Can I retire at age 62 with 916,000?

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 $916,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$75,642$74,969$74,311$73,670$73,043$72,522
2 years$37,447$36,749$36,073$35,418$34,782$34,257
3 years$24,717$24,016$23,342$22,693$22,067$21,554
4 years$18,353$17,654$16,987$16,349$15,739$15,241
5 years$14,535$13,841$13,183$12,557$11,964$11,484
6 years$11,991$11,302$10,653$10,042$9,467$9,005
7 years$10,175$9,492$8,853$8,256$7,699$7,255
8 years$8,813$8,136$7,508$6,926$6,387$5,961
9 years$7,755$7,084$6,467$5,899$5,379$4,971
10 years$6,908$6,244$5,638$5,085$4,583$4,193
11 years$6,216$5,559$4,963$4,426$3,942$3,569
12 years$5,640$4,989$4,405$3,882$3,416$3,060
13 years$5,153$4,509$3,936$3,427$2,979$2,640
14 years$4,735$4,098$3,536$3,042$2,611$2,289
15 years$4,374$3,744$3,193$2,713$2,299$1,993
16 years$4,058$3,435$2,895$2,429$2,032$1,741
17 years$3,780$3,164$2,634$2,183$1,802$1,526
18 years$3,533$2,923$2,404$1,967$1,602$1,341
19 years$3,312$2,709$2,201$1,777$1,428$1,181
20 years$3,113$2,518$2,020$1,610$1,275$1,042
21 years$2,934$2,345$1,858$1,461$1,141$921
22 years$2,771$2,189$1,713$1,328$1,023$815
23 years$2,622$2,047$1,581$1,210$918$723
24 years$2,486$1,918$1,462$1,103$825$641
25 years$2,362$1,800$1,354$1,008$743$570
26 years$2,247$1,692$1,256$921$669$506
27 years$2,140$1,592$1,166$843$603$450
28 years$2,042$1,500$1,084$773$544$401
29 years$1,950$1,415$1,009$709$491$357
30 years$1,865$1,337$940$650$444$318
31 years$1,785$1,264$876$597$401$284
32 years$1,710$1,196$818$549$363$253
33 years$1,640$1,132$763$505$329$226
34 years$1,575$1,073$713$464$298$202
35 years$1,513$1,018$667$428$270$180
36 years$1,455$966$624$394$244$161
37 years$1,400$918$584$363$221$144
38 years$1,348$872$547$334$201$129
39 years$1,299$829$512$308$182$115
40 years$1,252$789$480$284$165$103
41 years$1,208$751$450$262$150$92
42 years$1,166$715$422$242$136$82
43 years$1,126$681$396$224$123$73
44 years$1,088$650$372$206$112$66
45 years$1,052$619$349$191$102$59
46 years$1,018$591$328$176$92$53
47 years$985$564$308$163$84$47
48 years$953$538$290$150$76$42
49 years$923$514$272$139$69$38
50 years$894$491$256$128$63$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $916,000, adding $4,252 every year, while hoping to spend $41,512 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: 75/19/6 Blend
61$916,000$916,000$916,000$916,000
62$1,013,818$965,270$951,072$1,088,899
63$1,073,059$968,400$938,764$1,141,987
64$1,136,951$970,292$924,653$1,194,418
65$1,205,925$970,841$908,634$1,250,667
66$1,280,454$969,937$890,598$1,311,097
67$1,361,059$967,462$870,431$1,376,106
68$1,448,309$963,290$848,013$1,446,136
69$1,542,835$957,289$823,220$1,521,670
70$1,645,326$949,319$795,920$1,603,245
71$1,756,543$939,229$765,977$1,691,450
72$1,877,321$926,861$733,247$1,786,935
73$2,008,579$912,049$697,582$1,890,417
74$2,151,328$894,613$658,825$2,002,688
75$2,306,680$874,366$616,813$2,124,618
76$2,475,860$851,109$571,375$2,257,169
77$2,660,214$824,629$522,332$2,401,401
78$2,861,224$794,704$469,498$2,558,484
79$3,080,522$761,098$412,679$2,729,707
80$3,319,903$723,559$351,672$2,916,491
81$3,581,344$681,824$286,263$3,120,405
82$3,867,020$635,612$216,232$3,343,177
83$4,179,327$584,628$141,347$3,586,713
84$4,520,902$528,559$61,366$3,853,118
85$4,894,649$467,074$0$4,144,708
86$5,303,766$399,823$0$4,465,578
87$5,751,774$326,438$0$4,821,303
88$6,242,549$246,528$0$5,211,078
89$6,780,363$159,681$0$5,638,349
90$7,369,917$65,463$0$6,106,918
91$8,016,392$0$0$6,620,973
92$8,725,491$0$0$7,192,781
93$9,503,499$0$0$7,835,211
94$10,357,335$0$0$8,540,295
95$11,294,624$0$0$9,314,333
96$12,323,763$0$0$10,164,265
97$13,454,003$0$0$11,097,736
98$14,695,533$0$0$12,123,168
99$16,059,580$0$0$13,249,838
100$17,558,510$0$0$14,487,966