653
25 years$4,357$3,321$2,499$1,859$1,370$563
26 years$4,145$3,121$2,318$1,700$1,234$485
27 years$3,949$2,938$2,152$1,556$1,113$418
28 years$3,767$2,768$2,001$1,426$1,004$361
29 years$3,598$2,611$1,862$1,307$907$311
30 years$3,440$2,466$1,734$1,200$819$269
31 years$3,293$2,331$1,617$1,102$741$232
32 years$3,156$2,206$1,508$1,013$670$201
33 years$3,027$2,089$1,408$931$606$173
34 years$2,905$1,980$1,316$857$549$150
35 years$2,791$1,878$1,230$789$497$129
36 years$2,684$1,782$1,151$726$451$112
37 years$2,583$1,693$1,077$669$408$97
38 years$2,487$1,609$1,009$617$370$84
39 years$2,396$1,530$945$569$336$72
40 years$2,310$1,456$886$525$304$62
41 years$2,229$1,386$831$484$276$54
42 years$2,152$1,320$779$447$251$47
43 years$2,078$1,257$731$412$227$40
44 years$2,008$1,198$686$381$206$35
45 years$1,941$1,143$644$352$187$30
46 years$1,878$1,090$605$325$170$26
47 years$1,817$1,040$569$300$155$23
48 years$1,759$993$534$277$140$20
49 years$1,703$948$502$256$127$17
50 years$1,650$906$472$237$116$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,690,000, adding $6,680 every year, while hoping to spend $44,724 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: 61/24/15 Blend
61$1,690,000$1,690,000$1,690,000$1,690,000
62$1,869,270$1,779,700$1,753,505$1,975,911
63$2,012,350$1,819,320$1,764,662$2,088,100
64$2,168,525$1,859,381$1,774,693$2,204,843
65$2,339,083$1,899,860$1,783,514$2,331,177
66$2,525,444$1,940,727$1,791,036$2,468,033
67$2,729,168$1,981,952$1,797,164$2,616,439
68$2,951,975$2,023,499$1,801,801$2,777,527
69$3,195,758$2,065,332$1,804,843$2,952,545
70$3,462,601$2,107,410$1,806,182$3,142,866
71$3,754,800$2,149,686$1,805,702$3,350,004
72$4,074,882$2,192,113$1,803,286$3,575,628
73$4,425,631$2,234,638$1,798,807$3,821,577
74$4,810,112$2,277,202$1,792,134$4,089,876
75$5,231,702$2,319,744$1,783,129$4,382,758
76$5,694,120$2,362,195$1,771,647$4,702,683
77$6,201,460$2,404,483$1,757,538$5,052,364
78$6,758,236$2,446,529$1,740,642$5,434,789
79$7,369,416$2,488,248$1,720,793$5,853,251
80$8,040,473$2,529,550$1,697,817$6,311,380
81$8,777,440$2,570,336$1,671,532$6,813,178
82$9,586,957$2,610,501$1,641,747$7,363,053
83$10,476,343$2,649,931$1,608,261$7,965,865
84$11,453,659$2,688,507$1,570,867$8,626,971
85$12,527,786$2,726,098$1,529,345$9,352,275
86$13,708,508$2,762,565$1,483,466$10,148,283
87$15,006,605$2,797,760$1,432,992$11,022,168
88$16,433,953$2,831,524$1,377,671$11,981,833
89$18,003,635$2,863,688$1,317,242$13,035,992
90$19,730,068$2,894,070$1,251,432$14,194,246
91$21,629,134$2,922,479$1,179,953$15,467,181
92$23,718,332$2,948,707$1,102,509$16,866,461
93$26,016,944$2,972,536$1,018,785$18,404,945
94$28,546,214$2,993,731$928,455$20,096,804
95$31,329,548$3,012,045$831,179$21,957,657
96$34,392,739$3,027,212$726,601$24,004,721
97$37,764,204$3,038,951$614,347$26,256,970
98$41,475,256$3,046,962$494,031$28,735,318
99$45,560,396$3,050,928$365,245$31,462,816
100$50,057,643$3,050,510$227,568$34,464,868