Can I retire at age 62 with 910,000?

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 $910,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%20%
1 years$75,147$74,478$73,825$73,187$72,565$69,658
2 years$37,201$36,509$35,837$35,186$34,555$31,663
3 years$24,555$23,859$23,189$22,544$21,923$19,137
4 years$18,232$17,539$16,876$16,242$15,636$12,977
5 years$14,440$13,751$13,096$12,475$11,886$9,361
6 years$11,913$11,228$10,584$9,977$9,405$7,015
7 years$10,108$9,430$8,795$8,202$7,649$5,393
8 years$8,755$8,083$7,459$6,881$6,345$4,222
9 years$7,704$7,038$6,424$5,861$5,344$3,349
10 years$6,863$6,203$5,601$5,052$4,553$2,683
11 years$6,175$5,522$4,931$4,397$3,916$2,167
12 years$5,603$4,957$4,376$3,857$3,393$1,760
13 years$5,119$4,479$3,910$3,405$2,959$1,436
14 years$4,704$4,072$3,513$3,022$2,594$1,177
15 years$4,345$3,719$3,172$2,695$2,284$967
16 years$4,032$3,413$2,876$2,413$2,019$797
17 years$3,755$3,143$2,617$2,168$1,790$658
18 years$3,510$2,904$2,389$1,954$1,591$544
19 years$3,290$2,692$2,187$1,766$1,418$450
20 years$3,093$2,501$2,007$1,599$1,267$373
21 years$2,915$2,330$1,846$1,451$1,134$310
22 years$2,753$2,175$1,701$1,320$1,016$257
23 years$2,605$2,034$1,571$1,202$912$214
24 years$2,470$1,906$1,453$1,096$820$177
25 years$2,346$1,788$1,346$1,001$738$148
26 years$2,232$1,681$1,248$915$665$123
27 years$2,126$1,582$1,159$838$599$102
28 years$2,028$1,491$1,077$768$541$85
29 years$1,937$1,406$1,003$704$488$71
30 years$1,852$1,328$934$646$441$59
31 years$1,773$1,255$871$593$399$49
32 years$1,699$1,188$812$545$361$41
33 years$1,630$1,125$758$501$326$34
34 years$1,564$1,066$709$461$296$28
35 years$1,503$1,011$662$425$268$24
36 years$1,445$960$620$391$243$20
37 years$1,391$912$580$360$220$16
38 years$1,339$866$543$332$199$14
39 years$1,290$824$509$306$181$11
40 years$1,244$784$477$283$164$9
41 years$1,200$746$447$261$149$8
42 years$1,159$711$420$241$135$7
43 years$1,119$677$394$222$122$5
44 years$1,081$645$370$205$111$5
45 years$1,045$615$347$189$101$4
46 years$1,011$587$326$175$92$3
47 years$978$560$306$162$83$3
48 years$947$535$288$149$76$2
49 years$917$511$270$138$69$2
50 years$888$488$254$128$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $910,000, adding $5,708 every year, while hoping to spend $44,626 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: 46/49/5 Blend
61$910,000$910,000$910,000$910,000
62$1,008,708$960,478$946,373$1,053,506
63$1,064,114$960,059$930,595$1,084,437
64$1,123,677$958,125$912,792$1,112,824
65$1,187,771$954,553$892,850$1,142,561
66$1,256,812$949,214$870,649$1,173,783
67$1,331,254$941,973$846,063$1,206,646
68$1,411,596$932,683$818,960$1,241,320
69$1,498,386$921,192$789,202$1,277,998
70$1,592,227$907,336$756,646$1,316,894
71$1,693,781$890,943$721,141$1,358,248
72$1,803,777$871,829$682,529$1,402,327
73$1,923,016$849,802$640,647$1,449,428
74$2,052,377$824,656$595,323$1,499,884
75$2,192,829$796,174$546,376$1,554,066
76$2,345,437$764,126$493,619$1,612,385
77$2,511,373$728,270$436,857$1,675,300
78$2,691,926$688,347$375,884$1,743,322
79$2,888,513$644,087$310,487$1,817,019
80$3,102,696$595,202$240,442$1,897,024
81$3,336,191$541,387$165,517$1,984,038
82$3,590,889$482,321$85,469$2,078,842
83$3,868,870$417,665$42$2,182,304
84$4,172,423$347,059$0$2,295,385
85$4,504,071$270,126$0$2,424,017
86$4,866,587$186,463$0$2,564,842
87$5,263,028$95,648$0$2,719,190
88$5,696,757$0$0$2,888,537
89$6,171,479$0$0$3,076,008
90$6,691,272$0$0$3,337,850
91$7,260,629$0$0$3,624,765
92$7,884,496$0$0$3,939,258
93$8,568,321$0$0$4,284,090
94$9,318,104$0$0$4,662,300
95$10,140,453$0$0$5,077,236
96$11,042,646$0$0$5,532,586
97$12,032,701$0$0$6,032,412
98$13,119,448$0$0$6,581,189
99$14,312,615$0$0$7,183,846
100$15,622,917$0$0$7,845,812