Can I retire at age 62 with 930,000?

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 $930,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$76,799$76,114$75,447$74,796$74,160$73,051
2 years$38,019$37,311$36,625$35,959$35,314$34,200
3 years$25,094$24,383$23,699$23,040$22,405$21,320
4 years$18,633$17,924$17,247$16,599$15,979$14,931
5 years$14,757$14,053$13,384$12,749$12,147$11,139
6 years$12,175$11,475$10,816$10,196$9,612$8,645
7 years$10,330$9,637$8,988$8,383$7,817$6,892
8 years$8,948$8,261$7,623$7,032$6,485$5,602
9 years$7,873$7,192$6,566$5,990$5,461$4,619
10 years$7,014$6,340$5,724$5,163$4,653$3,852
11 years$6,311$5,644$5,039$4,493$4,002$3,240
12 years$5,726$5,066$4,472$3,941$3,468$2,745
13 years$5,231$4,578$3,996$3,480$3,024$2,339
14 years$4,808$4,161$3,590$3,089$2,651$2,003
15 years$4,441$3,801$3,241$2,755$2,334$1,721
16 years$4,120$3,488$2,939$2,467$2,063$1,485
17 years$3,838$3,212$2,674$2,216$1,829$1,284
18 years$3,587$2,968$2,441$1,997$1,626$1,113
19 years$3,362$2,751$2,235$1,805$1,450$967
20 years$3,161$2,556$2,051$1,634$1,295$841
21 years$2,979$2,381$1,887$1,483$1,159$733
22 years$2,813$2,222$1,739$1,349$1,039$640
23 years$2,662$2,079$1,605$1,228$932$559
24 years$2,524$1,948$1,485$1,120$838$489
25 years$2,398$1,828$1,375$1,023$754$428
26 years$2,281$1,718$1,275$935$679$374
27 years$2,173$1,617$1,184$856$612$328
28 years$2,073$1,523$1,101$785$553$288
29 years$1,980$1,437$1,025$719$499$252
30 years$1,893$1,357$954$660$451$222
31 years$1,812$1,283$890$606$408$194
32 years$1,736$1,214$830$557$369$171
33 years$1,665$1,150$775$512$334$150
34 years$1,599$1,090$724$472$302$132
35 years$1,536$1,033$677$434$274$116
36 years$1,477$981$633$400$248$102
37 years$1,421$932$593$368$225$90
38 years$1,369$885$555$339$204$79
39 years$1,319$842$520$313$185$69
40 years$1,271$801$488$289$168$61
41 years$1,227$762$457$266$152$54
42 years$1,184$726$429$246$138$47
43 years$1,144$692$402$227$125$41
44 years$1,105$659$378$210$114$36
45 years$1,068$629$355$194$103$32
46 years$1,033$600$333$179$94$28
47 years$1,000$573$313$165$85$25
48 years$968$547$294$153$77$22
49 years$937$522$276$141$70$19
50 years$908$499$260$130$64$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $930,000, adding $6,953 every year, while hoping to spend $31,133 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: 61/9/30 Blend
61$930,000$930,000$930,000$930,000
62$1,032,032$982,742$968,327$1,086,213
63$1,104,174$997,771$967,641$1,139,004
64$1,182,631$1,012,493$965,888$1,192,671
65$1,268,014$1,026,860$963,000$1,250,611
66$1,360,997$1,040,821$958,905$1,313,249
67$1,462,318$1,054,321$953,528$1,381,055
68$1,572,793$1,067,301$946,790$1,454,545
69$1,693,317$1,079,699$938,607$1,534,291
70$1,824,879$1,091,447$928,893$1,620,923
71$1,968,563$1,102,474$917,558$1,715,136
72$2,125,565$1,112,705$904,505$1,817,698
73$2,297,203$1,122,057$889,636$1,929,454
74$2,484,924$1,130,445$872,846$2,051,340
75$2,690,326$1,137,776$854,025$2,184,384
76$2,915,165$1,143,952$833,061$2,329,724
77$3,161,375$1,148,870$809,832$2,488,614
78$3,431,088$1,152,417$784,214$2,662,436
79$3,726,651$1,154,477$756,077$2,852,717
80$4,050,647$1,154,924$725,283$3,061,140
81$4,405,923$1,153,625$691,690$3,289,560
82$4,795,613$1,150,439$655,148$3,540,027
83$5,223,170$1,145,216$615,500$3,814,798
84$5,692,399$1,137,796$572,584$4,116,365
85$6,207,487$1,128,012$526,230$4,447,475
86$6,773,050$1,115,684$476,258$4,811,159
87$7,394,171$1,100,622$422,482$5,210,757
88$8,076,450$1,082,626$364,708$5,649,955
89$8,826,055$1,061,482$302,734$6,132,817
90$9,649,783$1,036,965$236,346$6,663,824
91$10,555,121$1,008,836$165,323$7,247,919
92$11,550,317$976,842$89,435$7,890,551
93$12,644,457$940,716$8,439$8,597,727
94$13,847,554$900,174$0$9,376,074
95$15,170,638$854,916$0$10,257,864
96$16,625,862$804,625$0$11,230,689
97$18,226,614$748,966$0$12,300,815
98$19,987,649$687,585$0$13,478,123
99$21,925,219$620,107$0$14,773,505
100$24,057,234$546,135$0$16,198,961