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%17.6%
1 years$75,477$74,805$74,149$73,509$72,884$70,635
2 years$37,365$36,669$35,995$35,341$34,706$32,461
3 years$24,663$23,964$23,291$22,643$22,019$19,847
4 years$18,313$17,616$16,950$16,313$15,704$13,622
5 years$14,504$13,811$13,154$12,530$11,938$9,951
6 years$11,965$11,278$10,630$10,020$9,446$7,557
7 years$10,153$9,471$8,834$8,238$7,682$5,890
8 years$8,794$8,118$7,492$6,911$6,373$4,677
9 years$7,738$7,069$6,453$5,887$5,367$3,765
10 years$6,893$6,231$5,626$5,074$4,573$3,063
11 years$6,203$5,547$4,953$4,416$3,933$2,512
12 years$5,628$4,978$4,395$3,874$3,408$2,073
13 years$5,141$4,499$3,927$3,420$2,972$1,720
14 years$4,725$4,090$3,528$3,036$2,605$1,433
15 years$4,365$3,736$3,186$2,707$2,294$1,198
16 years$4,049$3,428$2,888$2,424$2,027$1,004
17 years$3,772$3,157$2,628$2,178$1,798$844
18 years$3,525$2,917$2,399$1,963$1,598$710
19 years$3,305$2,703$2,196$1,774$1,425$599
20 years$3,106$2,512$2,016$1,606$1,273$505
21 years$2,927$2,340$1,854$1,458$1,139$427
22 years$2,765$2,184$1,709$1,326$1,021$361
23 years$2,617$2,043$1,578$1,207$916$306
24 years$2,481$1,914$1,459$1,101$824$259
25 years$2,356$1,796$1,351$1,006$741$220
26 years$2,242$1,688$1,253$919$668$186
27 years$2,135$1,589$1,164$842$602$158
28 years$2,037$1,497$1,082$771$543$134
29 years$1,946$1,412$1,007$707$490$114
30 years$1,861$1,334$938$649$443$97
31 years$1,781$1,261$874$596$401$82
32 years$1,707$1,193$816$548$362$70
33 years$1,637$1,130$762$504$328$59
34 years$1,571$1,071$712$463$297$50
35 years$1,510$1,016$665$427$269$43
36 years$1,452$964$622$393$244$36
37 years$1,397$916$583$362$221$31
38 years$1,345$870$546$334$200$26
39 years$1,296$827$511$308$182$22
40 years$1,250$787$479$284$165$19
41 years$1,206$749$449$262$149$16
42 years$1,164$714$421$242$136$14
43 years$1,124$680$395$223$123$12
44 years$1,086$648$371$206$112$10
45 years$1,050$618$349$190$101$8
46 years$1,015$590$327$176$92$7
47 years$983$563$308$162$84$6
48 years$951$537$289$150$76$5
49 years$921$513$272$139$69$4
50 years$892$490$255$128$63$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $914,000, adding $2,795 every year, while hoping to spend $46,962 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: 60/22/18 Blend
61$914,000$914,000$914,000$914,000
62$1,010,111$961,669$947,502$1,065,858
63$1,063,175$958,824$929,276$1,101,020
64$1,120,078$954,265$908,866$1,133,918
65$1,181,161$947,859$886,148$1,168,728
66$1,246,800$939,465$860,995$1,205,643
67$1,317,407$928,932$833,271$1,244,874
68$1,393,434$916,101$802,837$1,286,660
69$1,475,377$900,803$769,545$1,331,260
70$1,563,783$882,860$733,242$1,378,968
71$1,659,251$862,082$693,768$1,430,105
72$1,762,439$838,268$650,954$1,485,030
73$1,874,072$811,207$604,625$1,544,140
74$1,994,945$780,674$554,597$1,607,876
75$2,125,933$746,431$500,680$1,676,725
76$2,267,998$708,226$442,673$1,751,229
77$2,422,198$665,793$380,367$1,831,986
78$2,589,697$618,852$313,544$1,919,662
79$2,771,775$567,104$241,976$2,014,991
80$2,969,839$510,236$165,425$2,118,788
81$3,185,439$447,914$83,643$2,231,954
82$3,420,279$379,787$0$2,355,488
83$3,676,236$305,485$0$2,491,191
84$3,955,374$224,616$0$2,656,778
85$4,259,965$136,765$0$2,837,573
86$4,592,511$41,495$0$3,035,129
87$4,955,763$0$0$3,251,160
88$5,352,755$0$0$3,502,483
89$5,786,821$0$0$3,788,330
90$6,261,638$0$0$4,101,084
91$6,781,249$0$0$4,443,419
92$7,350,110$0$0$4,818,279
93$7,973,125$0$0$5,228,906
94$8,655,697$0$0$5,678,870
95$9,403,775$0$0$6,172,105
96$10,223,911$0$0$6,712,940
97$11,123,320$0$0$7,306,145
98$12,109,951$0$0$7,956,975
99$13,192,558$0$0$8,671,216
100$14,380,783$0$0$9,455,242