Can I retire at age 62 with 923,000?

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 $923,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$76,220$75,542$74,879$74,233$73,601$72,204
2 years$37,733$37,030$36,349$35,689$35,048$33,646
3 years$24,905$24,200$23,520$22,866$22,236$20,872
4 years$18,493$17,789$17,117$16,474$15,859$14,544
5 years$14,646$13,947$13,283$12,653$12,056$10,794
6 years$12,083$11,389$10,735$10,119$9,539$8,332
7 years$10,253$9,564$8,921$8,319$7,758$6,605
8 years$8,880$8,198$7,565$6,979$6,436$5,338
9 years$7,814$7,138$6,516$5,945$5,420$4,375
10 years$6,961$6,292$5,681$5,124$4,618$3,626
11 years$6,264$5,601$5,001$4,460$3,972$3,031
12 years$5,683$5,027$4,439$3,912$3,442$2,552
13 years$5,192$4,543$3,966$3,453$3,001$2,160
14 years$4,772$4,130$3,563$3,066$2,631$1,837
15 years$4,407$3,773$3,217$2,734$2,317$1,568
16 years$4,089$3,461$2,917$2,448$2,047$1,343
17 years$3,809$3,188$2,654$2,199$1,815$1,153
18 years$3,560$2,946$2,423$1,982$1,614$992
19 years$3,337$2,730$2,218$1,791$1,439$856
20 years$3,137$2,537$2,036$1,622$1,285$739
21 years$2,956$2,363$1,872$1,472$1,150$639
22 years$2,792$2,206$1,726$1,339$1,031$553
23 years$2,642$2,063$1,593$1,219$925$480
24 years$2,505$1,933$1,474$1,112$832$416
25 years$2,380$1,814$1,365$1,015$748$361
26 years$2,264$1,705$1,266$928$674$314
27 years$2,157$1,604$1,175$850$608$273
28 years$2,057$1,512$1,093$779$548$237
29 years$1,965$1,426$1,017$714$495$207
30 years$1,879$1,347$947$655$447$180
31 years$1,799$1,273$883$602$405$157
32 years$1,723$1,205$824$553$366$136
33 years$1,653$1,141$769$509$331$119
34 years$1,587$1,081$719$468$300$103
35 years$1,525$1,026$672$431$272$90
36 years$1,466$973$629$397$246$79
37 years$1,411$925$588$366$223$69
38 years$1,358$879$551$337$202$60
39 years$1,309$836$516$311$183$52
40 years$1,262$795$484$287$166$45
41 years$1,217$757$454$264$151$40
42 years$1,175$721$426$244$137$35
43 years$1,135$687$399$225$124$30
44 years$1,097$655$375$208$113$26
45 years$1,060$624$352$192$102$23
46 years$1,025$595$331$177$93$20
47 years$992$568$311$164$84$17
48 years$961$542$292$151$77$15
49 years$930$518$274$140$70$13
50 years$901$495$258$129$63$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $923,000, adding $3,226 every year, while hoping to spend $53,656 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: 45/45/10 Blend
61$923,000$923,000$923,000$923,000
62$1,020,474$971,555$957,248$1,063,370
63$1,067,472$962,071$932,226$1,083,921
64$1,117,467$950,325$904,568$1,100,438
65$1,170,705$936,148$874,128$1,117,134
66$1,227,461$919,363$840,755$1,134,043
67$1,288,032$899,782$804,291$1,151,209
68$1,352,746$877,205$764,569$1,168,683
69$1,421,960$851,423$721,416$1,186,525
70$1,496,068$822,210$674,651$1,204,807
71$1,575,501$789,332$624,086$1,223,611
72$1,660,731$752,539$569,522$1,243,034
73$1,752,277$711,565$510,753$1,263,185
74$1,850,709$666,131$447,562$1,284,195
75$1,956,651$615,942$379,726$1,306,209
76$2,070,791$560,684$307,007$1,329,397
77$2,193,881$500,027$229,162$1,353,951
78$2,326,750$433,621$145,932$1,380,090
79$2,470,308$361,099$57,051$1,408,065
80$2,625,556$282,069$0$1,438,157
81$2,793,592$196,119$0$1,474,723
82$2,975,625$102,816$0$1,520,848
83$3,172,983$1,698$0$1,570,882
84$3,387,129$0$0$1,625,320
85$3,619,667$0$0$1,738,056
86$3,872,367$0$0$1,861,576
87$4,147,173$0$0$1,996,002
88$4,446,222$0$0$2,142,393
89$4,771,871$0$0$2,301,913
90$5,126,707$0$0$2,475,846
91$5,513,582$0$0$2,665,603
92$5,935,633$0$0$2,872,738
93$6,396,313$0$0$3,098,960
94$6,899,422$0$0$3,346,154
95$7,449,145$0$0$3,616,390
96$8,050,088$0$0$3,911,952
97$8,707,322$0$0$4,235,352
98$9,426,433$0$0$4,589,357
99$10,213,568$0$0$4,977,013
100$11,075,499$0$0$5,401,676