Can I retire at age 62 with 914,000?

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 $914,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$75,477$74,805$74,149$73,509$72,884$71,296
2 years$37,365$36,669$35,995$35,341$34,706$33,115
3 years$24,663$23,964$23,291$22,643$22,019$20,473
4 years$18,313$17,616$16,950$16,313$15,704$14,216
5 years$14,504$13,811$13,154$12,530$11,938$10,512
6 years$11,965$11,278$10,630$10,020$9,446$8,083
7 years$10,153$9,471$8,834$8,238$7,682$6,383
8 years$8,794$8,118$7,492$6,911$6,373$5,137
9 years$7,738$7,069$6,453$5,887$5,367$4,193
10 years$6,893$6,231$5,626$5,074$4,573$3,460
11 years$6,203$5,547$4,953$4,416$3,933$2,880
12 years$5,628$4,978$4,395$3,874$3,408$2,413
13 years$5,141$4,499$3,927$3,420$2,972$2,033
14 years$4,725$4,090$3,528$3,036$2,605$1,721
15 years$4,365$3,736$3,186$2,707$2,294$1,462
16 years$4,049$3,428$2,888$2,424$2,027$1,246
17 years$3,772$3,157$2,628$2,178$1,798$1,064
18 years$3,525$2,917$2,399$1,963$1,598$911
19 years$3,305$2,703$2,196$1,774$1,425$782
20 years$3,106$2,512$2,016$1,606$1,273$672
21 years$2,927$2,340$1,854$1,458$1,139$578
22 years$2,765$2,184$1,709$1,326$1,021$498
23 years$2,617$2,043$1,578$1,207$916$429
24 years$2,481$1,914$1,459$1,101$824$370
25 years$2,356$1,796$1,351$1,006$741$320
26 years$2,242$1,688$1,253$919$668$276
27 years$2,135$1,589$1,164$842$602$239
28 years$2,037$1,497$1,082$771$543$206
29 years$1,946$1,412$1,007$707$490$179
30 years$1,861$1,334$938$649$443$155
31 years$1,781$1,261$874$596$401$134
32 years$1,707$1,193$816$548$362$116
33 years$1,637$1,130$762$504$328$100
34 years$1,571$1,071$712$463$297$87
35 years$1,510$1,016$665$427$269$75
36 years$1,452$964$622$393$244$65
37 years$1,397$916$583$362$221$57
38 years$1,345$870$546$334$200$49
39 years$1,296$827$511$308$182$42
40 years$1,250$787$479$284$165$37
41 years$1,206$749$449$262$149$32
42 years$1,164$714$421$242$136$28
43 years$1,124$680$395$223$123$24
44 years$1,086$648$371$206$112$21
45 years$1,050$618$349$190$101$18
46 years$1,015$590$327$176$92$16
47 years$983$563$308$162$84$14
48 years$951$537$289$150$76$12
49 years$921$513$272$139$69$10
50 years$892$490$255$128$63$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $914,000, adding $5,874 every year, while hoping to spend $50,655 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: 74/9/17 Blend
61$914,000$914,000$914,000$914,000
62$1,013,287$964,845$950,678$1,083,917
63$1,062,746$958,226$928,629$1,124,882
64$1,115,552$949,585$904,144$1,162,972
65$1,171,992$938,769$877,087$1,203,373
66$1,232,384$925,617$847,318$1,246,304
67$1,297,072$909,957$814,688$1,292,004
68$1,366,436$891,607$779,043$1,340,738
69$1,440,893$870,377$740,221$1,392,801
70$1,520,899$846,060$698,054$1,448,515
71$1,606,957$818,443$652,365$1,508,239
72$1,699,617$787,297$602,969$1,572,369
73$1,799,483$752,381$549,674$1,641,340
74$1,907,221$713,438$492,279$1,715,636
75$2,023,561$670,199$430,573$1,795,789
76$2,149,303$622,379$364,337$1,882,388
77$2,285,331$569,674$293,341$1,976,084
78$2,432,613$511,766$217,346$2,077,594
79$2,592,214$448,317$136,101$2,187,713
80$2,765,305$378,970$49,347$2,307,315
81$2,953,176$303,349$0$2,437,368
82$3,157,242$221,056$0$2,586,783
83$3,379,063$131,670$0$2,758,959
84$3,620,353$34,747$0$2,946,291
85$3,882,998$0$0$3,150,273
86$4,169,073$0$0$3,379,501
87$4,480,864$0$0$3,633,121
88$4,820,884$0$0$3,909,740
89$5,191,899$0$0$4,211,616
90$5,596,956$0$0$4,541,229
91$6,039,405$0$0$4,901,315
92$6,522,939$0$0$5,294,880
93$7,051,620$0$0$5,725,239
94$7,629,922$0$0$6,196,038
95$8,262,770$0$0$6,711,293
96$8,955,588$0$0$7,275,428
97$9,714,349$0$0$7,893,311
98$10,545,631$0$0$8,570,305
99$11,456,676$0$0$9,312,317
100$12,455,463$0$0$10,125,851