Can I retire at age 62 with 918,000?

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 $918,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$75,808$75,132$74,474$73,830$73,203$72,138
2 years$37,529$36,830$36,152$35,495$34,858$33,789
3 years$24,770$24,069$23,393$22,742$22,116$21,073
4 years$18,393$17,693$17,024$16,385$15,773$14,766
5 years$14,567$13,871$13,211$12,585$11,990$11,022
6 years$12,017$11,327$10,677$10,064$9,488$8,559
7 years$10,197$9,512$8,872$8,274$7,716$6,827
8 years$8,832$8,154$7,525$6,941$6,401$5,552
9 years$7,771$7,099$6,481$5,912$5,391$4,581
10 years$6,923$6,258$5,650$5,096$4,593$3,822
11 years$6,230$5,571$4,974$4,435$3,950$3,218
12 years$5,652$5,000$4,415$3,890$3,423$2,728
13 years$5,164$4,519$3,944$3,435$2,985$2,326
14 years$4,746$4,107$3,544$3,049$2,617$1,993
15 years$4,384$3,752$3,200$2,719$2,304$1,714
16 years$4,067$3,443$2,901$2,435$2,036$1,479
17 years$3,788$3,170$2,640$2,188$1,805$1,280
18 years$3,540$2,930$2,410$1,971$1,605$1,110
19 years$3,319$2,715$2,206$1,781$1,431$965
20 years$3,120$2,523$2,025$1,613$1,278$840
21 years$2,940$2,350$1,862$1,464$1,144$733
22 years$2,777$2,194$1,716$1,331$1,025$640
23 years$2,628$2,052$1,585$1,212$920$560
24 years$2,492$1,922$1,466$1,106$827$490
25 years$2,367$1,804$1,357$1,010$744$429
26 years$2,251$1,696$1,259$923$670$376
27 years$2,145$1,596$1,169$845$604$330
28 years$2,046$1,504$1,087$774$545$289
29 years$1,954$1,418$1,011$710$493$254
30 years$1,869$1,340$942$652$445$223
31 years$1,789$1,266$878$599$402$196
32 years$1,714$1,198$819$550$364$172
33 years$1,644$1,135$765$506$329$151
34 years$1,578$1,076$715$465$298$133
35 years$1,516$1,020$668$428$270$117
36 years$1,458$968$625$395$245$103
37 years$1,403$920$585$364$222$91
38 years$1,351$874$548$335$201$80
39 years$1,302$831$513$309$182$70
40 years$1,255$791$481$285$165$62
41 years$1,211$753$451$263$150$54
42 years$1,169$717$423$243$136$48
43 years$1,129$683$397$224$124$42
44 years$1,091$651$373$207$112$37
45 years$1,054$621$350$191$102$33
46 years$1,020$592$329$176$92$29
47 years$987$565$309$163$84$25
48 years$955$539$290$151$76$22
49 years$925$515$273$139$69$20
50 years$896$492$257$129$63$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $918,000, adding $3,540 every year, while hoping to spend $21,597 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: 52/32/16 Blend
61$918,000$918,000$918,000$918,000
62$1,015,288$966,634$952,405$1,063,499
63$1,095,868$991,020$961,331$1,121,309
64$1,183,943$1,015,877$969,833$1,181,584
65$1,280,256$1,041,205$977,873$1,246,662
66$1,385,623$1,067,004$985,412$1,317,005
67$1,500,942$1,093,273$992,409$1,393,122
68$1,627,205$1,120,010$998,821$1,475,571
69$1,765,501$1,147,212$1,004,603$1,564,970
70$1,917,031$1,174,875$1,009,706$1,661,997
71$2,083,118$1,202,994$1,014,081$1,767,401
72$2,265,218$1,231,563$1,017,675$1,882,005
73$2,464,936$1,260,575$1,020,433$2,006,717
74$2,684,038$1,290,021$1,022,296$2,142,537
75$2,924,470$1,319,892$1,023,203$2,290,566
76$3,188,376$1,350,177$1,023,090$2,452,020
77$3,478,117$1,380,862$1,021,890$2,628,236
78$3,796,294$1,411,934$1,019,533$2,820,687
79$4,145,773$1,443,376$1,015,944$3,030,999
80$4,529,710$1,475,169$1,011,046$3,260,960
81$4,951,582$1,507,293$1,004,758$3,512,544
82$5,415,219$1,539,727$996,993$3,787,924
83$5,924,843$1,572,446$987,664$4,089,496
84$6,485,103$1,605,421$976,677$4,419,899
85$7,101,121$1,638,624$963,933$4,782,043
86$7,778,540$1,672,022$949,330$5,179,134
87$8,523,580$1,705,579$932,760$5,614,705
88$9,343,089$1,739,257$914,112$6,092,651
89$10,244,617$1,773,013$893,268$6,617,264
90$11,236,479$1,806,802$870,103$7,193,272
91$12,327,839$1,840,574$844,491$7,825,891
92$13,528,793$1,874,277$816,296$8,520,864
93$14,850,465$1,907,851$785,376$9,284,524
94$16,305,112$1,941,235$751,586$10,123,849
95$17,906,239$1,974,362$714,770$11,046,532
96$19,668,729$2,007,159$674,769$12,061,049
97$21,608,979$2,039,549$631,413$13,176,742
98$23,745,056$2,071,449$584,527$14,403,908
99$26,096,870$2,102,768$533,926$15,753,897
100$28,686,358$2,133,411$479,420$17,239,214