Can I retire at age 62 with 910,000?

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 $910,000?

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$75,147$74,478$73,825$73,187$72,565$72,229
2 years$37,201$36,509$35,837$35,186$34,555$34,215
3 years$24,555$23,859$23,189$22,544$21,923$21,591
4 years$18,232$17,539$16,876$16,242$15,636$15,314
5 years$14,440$13,751$13,096$12,475$11,886$11,575
6 years$11,913$11,228$10,584$9,977$9,405$9,105
7 years$10,108$9,430$8,795$8,202$7,649$7,360
8 years$8,755$8,083$7,459$6,881$6,345$6,068
9 years$7,704$7,038$6,424$5,861$5,344$5,078
10 years$6,863$6,203$5,601$5,052$4,553$4,299
11 years$6,175$5,522$4,931$4,397$3,916$3,672
12 years$5,603$4,957$4,376$3,857$3,393$3,161
13 years$5,119$4,479$3,910$3,405$2,959$2,737
14 years$4,704$4,072$3,513$3,022$2,594$2,382
15 years$4,345$3,719$3,172$2,695$2,284$2,083
16 years$4,032$3,413$2,876$2,413$2,019$1,827
17 years$3,755$3,143$2,617$2,168$1,790$1,608
18 years$3,510$2,904$2,389$1,954$1,591$1,419
19 years$3,290$2,692$2,187$1,766$1,418$1,255
20 years$3,093$2,501$2,007$1,599$1,267$1,112
21 years$2,915$2,330$1,846$1,451$1,134$987
22 years$2,753$2,175$1,701$1,320$1,016$878
23 years$2,605$2,034$1,571$1,202$912$782
24 years$2,470$1,906$1,453$1,096$820$697
25 years$2,346$1,788$1,346$1,001$738$622
26 years$2,232$1,681$1,248$915$665$555
27 years$2,126$1,582$1,159$838$599$496
28 years$2,028$1,491$1,077$768$541$444
29 years$1,937$1,406$1,003$704$488$398
30 years$1,852$1,328$934$646$441$356
31 years$1,773$1,255$871$593$399$319
32 years$1,699$1,188$812$545$361$286
33 years$1,630$1,125$758$501$326$257
34 years$1,564$1,066$709$461$296$230
35 years$1,503$1,011$662$425$268$207
36 years$1,445$960$620$391$243$185
37 years$1,391$912$580$360$220$167
38 years$1,339$866$543$332$199$150
39 years$1,290$824$509$306$181$134
40 years$1,244$784$477$283$164$121
41 years$1,200$746$447$261$149$109
42 years$1,159$711$420$241$135$98
43 years$1,119$677$394$222$122$88
44 years$1,081$645$370$205$111$79
45 years$1,045$615$347$189$101$71
46 years$1,011$587$326$175$92$64
47 years$978$560$306$162$83$57
48 years$947$535$288$149$76$52
49 years$917$511$270$138$69$46
50 years$888$488$254$128$62$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $910,000, adding $6,929 every year, while hoping to spend $55,505 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: 39/32/29 Blend
61$910,000$910,000$910,000$910,000
62$1,009,967$961,737$947,632$1,040,453
63$1,053,927$949,805$920,321$1,051,471
64$1,100,510$935,429$890,235$1,057,769
65$1,149,926$918,429$857,221$1,063,531
66$1,202,403$898,616$821,123$1,068,744
67$1,258,192$875,791$781,773$1,073,398
68$1,317,564$849,742$739,000$1,077,488
69$1,380,820$820,244$692,621$1,081,013
70$1,448,288$787,060$642,447$1,083,979
71$1,520,325$749,938$588,282$1,086,395
72$1,597,327$708,613$529,918$1,088,279
73$1,679,723$662,805$467,139$1,089,659
74$1,767,987$612,214$399,720$1,090,570
75$1,862,638$556,528$327,427$1,091,059
76$1,964,243$495,415$250,012$1,091,186
77$2,073,429$428,523$167,220$1,091,025
78$2,190,879$355,481$78,783$1,090,665
79$2,317,347$275,898$0$1,090,216
80$2,453,660$189,360$0$1,094,631
81$2,600,724$95,430$0$1,125,567
82$2,759,538$0$0$1,158,892
83$2,931,198$0$0$1,197,152
84$3,116,907$0$0$1,274,994
85$3,317,991$0$0$1,359,382
86$3,535,905$0$0$1,450,938
87$3,772,250$0$0$1,550,349
88$4,028,786$0$0$1,658,371
89$4,307,450$0$0$1,775,831
90$4,610,370$0$0$1,903,644
91$4,939,891$0$0$2,042,815
92$5,298,589$0$0$2,194,449
93$5,689,302$0$0$2,359,762
94$6,115,151$0$0$2,540,093
95$6,579,570$0$0$2,736,917
96$7,086,342$0$0$2,951,855
97$7,639,627$0$0$3,186,695
98$8,244,008$0$0$3,443,400
99$8,904,527$0$0$3,724,137
100$9,626,738$0$0$4,031,289