Can I retire at age 62 with 991,000?

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 $991,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$81,836$81,107$80,396$79,702$79,024$77,523
2 years$40,513$39,758$39,027$38,318$37,630$36,125
3 years$26,740$25,982$25,253$24,551$23,874$22,410
4 years$19,855$19,100$18,378$17,687$17,027$15,616
5 years$15,725$14,975$14,262$13,586$12,944$11,589
6 years$12,973$12,228$11,526$10,865$10,242$8,946
7 years$11,008$10,269$9,578$8,932$8,330$7,092
8 years$9,535$8,802$8,123$7,493$6,910$5,731
9 years$8,389$7,664$6,996$6,382$5,819$4,698
10 years$7,474$6,755$6,099$5,502$4,958$3,893
11 years$6,725$6,014$5,370$4,788$4,264$3,255
12 years$6,102$5,398$4,766$4,200$3,695$2,740
13 years$5,575$4,878$4,258$3,708$3,222$2,319
14 years$5,123$4,434$3,826$3,291$2,825$1,972
15 years$4,732$4,051$3,454$2,935$2,487$1,684
16 years$4,391$3,716$3,132$2,628$2,198$1,442
17 years$4,089$3,423$2,850$2,362$1,949$1,238
18 years$3,822$3,163$2,601$2,128$1,733$1,065
19 years$3,583$2,931$2,381$1,923$1,545$919
20 years$3,368$2,724$2,186$1,742$1,380$793
21 years$3,174$2,537$2,010$1,581$1,235$686
22 years$2,998$2,368$1,853$1,437$1,107$594
23 years$2,837$2,215$1,711$1,309$993$515
24 years$2,690$2,075$1,582$1,194$893$447
25 years$2,555$1,948$1,465$1,090$804$388
26 years$2,430$1,830$1,359$997$724$337
27 years$2,315$1,723$1,262$912$653$293
28 years$2,209$1,623$1,173$836$589$255
29 years$2,110$1,531$1,092$767$532$222
30 years$2,017$1,446$1,017$704$480$193
31 years$1,931$1,367$948$646$434$168
32 years$1,850$1,294$885$594$393$146
33 years$1,775$1,225$826$546$356$128
34 years$1,704$1,161$772$502$322$111
35 years$1,637$1,101$721$463$292$97
36 years$1,574$1,045$675$426$264$84
37 years$1,515$993$632$392$239$74
38 years$1,458$943$592$362$217$64
39 years$1,405$897$554$334$197$56
40 years$1,355$854$519$308$179$49
41 years$1,307$812$487$284$162$43
42 years$1,262$774$457$262$147$37
43 years$1,219$737$429$242$133$32
44 years$1,177$703$402$223$121$28
45 years$1,138$670$378$206$110$25
46 years$1,101$639$355$190$100$21
47 years$1,065$610$333$176$91$19
48 years$1,031$582$313$163$82$16
49 years$999$556$295$150$75$14
50 years$968$531$277$139$68$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $991,000, adding $3,435 every year, while hoping to spend $42,300 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: 58/33/9 Blend
61$991,000$991,000$991,000$991,000
62$1,095,625$1,043,102$1,027,742$1,156,688
63$1,162,372$1,049,207$1,017,164$1,204,283
64$1,234,509$1,054,194$1,004,815$1,251,079
65$1,312,542$1,057,962$990,589$1,301,051
66$1,397,026$1,060,407$974,378$1,354,506
67$1,488,572$1,061,416$956,069$1,411,786
68$1,587,850$1,060,869$935,541$1,473,268
69$1,695,599$1,058,640$912,669$1,539,367
70$1,812,630$1,054,593$887,324$1,610,545
71$1,939,837$1,048,587$859,369$1,687,309
72$2,078,203$1,040,470$828,659$1,770,223
73$2,228,807$1,030,081$795,047$1,859,907
74$2,392,840$1,017,250$758,376$1,957,049
75$2,571,611$1,001,796$718,482$2,062,408
76$2,766,559$983,527$675,195$2,176,821
77$2,979,269$962,242$628,336$2,301,217
78$3,211,488$937,725$577,719$2,436,618
79$3,465,136$909,749$523,148$2,584,156
80$3,742,327$878,074$464,421$2,745,081
81$4,045,389$842,445$401,324$2,920,772
82$4,376,887$802,593$333,636$3,112,754
83$4,739,641$758,232$261,125$3,322,711
84$5,136,760$709,061$183,548$3,552,503
85$5,571,666$654,761$100,653$3,804,183
86$6,048,128$594,996$12,177$4,080,020
87$6,570,296$529,410$0$4,382,517
88$7,142,740$457,625$0$4,722,336
89$7,770,495$379,244$0$5,096,394
90$8,459,106$293,848$0$5,506,918
91$9,214,680$200,991$0$5,957,658
92$10,043,944$100,206$0$6,452,752
93$10,954,308$0$0$6,996,765
94$11,953,934$0$0$7,598,001
95$13,051,814$0$0$8,298,384
96$14,257,853$0$0$9,067,856
97$15,582,963$0$0$9,913,389
98$17,039,164$0$0$10,842,667
99$18,639,701$0$0$11,864,151
100$20,399,162$0$0$12,987,166