Can I retire at age 62 with 1,770,000?

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 $1,770,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$146,165$144,863$143,593$142,353$141,142$140,194
2 years$72,359$71,011$69,705$68,439$67,211$66,254
3 years$47,760$46,407$45,104$43,849$42,641$41,706
4 years$35,463$34,114$32,824$31,591$30,412$29,506
5 years$28,087$26,746$25,473$24,265$23,119$22,244
6 years$23,171$21,840$20,586$19,405$18,293$17,451
7 years$19,661$18,341$17,107$15,954$14,877$14,068
8 years$17,030$15,722$14,508$13,383$12,342$11,566
9 years$14,984$13,689$12,496$11,400$10,394$9,650
10 years$13,349$12,066$10,894$9,827$8,856$8,145
11 years$12,012$10,741$9,591$8,552$7,616$6,937
12 years$10,898$9,641$8,512$7,501$6,600$5,952
13 years$9,957$8,713$7,605$6,623$5,756$5,138
14 years$9,150$7,920$6,833$5,879$5,045$4,457
15 years$8,452$7,235$6,169$5,243$4,442$3,884
16 years$7,842$6,638$5,593$4,694$3,926$3,396
17 years$7,304$6,113$5,090$4,218$3,481$2,978
18 years$6,826$5,649$4,646$3,801$3,095$2,619
19 years$6,399$5,235$4,253$3,435$2,759$2,308
20 years$6,016$4,865$3,904$3,111$2,464$2,038
21 years$5,669$4,531$3,590$2,823$2,205$1,803
22 years$5,354$4,230$3,309$2,567$1,977$1,597
23 years$5,067$3,956$3,055$2,338$1,774$1,416
24 years$4,805$3,707$2,826$2,132$1,595$1,258
25 years$4,563$3,478$2,617$1,947$1,435$1,118
26 years$4,341$3,269$2,427$1,780$1,293$995
27 years$4,135$3,077$2,254$1,630$1,166$886
28 years$3,945$2,899$2,095$1,493$1,052$789
29 years$3,768$2,735$1,950$1,369$950$704
30 years$3,603$2,583$1,816$1,257$858$628
31 years$3,449$2,442$1,693$1,154$776$560
32 years$3,305$2,310$1,580$1,061$702$500
33 years$3,170$2,188$1,475$975$635$447
34 years$3,043$2,074$1,378$897$575$399
35 years$2,924$1,967$1,289$826$521$357
36 years$2,811$1,867$1,205$761$472$319
37 years$2,705$1,773$1,128$701$428$285
38 years$2,605$1,685$1,057$646$388$255
39 years$2,510$1,602$990$596$352$228
40 years$2,420$1,524$928$550$319$204
41 years$2,335$1,451$870$507$289$183
42 years$2,253$1,382$816$468$263$164
43 years$2,176$1,317$766$432$238$146
44 years$2,103$1,255$719$399$216$131
45 years$2,033$1,197$675$368$196$117
46 years$1,966$1,142$634$340$178$105
47 years$1,903$1,090$596$314$162$94
48 years$1,842$1,040$560$290$147$84
49 years$1,784$993$526$268$134$75
50 years$1,728$949$495$248$121$68

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,770,000, adding $5,372 every year, while hoping to spend $52,353 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: 58/28/14 Blend
61$1,770,000$1,770,000$1,770,000$1,770,000
62$1,956,081$1,862,271$1,834,836$2,062,288
63$2,099,898$1,897,819$1,840,600$2,170,236
64$2,256,630$1,933,355$1,844,802$2,281,594
65$2,427,539$1,968,821$1,847,335$2,401,756
66$2,614,013$2,004,159$1,848,086$2,531,576
67$2,817,582$2,039,302$1,846,937$2,671,994
68$3,039,928$2,074,181$1,843,762$2,824,049
69$3,282,905$2,108,720$1,838,433$2,988,882
70$3,548,552$2,142,838$1,830,811$3,167,756
71$3,839,115$2,176,448$1,820,754$3,362,057
72$4,157,067$2,209,456$1,808,111$3,573,320
73$4,505,130$2,241,761$1,792,725$3,803,230
74$4,886,302$2,273,257$1,774,430$4,053,650
75$5,303,887$2,303,828$1,753,055$4,326,631
76$5,761,519$2,333,351$1,728,418$4,624,436
77$6,263,203$2,361,695$1,700,330$4,949,557
78$6,813,351$2,388,719$1,668,592$5,304,745
79$7,416,820$2,414,274$1,632,997$5,693,031
80$8,078,961$2,438,198$1,593,327$6,117,755
81$8,805,667$2,460,322$1,549,356$6,582,603
82$9,603,431$2,480,463$1,500,845$7,091,637
83$10,479,403$2,498,429$1,447,546$7,649,334
84$11,441,462$2,514,012$1,389,199$8,260,631
85$12,498,286$2,526,993$1,325,532$8,930,973
86$13,659,434$2,537,138$1,256,260$9,666,358
87$14,935,439$2,544,201$1,181,087$10,473,405
88$16,337,902$2,547,915$1,099,702$11,359,405
89$17,879,607$2,548,001$1,011,781$12,332,401
90$19,574,635$2,544,162$916,984$13,401,256
91$21,438,503$2,536,081$814,958$14,575,744
92$23,488,304$2,523,422$705,332$15,866,640
93$25,742,871$2,505,830$587,721$17,285,819
94$28,222,955$2,482,927$461,721$18,846,377
95$30,951,418$2,454,313$326,911$20,562,747
96$33,953,451$2,419,562$182,851$22,450,842
97$37,256,808$2,378,226$29,081$24,528,205
98$40,892,071$2,329,828$0$26,814,172
99$44,892,936$2,273,863$0$29,350,229
100$49,296,530$2,209,796$0$32,145,653