Can I retire at age 62 with 1,780,000?

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 $1,780,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$146,991$145,681$144,404$143,157$141,940$137,341
2 years$72,768$71,412$70,099$68,826$67,590$63,001
3 years$48,030$46,669$45,359$44,097$42,882$38,445
4 years$35,663$34,307$33,010$31,770$30,584$26,334
5 years$28,246$26,897$25,617$24,402$23,249$19,197
6 years$23,302$21,963$20,702$19,515$18,396$14,546
7 years$19,772$18,445$17,204$16,044$14,961$11,312
8 years$17,126$15,810$14,590$13,459$12,412$8,961
9 years$15,069$13,766$12,566$11,464$10,453$7,196
10 years$13,424$12,134$10,956$9,882$8,906$5,839
11 years$12,079$10,802$9,645$8,600$7,660$4,776
12 years$10,960$9,695$8,560$7,544$6,638$3,932
13 years$10,013$8,762$7,648$6,660$5,788$3,253
14 years$9,202$7,964$6,871$5,912$5,074$2,703
15 years$8,500$7,275$6,204$5,272$4,467$2,253
16 years$7,886$6,675$5,625$4,721$3,948$1,883
17 years$7,345$6,148$5,118$4,242$3,501$1,577
18 years$6,865$5,681$4,672$3,823$3,113$1,324
19 years$6,436$5,265$4,277$3,454$2,774$1,113
20 years$6,050$4,892$3,926$3,128$2,478$937
21 years$5,701$4,557$3,611$2,839$2,218$789
22 years$5,384$4,254$3,328$2,581$1,988$666
23 years$5,096$3,978$3,073$2,351$1,784$562
24 years$4,832$3,728$2,842$2,144$1,604$474
25 years$4,589$3,498$2,632$1,958$1,443$401
26 years$4,366$3,288$2,441$1,790$1,300$339
27 years$4,159$3,094$2,267$1,639$1,172$287
28 years$3,967$2,916$2,107$1,502$1,058$242
29 years$3,789$2,750$1,961$1,377$955$205
30 years$3,623$2,598$1,827$1,264$863$174
31 years$3,468$2,456$1,703$1,161$780$147
32 years$3,324$2,323$1,589$1,067$706$124
33 years$3,188$2,200$1,483$981$639$105
34 years$3,060$2,085$1,386$902$578$89
35 years$2,940$1,978$1,296$831$524$76
36 years$2,827$1,877$1,212$765$475$64
37 years$2,720$1,783$1,135$705$430$54
38 years$2,619$1,695$1,063$650$390$46
39 years$2,524$1,611$995$599$354$39
40 years$2,434$1,533$933$553$321$33
41 years$2,348$1,459$875$510$291$28
42 years$2,266$1,390$821$471$264$24
43 years$2,189$1,324$770$434$240$20
44 years$2,115$1,262$723$401$217$17
45 years$2,045$1,204$679$370$197$14
46 years$1,978$1,148$638$342$179$12
47 years$1,914$1,096$599$316$163$10
48 years$1,852$1,046$563$292$148$9
49 years$1,794$999$529$270$134$7
50 years$1,738$954$497$250$122$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $1,780,000, adding $4,673 every year, while hoping to spend $26,588 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: 58/22/20 Blend
61$1,780,000$1,780,000$1,780,000$1,780,000
62$1,966,380$1,872,040$1,844,450$2,069,739
63$2,138,662$1,935,481$1,877,950$2,203,958
64$2,327,624$2,001,139$1,911,681$2,346,928
65$2,534,942$2,069,095$1,945,622$2,502,206
66$2,762,459$2,139,433$1,979,753$2,670,986
67$3,012,204$2,212,239$2,014,049$2,854,579
68$3,286,414$2,287,604$2,048,484$3,054,431
69$3,587,553$2,365,621$2,083,033$3,272,133
70$3,918,334$2,446,388$2,117,666$3,509,435
71$4,281,749$2,530,005$2,152,352$3,768,267
72$4,681,089$2,616,578$2,187,058$4,050,750
73$5,119,984$2,706,214$2,221,749$4,359,221
74$5,602,431$2,799,027$2,256,386$4,696,254
75$6,132,835$2,895,135$2,290,931$5,064,683
76$6,716,047$2,994,659$2,325,339$5,467,628
77$7,357,413$3,097,727$2,359,567$5,908,527
78$8,062,822$3,204,469$2,393,566$6,391,163
79$8,838,764$3,315,022$2,427,285$6,919,706
80$9,692,389$3,429,529$2,460,670$7,498,748
81$10,631,573$3,548,137$2,493,663$8,133,345
82$11,664,997$3,670,999$2,526,204$8,829,068
83$12,802,224$3,798,275$2,558,229$9,592,053
84$14,053,792$3,930,131$2,589,670$10,429,060
85$15,431,309$4,066,738$2,620,455$11,347,535
86$16,947,571$4,208,276$2,650,509$12,355,680
87$18,616,673$4,354,931$2,679,750$13,462,532
88$20,454,147$4,506,897$2,708,095$14,678,045
89$22,477,108$4,664,373$2,735,455$16,013,187
90$24,704,416$4,827,570$2,761,736$17,480,041
91$27,156,851$4,996,705$2,786,838$19,091,919
92$29,857,310$5,172,004$2,810,658$20,863,486
93$32,831,026$5,353,702$2,833,085$22,810,902
94$36,105,801$5,542,044$2,854,003$24,951,970
95$39,712,272$5,737,284$2,873,292$27,306,305
96$43,684,200$5,939,687$2,890,823$29,895,521
97$48,058,784$6,149,527$2,906,462$32,743,429
98$52,877,018$6,367,092$2,920,066$35,876,269
99$58,184,073$6,592,679$2,931,488$39,322,951
100$64,029,726$6,826,598$2,940,570$43,115,328