Can I retire at age 62 with 986,000?

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 $986,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$81,423$80,698$79,990$79,299$78,625$77,259
2 years$40,308$39,558$38,830$38,125$37,440$36,069
3 years$26,605$25,851$25,126$24,427$23,754$22,419
4 years$19,755$19,004$18,285$17,598$16,941$15,654
5 years$15,646$14,899$14,190$13,517$12,879$11,642
6 years$12,908$12,166$11,468$10,810$10,190$9,006
7 years$10,952$10,217$9,530$8,887$8,288$7,156
8 years$9,487$8,758$8,082$7,455$6,875$5,796
9 years$8,347$7,625$6,961$6,350$5,790$4,762
10 years$7,436$6,721$6,069$5,474$4,933$3,957
11 years$6,691$5,984$5,343$4,764$4,243$3,316
12 years$6,071$5,371$4,742$4,179$3,677$2,798
13 years$5,546$4,853$4,236$3,689$3,206$2,375
14 years$5,097$4,412$3,806$3,275$2,811$2,025
15 years$4,708$4,030$3,437$2,921$2,475$1,734
16 years$4,368$3,698$3,116$2,615$2,187$1,489
17 years$4,069$3,405$2,835$2,350$1,939$1,282
18 years$3,803$3,147$2,588$2,117$1,724$1,107
19 years$3,565$2,916$2,369$1,913$1,537$957
20 years$3,351$2,710$2,174$1,733$1,373$829
21 years$3,158$2,524$2,000$1,573$1,228$719
22 years$2,983$2,356$1,843$1,430$1,101$625
23 years$2,823$2,204$1,702$1,302$988$543
24 years$2,676$2,065$1,574$1,188$888$473
25 years$2,542$1,938$1,458$1,085$799$412
26 years$2,418$1,821$1,352$992$720$359
27 years$2,304$1,714$1,256$908$649$313
28 years$2,198$1,615$1,167$832$586$273
29 years$2,099$1,524$1,086$763$529$238
30 years$2,007$1,439$1,012$700$478$208
31 years$1,921$1,360$943$643$432$182
32 years$1,841$1,287$880$591$391$159
33 years$1,766$1,219$822$543$354$139
34 years$1,695$1,155$768$500$320$121
35 years$1,629$1,096$718$460$290$106
36 years$1,566$1,040$672$424$263$93
37 years$1,507$988$629$391$238$81
38 years$1,451$939$589$360$216$71
39 years$1,398$893$551$332$196$62
40 years$1,348$849$517$306$178$54
41 years$1,300$808$485$282$161$48
42 years$1,255$770$455$261$146$42
43 years$1,212$734$427$241$133$36
44 years$1,172$699$400$222$120$32
45 years$1,133$667$376$205$109$28
46 years$1,095$636$353$190$99$24
47 years$1,060$607$332$175$90$21
48 years$1,026$579$312$162$82$19
49 years$994$553$293$150$74$16
50 years$963$529$276$138$68$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $986,000, adding $4,922 every year, while hoping to spend $28,204 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: 53/27/20 Blend
61$986,000$986,000$986,000$986,000
62$1,091,649$1,039,391$1,024,108$1,143,283
63$1,172,988$1,060,312$1,028,407$1,200,200
64$1,261,679$1,081,314$1,031,904$1,258,742
65$1,358,441$1,102,369$1,034,544$1,321,838
66$1,464,067$1,123,450$1,036,266$1,389,931
67$1,579,430$1,144,527$1,037,009$1,463,509
68$1,705,489$1,165,566$1,036,706$1,543,111
69$1,843,303$1,186,532$1,035,289$1,629,330
70$1,994,034$1,207,387$1,032,687$1,722,819
71$2,158,967$1,228,090$1,028,822$1,824,301
72$2,339,510$1,248,595$1,023,617$1,934,571
73$2,537,220$1,268,856$1,016,987$2,054,506
74$2,753,807$1,288,820$1,008,847$2,185,073
75$2,991,156$1,308,433$999,104$2,327,338
76$3,251,343$1,327,636$987,663$2,482,479
77$3,536,655$1,346,365$974,425$2,651,791
78$3,849,609$1,364,552$959,284$2,836,704
79$4,192,979$1,382,125$942,130$3,038,796
80$4,569,821$1,399,007$922,849$3,259,805
81$4,983,498$1,415,115$901,320$3,501,648
82$5,437,719$1,430,359$877,418$3,766,440
83$5,936,567$1,444,647$851,012$4,056,511
84$6,484,539$1,457,877$821,963$4,374,433
85$7,086,591$1,469,942$790,128$4,723,038
86$7,748,182$1,480,728$755,357$5,105,454
87$8,475,327$1,490,114$717,491$5,525,124
88$9,274,651$1,497,970$676,367$5,985,849
89$10,153,453$1,504,158$631,813$6,491,817
90$11,119,775$1,508,532$583,649$7,047,647
91$12,182,479$1,510,937$531,688$7,658,432
92$13,351,325$1,511,207$475,734$8,329,786
93$14,637,071$1,509,166$415,581$9,067,899
94$16,051,566$1,504,629$351,016$9,879,596
95$17,607,866$1,497,396$281,817$10,772,400
96$19,320,360$1,487,260$207,748$11,754,606
97$21,204,897$1,473,996$128,568$12,835,360
98$23,278,943$1,457,369$44,022$14,024,744
99$25,561,743$1,437,128$0$15,333,871
100$28,074,502$1,413,008$0$16,784,854