Can I retire at age 62 with 919,000?

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 $919,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$75,890$75,214$74,555$73,911$73,282$71,280
2 years$37,569$36,870$36,192$35,534$34,896$32,893
3 years$24,797$24,095$23,418$22,767$22,140$20,199
4 years$18,413$17,712$17,043$16,402$15,790$13,927
5 years$14,583$13,887$13,226$12,599$12,003$10,222
6 years$12,031$11,339$10,688$10,075$9,498$7,801
7 years$10,208$9,523$8,882$8,283$7,724$6,111
8 years$8,842$8,163$7,533$6,949$6,408$4,878
9 years$7,780$7,107$6,488$5,919$5,397$3,949
10 years$6,931$6,265$5,656$5,102$4,598$3,230
11 years$6,236$5,577$4,980$4,440$3,955$2,665
12 years$5,658$5,006$4,419$3,895$3,427$2,212
13 years$5,170$4,524$3,948$3,438$2,988$1,847
14 years$4,751$4,112$3,548$3,052$2,620$1,548
15 years$4,388$3,756$3,203$2,722$2,306$1,302
16 years$4,072$3,446$2,904$2,437$2,038$1,099
17 years$3,792$3,174$2,643$2,190$1,807$929
18 years$3,544$2,933$2,412$1,974$1,607$787
19 years$3,323$2,718$2,208$1,783$1,432$668
20 years$3,123$2,526$2,027$1,615$1,279$568
21 years$2,943$2,353$1,864$1,466$1,145$484
22 years$2,780$2,196$1,718$1,333$1,026$412
23 years$2,631$2,054$1,586$1,214$921$351
24 years$2,495$1,924$1,467$1,107$828$300
25 years$2,369$1,806$1,359$1,011$745$256
26 years$2,254$1,697$1,260$924$671$219
27 years$2,147$1,597$1,170$846$605$187
28 years$2,048$1,505$1,088$775$546$160
29 years$1,956$1,420$1,012$711$493$137
30 years$1,871$1,341$943$652$446$117
31 years$1,791$1,268$879$599$403$100
32 years$1,716$1,200$820$551$364$86
33 years$1,646$1,136$766$506$330$73
34 years$1,580$1,077$716$466$299$63
35 years$1,518$1,021$669$429$270$54
36 years$1,460$969$626$395$245$46
37 years$1,404$921$586$364$222$39
38 years$1,352$875$549$335$201$34
39 years$1,303$832$514$309$183$29
40 years$1,256$792$482$285$166$25
41 years$1,212$753$452$263$150$21
42 years$1,170$718$424$243$136$18
43 years$1,130$684$398$224$124$16
44 years$1,092$652$373$207$112$13
45 years$1,056$621$350$191$102$11
46 years$1,021$593$329$177$93$10
47 years$988$566$309$163$84$8
48 years$956$540$291$151$76$7
49 years$926$516$273$139$69$6
50 years$897$493$257$129$63$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $919,000, adding $3,852 every year, while hoping to spend $25,439 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: 65/11/24 Blend
61$919,000$919,000$919,000$919,000
62$1,016,711$968,004$953,760$1,076,222
63$1,093,349$988,370$958,644$1,137,154
64$1,176,951$1,008,880$962,839$1,200,513
65$1,268,201$1,029,516$966,295$1,269,184
66$1,367,852$1,050,257$968,960$1,343,690
67$1,476,730$1,071,077$970,778$1,424,609
68$1,595,750$1,091,953$971,692$1,512,575
69$1,725,914$1,112,856$971,641$1,608,290
70$1,868,327$1,133,756$970,561$1,712,526
71$2,024,207$1,154,621$968,386$1,826,136
72$2,194,895$1,175,416$965,045$1,950,057
73$2,381,865$1,196,102$960,465$2,085,325
74$2,586,744$1,216,640$954,569$2,233,080
75$2,811,321$1,236,984$947,277$2,394,579
76$3,057,568$1,257,089$938,503$2,571,207
77$3,327,656$1,276,902$928,159$2,764,494
78$3,623,977$1,296,371$916,152$2,976,122
79$3,949,165$1,315,435$902,386$3,207,948
80$4,306,122$1,334,034$886,758$3,462,017
81$4,698,044$1,352,099$869,161$3,740,586
82$5,128,452$1,369,559$849,486$4,046,140
83$5,601,224$1,386,338$827,614$4,381,421
84$6,120,634$1,402,353$803,424$4,749,448
85$6,691,389$1,417,518$776,788$5,153,553
86$7,318,673$1,431,740$747,574$5,597,406
87$8,008,201$1,444,918$715,640$6,085,054
88$8,766,266$1,456,947$680,843$6,620,955
89$9,599,802$1,467,714$643,028$7,210,028
90$10,516,449$1,477,099$602,036$7,857,689
91$11,524,624$1,484,975$557,702$8,569,914
92$12,633,601$1,491,204$509,850$9,353,287
93$13,853,598$1,495,643$458,300$10,215,063
94$15,195,873$1,498,137$402,861$11,163,244
95$16,672,830$1,498,524$343,335$12,206,646
96$18,298,136$1,496,629$279,515$13,354,987
97$20,086,852$1,492,269$211,183$14,618,981
98$22,055,568$1,485,248$138,116$16,010,434
99$24,222,569$1,475,359$60,076$17,542,360
100$26,608,001$1,462,381$0$19,229,103