Can I retire at age 62 with 929,000?

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 $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%17%
1 years$76,716$76,033$75,366$74,715$74,080$71,968
2 years$37,978$37,271$36,585$35,921$35,276$33,165
3 years$25,067$24,357$23,673$23,015$22,381$20,336
4 years$18,613$17,905$17,228$16,581$15,962$14,000
5 years$14,742$14,038$13,370$12,736$12,134$10,260
6 years$12,161$11,463$10,805$10,185$9,601$7,817
7 years$10,319$9,626$8,979$8,374$7,808$6,113
8 years$8,938$8,252$7,615$7,024$6,478$4,872
9 years$7,865$7,185$6,559$5,983$5,455$3,936
10 years$7,006$6,333$5,718$5,158$4,648$3,214
11 years$6,304$5,638$5,034$4,489$3,998$2,646
12 years$5,720$5,060$4,467$3,937$3,464$2,193
13 years$5,226$4,573$3,991$3,476$3,021$1,826
14 years$4,803$4,157$3,586$3,086$2,648$1,528
15 years$4,436$3,797$3,238$2,752$2,332$1,283
16 years$4,116$3,484$2,936$2,464$2,061$1,080
17 years$3,833$3,208$2,671$2,214$1,827$911
18 years$3,583$2,965$2,439$1,995$1,625$770
19 years$3,359$2,748$2,232$1,803$1,448$653
20 years$3,157$2,553$2,049$1,633$1,293$553
21 years$2,975$2,378$1,884$1,482$1,157$470
22 years$2,810$2,220$1,737$1,347$1,037$399
23 years$2,660$2,076$1,604$1,227$931$340
24 years$2,522$1,945$1,483$1,119$837$289
25 years$2,395$1,826$1,374$1,022$753$246
26 years$2,278$1,716$1,274$934$678$210
27 years$2,171$1,615$1,183$855$612$179
28 years$2,071$1,522$1,100$784$552$153
29 years$1,978$1,435$1,023$719$498$130
30 years$1,891$1,356$953$660$450$111
31 years$1,810$1,282$889$606$407$95
32 years$1,735$1,213$829$557$368$81
33 years$1,664$1,148$774$512$333$69
34 years$1,597$1,088$723$471$302$59
35 years$1,534$1,032$676$434$273$50
36 years$1,475$980$633$399$248$43
37 years$1,420$931$592$368$224$37
38 years$1,367$884$555$339$203$31
39 years$1,317$841$520$313$185$27
40 years$1,270$800$487$288$167$23
41 years$1,225$762$457$266$152$20
42 years$1,183$725$428$246$138$17
43 years$1,142$691$402$227$125$14
44 years$1,104$659$377$209$114$12
45 years$1,067$628$354$193$103$10
46 years$1,032$599$333$179$94$9
47 years$999$572$313$165$85$8
48 years$967$546$294$152$77$7
49 years$936$521$276$141$70$6
50 years$907$498$260$130$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $929,000, adding $5,319 every year, while hoping to spend $57,905 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: 75/13/12 Blend
61$929,000$929,000$929,000$929,000
62$1,029,245$980,008$965,608$1,103,592
63$1,072,617$966,417$936,345$1,139,787
64$1,118,473$950,221$904,162$1,171,655
65$1,167,004$931,228$868,898$1,204,977
66$1,218,420$909,241$830,388$1,239,878
67$1,272,951$884,046$788,458$1,276,496
68$1,330,847$855,419$742,927$1,314,988
69$1,392,382$823,123$693,603$1,355,522
70$1,457,856$786,907$640,290$1,398,289
71$1,527,598$746,505$582,780$1,443,498
72$1,601,965$701,637$520,855$1,491,380
73$1,681,352$652,004$454,291$1,542,193
74$1,766,191$597,292$382,850$1,596,220
75$1,856,953$537,170$306,286$1,653,778
76$1,954,157$471,287$224,342$1,715,215
77$2,058,372$399,270$136,748$1,780,916
78$2,170,220$320,729$43,224$1,851,310
79$2,290,387$235,249$0$1,926,869
80$2,419,623$142,393$0$2,015,361
81$2,558,753$41,699$0$2,116,498
82$2,708,683$0$0$2,225,422
83$2,870,407$0$0$2,352,515
84$3,045,018$0$0$2,496,205
85$3,233,717$0$0$2,651,519
86$3,437,824$0$0$2,819,547
87$3,658,790$0$0$3,001,488
88$3,898,208$0$0$3,198,658
89$4,157,833$0$0$3,412,507
90$4,439,593$0$0$3,644,628
91$4,745,609$0$0$3,896,772
92$5,078,213$0$0$4,170,867
93$5,439,973$0$0$4,469,034
94$5,833,711$0$0$4,793,605
95$6,262,535$0$0$5,147,147
96$6,729,863$0$0$5,532,485
97$7,239,457$0$0$5,952,728
98$7,795,460$0$0$6,411,297
99$8,402,428$0$0$6,911,960
100$9,065,380$0$0$7,458,861