Can I retire at age 62 with 926,000?

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 $926,000?

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$76,468$75,787$75,123$74,474$73,841$70,911
2 years$37,856$37,151$36,467$35,805$35,162$32,247
3 years$24,986$24,278$23,597$22,940$22,308$19,499
4 years$18,553$17,847$17,172$16,527$15,910$13,229
5 years$14,694$13,992$13,326$12,695$12,095$9,548
6 years$12,122$11,426$10,770$10,152$9,570$7,159
7 years$10,286$9,595$8,950$8,346$7,783$5,507
8 years$8,909$8,225$7,590$7,002$6,457$4,314
9 years$7,839$7,161$6,537$5,964$5,438$3,424
10 years$6,984$6,312$5,699$5,141$4,633$2,745
11 years$6,284$5,620$5,018$4,474$3,985$2,218
12 years$5,701$5,044$4,453$3,924$3,453$1,803
13 years$5,209$4,558$3,978$3,465$3,011$1,472
14 years$4,787$4,143$3,575$3,076$2,640$1,207
15 years$4,422$3,785$3,227$2,743$2,324$993
16 years$4,103$3,473$2,926$2,456$2,054$818
17 years$3,821$3,198$2,663$2,207$1,821$676
18 years$3,571$2,955$2,431$1,989$1,619$559
19 years$3,348$2,739$2,225$1,797$1,443$463
20 years$3,147$2,545$2,042$1,627$1,289$384
21 years$2,966$2,371$1,878$1,477$1,154$319
22 years$2,801$2,213$1,731$1,343$1,034$265
23 years$2,651$2,070$1,598$1,223$928$221
24 years$2,514$1,939$1,478$1,115$834$183
25 years$2,387$1,820$1,369$1,019$751$153
26 years$2,271$1,710$1,270$931$676$127
27 years$2,164$1,610$1,179$853$610$106
28 years$2,064$1,517$1,096$781$550$88
29 years$1,971$1,431$1,020$716$497$73
30 years$1,885$1,351$950$657$449$61
31 years$1,804$1,277$886$604$406$51
32 years$1,729$1,209$827$555$367$43
33 years$1,658$1,145$772$510$332$35
34 years$1,592$1,085$721$469$301$30
35 years$1,530$1,029$674$432$272$25
36 years$1,471$977$631$398$247$21
37 years$1,415$928$590$367$224$17
38 years$1,363$882$553$338$203$14
39 years$1,313$838$518$312$184$12
40 years$1,266$798$485$287$167$10
41 years$1,221$759$455$265$151$8
42 years$1,179$723$427$245$137$7
43 years$1,139$689$401$226$125$6
44 years$1,100$657$376$209$113$5
45 years$1,064$626$353$193$103$4
46 years$1,029$597$332$178$93$3
47 years$995$570$312$164$85$3
48 years$964$544$293$152$77$2
49 years$933$520$275$140$70$2
50 years$904$496$259$130$63$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $926,000, adding $4,354 every year, while hoping to spend $46,795 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: 62/31/7 Blend
61$926,000$926,000$926,000$926,000
62$1,024,943$975,865$961,512$1,086,822
63$1,079,698$973,893$943,933$1,126,704
64$1,138,469$970,256$924,197$1,164,375
65$1,201,617$964,823$902,182$1,204,291
66$1,269,538$957,455$877,761$1,246,669
67$1,342,665$948,004$850,800$1,291,748
68$1,421,476$936,315$821,161$1,339,793
69$1,506,494$922,222$788,697$1,391,097
70$1,598,294$905,549$753,256$1,445,985
71$1,697,510$886,111$714,680$1,504,819
72$1,804,835$863,710$672,801$1,567,996
73$1,921,035$838,138$627,446$1,635,958
74$2,046,948$809,174$578,433$1,709,195
75$2,183,498$776,585$525,572$1,788,248
76$2,331,700$740,123$468,665$1,873,716
77$2,492,673$699,528$407,504$1,966,263
78$2,667,643$654,523$341,873$2,066,622
79$2,857,963$604,815$271,546$2,175,605
80$3,065,119$550,095$196,287$2,294,112
81$3,290,748$490,037$115,850$2,423,136
82$3,536,651$424,294$29,977$2,563,776
83$3,804,808$352,504$0$2,717,250
84$4,097,401$274,279$0$2,889,506
85$4,416,830$189,213$0$3,080,116
86$4,765,739$96,876$0$3,288,503
87$5,147,035$0$0$3,516,507
88$5,563,922$0$0$3,767,249
89$6,019,925$0$0$4,077,730
90$6,518,929$0$0$4,417,556
91$7,065,207$0$0$4,789,648
92$7,663,468$0$0$5,197,220
93$8,318,897$0$0$5,643,814
94$9,037,202$0$0$6,133,329
95$9,824,673$0$0$6,670,061
96$10,688,235$0$0$7,258,741
97$11,635,515$0$0$7,904,578
98$12,674,916$0$0$8,613,312
99$13,815,692$0$0$9,391,265
100$15,068,037$0$0$10,245,400