Can I retire at age 62 with 990,000?

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 $990,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.7%
1 years$81,753$81,025$80,315$79,621$78,944$76,478
2 years$40,472$39,718$38,988$38,279$37,592$35,130
3 years$26,713$25,956$25,228$24,526$23,850$21,469
4 years$19,835$19,081$18,359$17,670$17,010$14,728
5 years$15,710$14,959$14,248$13,572$12,931$10,753
6 years$12,960$12,215$11,514$10,854$10,232$8,161
7 years$10,997$10,259$9,568$8,923$8,321$6,358
8 years$9,525$8,793$8,115$7,486$6,903$5,045
9 years$8,381$7,656$6,989$6,376$5,813$4,059
10 years$7,466$6,749$6,093$5,496$4,953$3,300
11 years$6,718$6,008$5,364$4,783$4,260$2,704
12 years$6,095$5,392$4,761$4,196$3,692$2,231
13 years$5,569$4,873$4,253$3,704$3,219$1,849
14 years$5,118$4,430$3,822$3,288$2,822$1,540
15 years$4,727$4,046$3,451$2,932$2,485$1,286
16 years$4,386$3,713$3,128$2,626$2,196$1,077
17 years$4,085$3,419$2,847$2,359$1,947$904
18 years$3,818$3,159$2,599$2,126$1,731$761
19 years$3,579$2,928$2,379$1,921$1,543$641
20 years$3,365$2,721$2,183$1,740$1,378$541
21 years$3,171$2,534$2,008$1,579$1,233$457
22 years$2,995$2,366$1,851$1,436$1,106$386
23 years$2,834$2,213$1,709$1,308$992$327
24 years$2,687$2,073$1,581$1,193$892$276
25 years$2,552$1,946$1,464$1,089$803$234
26 years$2,428$1,829$1,358$996$723$198
27 years$2,313$1,721$1,261$912$652$168
28 years$2,206$1,622$1,172$835$588$143
29 years$2,107$1,530$1,091$766$531$121
30 years$2,015$1,445$1,016$703$480$103
31 years$1,929$1,366$947$646$434$87
32 years$1,848$1,292$884$593$392$74
33 years$1,773$1,224$825$546$355$63
34 years$1,702$1,160$771$502$322$53
35 years$1,635$1,100$721$462$291$45
36 years$1,572$1,044$674$426$264$38
37 years$1,513$992$631$392$239$33
38 years$1,457$942$591$361$217$28
39 years$1,404$896$554$333$197$24
40 years$1,353$853$519$307$178$20
41 years$1,306$812$487$284$162$17
42 years$1,260$773$456$262$147$14
43 years$1,217$737$428$242$133$12
44 years$1,176$702$402$223$121$10
45 years$1,137$669$378$206$110$9
46 years$1,100$639$355$190$100$8
47 years$1,064$609$333$176$91$6
48 years$1,030$582$313$162$82$5
49 years$998$556$294$150$75$5
50 years$967$531$277$139$68$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $990,000, adding $2,530 every year, while hoping to spend $24,988 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: 32/46/22 Blend
61$990,000$990,000$990,000$990,000
62$1,093,590$1,041,120$1,025,775$1,121,093
63$1,178,549$1,065,548$1,033,551$1,166,434
64$1,271,336$1,090,335$1,040,751$1,212,805
65$1,372,724$1,115,473$1,047,327$1,262,238
66$1,483,563$1,140,952$1,053,233$1,315,017
67$1,604,787$1,166,759$1,058,418$1,371,455
68$1,737,429$1,192,884$1,062,828$1,431,898
69$1,882,622$1,219,311$1,066,408$1,496,726
70$2,041,616$1,246,023$1,069,099$1,566,359
71$2,215,787$1,273,004$1,070,840$1,641,259
72$2,406,649$1,300,234$1,071,566$1,721,936
73$2,615,873$1,327,691$1,071,209$1,808,954
74$2,845,296$1,355,351$1,069,698$1,902,933
75$3,096,941$1,383,189$1,066,958$2,004,557
76$3,373,040$1,411,176$1,062,912$2,114,580
77$3,676,047$1,439,280$1,057,476$2,233,837
78$4,008,667$1,467,469$1,050,566$2,363,244
79$4,373,882$1,495,706$1,042,090$2,503,815
80$4,774,973$1,523,950$1,031,955$2,656,667
81$5,215,556$1,552,160$1,020,062$2,823,031
82$5,699,615$1,580,288$1,006,306$3,004,266
83$6,231,539$1,608,285$990,580$3,201,872
84$6,816,161$1,636,096$972,770$3,417,502
85$7,458,809$1,663,664$952,757$3,652,977
86$8,165,350$1,690,926$930,417$3,910,311
87$8,942,248$1,717,814$905,619$4,191,720
88$9,796,628$1,744,257$878,227$4,499,650
89$10,736,335$1,770,178$848,099$4,836,800
90$11,770,017$1,795,492$815,086$5,206,144
91$12,907,200$1,820,112$779,033$5,610,964
92$14,158,380$1,843,943$739,775$6,054,878
93$15,535,121$1,866,883$697,144$6,541,877
94$17,050,166$1,888,823$650,962$7,076,362
95$18,717,556$1,909,648$601,041$7,663,186
96$20,552,760$1,929,234$547,189$8,307,700
97$22,572,824$1,947,449$489,203$9,015,806
98$24,796,530$1,964,152$426,870$9,794,012
99$27,244,575$1,979,194$359,969$10,649,493
100$29,939,763$1,992,416$288,269$11,590,161