Can I retire at age 62 with 912,000?

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 $912,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$75,312$74,641$73,987$73,348$72,724$72,296
2 years$37,283$36,589$35,916$35,263$34,631$34,199
3 years$24,609$23,911$23,240$22,594$21,971$21,549
4 years$18,273$17,577$16,913$16,277$15,670$15,261
5 years$14,472$13,781$13,125$12,503$11,912$11,517
6 years$11,939$11,253$10,607$9,998$9,426$9,045
7 years$10,130$9,450$8,814$8,220$7,666$7,299
8 years$8,775$8,101$7,475$6,896$6,359$6,008
9 years$7,721$7,053$6,438$5,874$5,355$5,019
10 years$6,878$6,217$5,613$5,063$4,563$4,241
11 years$6,189$5,535$4,942$4,406$3,924$3,616
12 years$5,615$4,968$4,386$3,865$3,401$3,107
13 years$5,130$4,489$3,918$3,412$2,966$2,685
14 years$4,715$4,081$3,521$3,029$2,600$2,333
15 years$4,355$3,728$3,179$2,701$2,289$2,035
16 years$4,041$3,420$2,882$2,419$2,023$1,782
17 years$3,763$3,150$2,622$2,173$1,794$1,565
18 years$3,517$2,911$2,394$1,959$1,595$1,378
19 years$3,297$2,697$2,192$1,770$1,422$1,216
20 years$3,100$2,507$2,011$1,603$1,270$1,075
21 years$2,921$2,335$1,850$1,455$1,136$953
22 years$2,759$2,179$1,705$1,323$1,019$845
23 years$2,611$2,038$1,574$1,205$914$751
24 years$2,476$1,910$1,456$1,099$822$668
25 years$2,351$1,792$1,349$1,003$739$594
26 years$2,237$1,684$1,251$917$666$530
27 years$2,131$1,585$1,161$840$601$472
28 years$2,033$1,494$1,080$769$542$422
29 years$1,941$1,409$1,005$705$489$376
30 years$1,856$1,331$936$647$442$336
31 years$1,777$1,258$872$595$400$301
32 years$1,703$1,190$814$547$362$269
33 years$1,633$1,127$760$503$327$241
34 years$1,568$1,068$710$462$296$215
35 years$1,506$1,013$664$426$268$193
36 years$1,448$962$621$392$243$173
37 years$1,394$914$581$361$220$155
38 years$1,342$868$544$333$200$139
39 years$1,293$826$510$307$181$124
40 years$1,247$785$478$283$164$111
41 years$1,203$748$448$261$149$100
42 years$1,161$712$420$241$135$89
43 years$1,121$678$395$223$123$80
44 years$1,084$647$370$205$111$72
45 years$1,048$617$348$190$101$65
46 years$1,013$588$327$175$92$58
47 years$980$561$307$162$83$52
48 years$949$536$288$150$76$47
49 years$919$512$271$138$69$42
50 years$890$489$255$128$62$37

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $912,000, adding $4,434 every year, while hoping to spend $51,567 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: 70/7/23 Blend
61$912,000$912,000$912,000$912,000
62$1,009,598$961,262$947,126$1,074,148
63$1,057,710$953,497$923,987$1,110,097
64$1,109,001$943,623$898,346$1,142,986
65$1,163,741$931,482$870,063$1,177,745
66$1,222,226$916,908$838,993$1,214,556
67$1,284,779$899,723$804,985$1,253,621
68$1,351,756$879,739$767,882$1,295,162
69$1,423,547$856,758$727,518$1,339,425
70$1,500,579$830,569$683,719$1,386,685
71$1,583,320$800,949$636,306$1,437,244
72$1,672,286$767,663$585,090$1,491,436
73$1,768,042$730,461$529,873$1,549,634
74$1,871,208$689,079$470,450$1,612,247
75$1,982,466$643,239$406,604$1,679,729
76$2,102,565$592,645$338,113$1,752,585
77$2,232,327$536,985$264,741$1,831,369
78$2,372,657$475,930$186,242$1,916,697
79$2,524,549$409,132$102,362$2,009,250
80$2,689,095$336,221$12,833$2,109,779
81$2,867,496$256,810$0$2,219,118
82$3,061,074$170,486$0$2,358,484
83$3,271,281$76,818$0$2,513,276
84$3,499,716$0$0$2,681,541
85$3,748,136$0$0$2,866,498
86$4,018,476$0$0$3,074,256
87$4,312,863$0$0$3,300,540
88$4,633,640$0$0$3,547,155
89$4,983,383$0$0$3,816,089
90$5,364,929$0$0$4,109,529
91$5,781,399$0$0$4,429,881
92$6,236,231$0$0$4,779,797
93$6,733,207$0$0$5,162,193
94$7,276,493$0$0$5,580,282
95$7,870,673$0$0$6,037,600
96$8,520,797$0$0$6,538,039
97$9,232,425$0$0$7,085,889
98$10,011,677$0$0$7,685,870
99$10,865,295$0$0$8,343,182
100$11,800,705$0$0$9,063,550