Can I retire at age 62 with 931,000?

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 $931,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$76,881$76,196$75,528$74,876$74,239$73,895
2 years$38,060$37,351$36,664$35,998$35,352$35,005
3 years$25,121$24,409$23,724$23,064$22,429$22,089
4 years$18,653$17,943$17,265$16,617$15,996$15,667
5 years$14,773$14,068$13,398$12,763$12,160$11,842
6 years$12,188$11,487$10,828$10,207$9,622$9,315
7 years$10,341$9,647$8,998$8,392$7,825$7,530
8 years$8,957$8,269$7,631$7,039$6,492$6,208
9 years$7,882$7,200$6,573$5,996$5,467$5,195
10 years$7,021$6,346$5,730$5,169$4,658$4,398
11 years$6,318$5,650$5,045$4,498$4,006$3,757
12 years$5,732$5,071$4,477$3,946$3,472$3,234
13 years$5,237$4,583$4,000$3,483$3,027$2,800
14 years$4,813$4,166$3,594$3,092$2,654$2,437
15 years$4,446$3,805$3,245$2,758$2,337$2,131
16 years$4,125$3,491$2,942$2,469$2,065$1,869
17 years$3,842$3,215$2,677$2,219$1,831$1,645
18 years$3,591$2,971$2,444$1,999$1,628$1,452
19 years$3,366$2,754$2,237$1,807$1,451$1,284
20 years$3,164$2,559$2,053$1,636$1,296$1,138
21 years$2,982$2,383$1,889$1,485$1,160$1,010
22 years$2,816$2,225$1,741$1,350$1,040$898
23 years$2,665$2,081$1,607$1,230$933$800
24 years$2,527$1,950$1,486$1,121$839$713
25 years$2,400$1,830$1,377$1,024$755$636
26 years$2,283$1,720$1,277$936$680$568
27 years$2,175$1,618$1,186$857$613$508
28 years$2,075$1,525$1,102$785$553$454
29 years$1,982$1,439$1,026$720$499$407
30 years$1,895$1,359$955$661$451$364
31 years$1,814$1,284$891$607$408$326
32 years$1,738$1,215$831$558$369$293
33 years$1,667$1,151$776$513$334$262
34 years$1,601$1,091$725$472$302$235
35 years$1,538$1,035$678$435$274$211
36 years$1,479$982$634$400$248$190
37 years$1,423$933$593$369$225$170
38 years$1,370$886$556$340$204$153
39 years$1,320$843$521$313$185$138
40 years$1,273$802$488$289$168$124
41 years$1,228$763$458$267$152$111
42 years$1,185$727$429$246$138$100
43 years$1,145$693$403$227$125$90
44 years$1,106$660$378$210$114$81
45 years$1,069$630$355$194$103$73
46 years$1,034$601$333$179$94$65
47 years$1,001$573$313$165$85$59
48 years$969$547$294$153$77$53
49 years$938$522$277$141$70$47
50 years$909$499$260$130$64$43

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $931,000, adding $6,027 every year, while hoping to spend $52,617 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: 28/44/28 Blend
61$931,000$931,000$931,000$931,000
62$1,032,179$982,836$968,405$1,051,994
63$1,081,477$975,011$944,863$1,060,482
64$1,134,040$965,039$918,768$1,064,652
65$1,190,146$952,759$889,980$1,068,073
66$1,250,097$938,001$858,352$1,070,720
67$1,314,229$920,585$823,728$1,072,565
68$1,382,905$900,319$785,948$1,073,588
69$1,456,528$877,000$744,843$1,073,769
70$1,535,535$850,415$700,237$1,073,095
71$1,620,410$820,336$651,946$1,071,557
72$1,711,683$786,523$599,776$1,069,151
73$1,809,933$748,721$543,528$1,065,881
74$1,915,801$706,663$482,991$1,061,760
75$2,029,987$660,064$417,945$1,056,809
76$2,153,261$608,622$348,161$1,051,062
77$2,286,469$552,021$273,401$1,044,562
78$2,430,543$489,923$193,413$1,037,371
79$2,586,504$421,975$107,938$1,029,565
80$2,755,477$347,801$16,703$1,021,238
81$2,938,696$267,005$0$1,012,507
82$3,137,523$179,167$0$1,027,611
83$3,353,450$83,847$0$1,049,511
84$3,588,124$0$0$1,073,502
85$3,843,351$0$0$1,109,320
86$4,121,123$0$0$1,192,616
87$4,423,628$0$0$1,283,469
88$4,753,277$0$0$1,382,619
89$5,112,721$0$0$1,490,881
90$5,504,878$0$0$1,609,154
91$5,932,961$0$0$1,738,426
92$6,400,506$0$0$1,879,786
93$6,911,406$0$0$2,034,432
94$7,469,945$0$0$2,203,683
95$8,080,844$0$0$2,388,993
96$8,749,297$0$0$2,591,961
97$9,481,024$0$0$2,814,350
98$10,282,325$0$0$3,058,099
99$11,160,138$0$0$3,325,347
100$12,122,101$0$0$3,618,446