Can I retire at age 62 with 919,000?

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 $919,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$75,890$75,214$74,555$73,911$73,282$72,337
2 years$37,569$36,870$36,192$35,534$34,896$33,945
3 years$24,797$24,095$23,418$22,767$22,140$21,212
4 years$18,413$17,712$17,043$16,402$15,790$14,894
5 years$14,583$13,887$13,226$12,599$12,003$11,140
6 years$12,031$11,339$10,688$10,075$9,498$8,670
7 years$10,208$9,523$8,882$8,283$7,724$6,931
8 years$8,842$8,163$7,533$6,949$6,408$5,650
9 years$7,780$7,107$6,488$5,919$5,397$4,673
10 years$6,931$6,265$5,656$5,102$4,598$3,908
11 years$6,236$5,577$4,980$4,440$3,955$3,298
12 years$5,658$5,006$4,419$3,895$3,427$2,803
13 years$5,170$4,524$3,948$3,438$2,988$2,396
14 years$4,751$4,112$3,548$3,052$2,620$2,058
15 years$4,388$3,756$3,203$2,722$2,306$1,775
16 years$4,072$3,446$2,904$2,437$2,038$1,536
17 years$3,792$3,174$2,643$2,190$1,807$1,333
18 years$3,544$2,933$2,412$1,974$1,607$1,160
19 years$3,323$2,718$2,208$1,783$1,432$1,011
20 years$3,123$2,526$2,027$1,615$1,279$883
21 years$2,943$2,353$1,864$1,466$1,145$773
22 years$2,780$2,196$1,718$1,333$1,026$677
23 years$2,631$2,054$1,586$1,214$921$593
24 years$2,495$1,924$1,467$1,107$828$521
25 years$2,369$1,806$1,359$1,011$745$458
26 years$2,254$1,697$1,260$924$671$402
27 years$2,147$1,597$1,170$846$605$354
28 years$2,048$1,505$1,088$775$546$312
29 years$1,956$1,420$1,012$711$493$275
30 years$1,871$1,341$943$652$446$242
31 years$1,791$1,268$879$599$403$213
32 years$1,716$1,200$820$551$364$188
33 years$1,646$1,136$766$506$330$166
34 years$1,580$1,077$716$466$299$146
35 years$1,518$1,021$669$429$270$129
36 years$1,460$969$626$395$245$114
37 years$1,404$921$586$364$222$101
38 years$1,352$875$549$335$201$89
39 years$1,303$832$514$309$183$79
40 years$1,256$792$482$285$166$69
41 years$1,212$753$452$263$150$61
42 years$1,170$718$424$243$136$54
43 years$1,130$684$398$224$124$48
44 years$1,092$652$373$207$112$42
45 years$1,056$621$350$191$102$37
46 years$1,021$593$329$177$93$33
47 years$988$566$309$163$84$29
48 years$956$540$291$151$76$26
49 years$926$516$273$139$69$23
50 years$897$493$257$129$63$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $919,000, adding $3,328 every year, while hoping to spend $39,906 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: 46/48/6 Blend
61$919,000$919,000$919,000$919,000
62$1,016,171$967,464$953,219$1,061,115
63$1,077,361$972,410$942,693$1,097,296
64$1,143,454$976,261$930,476$1,132,079
65$1,214,910$978,921$916,470$1,168,872
66$1,292,231$980,288$900,572$1,207,873
67$1,375,971$980,255$882,673$1,249,302
68$1,466,738$978,705$862,661$1,293,402
69$1,565,201$975,518$840,416$1,340,444
70$1,672,097$970,564$815,815$1,390,728
71$1,788,234$963,705$788,729$1,444,588
72$1,914,504$954,796$759,021$1,502,392
73$2,051,884$943,682$726,549$1,564,552
74$2,201,454$930,200$691,166$1,631,521
75$2,364,399$914,176$652,716$1,703,805
76$2,542,023$895,426$611,038$1,781,961
77$2,735,763$873,756$565,962$1,866,611
78$2,947,201$848,959$517,311$1,958,440
79$3,178,075$820,818$464,900$2,058,209
80$3,430,301$789,101$408,537$2,166,762
81$3,705,988$753,564$348,020$2,285,031
82$4,007,459$713,948$283,138$2,414,051
83$4,337,268$669,979$213,671$2,554,966
84$4,698,230$621,370$139,391$2,709,043
85$5,093,446$567,813$60,056$2,877,685
86$5,526,327$508,986$0$3,062,444
87$6,000,633$444,546$0$3,266,612
88$6,520,503$374,134$0$3,494,720
89$7,090,495$297,368$0$3,745,037
90$7,715,631$213,844$0$4,019,906
91$8,401,440$123,137$0$4,321,917
92$9,154,015$24,799$0$4,653,930
93$9,980,065$0$0$5,019,108
94$10,886,980$0$0$5,464,071
95$11,882,903$0$0$5,967,199
96$12,976,802$0$0$6,519,939
97$14,178,556$0$0$7,127,297
98$15,499,050$0$0$7,794,789
99$16,950,274$0$0$8,528,491
100$18,545,438$0$0$9,335,097