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%15.8%
1 years$76,055$75,378$74,717$74,072$73,442$71,696
2 years$37,651$36,950$36,270$35,611$34,972$33,223
3 years$24,851$24,147$23,469$22,817$22,188$20,490
4 years$18,453$17,751$17,080$16,438$15,825$14,192
5 years$14,615$13,917$13,255$12,626$12,030$10,467
6 years$12,057$11,364$10,712$10,097$9,519$8,027
7 years$10,230$9,544$8,901$8,301$7,741$6,320
8 years$8,861$8,181$7,549$6,964$6,422$5,072
9 years$7,797$7,123$6,502$5,932$5,408$4,128
10 years$6,946$6,278$5,669$5,113$4,608$3,396
11 years$6,250$5,589$4,991$4,450$3,963$2,817
12 years$5,671$5,017$4,429$3,903$3,434$2,353
13 years$5,181$4,534$3,957$3,446$2,995$1,976
14 years$4,761$4,121$3,555$3,059$2,625$1,667
15 years$4,398$3,764$3,210$2,728$2,311$1,411
16 years$4,080$3,454$2,910$2,443$2,043$1,198
17 years$3,800$3,181$2,648$2,195$1,811$1,020
18 years$3,552$2,939$2,418$1,978$1,611$870
19 years$3,330$2,724$2,213$1,787$1,436$744
20 years$3,130$2,531$2,031$1,619$1,282$636
21 years$2,950$2,358$1,868$1,469$1,147$545
22 years$2,786$2,201$1,722$1,336$1,029$468
23 years$2,637$2,058$1,590$1,216$923$402
24 years$2,500$1,929$1,470$1,109$830$345
25 years$2,374$1,810$1,362$1,013$747$297
26 years$2,259$1,701$1,263$926$673$256
27 years$2,152$1,601$1,173$848$606$220
28 years$2,053$1,509$1,090$777$547$189
29 years$1,961$1,423$1,015$712$494$163
30 years$1,875$1,344$945$654$446$141
31 years$1,795$1,271$881$601$404$121
32 years$1,720$1,202$822$552$365$105
33 years$1,649$1,138$768$508$330$90
34 years$1,583$1,079$717$467$299$78
35 years$1,521$1,023$670$430$271$67
36 years$1,463$971$627$396$246$58
37 years$1,408$923$587$365$223$50
38 years$1,355$877$550$336$202$43
39 years$1,306$834$515$310$183$37
40 years$1,259$793$483$286$166$32
41 years$1,215$755$453$264$151$28
42 years$1,173$719$425$243$137$24
43 years$1,132$685$398$225$124$21
44 years$1,094$653$374$208$113$18
45 years$1,058$623$351$192$102$15
46 years$1,023$594$330$177$93$13
47 years$990$567$310$164$84$11
48 years$958$541$291$151$76$10
49 years$928$517$274$140$69$9
50 years$899$494$257$129$63$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $921,000, adding $3,193 every year, while hoping to spend $57,602 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: 68/8/24 Blend
61$921,000$921,000$921,000$921,000
62$1,018,236$969,423$955,147$1,081,026
63$1,060,808$955,636$925,856$1,109,757
64$1,105,791$939,244$893,654$1,134,260
65$1,153,372$920,057$858,381$1,159,718
66$1,203,752$897,875$819,873$1,186,224
67$1,257,151$872,488$777,956$1,213,885
68$1,313,812$843,672$732,449$1,242,816
69$1,373,998$811,188$683,163$1,273,149
70$1,437,998$774,788$629,900$1,305,031
71$1,506,126$734,206$572,455$1,338,625
72$1,578,730$689,161$510,611$1,374,112
73$1,656,187$639,356$444,143$1,411,696
74$1,738,912$584,479$372,816$1,451,604
75$1,827,359$524,196$296,383$1,494,087
76$1,922,028$458,160$214,590$1,539,425
77$2,023,463$385,998$127,167$1,587,931
78$2,132,264$307,319$33,835$1,639,952
79$2,249,088$221,712$0$1,695,873
80$2,374,658$128,739$0$1,772,966
81$2,509,765$27,939$0$1,865,205
82$2,655,279$0$0$1,964,528
83$2,812,156$0$0$2,078,753
84$2,981,444$0$0$2,204,711
85$3,164,296$0$0$2,340,806
86$3,361,980$0$0$2,487,985
87$3,575,887$0$0$2,647,291
88$3,807,550$0$0$2,819,871
89$4,058,650$0$0$3,006,984
90$4,331,038$0$0$3,210,017
91$4,626,749$0$0$3,430,494
92$4,948,023$0$0$3,670,090
93$5,297,320$0$0$3,930,650
94$5,677,351$0$0$4,214,203
95$6,091,096$0$0$4,522,982
96$6,541,834$0$0$4,859,441
97$7,033,175$0$0$5,226,286
98$7,569,092$0$0$5,626,491
99$8,153,955$0$0$6,063,332
100$8,792,578$0$0$6,540,413