Can I retire at age 62 with 913,000?

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 $913,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$75,395$74,723$74,068$73,428$72,804$72,467
2 years$37,324$36,629$35,955$35,302$34,669$34,328
3 years$24,636$23,937$23,265$22,618$21,995$21,662
4 years$18,293$17,597$16,931$16,295$15,687$15,364
5 years$14,488$13,796$13,139$12,516$11,925$11,613
6 years$11,952$11,265$10,619$10,009$9,436$9,135
7 years$10,141$9,461$8,824$8,229$7,674$7,384
8 years$8,784$8,110$7,484$6,903$6,366$6,088
9 years$7,729$7,061$6,446$5,880$5,361$5,095
10 years$6,886$6,224$5,619$5,069$4,568$4,313
11 years$6,196$5,541$4,947$4,411$3,929$3,685
12 years$5,621$4,973$4,391$3,869$3,405$3,171
13 years$5,136$4,494$3,923$3,416$2,969$2,746
14 years$4,720$4,085$3,525$3,032$2,602$2,390
15 years$4,360$3,732$3,182$2,704$2,291$2,089
16 years$4,045$3,424$2,885$2,421$2,025$1,833
17 years$3,767$3,153$2,625$2,176$1,796$1,613
18 years$3,521$2,914$2,397$1,961$1,597$1,424
19 years$3,301$2,700$2,194$1,772$1,423$1,259
20 years$3,103$2,509$2,014$1,605$1,271$1,116
21 years$2,924$2,337$1,852$1,456$1,138$991
22 years$2,762$2,182$1,707$1,324$1,020$881
23 years$2,614$2,041$1,576$1,206$915$784
24 years$2,478$1,912$1,458$1,100$823$699
25 years$2,354$1,794$1,350$1,004$740$624
26 years$2,239$1,686$1,252$918$667$557
27 years$2,133$1,587$1,163$841$601$498
28 years$2,035$1,495$1,081$770$542$446
29 years$1,944$1,411$1,006$706$490$399
30 years$1,858$1,332$937$648$443$357
31 years$1,779$1,259$873$595$400$320
32 years$1,705$1,192$815$547$362$287
33 years$1,635$1,129$761$503$328$257
34 years$1,570$1,070$711$463$297$231
35 years$1,508$1,015$665$426$269$207
36 years$1,450$963$622$392$243$186
37 years$1,395$915$582$362$221$167
38 years$1,344$869$545$333$200$150
39 years$1,295$826$511$307$181$135
40 years$1,248$786$479$283$164$121
41 years$1,204$749$449$262$149$109
42 years$1,162$713$421$241$135$98
43 years$1,123$679$395$223$123$88
44 years$1,085$647$371$206$112$79
45 years$1,049$617$348$190$101$71
46 years$1,014$589$327$175$92$64
47 years$981$562$307$162$83$58
48 years$950$537$289$150$76$52
49 years$920$512$271$138$69$47
50 years$891$489$255$128$63$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $913,000, adding $2,810 every year, while hoping to spend $54,475 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: 35/37/28 Blend
61$913,000$913,000$913,000$913,000
62$1,009,025$960,636$946,484$1,035,743
63$1,053,984$949,746$920,230$1,045,106
64$1,101,704$936,496$891,271$1,050,105
65$1,152,407$920,715$859,459$1,054,449
66$1,206,340$902,217$824,638$1,058,118
67$1,263,771$880,809$786,647$1,061,092
68$1,324,992$856,286$745,316$1,063,357
69$1,390,326$828,428$700,469$1,064,901
70$1,460,124$797,007$651,920$1,065,717
71$1,534,774$761,777$599,476$1,065,803
72$1,614,698$722,481$542,936$1,065,164
73$1,700,361$678,846$482,088$1,063,812
74$1,792,271$630,583$416,711$1,061,769
75$1,890,989$577,388$346,577$1,059,064
76$1,997,126$518,936$271,444$1,055,740
77$2,111,357$454,889$191,062$1,051,852
78$2,234,422$384,884$105,168$1,047,469
79$2,367,131$308,542$13,490$1,042,678
80$2,510,378$225,460$0$1,037,585
81$2,665,143$135,214$0$1,057,517
82$2,832,504$37,355$0$1,083,364
83$3,013,643$0$0$1,111,365
84$3,209,864$0$0$1,169,753
85$3,422,598$0$0$1,249,653
86$3,653,419$0$0$1,336,461
87$3,904,057$0$0$1,430,844
88$4,176,417$0$0$1,533,532
89$4,472,593$0$0$1,645,332
90$4,794,890$0$0$1,767,130
91$5,145,843$0$0$1,899,901
92$5,528,243$0$0$2,044,720
93$5,945,159$0$0$2,202,767
94$6,399,971$0$0$2,375,345
95$6,896,399$0$0$2,563,884
96$7,438,537$0$0$2,769,960
97$8,030,892$0$0$2,995,311
98$8,678,427$0$0$3,241,845
99$9,386,604$0$0$3,511,668
100$10,161,439$0$0$3,807,097