Can I retire at age 62 with 920,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%18.8%
1 years$75,973$75,296$74,636$73,991$73,362$70,759
2 years$37,610$36,910$36,231$35,573$34,934$32,340
3 years$24,824$24,121$23,444$22,792$22,164$19,659
4 years$18,433$17,731$17,061$16,420$15,807$13,411
5 years$14,599$13,902$13,240$12,612$12,017$9,736
6 years$12,044$11,352$10,700$10,086$9,508$7,345
7 years$10,219$9,533$8,892$8,292$7,733$5,686
8 years$8,852$8,172$7,541$6,956$6,415$4,483
9 years$7,788$7,115$6,495$5,925$5,402$3,582
10 years$6,938$6,271$5,662$5,108$4,603$2,892
11 years$6,243$5,583$4,985$4,445$3,959$2,353
12 years$5,664$5,011$4,424$3,899$3,431$1,927
13 years$5,175$4,529$3,953$3,442$2,992$1,586
14 years$4,756$4,116$3,552$3,056$2,622$1,310
15 years$4,393$3,760$3,207$2,725$2,309$1,086
16 years$4,076$3,450$2,907$2,440$2,041$902
17 years$3,796$3,177$2,645$2,192$1,809$751
18 years$3,548$2,936$2,415$1,976$1,609$627
19 years$3,326$2,721$2,211$1,785$1,434$524
20 years$3,127$2,529$2,029$1,617$1,281$438
21 years$2,947$2,355$1,866$1,467$1,146$367
22 years$2,783$2,199$1,720$1,334$1,027$308
23 years$2,634$2,056$1,588$1,215$922$258
24 years$2,497$1,927$1,469$1,108$829$216
25 years$2,372$1,808$1,360$1,012$746$182
26 years$2,256$1,699$1,262$925$672$153
27 years$2,150$1,599$1,172$847$606$128
28 years$2,050$1,507$1,089$776$547$108
29 years$1,958$1,422$1,014$712$494$91
30 years$1,873$1,343$944$653$446$76
31 years$1,793$1,269$880$600$403$64
32 years$1,718$1,201$821$551$365$54
33 years$1,648$1,137$767$507$330$45
34 years$1,582$1,078$716$466$299$38
35 years$1,520$1,022$670$429$271$32
36 years$1,461$970$627$395$245$27
37 years$1,406$922$586$364$222$23
38 years$1,354$876$549$336$202$19
39 years$1,305$833$515$310$183$16
40 years$1,258$792$482$286$166$14
41 years$1,213$754$452$264$150$11
42 years$1,171$718$424$243$136$10
43 years$1,131$684$398$224$124$8
44 years$1,093$652$374$207$112$7
45 years$1,057$622$351$191$102$6
46 years$1,022$593$330$177$93$5
47 years$989$566$310$163$84$4
48 years$957$541$291$151$76$3
49 years$927$516$273$140$69$3
50 years$898$493$257$129$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $920,000, adding $2,213 every year, while hoping to spend $24,983 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: 75/12/13 Blend
61$920,000$920,000$920,000$920,000
62$1,016,123$967,363$953,103$1,089,453
63$1,093,186$988,182$958,450$1,158,988
64$1,177,271$1,009,184$963,139$1,231,832
65$1,269,070$1,030,351$967,121$1,310,978
66$1,369,342$1,051,664$970,346$1,397,046
67$1,478,922$1,073,103$972,760$1,490,717
68$1,598,732$1,094,645$974,307$1,592,741
69$1,729,784$1,116,264$974,928$1,703,945
70$1,873,195$1,137,934$974,561$1,825,241
71$2,030,194$1,159,626$973,142$1,957,630
72$2,202,133$1,181,307$970,602$2,102,219
73$2,390,503$1,202,944$966,870$2,260,225
74$2,596,946$1,224,499$961,871$2,432,991
75$2,823,267$1,245,933$955,527$2,621,993
76$3,071,459$1,267,202$947,755$2,828,862
77$3,343,713$1,288,260$938,470$3,055,392
78$3,642,444$1,309,057$927,581$3,303,561
79$3,970,313$1,329,540$914,995$3,575,547
80$4,330,249$1,349,652$900,611$3,873,752
81$4,725,479$1,369,330$884,327$4,200,823
82$5,159,560$1,388,509$866,034$4,559,674
83$5,636,408$1,407,119$845,619$4,953,519
84$6,160,337$1,425,083$822,962$5,385,899
85$6,736,101$1,442,322$797,941$5,860,716
86$7,368,937$1,458,749$770,425$6,382,269
87$8,064,613$1,474,272$740,279$6,955,297
88$8,829,485$1,488,793$707,360$7,585,022
89$9,670,556$1,502,207$671,520$8,277,198
90$10,595,540$1,514,403$632,604$9,038,167
91$11,612,939$1,525,263$590,450$9,874,919
92$12,732,117$1,534,659$544,888$10,795,154
93$13,963,393$1,542,457$495,742$11,807,360
94$15,318,136$1,548,514$442,826$12,920,892
95$16,808,873$1,552,678$385,948$14,146,059
96$18,449,406$1,554,788$324,905$15,494,219
97$20,254,943$1,554,670$259,487$16,977,894
98$22,242,242$1,552,143$189,474$18,610,880
99$24,429,765$1,547,013$114,637$20,408,383
100$26,837,859$1,539,075$34,735$22,387,159