Can I retire at age 62 with 920,000?

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 $920,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$75,973$75,296$74,636$73,991$73,362$70,815
2 years$37,610$36,910$36,231$35,573$34,934$32,395
3 years$24,824$24,121$23,444$22,792$22,164$19,712
4 years$18,433$17,731$17,061$16,420$15,807$13,461
5 years$14,599$13,902$13,240$12,612$12,017$9,782
6 years$12,044$11,352$10,700$10,086$9,508$7,388
7 years$10,219$9,533$8,892$8,292$7,733$5,725
8 years$8,852$8,172$7,541$6,956$6,415$4,519
9 years$7,788$7,115$6,495$5,925$5,402$3,616
10 years$6,938$6,271$5,662$5,108$4,603$2,923
11 years$6,243$5,583$4,985$4,445$3,959$2,382
12 years$5,664$5,011$4,424$3,899$3,431$1,953
13 years$5,175$4,529$3,953$3,442$2,992$1,609
14 years$4,756$4,116$3,552$3,056$2,622$1,331
15 years$4,393$3,760$3,207$2,725$2,309$1,105
16 years$4,076$3,450$2,907$2,440$2,041$920
17 years$3,796$3,177$2,645$2,192$1,809$767
18 years$3,548$2,936$2,415$1,976$1,609$641
19 years$3,326$2,721$2,211$1,785$1,434$536
20 years$3,127$2,529$2,029$1,617$1,281$449
21 years$2,947$2,355$1,866$1,467$1,146$377
22 years$2,783$2,199$1,720$1,334$1,027$316
23 years$2,634$2,056$1,588$1,215$922$266
24 years$2,497$1,927$1,469$1,108$829$223
25 years$2,372$1,808$1,360$1,012$746$188
26 years$2,256$1,699$1,262$925$672$158
27 years$2,150$1,599$1,172$847$606$133
28 years$2,050$1,507$1,089$776$547$112
29 years$1,958$1,422$1,014$712$494$94
30 years$1,873$1,343$944$653$446$79
31 years$1,793$1,269$880$600$403$67
32 years$1,718$1,201$821$551$365$56
33 years$1,648$1,137$767$507$330$47
34 years$1,582$1,078$716$466$299$40
35 years$1,520$1,022$670$429$271$34
36 years$1,461$970$627$395$245$28
37 years$1,406$922$586$364$222$24
38 years$1,354$876$549$336$202$20
39 years$1,305$833$515$310$183$17
40 years$1,258$792$482$286$166$14
41 years$1,213$754$452$264$150$12
42 years$1,171$718$424$243$136$10
43 years$1,131$684$398$224$124$9
44 years$1,093$652$374$207$112$7
45 years$1,057$622$351$191$102$6
46 years$1,022$593$330$177$93$5
47 years$989$566$310$163$84$4
48 years$957$541$291$151$76$4
49 years$927$516$273$140$69$3
50 years$898$493$257$129$63$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $920,000, adding $6,181 every year, while hoping to spend $20,249 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: 59/20/21 Blend
61$920,000$920,000$920,000$920,000
62$1,020,216$971,456$957,196$1,074,389
63$1,102,733$997,512$967,717$1,137,941
64$1,192,988$1,024,167$977,912$1,204,480
65$1,291,750$1,051,428$987,749$1,276,601
66$1,399,862$1,079,302$997,193$1,354,847
67$1,518,258$1,107,797$1,006,208$1,439,818
68$1,647,962$1,136,921$1,014,757$1,532,173
69$1,790,103$1,166,679$1,022,801$1,632,640
70$1,945,924$1,197,077$1,030,296$1,742,020
71$2,116,797$1,228,122$1,037,199$1,861,194
72$2,304,228$1,259,819$1,043,463$1,991,135
73$2,509,881$1,292,171$1,049,041$2,132,913
74$2,735,584$1,325,183$1,053,879$2,287,708
75$2,983,355$1,358,858$1,057,925$2,456,820
76$3,255,414$1,393,199$1,061,122$2,641,682
77$3,554,207$1,428,206$1,063,411$2,843,871
78$3,882,429$1,463,881$1,064,728$3,065,126
79$4,243,050$1,500,224$1,065,009$3,307,363
80$4,639,338$1,537,233$1,064,185$3,572,693
81$5,074,899$1,574,905$1,062,183$3,863,444
82$5,553,701$1,613,238$1,058,928$4,182,178
83$6,080,117$1,652,225$1,054,341$4,531,721
84$6,658,965$1,691,860$1,048,338$4,915,187
85$7,295,554$1,732,137$1,040,832$5,336,006
86$7,995,733$1,773,043$1,031,732$5,797,958
87$8,765,945$1,814,570$1,020,942$6,305,212
88$9,613,290$1,856,702$1,008,362$6,862,358
89$10,545,591$1,899,426$993,888$7,474,457
90$11,571,466$1,942,723$977,408$8,147,084
91$12,700,413$1,986,573$958,808$8,886,387
92$13,942,895$2,030,955$937,968$9,699,136
93$15,310,441$2,075,843$914,761$10,592,797
94$16,815,757$2,121,210$889,057$11,575,595
95$18,472,840$2,167,026$860,716$12,656,595
96$20,297,115$2,213,255$829,594$13,845,787
97$22,305,577$2,259,860$795,542$15,154,182
98$24,516,954$2,306,802$758,401$16,593,912
99$26,951,882$2,354,034$718,006$18,178,351
100$29,633,100$2,401,507$674,185$19,922,234