Can I retire at age 62 with 928,000?

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 $928,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$76,633$75,951$75,285$74,635$74,000$71,603
2 years$37,937$37,231$36,546$35,882$35,238$32,845
3 years$25,040$24,331$23,648$22,990$22,357$20,043
4 years$18,593$17,886$17,209$16,563$15,945$13,729
5 years$14,726$14,023$13,355$12,722$12,121$10,008
6 years$12,148$11,450$10,793$10,174$9,591$7,583
7 years$10,308$9,616$8,969$8,364$7,800$5,897
8 years$8,929$8,243$7,606$7,017$6,471$4,672
9 years$7,856$7,177$6,551$5,977$5,449$3,752
10 years$6,999$6,326$5,712$5,152$4,643$3,044
11 years$6,298$5,632$5,028$4,484$3,993$2,490
12 years$5,714$5,055$4,463$3,933$3,460$2,050
13 years$5,220$4,568$3,987$3,472$3,018$1,696
14 years$4,797$4,152$3,582$3,082$2,645$1,409
15 years$4,431$3,793$3,234$2,749$2,329$1,174
16 years$4,111$3,480$2,933$2,461$2,058$982
17 years$3,829$3,205$2,668$2,211$1,825$822
18 years$3,579$2,962$2,436$1,993$1,623$690
19 years$3,355$2,745$2,230$1,801$1,446$580
20 years$3,154$2,551$2,047$1,631$1,292$488
21 years$2,972$2,376$1,882$1,480$1,156$411
22 years$2,807$2,218$1,735$1,346$1,036$347
23 years$2,657$2,074$1,602$1,226$930$293
24 years$2,519$1,943$1,482$1,118$836$247
25 years$2,393$1,824$1,372$1,021$752$209
26 years$2,276$1,714$1,273$933$678$177
27 years$2,168$1,613$1,182$854$611$149
28 years$2,068$1,520$1,099$783$551$126
29 years$1,975$1,434$1,022$718$498$107
30 years$1,889$1,354$952$659$450$91
31 years$1,808$1,280$888$605$407$77
32 years$1,733$1,211$828$556$368$65
33 years$1,662$1,147$773$511$333$55
34 years$1,595$1,087$723$471$301$47
35 years$1,533$1,031$676$433$273$39
36 years$1,474$979$632$399$247$33
37 years$1,418$930$592$368$224$28
38 years$1,366$883$554$339$203$24
39 years$1,316$840$519$312$184$20
40 years$1,269$799$486$288$167$17
41 years$1,224$761$456$266$152$15
42 years$1,181$725$428$245$138$12
43 years$1,141$690$402$226$125$10
44 years$1,103$658$377$209$113$9
45 years$1,066$628$354$193$103$8
46 years$1,031$599$332$178$93$6
47 years$998$571$312$165$85$5
48 years$966$545$293$152$77$5
49 years$935$521$276$141$70$4
50 years$906$497$259$130$64$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $928,000, adding $6,003 every year, while hoping to spend $51,403 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: 35/39/26 Blend
61$928,000$928,000$928,000$928,000
62$1,028,848$979,664$965,280$1,056,604
63$1,079,098$972,975$942,925$1,071,109
64$1,132,751$964,236$918,097$1,081,666
65$1,190,099$953,291$890,661$1,092,048
66$1,251,464$939,977$860,473$1,102,274
67$1,317,197$924,120$827,383$1,112,369
68$1,387,685$905,535$791,234$1,122,363
69$1,463,351$884,028$751,862$1,132,296
70$1,544,659$859,392$709,096$1,142,218
71$1,632,120$831,408$662,756$1,152,188
72$1,726,294$799,845$612,657$1,162,276
73$1,827,797$764,458$558,601$1,172,568
74$1,937,303$724,988$500,386$1,183,163
75$2,055,556$681,160$437,797$1,194,178
76$2,183,372$632,686$370,611$1,205,751
77$2,321,646$579,257$298,597$1,218,038
78$2,471,364$520,552$221,510$1,231,222
79$2,633,611$456,226$139,098$1,245,513
80$2,809,576$385,918$51,096$1,261,153
81$3,000,572$309,247$0$1,278,414
82$3,208,038$225,808$0$1,309,490
83$3,433,560$135,175$0$1,358,758
84$3,678,882$36,897$0$1,412,515
85$3,945,922$0$0$1,471,306
86$4,236,792$0$0$1,565,566
87$4,553,815$0$0$1,685,682
88$4,899,547$0$0$1,816,803
89$5,276,804$0$0$1,960,013
90$5,688,682$0$0$2,116,504
91$6,138,591$0$0$2,287,589
92$6,630,285$0$0$2,474,713
93$7,167,897$0$0$2,679,469
94$7,755,978$0$0$2,903,608
95$8,399,536$0$0$3,149,061
96$9,104,090$0$0$3,417,952
97$9,875,714$0$0$3,712,622
98$10,721,099$0$0$4,035,649
99$11,647,611$0$0$4,389,871
100$12,663,366$0$0$4,778,416