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%18.4%
1 years$81,836$81,107$80,396$79,702$79,024$76,341
2 years$40,513$39,758$39,027$38,318$37,630$34,955
3 years$26,740$25,982$25,253$24,551$23,874$21,290
4 years$19,855$19,100$18,378$17,687$17,027$14,553
5 years$15,725$14,975$14,262$13,586$12,944$10,587
6 years$12,973$12,228$11,526$10,865$10,242$8,004
7 years$11,008$10,269$9,578$8,932$8,330$6,210
8 years$9,535$8,802$8,123$7,493$6,910$4,908
9 years$8,389$7,664$6,996$6,382$5,819$3,932
10 years$7,474$6,755$6,099$5,502$4,958$3,182
11 years$6,725$6,014$5,370$4,788$4,264$2,596
12 years$6,102$5,398$4,766$4,200$3,695$2,132
13 years$5,575$4,878$4,258$3,708$3,222$1,759
14 years$5,123$4,434$3,826$3,291$2,825$1,457
15 years$4,732$4,051$3,454$2,935$2,487$1,211
16 years$4,391$3,716$3,132$2,628$2,198$1,009
17 years$4,089$3,423$2,850$2,362$1,949$843
18 years$3,822$3,163$2,601$2,128$1,733$706
19 years$3,583$2,931$2,381$1,923$1,545$591
20 years$3,368$2,724$2,186$1,742$1,380$496
21 years$3,174$2,537$2,010$1,581$1,235$417
22 years$2,998$2,368$1,853$1,437$1,107$350
23 years$2,837$2,215$1,711$1,309$993$295
24 years$2,690$2,075$1,582$1,194$893$248
25 years$2,555$1,948$1,465$1,090$804$209
26 years$2,430$1,830$1,359$997$724$176
27 years$2,315$1,723$1,262$912$653$148
28 years$2,209$1,623$1,173$836$589$125
29 years$2,110$1,531$1,092$767$532$106
30 years$2,017$1,446$1,017$704$480$89
31 years$1,931$1,367$948$646$434$75
32 years$1,850$1,294$885$594$393$63
33 years$1,775$1,225$826$546$356$54
34 years$1,704$1,161$772$502$322$45
35 years$1,637$1,101$721$463$292$38
36 years$1,574$1,045$675$426$264$32
37 years$1,515$993$632$392$239$27
38 years$1,458$943$592$362$217$23
39 years$1,405$897$554$334$197$19
40 years$1,355$854$519$308$179$16
41 years$1,307$812$487$284$162$14
42 years$1,262$774$457$262$147$12
43 years$1,219$737$429$242$133$10
44 years$1,177$703$402$223$121$8
45 years$1,138$670$378$206$110$7
46 years$1,101$639$355$190$100$6
47 years$1,065$610$333$176$91$5
48 years$1,031$582$313$163$82$4
49 years$999$556$295$150$75$4
50 years$968$531$277$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $991,000, adding $4,262 every year, while hoping to spend $23,645 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: 37/40/23 Blend
61$991,000$991,000$991,000$991,000
62$1,096,478$1,043,955$1,028,595$1,129,338
63$1,183,161$1,069,951$1,037,895$1,179,723
64$1,277,893$1,096,428$1,046,713$1,231,606
65$1,381,470$1,123,385$1,055,010$1,287,175
66$1,494,769$1,150,820$1,062,742$1,346,776
67$1,618,754$1,178,729$1,069,863$1,410,790
68$1,754,489$1,207,108$1,076,325$1,479,637
69$1,903,143$1,235,953$1,082,079$1,553,780
70$2,066,006$1,265,257$1,087,070$1,633,730
71$2,244,495$1,295,012$1,091,244$1,720,049
72$2,440,176$1,325,209$1,094,543$1,813,356
73$2,654,767$1,355,838$1,096,904$1,914,335
74$2,890,167$1,386,887$1,098,263$2,023,739
75$3,148,463$1,418,344$1,098,554$2,142,397
76$3,431,955$1,450,191$1,097,704$2,271,224
77$3,743,177$1,482,414$1,095,640$2,411,229
78$4,084,921$1,514,991$1,092,284$2,563,523
79$4,460,260$1,547,904$1,087,553$2,729,331
80$4,872,583$1,581,127$1,081,362$2,910,005
81$5,325,620$1,614,635$1,073,621$3,107,034
82$5,823,481$1,648,401$1,064,235$3,322,059
83$6,370,696$1,682,392$1,053,107$3,556,891
84$6,972,253$1,716,576$1,040,132$3,813,525
85$7,633,649$1,750,914$1,025,203$4,094,161
86$8,360,940$1,785,367$1,008,205$4,401,225
87$9,160,797$1,819,891$989,021$4,737,390
88$10,040,571$1,854,439$967,526$5,105,604
89$11,008,361$1,888,958$943,591$5,509,117
90$12,073,091$1,923,394$917,078$5,951,513
91$13,244,593$1,957,687$887,846$6,436,741
92$14,533,699$1,991,771$855,747$6,969,155
93$15,952,346$2,025,578$820,624$7,553,558
94$17,513,685$2,059,031$782,315$8,195,240
95$19,232,209$2,092,051$740,651$8,900,037
96$21,123,884$2,124,552$695,452$9,674,380
97$23,206,304$2,156,439$646,534$10,525,362
98$25,498,856$2,187,614$593,702$11,460,798
99$28,022,903$2,217,970$536,754$12,489,306
100$30,801,982$2,247,393$475,478$13,620,385