Can I retire at age 62 with 929,000?

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 $929,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.9%
1 years$76,716$76,033$75,366$74,715$74,080$72,584
2 years$37,978$37,271$36,585$35,921$35,276$33,776
3 years$25,067$24,357$23,673$23,015$22,381$20,922
4 years$18,613$17,905$17,228$16,581$15,962$14,557
5 years$14,742$14,038$13,370$12,736$12,134$10,787
6 years$12,161$11,463$10,805$10,185$9,601$8,313
7 years$10,319$9,626$8,979$8,374$7,808$6,579
8 years$8,938$8,252$7,615$7,024$6,478$5,307
9 years$7,865$7,185$6,559$5,983$5,455$4,343
10 years$7,006$6,333$5,718$5,158$4,648$3,592
11 years$6,304$5,638$5,034$4,489$3,998$2,997
12 years$5,720$5,060$4,467$3,937$3,464$2,518
13 years$5,226$4,573$3,991$3,476$3,021$2,127
14 years$4,803$4,157$3,586$3,086$2,648$1,805
15 years$4,436$3,797$3,238$2,752$2,332$1,538
16 years$4,116$3,484$2,936$2,464$2,061$1,314
17 years$3,833$3,208$2,671$2,214$1,827$1,126
18 years$3,583$2,965$2,439$1,995$1,625$967
19 years$3,359$2,748$2,232$1,803$1,448$832
20 years$3,157$2,553$2,049$1,633$1,293$717
21 years$2,975$2,378$1,884$1,482$1,157$619
22 years$2,810$2,220$1,737$1,347$1,037$534
23 years$2,660$2,076$1,604$1,227$931$462
24 years$2,522$1,945$1,483$1,119$837$400
25 years$2,395$1,826$1,374$1,022$753$347
26 years$2,278$1,716$1,274$934$678$300
27 years$2,171$1,615$1,183$855$612$260
28 years$2,071$1,522$1,100$784$552$226
29 years$1,978$1,435$1,023$719$498$196
30 years$1,891$1,356$953$660$450$170
31 years$1,810$1,282$889$606$407$148
32 years$1,735$1,213$829$557$368$129
33 years$1,664$1,148$774$512$333$112
34 years$1,597$1,088$723$471$302$97
35 years$1,534$1,032$676$434$273$84
36 years$1,475$980$633$399$248$73
37 years$1,420$931$592$368$224$64
38 years$1,367$884$555$339$203$55
39 years$1,317$841$520$313$185$48
40 years$1,270$800$487$288$167$42
41 years$1,225$762$457$266$152$37
42 years$1,183$725$428$246$138$32
43 years$1,142$691$402$227$125$28
44 years$1,104$659$377$209$114$24
45 years$1,067$628$354$193$103$21
46 years$1,032$599$333$179$94$18
47 years$999$572$313$165$85$16
48 years$967$546$294$152$77$14
49 years$936$521$276$141$70$12
50 years$907$498$260$130$64$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $929,000, adding $4,221 every year, while hoping to spend $44,504 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: 57/22/21 Blend
61$929,000$929,000$929,000$929,000
62$1,028,112$978,875$964,475$1,080,697
63$1,085,627$979,488$949,433$1,117,629
64$1,147,518$978,639$932,396$1,152,725
65$1,214,183$976,211$913,249$1,190,000
66$1,286,060$972,076$891,874$1,229,677
67$1,363,632$966,101$868,146$1,271,999
68$1,447,428$958,146$841,934$1,317,237
69$1,538,029$948,058$813,102$1,365,694
70$1,636,075$935,680$781,508$1,417,704
71$1,742,268$920,842$747,002$1,473,635
72$1,857,382$903,365$709,428$1,533,900
73$1,982,265$883,060$668,624$1,598,952
74$2,117,852$859,726$624,420$1,669,295
75$2,265,171$833,151$576,636$1,745,488
76$2,425,353$803,110$525,087$1,828,147
77$2,599,640$769,364$469,579$1,917,959
78$2,789,403$731,662$409,909$2,015,680
79$2,996,146$689,737$345,865$2,122,149
80$3,221,527$643,308$277,226$2,238,294
81$3,467,370$592,078$203,760$2,365,142
82$3,735,682$535,730$125,226$2,503,829
83$4,028,673$473,932$41,373$2,655,612
84$4,348,775$406,332$0$2,821,880
85$4,698,667$332,560$0$3,014,952
86$5,081,297$252,221$0$3,236,341
87$5,499,912$164,902$0$3,478,708
88$5,958,085$70,165$0$3,744,199
89$6,459,753$0$0$4,035,177
90$7,009,251$0$0$4,362,110
91$7,611,351$0$0$4,739,032
92$8,271,311$0$0$5,152,257
93$8,994,920$0$0$5,605,422
94$9,788,555$0$0$6,102,529
95$10,659,240$0$0$6,647,991
96$11,614,711$0$0$7,246,664
97$12,663,489$0$0$7,903,900
98$13,814,961$0$0$8,625,593
99$15,079,466$0$0$9,418,237
100$16,468,396$0$0$10,288,985