Can I retire at age 62 with 920,000?

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 $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$75,973$75,296$74,636$73,991$73,362$73,053
2 years$37,610$36,910$36,231$35,573$34,934$34,622
3 years$24,824$24,121$23,444$22,792$22,164$21,858
4 years$18,433$17,731$17,061$16,420$15,807$15,511
5 years$14,599$13,902$13,240$12,612$12,017$11,730
6 years$12,044$11,352$10,700$10,086$9,508$9,232
7 years$10,219$9,533$8,892$8,292$7,733$7,467
8 years$8,852$8,172$7,541$6,956$6,415$6,160
9 years$7,788$7,115$6,495$5,925$5,402$5,158
10 years$6,938$6,271$5,662$5,108$4,603$4,369
11 years$6,243$5,583$4,985$4,445$3,959$3,735
12 years$5,664$5,011$4,424$3,899$3,431$3,216
13 years$5,175$4,529$3,953$3,442$2,992$2,787
14 years$4,756$4,116$3,552$3,056$2,622$2,427
15 years$4,393$3,760$3,207$2,725$2,309$2,123
16 years$4,076$3,450$2,907$2,440$2,041$1,864
17 years$3,796$3,177$2,645$2,192$1,809$1,642
18 years$3,548$2,936$2,415$1,976$1,609$1,450
19 years$3,326$2,721$2,211$1,785$1,434$1,283
20 years$3,127$2,529$2,029$1,617$1,281$1,138
21 years$2,947$2,355$1,866$1,467$1,146$1,011
22 years$2,783$2,199$1,720$1,334$1,027$900
23 years$2,634$2,056$1,588$1,215$922$801
24 years$2,497$1,927$1,469$1,108$829$715
25 years$2,372$1,808$1,360$1,012$746$639
26 years$2,256$1,699$1,262$925$672$571
27 years$2,150$1,599$1,172$847$606$511
28 years$2,050$1,507$1,089$776$547$457
29 years$1,958$1,422$1,014$712$494$409
30 years$1,873$1,343$944$653$446$367
31 years$1,793$1,269$880$600$403$329
32 years$1,718$1,201$821$551$365$295
33 years$1,648$1,137$767$507$330$265
34 years$1,582$1,078$716$466$299$238
35 years$1,520$1,022$670$429$271$214
36 years$1,461$970$627$395$245$192
37 years$1,406$922$586$364$222$173
38 years$1,354$876$549$336$202$155
39 years$1,305$833$515$310$183$140
40 years$1,258$792$482$286$166$126
41 years$1,213$754$452$264$150$113
42 years$1,171$718$424$243$136$102
43 years$1,131$684$398$224$124$91
44 years$1,093$652$374$207$112$82
45 years$1,057$622$351$191$102$74
46 years$1,022$593$330$177$93$67
47 years$989$566$310$163$84$60
48 years$957$541$291$151$76$54
49 years$927$516$273$140$69$49
50 years$898$493$257$129$63$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $920,000, adding $6,958 every year, while hoping to spend $38,484 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: 67/6/27 Blend
61$920,000$920,000$920,000$920,000
62$1,021,017$972,257$957,997$1,081,800
63$1,084,214$978,951$949,143$1,130,277
64$1,152,568$984,683$938,703$1,178,296
65$1,226,563$989,366$926,583$1,229,949
66$1,306,733$992,905$912,684$1,285,596
67$1,393,664$995,203$896,904$1,345,636
68$1,488,003$996,153$879,135$1,410,509
69$1,590,458$995,643$859,265$1,480,700
70$1,701,810$993,555$837,176$1,556,745
71$1,822,917$989,761$812,744$1,639,236
72$1,954,724$984,129$785,840$1,728,825
73$2,098,271$976,516$756,330$1,826,234
74$2,254,700$966,771$724,073$1,932,259
75$2,425,271$954,734$688,921$2,047,777
76$2,611,368$940,236$650,719$2,173,758
77$2,814,518$923,097$609,308$2,311,272
78$3,036,397$903,127$564,519$2,461,500
79$3,278,854$880,125$516,175$2,625,743
80$3,543,923$853,878$464,093$2,805,439
81$3,833,845$824,159$408,081$3,002,174
82$4,151,084$790,729$347,938$3,217,699
83$4,498,356$753,337$283,456$3,453,944
84$4,878,651$711,713$214,415$3,713,039
85$5,295,263$665,577$140,587$3,997,333
86$5,751,818$614,628$61,734$4,309,420
87$6,252,308$558,550$0$4,652,160
88$6,801,134$497,009$0$5,035,163
89$7,403,139$429,652$0$5,474,851
90$8,063,660$356,106$0$5,957,337
91$8,788,574$275,976$0$6,486,935
92$9,584,356$188,845$0$7,068,398
93$10,458,137$94,275$0$7,706,963
94$11,417,773$0$0$8,408,401
95$12,471,918$0$0$9,179,611
96$13,630,107$0$0$10,033,838
97$14,902,841$0$0$10,972,609
98$16,301,692$0$0$12,004,468
99$17,839,407$0$0$13,138,825
100$19,530,029$0$0$14,386,048