Can I retire at age 62 with 930,000?

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 $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%15%
1 years$76,799$76,114$75,447$74,796$74,160$72,632
2 years$38,019$37,311$36,625$35,959$35,314$33,783
3 years$25,094$24,383$23,699$23,040$22,405$20,916
4 years$18,633$17,924$17,247$16,599$15,979$14,546
5 years$14,757$14,053$13,384$12,749$12,147$10,773
6 years$12,175$11,475$10,816$10,196$9,612$8,297
7 years$10,330$9,637$8,988$8,383$7,817$6,563
8 years$8,948$8,261$7,623$7,032$6,485$5,291
9 years$7,873$7,192$6,566$5,990$5,461$4,327
10 years$7,014$6,340$5,724$5,163$4,653$3,577
11 years$6,311$5,644$5,039$4,493$4,002$2,983
12 years$5,726$5,066$4,472$3,941$3,468$2,504
13 years$5,231$4,578$3,996$3,480$3,024$2,114
14 years$4,808$4,161$3,590$3,089$2,651$1,793
15 years$4,441$3,801$3,241$2,755$2,334$1,527
16 years$4,120$3,488$2,939$2,467$2,063$1,304
17 years$3,838$3,212$2,674$2,216$1,829$1,116
18 years$3,587$2,968$2,441$1,997$1,626$958
19 years$3,362$2,751$2,235$1,805$1,450$823
20 years$3,161$2,556$2,051$1,634$1,295$709
21 years$2,979$2,381$1,887$1,483$1,159$611
22 years$2,813$2,222$1,739$1,349$1,039$528
23 years$2,662$2,079$1,605$1,228$932$456
24 years$2,524$1,948$1,485$1,120$838$394
25 years$2,398$1,828$1,375$1,023$754$341
26 years$2,281$1,718$1,275$935$679$296
27 years$2,173$1,617$1,184$856$612$256
28 years$2,073$1,523$1,101$785$553$222
29 years$1,980$1,437$1,025$719$499$193
30 years$1,893$1,357$954$660$451$167
31 years$1,812$1,283$890$606$408$145
32 years$1,736$1,214$830$557$369$126
33 years$1,665$1,150$775$512$334$109
34 years$1,599$1,090$724$472$302$95
35 years$1,536$1,033$677$434$274$82
36 years$1,477$981$633$400$248$72
37 years$1,421$932$593$368$225$62
38 years$1,369$885$555$339$204$54
39 years$1,319$842$520$313$185$47
40 years$1,271$801$488$289$168$41
41 years$1,227$762$457$266$152$35
42 years$1,184$726$429$246$138$31
43 years$1,144$692$402$227$125$27
44 years$1,105$659$378$210$114$23
45 years$1,068$629$355$194$103$20
46 years$1,033$600$333$179$94$18
47 years$1,000$573$313$165$85$15
48 years$968$547$294$153$77$13
49 years$937$522$276$141$70$12
50 years$908$499$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 $930,000, adding $5,942 every year, while hoping to spend $51,765 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: 61/30/9 Blend
61$930,000$930,000$930,000$930,000
62$1,030,989$981,699$967,284$1,091,474
63$1,081,073$974,725$944,611$1,125,730
64$1,134,529$965,674$919,443$1,156,614
65$1,191,649$954,390$891,642$1,189,017
66$1,252,749$940,707$861,064$1,223,087
67$1,318,178$924,449$827,557$1,258,989
68$1,388,316$905,431$790,964$1,296,905
69$1,463,582$883,455$751,119$1,337,040
70$1,544,435$858,312$707,850$1,379,622
71$1,631,380$829,782$660,975$1,424,901
72$1,724,969$797,630$610,307$1,473,161
73$1,825,811$761,609$555,647$1,524,712
74$1,934,574$721,458$496,791$1,579,903
75$2,051,989$676,898$433,523$1,639,120
76$2,178,864$627,638$365,618$1,702,791
77$2,316,084$573,368$292,841$1,771,392
78$2,464,622$513,760$214,949$1,845,452
79$2,625,548$448,469$131,684$1,925,559
80$2,800,039$377,129$42,780$2,012,363
81$2,989,388$299,354$0$2,106,587
82$3,195,019$214,736$0$2,214,035
83$3,418,497$122,844$0$2,335,302
84$3,661,544$23,223$0$2,467,290
85$3,926,054$0$0$2,611,121
86$4,214,111$0$0$2,795,967
87$4,528,010$0$0$3,005,816
88$4,870,274$0$0$3,234,695
89$5,243,681$0$0$3,484,473
90$5,651,291$0$0$3,757,202
91$6,096,469$0$0$4,055,146
92$6,582,920$0$0$4,380,792
93$7,114,724$0$0$4,736,884
94$7,696,373$0$0$5,126,438
95$8,332,813$0$0$5,552,779
96$9,029,489$0$0$6,019,564
97$9,792,398$0$0$6,530,824
98$10,628,144$0$0$7,090,997
99$11,543,999$0$0$7,704,969
100$12,547,972$0$0$8,378,123