Can I retire at age 62 with 923,000?

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 $923,000?

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$76,220$75,542$74,879$74,233$73,601$72,412
2 years$37,733$37,030$36,349$35,689$35,048$33,853
3 years$24,905$24,200$23,520$22,866$22,236$21,072
4 years$18,493$17,789$17,117$16,474$15,859$14,736
5 years$14,646$13,947$13,283$12,653$12,056$10,976
6 years$12,083$11,389$10,735$10,119$9,539$8,505
7 years$10,253$9,564$8,921$8,319$7,758$6,769
8 years$8,880$8,198$7,565$6,979$6,436$5,492
9 years$7,814$7,138$6,516$5,945$5,420$4,521
10 years$6,961$6,292$5,681$5,124$4,618$3,763
11 years$6,264$5,601$5,001$4,460$3,972$3,160
12 years$5,683$5,027$4,439$3,912$3,442$2,672
13 years$5,192$4,543$3,966$3,453$3,001$2,272
14 years$4,772$4,130$3,563$3,066$2,631$1,941
15 years$4,407$3,773$3,217$2,734$2,317$1,665
16 years$4,089$3,461$2,917$2,448$2,047$1,433
17 years$3,809$3,188$2,654$2,199$1,815$1,237
18 years$3,560$2,946$2,423$1,982$1,614$1,070
19 years$3,337$2,730$2,218$1,791$1,439$927
20 years$3,137$2,537$2,036$1,622$1,285$805
21 years$2,956$2,363$1,872$1,472$1,150$700
22 years$2,792$2,206$1,726$1,339$1,031$609
23 years$2,642$2,063$1,593$1,219$925$531
24 years$2,505$1,933$1,474$1,112$832$463
25 years$2,380$1,814$1,365$1,015$748$404
26 years$2,264$1,705$1,266$928$674$353
27 years$2,157$1,604$1,175$850$608$309
28 years$2,057$1,512$1,093$779$548$270
29 years$1,965$1,426$1,017$714$495$236
30 years$1,879$1,347$947$655$447$207
31 years$1,799$1,273$883$602$405$181
32 years$1,723$1,205$824$553$366$159
33 years$1,653$1,141$769$509$331$139
34 years$1,587$1,081$719$468$300$122
35 years$1,525$1,026$672$431$272$107
36 years$1,466$973$629$397$246$94
37 years$1,411$925$588$366$223$82
38 years$1,358$879$551$337$202$72
39 years$1,309$836$516$311$183$63
40 years$1,262$795$484$287$166$55
41 years$1,217$757$454$264$151$49
42 years$1,175$721$426$244$137$43
43 years$1,135$687$399$225$124$37
44 years$1,097$655$375$208$113$33
45 years$1,060$624$352$192$102$29
46 years$1,025$595$331$177$93$25
47 years$992$568$311$164$84$22
48 years$961$542$292$151$77$20
49 years$930$518$274$140$70$17
50 years$901$495$258$129$63$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $923,000, adding $2,811 every year, while hoping to spend $21,664 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: 37/44/19 Blend
61$923,000$923,000$923,000$923,000
62$1,020,046$971,127$956,820$1,051,842
63$1,101,040$995,661$965,823$1,099,663
64$1,189,570$1,020,672$974,402$1,149,036
65$1,286,380$1,046,160$982,519$1,201,917
66$1,392,293$1,072,124$990,135$1,258,632
67$1,508,212$1,098,563$997,210$1,319,542
68$1,635,133$1,125,476$1,003,700$1,385,043
69$1,774,152$1,152,860$1,009,559$1,455,572
70$1,926,476$1,180,711$1,014,740$1,531,610
71$2,093,435$1,209,024$1,019,193$1,613,688
72$2,276,494$1,237,794$1,022,864$1,702,389
73$2,477,264$1,267,014$1,025,698$1,798,358
74$2,697,523$1,296,676$1,027,637$1,902,303
75$2,939,228$1,326,770$1,028,619$2,015,005
76$3,204,532$1,357,285$1,028,581$2,137,327
77$3,495,811$1,388,209$1,027,455$2,270,217
78$3,815,680$1,419,527$1,025,171$2,414,720
79$4,167,019$1,451,223$1,021,654$2,571,990
80$4,553,002$1,483,280$1,016,826$2,743,297
81$4,977,125$1,515,678$1,010,607$2,930,042
82$5,443,239$1,548,394$1,002,910$3,133,768
83$5,955,589$1,581,404$993,647$3,356,177
84$6,518,848$1,614,682$982,723$3,599,143
85$7,138,166$1,648,198$970,040$3,864,735
86$7,819,219$1,681,919$955,496$4,155,230
87$8,568,258$1,715,811$938,984$4,473,141
88$9,392,169$1,749,835$920,389$4,821,236
89$10,298,544$1,783,950$899,595$5,202,567
90$11,295,742$1,818,111$876,478$5,620,499
91$12,392,977$1,852,267$850,909$6,078,741
92$13,600,399$1,886,367$822,754$6,581,379
93$14,929,194$1,920,353$791,870$7,132,921
94$16,391,685$1,954,164$758,111$7,738,335
95$18,001,451$1,987,732$721,322$8,403,095
96$19,773,454$2,020,986$681,341$9,133,238
97$21,724,181$2,053,849$638,001$9,935,418
98$23,871,798$2,086,238$591,124$10,816,968
99$26,236,322$2,118,064$540,527$11,785,975
100$28,839,809$2,149,232$486,018$12,851,349