Can I retire at age 62 with 922,000?

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 $922,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$76,138$75,460$74,798$74,152$73,522$72,513
2 years$37,692$36,990$36,310$35,650$35,010$33,996
3 years$24,878$24,173$23,495$22,841$22,212$21,223
4 years$18,473$17,770$17,098$16,456$15,842$14,886
5 years$14,631$13,932$13,269$12,640$12,043$11,123
6 years$12,070$11,376$10,723$10,108$9,529$8,647
7 years$10,241$9,554$8,911$8,310$7,750$6,905
8 years$8,871$8,189$7,557$6,971$6,429$5,622
9 years$7,805$7,130$6,509$5,938$5,414$4,644
10 years$6,953$6,285$5,675$5,119$4,613$3,880
11 years$6,257$5,595$4,996$4,455$3,967$3,270
12 years$5,677$5,022$4,434$3,907$3,438$2,776
13 years$5,186$4,538$3,961$3,450$2,998$2,370
14 years$4,766$4,125$3,559$3,062$2,628$2,033
15 years$4,403$3,769$3,214$2,731$2,314$1,751
16 years$4,085$3,458$2,914$2,445$2,045$1,513
17 years$3,805$3,184$2,651$2,197$1,813$1,311
18 years$3,556$2,942$2,420$1,980$1,612$1,139
19 years$3,333$2,727$2,216$1,789$1,437$992
20 years$3,134$2,534$2,033$1,620$1,284$865
21 years$2,953$2,360$1,870$1,471$1,149$755
22 years$2,789$2,203$1,724$1,337$1,030$661
23 years$2,640$2,061$1,592$1,218$924$578
24 years$2,503$1,931$1,472$1,111$831$507
25 years$2,377$1,812$1,363$1,014$748$445
26 years$2,261$1,703$1,264$927$673$390
27 years$2,154$1,603$1,174$849$607$343
28 years$2,055$1,510$1,091$778$548$301
29 years$1,963$1,425$1,016$713$495$265
30 years$1,877$1,345$946$655$447$233
31 years$1,797$1,272$882$601$404$205
32 years$1,722$1,203$823$552$366$181
33 years$1,651$1,140$768$508$331$159
34 years$1,585$1,080$718$467$300$140
35 years$1,523$1,025$671$430$271$124
36 years$1,464$972$628$396$246$109
37 years$1,409$924$588$365$223$96
38 years$1,357$878$550$337$202$85
39 years$1,307$835$516$310$183$75
40 years$1,261$794$483$286$166$66
41 years$1,216$756$453$264$151$58
42 years$1,174$720$425$244$137$51
43 years$1,134$686$399$225$124$45
44 years$1,095$654$374$208$113$40
45 years$1,059$623$352$192$102$35
46 years$1,024$595$330$177$93$31
47 years$991$568$310$164$84$27
48 years$959$542$292$151$77$24
49 years$929$517$274$140$70$21
50 years$900$494$258$129$63$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $922,000, adding $4,801 every year, while hoping to spend $54,505 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: 56/20/24 Blend
61$922,000$922,000$922,000$922,000
62$1,020,996$972,130$957,839$1,071,241
63$1,067,145$961,772$931,934$1,095,840
64$1,116,174$949,079$903,334$1,116,477
65$1,168,320$933,880$871,892$1,137,811
66$1,223,841$915,992$837,452$1,159,925
67$1,283,020$895,223$799,855$1,182,912
68$1,346,167$871,369$758,929$1,206,881
69$1,413,623$844,212$714,499$1,231,951
70$1,485,758$813,524$666,381$1,258,259
71$1,562,981$779,063$614,381$1,285,957
72$1,645,740$740,572$558,297$1,315,218
73$1,734,526$697,780$497,920$1,346,237
74$1,829,876$650,400$433,029$1,379,230
75$1,932,383$598,129$363,395$1,414,443
76$2,042,695$540,646$288,778$1,452,150
77$2,161,525$477,613$208,927$1,492,656
78$2,289,655$408,671$123,581$1,536,307
79$2,427,946$333,442$32,467$1,583,484
80$2,577,343$251,526$0$1,634,617
81$2,738,882$162,501$0$1,706,770
82$2,913,706$65,922$0$1,793,843
83$3,103,070$0$0$1,888,187
84$3,308,351$0$0$1,999,061
85$3,531,067$0$0$2,135,162
86$3,772,886$0$0$2,283,010
87$4,035,643$0$0$2,443,735
88$4,321,355$0$0$2,618,581
89$4,632,244$0$0$2,808,918
90$4,970,752$0$0$3,016,251
91$5,339,567$0$0$3,242,239
92$5,741,647$0$0$3,488,704
93$6,180,250$0$0$3,757,655
94$6,658,958$0$0$4,051,302
95$7,181,716$0$0$4,372,077
96$7,752,868$0$0$4,722,659
97$8,377,193$0$0$5,105,996
98$9,059,956$0$0$5,525,335
99$9,806,951$0$0$5,984,250
100$10,624,561$0$0$6,486,677