Can I retire at age 62 with 914,000?

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 $914,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$75,477$74,805$74,149$73,509$72,884$72,243
2 years$37,365$36,669$35,995$35,341$34,706$34,061
3 years$24,663$23,964$23,291$22,643$22,019$21,389
4 years$18,313$17,616$16,950$16,313$15,704$15,094
5 years$14,504$13,811$13,154$12,530$11,938$11,349
6 years$11,965$11,278$10,630$10,020$9,446$8,880
7 years$10,153$9,471$8,834$8,238$7,682$7,139
8 years$8,794$8,118$7,492$6,911$6,373$5,852
9 years$7,738$7,069$6,453$5,887$5,367$4,869
10 years$6,893$6,231$5,626$5,074$4,573$4,097
11 years$6,203$5,547$4,953$4,416$3,933$3,479
12 years$5,628$4,978$4,395$3,874$3,408$2,975
13 years$5,141$4,499$3,927$3,420$2,972$2,560
14 years$4,725$4,090$3,528$3,036$2,605$2,214
15 years$4,365$3,736$3,186$2,707$2,294$1,922
16 years$4,049$3,428$2,888$2,424$2,027$1,675
17 years$3,772$3,157$2,628$2,178$1,798$1,464
18 years$3,525$2,917$2,399$1,963$1,598$1,283
19 years$3,305$2,703$2,196$1,774$1,425$1,126
20 years$3,106$2,512$2,016$1,606$1,273$991
21 years$2,927$2,340$1,854$1,458$1,139$873
22 years$2,765$2,184$1,709$1,326$1,021$771
23 years$2,617$2,043$1,578$1,207$916$681
24 years$2,481$1,914$1,459$1,101$824$603
25 years$2,356$1,796$1,351$1,006$741$534
26 years$2,242$1,688$1,253$919$668$473
27 years$2,135$1,589$1,164$842$602$419
28 years$2,037$1,497$1,082$771$543$372
29 years$1,946$1,412$1,007$707$490$330
30 years$1,861$1,334$938$649$443$294
31 years$1,781$1,261$874$596$401$261
32 years$1,707$1,193$816$548$362$232
33 years$1,637$1,130$762$504$328$206
34 years$1,571$1,071$712$463$297$184
35 years$1,510$1,016$665$427$269$163
36 years$1,452$964$622$393$244$146
37 years$1,397$916$583$362$221$130
38 years$1,345$870$546$334$200$115
39 years$1,296$827$511$308$182$103
40 years$1,250$787$479$284$165$92
41 years$1,206$749$449$262$149$82
42 years$1,164$714$421$242$136$73
43 years$1,124$680$395$223$123$65
44 years$1,086$648$371$206$112$58
45 years$1,050$618$349$190$101$52
46 years$1,015$590$327$176$92$46
47 years$983$563$308$162$84$41
48 years$951$537$289$150$76$37
49 years$921$513$272$139$69$33
50 years$892$490$255$128$63$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $914,000, adding $3,411 every year, while hoping to spend $36,853 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: 72/6/22 Blend
61$914,000$914,000$914,000$914,000
62$1,010,746$962,304$948,137$1,077,817
63$1,074,631$970,246$940,689$1,130,891
64$1,143,797$977,342$931,755$1,184,289
65$1,218,744$983,511$921,249$1,241,861
66$1,300,021$988,668$909,076$1,304,016
67$1,388,233$992,723$895,139$1,371,207
68$1,484,044$995,577$879,338$1,443,932
69$1,588,186$997,130$861,565$1,522,739
70$1,701,462$997,270$841,709$1,608,236
71$1,824,758$995,883$819,652$1,701,090
72$1,959,047$992,845$795,274$1,802,038
73$2,105,400$988,025$768,447$1,911,895
74$2,264,998$981,285$739,036$2,031,556
75$2,439,136$972,477$706,903$2,162,009
76$2,629,245$961,446$671,902$2,304,347
77$2,836,897$948,025$633,879$2,459,771
78$3,063,823$932,040$592,676$2,629,608
79$3,311,928$913,306$548,126$2,815,320
80$3,583,310$891,624$500,054$3,018,522
81$3,880,282$866,787$448,280$3,240,991
82$4,205,386$838,575$392,612$3,484,689
83$4,561,423$806,753$332,853$3,751,780
84$4,951,480$771,076$268,796$4,044,649
85$5,378,954$731,282$200,223$4,365,926
86$5,847,587$687,093$126,909$4,718,512
87$6,361,499$638,219$48,619$5,105,605
88$6,925,230$584,350$0$5,530,730
89$7,543,780$525,160$0$6,005,977
90$8,222,655$460,303$0$6,540,145
91$8,967,923$389,414$0$7,126,598
92$9,786,264$312,108$0$7,770,614
93$10,685,039$227,978$0$8,478,007
94$11,672,358$136,594$0$9,255,184
95$12,757,153$37,501$0$10,109,203
96$13,949,265$0$0$11,047,841
97$15,259,534$0$0$12,084,276
98$16,699,906$0$0$13,226,392
99$18,283,539$0$0$14,482,154
100$20,024,930$0$0$15,863,064