Can I retire at age 62 with 922,000?

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 $922,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$76,138$75,460$74,798$74,152$73,522$71,599
2 years$37,692$36,990$36,310$35,650$35,010$33,086
3 years$24,878$24,173$23,495$22,841$22,212$20,347
4 years$18,473$17,770$17,098$16,456$15,842$14,050
5 years$14,631$13,932$13,269$12,640$12,043$10,329
6 years$12,070$11,376$10,723$10,108$9,529$7,895
7 years$10,241$9,554$8,911$8,310$7,750$6,196
8 years$8,871$8,189$7,557$6,971$6,429$4,955
9 years$7,805$7,130$6,509$5,938$5,414$4,018
10 years$6,953$6,285$5,675$5,119$4,613$3,293
11 years$6,257$5,595$4,996$4,455$3,967$2,721
12 years$5,677$5,022$4,434$3,907$3,438$2,264
13 years$5,186$4,538$3,961$3,450$2,998$1,894
14 years$4,766$4,125$3,559$3,062$2,628$1,591
15 years$4,403$3,769$3,214$2,731$2,314$1,341
16 years$4,085$3,458$2,914$2,445$2,045$1,134
17 years$3,805$3,184$2,651$2,197$1,813$961
18 years$3,556$2,942$2,420$1,980$1,612$816
19 years$3,333$2,727$2,216$1,789$1,437$694
20 years$3,134$2,534$2,033$1,620$1,284$592
21 years$2,953$2,360$1,870$1,471$1,149$505
22 years$2,789$2,203$1,724$1,337$1,030$431
23 years$2,640$2,061$1,592$1,218$924$368
24 years$2,503$1,931$1,472$1,111$831$315
25 years$2,377$1,812$1,363$1,014$748$270
26 years$2,261$1,703$1,264$927$673$231
27 years$2,154$1,603$1,174$849$607$198
28 years$2,055$1,510$1,091$778$548$170
29 years$1,963$1,425$1,016$713$495$145
30 years$1,877$1,345$946$655$447$125
31 years$1,797$1,272$882$601$404$107
32 years$1,722$1,203$823$552$366$92
33 years$1,651$1,140$768$508$331$79
34 years$1,585$1,080$718$467$300$68
35 years$1,523$1,025$671$430$271$58
36 years$1,464$972$628$396$246$50
37 years$1,409$924$588$365$223$43
38 years$1,357$878$550$337$202$37
39 years$1,307$835$516$310$183$32
40 years$1,261$794$483$286$166$27
41 years$1,216$756$453$264$151$23
42 years$1,174$720$425$244$137$20
43 years$1,134$686$399$225$124$17
44 years$1,095$654$374$208$113$15
45 years$1,059$623$352$192$102$13
46 years$1,024$595$330$177$93$11
47 years$991$568$310$164$84$9
48 years$959$542$292$151$77$8
49 years$929$517$274$140$70$7
50 years$900$494$258$129$63$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $922,000, adding $4,580 every year, while hoping to spend $32,276 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: 63/15/22 Blend
61$922,000$922,000$922,000$922,000
62$1,020,768$971,902$957,611$1,078,966
63$1,090,545$985,184$955,350$1,132,071
64$1,166,358$998,035$951,931$1,186,035
65$1,248,787$1,010,400$947,282$1,244,239
66$1,338,473$1,022,219$941,326$1,307,101
67$1,436,121$1,033,431$933,983$1,375,082
68$1,542,503$1,043,967$925,169$1,448,689
69$1,658,473$1,053,756$914,797$1,528,485
70$1,784,969$1,062,722$902,775$1,615,086
71$1,923,024$1,070,784$889,006$1,709,176
72$2,073,774$1,077,854$873,389$1,811,507
73$2,238,471$1,083,840$855,819$1,922,909
74$2,418,491$1,088,644$836,186$2,044,298
75$2,615,352$1,092,163$814,373$2,176,685
76$2,830,723$1,094,284$790,259$2,321,184
77$3,066,443$1,094,890$763,719$2,479,024
78$3,324,537$1,093,857$734,620$2,651,561
79$3,607,234$1,091,049$702,824$2,840,291
80$3,916,989$1,086,328$668,186$3,046,863
81$4,256,506$1,079,542$630,555$3,273,097
82$4,628,763$1,070,534$589,772$3,521,000
83$5,037,041$1,059,134$545,673$3,792,784
84$5,484,952$1,045,164$498,086$4,090,891
85$5,976,474$1,028,434$446,829$4,418,013
86$6,515,992$1,008,745$391,715$4,777,118
87$7,108,333$985,883$332,547$5,171,481
88$7,758,816$959,624$269,120$5,604,711
89$8,473,298$929,729$201,220$6,080,791
90$9,258,236$895,947$128,621$6,604,111
91$10,120,738$858,010$51,092$7,179,511
92$11,068,637$815,636$0$7,812,331
93$12,110,562$768,527$0$8,515,886
94$13,256,021$716,367$0$9,302,518
95$14,515,488$658,821$0$10,167,440
96$15,900,502$595,538$0$11,118,609
97$17,423,777$526,143$0$12,164,792
98$19,099,321$450,243$0$13,315,652
99$20,942,567$367,420$0$14,581,836
100$22,970,521$277,236$0$15,975,083