Can I retire at age 62 with 915,000?

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 $915,000?

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$75,560$74,887$74,230$73,589$72,963$71,374
2 years$37,406$36,709$36,034$35,379$34,744$33,151
3 years$24,690$23,990$23,316$22,668$22,043$20,495
4 years$18,333$17,635$16,968$16,331$15,721$14,231
5 years$14,519$13,826$13,168$12,544$11,951$10,523
6 years$11,978$11,290$10,642$10,031$9,457$8,092
7 years$10,164$9,481$8,843$8,247$7,691$6,390
8 years$8,803$8,127$7,500$6,918$6,380$5,143
9 years$7,746$7,076$6,460$5,893$5,373$4,198
10 years$6,901$6,237$5,632$5,080$4,578$3,464
11 years$6,209$5,553$4,958$4,421$3,937$2,883
12 years$5,634$4,984$4,400$3,878$3,412$2,416
13 years$5,147$4,504$3,931$3,424$2,975$2,036
14 years$4,730$4,094$3,532$3,039$2,608$1,723
15 years$4,369$3,740$3,189$2,710$2,296$1,464
16 years$4,054$3,431$2,891$2,427$2,030$1,247
17 years$3,776$3,160$2,631$2,180$1,800$1,066
18 years$3,529$2,920$2,402$1,965$1,600$912
19 years$3,308$2,706$2,199$1,776$1,426$783
20 years$3,110$2,515$2,018$1,608$1,274$672
21 years$2,931$2,342$1,856$1,459$1,140$578
22 years$2,768$2,187$1,711$1,327$1,022$498
23 years$2,620$2,045$1,580$1,208$917$429
24 years$2,484$1,916$1,461$1,102$824$371
25 years$2,359$1,798$1,353$1,007$742$320
26 years$2,244$1,690$1,255$920$668$276
27 years$2,138$1,590$1,165$842$603$239
28 years$2,039$1,499$1,083$772$544$207
29 years$1,948$1,414$1,008$708$491$179
30 years$1,863$1,335$939$650$444$155
31 years$1,783$1,262$875$597$401$134
32 years$1,708$1,194$817$548$363$116
33 years$1,639$1,131$763$504$328$100
34 years$1,573$1,072$712$464$297$87
35 years$1,511$1,017$666$427$269$75
36 years$1,453$965$623$393$244$65
37 years$1,398$917$583$362$221$57
38 years$1,347$871$546$334$200$49
39 years$1,297$828$512$308$182$43
40 years$1,251$788$480$284$165$37
41 years$1,207$750$450$262$150$32
42 years$1,165$714$422$242$136$28
43 years$1,125$681$396$223$123$24
44 years$1,087$649$372$206$112$21
45 years$1,051$619$349$190$101$18
46 years$1,017$590$328$176$92$16
47 years$984$563$308$162$84$14
48 years$952$538$289$150$76$12
49 years$922$514$272$139$69$10
50 years$893$491$256$128$63$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $915,000, adding $6,762 every year, while hoping to spend $49,400 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: 42/50/8 Blend
61$915,000$915,000$915,000$915,000
62$1,015,305$966,810$952,628$1,055,290
63$1,066,305$961,622$931,979$1,078,636
64$1,120,851$954,525$908,984$1,098,374
65$1,179,253$945,372$883,510$1,118,618
66$1,241,851$934,009$855,421$1,139,431
67$1,309,016$920,272$824,574$1,160,890
68$1,381,158$903,987$790,820$1,183,079
69$1,458,725$884,972$754,001$1,206,098
70$1,542,209$863,030$713,954$1,230,057
71$1,632,152$837,955$670,509$1,255,087
72$1,729,146$809,531$623,487$1,281,332
73$1,833,846$777,524$572,700$1,308,958
74$1,946,967$741,692$517,955$1,338,153
75$2,069,298$701,775$459,046$1,369,128
76$2,201,704$657,500$395,762$1,402,125
77$2,345,138$608,577$327,880$1,437,413
78$2,500,647$554,702$255,168$1,475,298
79$2,669,380$495,550$177,384$1,516,123
80$2,852,605$430,780$94,275$1,560,274
81$3,051,714$360,031$5,576$1,608,185
82$3,268,239$282,923$0$1,660,341
83$3,503,864$199,051$0$1,724,893
84$3,760,444$107,991$0$1,795,849
85$4,040,021$9,293$0$1,873,441
86$4,344,838$0$0$1,958,459
87$4,677,367$0$0$2,105,439
88$5,040,330$0$0$2,271,561
89$5,436,719$0$0$2,453,094
90$5,869,832$0$0$2,651,565
91$6,343,298$0$0$2,868,649
92$6,861,111$0$0$3,106,194
93$7,427,671$0$0$3,366,234
94$8,047,822$0$0$3,651,010
95$8,726,899$0$0$3,962,988
96$9,470,774$0$0$4,304,884
97$10,285,917$0$0$4,679,690
98$11,179,453$0$0$5,090,701
99$12,159,226$0$0$5,541,546
100$13,233,880$0$0$6,036,222