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%12.5%
1 years$75,312$74,641$73,987$73,348$72,724$71,965
2 years$37,283$36,589$35,916$35,263$34,631$33,866
3 years$24,609$23,911$23,240$22,594$21,971$21,225
4 years$18,273$17,577$16,913$16,277$15,670$14,948
5 years$14,472$13,781$13,125$12,503$11,912$11,216
6 years$11,939$11,253$10,607$9,998$9,426$8,757
7 years$10,130$9,450$8,814$8,220$7,666$7,024
8 years$8,775$8,101$7,475$6,896$6,359$5,745
9 years$7,721$7,053$6,438$5,874$5,355$4,768
10 years$6,878$6,217$5,613$5,063$4,563$4,003
11 years$6,189$5,535$4,942$4,406$3,924$3,390
12 years$5,615$4,968$4,386$3,865$3,401$2,893
13 years$5,130$4,489$3,918$3,412$2,966$2,482
14 years$4,715$4,081$3,521$3,029$2,600$2,141
15 years$4,355$3,728$3,179$2,701$2,289$1,854
16 years$4,041$3,420$2,882$2,419$2,023$1,611
17 years$3,763$3,150$2,622$2,173$1,794$1,404
18 years$3,517$2,911$2,394$1,959$1,595$1,227
19 years$3,297$2,697$2,192$1,770$1,422$1,074
20 years$3,100$2,507$2,011$1,603$1,270$942
21 years$2,921$2,335$1,850$1,455$1,136$828
22 years$2,759$2,179$1,705$1,323$1,019$729
23 years$2,611$2,038$1,574$1,205$914$642
24 years$2,476$1,910$1,456$1,099$822$566
25 years$2,351$1,792$1,349$1,003$739$500
26 years$2,237$1,684$1,251$917$666$441
27 years$2,131$1,585$1,161$840$601$390
28 years$2,033$1,494$1,080$769$542$345
29 years$1,941$1,409$1,005$705$489$306
30 years$1,856$1,331$936$647$442$271
31 years$1,777$1,258$872$595$400$240
32 years$1,703$1,190$814$547$362$212
33 years$1,633$1,127$760$503$327$188
34 years$1,568$1,068$710$462$296$167
35 years$1,506$1,013$664$426$268$148
36 years$1,448$962$621$392$243$131
37 years$1,394$914$581$361$220$117
38 years$1,342$868$544$333$200$104
39 years$1,293$826$510$307$181$92
40 years$1,247$785$478$283$164$82
41 years$1,203$748$448$261$149$72
42 years$1,161$712$420$241$135$64
43 years$1,121$678$395$223$123$57
44 years$1,084$647$370$205$111$51
45 years$1,048$617$348$190$101$45
46 years$1,013$588$327$175$92$40
47 years$980$561$307$162$83$36
48 years$949$536$288$150$76$32
49 years$919$512$271$138$69$28
50 years$890$489$255$128$62$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $912,000, adding $6,927 every year, while hoping to spend $54,051 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: 85/10/5 Blend
61$912,000$912,000$912,000$912,000
62$1,012,169$963,833$949,697$1,097,614
63$1,057,901$953,551$924,002$1,144,075
64$1,106,485$940,954$895,635$1,186,966
65$1,158,157$925,870$864,449$1,232,347
66$1,213,171$908,121$830,290$1,280,432
67$1,271,809$887,513$792,999$1,331,454
68$1,334,377$863,844$752,408$1,385,673
69$1,401,211$836,901$708,342$1,443,370
70$1,472,681$806,455$660,617$1,504,859
71$1,549,189$772,266$609,043$1,570,483
72$1,631,180$734,081$553,419$1,640,621
73$1,719,139$691,629$493,538$1,715,688
74$1,813,599$644,628$429,179$1,796,143
75$1,915,147$592,775$360,117$1,882,492
76$2,024,424$535,752$286,113$1,975,291
77$2,142,136$473,225$206,918$2,075,153
78$2,269,058$404,837$122,274$2,182,754
79$2,406,041$330,214$31,910$2,298,838
80$2,554,021$248,958$0$2,424,225
81$2,714,026$160,652$0$2,563,262
82$2,887,186$64,853$0$2,715,543
83$3,074,742$0$0$2,880,478
84$3,278,061$0$0$3,063,577
85$3,498,643$0$0$3,269,977
86$3,738,141$0$0$3,494,087
87$3,998,370$0$0$3,737,610
88$4,281,329$0$0$4,002,417
89$4,589,217$0$0$4,290,566
90$4,924,452$0$0$4,604,324
91$5,289,696$0$0$4,946,183
92$5,687,877$0$0$5,318,886
93$6,122,220$0$0$5,725,453
94$6,596,272$0$0$6,169,207
95$7,113,940$0$0$6,653,806
96$7,679,522$0$0$7,183,278
97$8,297,753$0$0$7,762,056
98$8,973,843$0$0$8,395,020
99$9,713,531$0$0$9,087,546
100$10,523,134$0$0$9,845,551