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%13.9%
1 years$76,055$75,378$74,717$74,072$73,442$72,255
2 years$37,651$36,950$36,270$35,611$34,972$33,780
3 years$24,851$24,147$23,469$22,817$22,188$21,027
4 years$18,453$17,751$17,080$16,438$15,825$14,704
5 years$14,615$13,917$13,255$12,626$12,030$10,953
6 years$12,057$11,364$10,712$10,097$9,519$8,487
7 years$10,230$9,544$8,901$8,301$7,741$6,754
8 years$8,861$8,181$7,549$6,964$6,422$5,480
9 years$7,797$7,123$6,502$5,932$5,408$4,511
10 years$6,946$6,278$5,669$5,113$4,608$3,755
11 years$6,250$5,589$4,991$4,450$3,963$3,153
12 years$5,671$5,017$4,429$3,903$3,434$2,666
13 years$5,181$4,534$3,957$3,446$2,995$2,267
14 years$4,761$4,121$3,555$3,059$2,625$1,937
15 years$4,398$3,764$3,210$2,728$2,311$1,662
16 years$4,080$3,454$2,910$2,443$2,043$1,430
17 years$3,800$3,181$2,648$2,195$1,811$1,234
18 years$3,552$2,939$2,418$1,978$1,611$1,067
19 years$3,330$2,724$2,213$1,787$1,436$925
20 years$3,130$2,531$2,031$1,619$1,282$803
21 years$2,950$2,358$1,868$1,469$1,147$698
22 years$2,786$2,201$1,722$1,336$1,029$608
23 years$2,637$2,058$1,590$1,216$923$530
24 years$2,500$1,929$1,470$1,109$830$462
25 years$2,374$1,810$1,362$1,013$747$404
26 years$2,259$1,701$1,263$926$673$353
27 years$2,152$1,601$1,173$848$606$308
28 years$2,053$1,509$1,090$777$547$270
29 years$1,961$1,423$1,015$712$494$236
30 years$1,875$1,344$945$654$446$207
31 years$1,795$1,271$881$601$404$181
32 years$1,720$1,202$822$552$365$158
33 years$1,649$1,138$768$508$330$139
34 years$1,583$1,079$717$467$299$122
35 years$1,521$1,023$670$430$271$107
36 years$1,463$971$627$396$246$94
37 years$1,408$923$587$365$223$82
38 years$1,355$877$550$336$202$72
39 years$1,306$834$515$310$183$63
40 years$1,259$793$483$286$166$55
41 years$1,215$755$453$264$151$49
42 years$1,173$719$425$243$137$43
43 years$1,132$685$398$225$124$37
44 years$1,094$653$374$208$113$33
45 years$1,058$623$351$192$102$29
46 years$1,023$594$330$177$93$25
47 years$990$567$310$164$84$22
48 years$958$541$291$151$76$19
49 years$928$517$274$140$69$17
50 years$899$494$257$129$63$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $921,000, adding $4,486 every year, while hoping to spend $48,375 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: 69/11/20 Blend
61$921,000$921,000$921,000$921,000
62$1,019,569$970,756$956,481$1,084,599
63$1,072,095$966,853$937,052$1,124,698
64$1,128,356$961,137$915,352$1,162,467
65$1,188,684$953,468$891,252$1,202,611
66$1,253,441$943,698$864,619$1,245,360
67$1,323,023$931,671$835,315$1,290,971
68$1,397,867$917,218$803,194$1,339,725
69$1,478,452$900,164$768,103$1,391,935
70$1,565,303$880,322$729,884$1,447,947
71$1,658,999$857,493$688,370$1,508,142
72$1,760,175$831,467$643,388$1,572,944
73$1,869,526$802,023$594,755$1,642,820
74$1,987,821$768,925$542,282$1,718,286
75$2,115,901$731,925$485,771$1,799,913
76$2,254,693$690,759$425,014$1,888,333
77$2,405,215$645,150$359,796$1,984,244
78$2,568,588$594,803$289,890$2,088,417
79$2,746,043$539,407$215,060$2,201,703
80$2,938,935$478,634$135,061$2,325,046
81$3,148,756$412,136$49,635$2,459,485
82$3,377,144$339,547$0$2,606,170
83$3,625,906$260,477$0$2,775,233
84$3,897,027$174,519$0$2,971,095
85$4,192,692$81,239$0$3,184,763
86$4,515,307$0$0$3,418,013
87$4,867,520$0$0$3,675,203
88$5,252,246$0$0$3,966,923
89$5,672,694$0$0$4,285,779
90$6,132,396$0$0$4,634,457
91$6,635,242$0$0$5,015,914
92$7,185,514$0$0$5,433,404
93$7,787,929$0$0$5,890,513
94$8,447,679$0$0$6,391,189
95$9,170,483$0$0$6,939,778
96$9,962,639$0$0$7,541,070
97$10,831,082$0$0$8,200,336
98$11,783,454$0$0$8,923,385
99$12,828,166$0$0$9,716,613
100$13,974,488$0$0$10,587,066