Can I retire at age 62 with 917,000?

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 $917,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$75,725$75,050$74,392$73,750$73,123$71,096
2 years$37,488$36,789$36,113$35,457$34,820$32,793
3 years$24,743$24,042$23,367$22,717$22,092$20,128
4 years$18,373$17,674$17,005$16,367$15,756$13,871
5 years$14,551$13,856$13,197$12,571$11,977$10,176
6 years$12,004$11,315$10,665$10,053$9,477$7,761
7 years$10,186$9,502$8,863$8,265$7,708$6,077
8 years$8,823$8,145$7,516$6,934$6,394$4,848
9 years$7,763$7,092$6,474$5,906$5,385$3,922
10 years$6,916$6,251$5,644$5,091$4,588$3,206
11 years$6,223$5,565$4,969$4,431$3,946$2,643
12 years$5,646$4,995$4,410$3,886$3,419$2,193
13 years$5,158$4,514$3,940$3,431$2,982$1,829
14 years$4,741$4,103$3,540$3,046$2,614$1,532
15 years$4,379$3,748$3,196$2,716$2,301$1,288
16 years$4,063$3,439$2,898$2,432$2,034$1,086
17 years$3,784$3,167$2,637$2,185$1,804$918
18 years$3,537$2,926$2,407$1,969$1,604$777
19 years$3,315$2,712$2,204$1,779$1,429$659
20 years$3,117$2,520$2,022$1,612$1,277$560
21 years$2,937$2,348$1,860$1,463$1,143$476
22 years$2,774$2,191$1,714$1,330$1,024$405
23 years$2,625$2,050$1,583$1,211$919$345
24 years$2,489$1,920$1,464$1,105$826$295
25 years$2,364$1,802$1,356$1,009$744$251
26 years$2,249$1,694$1,258$922$670$214
27 years$2,142$1,594$1,168$844$604$183
28 years$2,044$1,502$1,086$774$545$156
29 years$1,952$1,417$1,010$709$492$134
30 years$1,867$1,338$941$651$445$114
31 years$1,787$1,265$877$598$402$98
32 years$1,712$1,197$818$549$364$84
33 years$1,642$1,134$764$505$329$71
34 years$1,576$1,074$714$465$298$61
35 years$1,515$1,019$668$428$270$52
36 years$1,456$967$625$394$244$45
37 years$1,401$919$585$363$222$38
38 years$1,349$873$547$335$201$33
39 years$1,300$830$513$309$182$28
40 years$1,254$790$481$285$165$24
41 years$1,209$752$451$263$150$21
42 years$1,167$716$423$242$136$18
43 years$1,128$682$397$224$123$15
44 years$1,090$650$372$207$112$13
45 years$1,053$620$350$191$102$11
46 years$1,019$592$328$176$92$9
47 years$986$565$309$163$84$8
48 years$954$539$290$150$76$7
49 years$924$515$273$139$69$6
50 years$895$492$256$129$63$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $917,000, adding $3,745 every year, while hoping to spend $21,054 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: 57/17/26 Blend
61$917,000$917,000$917,000$917,000
62$1,014,397$965,796$951,582$1,064,823
63$1,095,464$990,719$961,059$1,124,710
64$1,184,095$1,016,157$970,148$1,187,414
65$1,281,037$1,042,114$978,813$1,255,320
66$1,387,118$1,068,592$987,018$1,328,936
67$1,503,244$1,095,593$994,723$1,408,823
68$1,630,416$1,123,118$1,001,887$1,495,598
69$1,769,735$1,151,168$1,008,467$1,589,943
70$1,922,415$1,179,742$1,014,418$1,692,606
71$2,089,792$1,208,840$1,019,691$1,804,414
72$2,273,337$1,238,459$1,024,237$1,926,277
73$2,474,670$1,268,597$1,028,002$2,059,199
74$2,695,578$1,299,249$1,030,931$2,204,286
75$2,938,025$1,330,411$1,032,966$2,362,755
76$3,204,178$1,362,076$1,034,045$2,535,950
77$3,496,423$1,394,236$1,034,104$2,725,351
78$3,817,388$1,426,883$1,033,076$2,932,589
79$4,169,967$1,460,006$1,030,890$3,159,462
80$4,557,350$1,493,593$1,027,471$3,407,951
81$4,983,051$1,527,630$1,022,743$3,680,240
82$5,450,940$1,562,102$1,016,622$3,978,736
83$5,965,282$1,596,991$1,009,025$4,306,090
84$6,530,774$1,632,277$999,861$4,665,228
85$7,152,594$1,667,939$989,037$5,059,370
86$7,836,443$1,703,952$976,454$5,492,069
87$8,588,604$1,740,290$962,010$5,967,238
88$9,416,000$1,776,923$945,596$6,489,193
89$10,326,259$1,813,819$927,100$7,062,688
90$11,327,784$1,850,942$906,404$7,692,963
91$12,429,834$1,888,254$883,384$8,385,796
92$13,642,611$1,925,713$857,912$9,147,552
93$14,977,357$1,963,273$829,852$9,985,247
94$16,446,458$2,000,884$799,062$10,906,617
95$18,063,562$2,038,492$765,396$11,920,183
96$19,843,707$2,076,040$728,698$13,035,341
97$21,803,462$2,113,463$688,807$14,262,444
98$23,961,087$2,150,695$645,554$15,612,904
99$26,336,701$2,187,662$598,763$17,099,298
100$28,952,472$2,224,285$548,249$18,735,488