Can I retire at age 62 with 921,000?

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 $921,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$76,055$75,378$74,717$74,072$73,442$70,528
2 years$37,651$36,950$36,270$35,611$34,972$32,073
3 years$24,851$24,147$23,469$22,817$22,188$19,394
4 years$18,453$17,751$17,080$16,438$15,825$13,157
5 years$14,615$13,917$13,255$12,626$12,030$9,496
6 years$12,057$11,364$10,712$10,097$9,519$7,120
7 years$10,230$9,544$8,901$8,301$7,741$5,477
8 years$8,861$8,181$7,549$6,964$6,422$4,290
9 years$7,797$7,123$6,502$5,932$5,408$3,406
10 years$6,946$6,278$5,669$5,113$4,608$2,730
11 years$6,250$5,589$4,991$4,450$3,963$2,206
12 years$5,671$5,017$4,429$3,903$3,434$1,793
13 years$5,181$4,534$3,957$3,446$2,995$1,464
14 years$4,761$4,121$3,555$3,059$2,625$1,201
15 years$4,398$3,764$3,210$2,728$2,311$987
16 years$4,080$3,454$2,910$2,443$2,043$814
17 years$3,800$3,181$2,648$2,195$1,811$672
18 years$3,552$2,939$2,418$1,978$1,611$556
19 years$3,330$2,724$2,213$1,787$1,436$461
20 years$3,130$2,531$2,031$1,619$1,282$382
21 years$2,950$2,358$1,868$1,469$1,147$317
22 years$2,786$2,201$1,722$1,336$1,029$264
23 years$2,637$2,058$1,590$1,216$923$219
24 years$2,500$1,929$1,470$1,109$830$182
25 years$2,374$1,810$1,362$1,013$747$152
26 years$2,259$1,701$1,263$926$673$126
27 years$2,152$1,601$1,173$848$606$105
28 years$2,053$1,509$1,090$777$547$88
29 years$1,961$1,423$1,015$712$494$73
30 years$1,875$1,344$945$654$446$61
31 years$1,795$1,271$881$601$404$51
32 years$1,720$1,202$822$552$365$42
33 years$1,649$1,138$768$508$330$35
34 years$1,583$1,079$717$467$299$29
35 years$1,521$1,023$670$430$271$25
36 years$1,463$971$627$396$246$20
37 years$1,408$923$587$365$223$17
38 years$1,355$877$550$336$202$14
39 years$1,306$834$515$310$183$12
40 years$1,259$793$483$286$166$10
41 years$1,215$755$453$264$151$8
42 years$1,173$719$425$243$137$7
43 years$1,132$685$398$225$124$6
44 years$1,094$653$374$208$113$5
45 years$1,058$623$351$192$102$4
46 years$1,023$594$330$177$93$3
47 years$990$567$310$164$84$3
48 years$958$541$291$151$76$2
49 years$928$517$274$140$69$2
50 years$899$494$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 $921,000, adding $3,306 every year, while hoping to spend $26,000 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: 55/24/21 Blend
61$921,000$921,000$921,000$921,000
62$1,018,352$969,539$955,264$1,068,385
63$1,094,560$989,383$959,601$1,122,839
64$1,177,670$1,009,327$963,213$1,179,082
65$1,268,358$1,029,350$966,046$1,239,772
66$1,367,370$1,049,427$968,047$1,305,341
67$1,475,524$1,069,532$969,159$1,376,267
68$1,593,723$1,089,634$969,322$1,453,078
69$1,722,961$1,109,705$968,473$1,536,354
70$1,864,332$1,129,709$966,545$1,626,736
71$2,019,040$1,149,611$963,470$1,724,928
72$2,188,411$1,169,371$959,176$1,831,710
73$2,373,906$1,188,947$953,585$1,947,941
74$2,577,134$1,208,294$946,619$2,074,565
75$2,799,864$1,227,364$938,194$2,212,626
76$3,044,049$1,246,104$928,223$2,363,275
77$3,311,837$1,264,458$916,613$2,527,780
78$3,605,594$1,282,366$903,269$2,707,539
79$3,927,927$1,299,764$888,091$2,904,095
80$4,281,706$1,316,583$870,972$3,119,147
81$4,670,094$1,332,750$851,804$3,354,569
82$5,096,575$1,348,186$830,471$3,612,430
83$5,564,986$1,362,807$806,852$3,895,006
84$6,079,555$1,376,525$780,822$4,204,812
85$6,644,939$1,389,244$752,249$4,544,617
86$7,266,267$1,400,861$720,994$4,917,474
87$7,949,193$1,411,270$686,913$5,326,753
88$8,699,943$1,420,354$649,857$5,776,164
89$9,525,377$1,427,991$609,667$6,269,802
90$10,433,053$1,434,051$566,179$6,812,178
91$11,431,300$1,438,395$519,221$7,408,268
92$12,529,291$1,440,874$468,613$8,063,556
93$13,737,135$1,441,334$414,168$8,784,090
94$15,065,969$1,439,606$355,690$9,576,535
95$16,528,066$1,435,514$292,973$10,448,241
96$18,136,945$1,428,871$225,804$11,407,308
97$19,907,505$1,419,477$153,960$12,462,669
98$21,856,161$1,407,122$77,208$13,624,168
99$24,001,000$1,391,581$0$14,902,659
100$26,361,951$1,372,617$0$16,311,161