Can I retire at age 62 with 932,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $932,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.2%
1 years$76,964$76,278$75,609$74,956$74,319$72,434
2 years$38,101$37,391$36,704$36,037$35,390$33,503
3 years$25,148$24,436$23,750$23,089$22,453$20,623
4 years$18,673$17,963$17,284$16,634$16,014$14,255
5 years$14,789$14,083$13,413$12,777$12,173$10,491
6 years$12,201$11,500$10,840$10,218$9,632$8,028
7 years$10,353$9,658$9,008$8,401$7,834$6,307
8 years$8,967$8,278$7,639$7,047$6,499$5,049
9 years$7,890$7,208$6,580$6,002$5,473$4,100
10 years$7,029$6,353$5,736$5,174$4,663$3,364
11 years$6,325$5,656$5,050$4,503$4,010$2,784
12 years$5,738$5,076$4,482$3,950$3,475$2,319
13 years$5,243$4,588$4,004$3,487$3,031$1,942
14 years$4,818$4,170$3,598$3,095$2,657$1,634
15 years$4,450$3,809$3,248$2,761$2,339$1,379
16 years$4,129$3,495$2,945$2,472$2,067$1,168
17 years$3,846$3,219$2,680$2,221$1,833$991
18 years$3,594$2,974$2,446$2,001$1,630$843
19 years$3,370$2,757$2,240$1,809$1,453$718
20 years$3,168$2,562$2,055$1,638$1,298$613
21 years$2,985$2,386$1,891$1,487$1,161$524
22 years$2,819$2,227$1,742$1,352$1,041$448
23 years$2,668$2,083$1,609$1,231$934$383
24 years$2,530$1,952$1,488$1,123$840$328
25 years$2,403$1,832$1,378$1,025$756$282
26 years$2,286$1,721$1,278$937$681$242
27 years$2,178$1,620$1,187$858$614$207
28 years$2,077$1,527$1,103$786$554$178
29 years$1,984$1,440$1,027$721$500$153
30 years$1,897$1,360$956$662$452$131
31 years$1,816$1,286$892$608$408$113
32 years$1,740$1,217$832$558$369$97
33 years$1,669$1,152$777$514$334$83
34 years$1,602$1,092$726$473$303$72
35 years$1,539$1,036$679$435$274$62
36 years$1,480$983$635$401$248$53
37 years$1,424$934$594$369$225$46
38 years$1,372$887$556$340$204$39
39 years$1,322$844$521$314$185$34
40 years$1,274$803$489$289$168$29
41 years$1,229$764$458$267$152$25
42 years$1,187$728$430$246$138$21
43 years$1,146$693$403$227$125$18
44 years$1,107$661$379$210$114$16
45 years$1,071$630$355$194$103$14
46 years$1,035$601$334$179$94$12
47 years$1,002$574$314$166$85$10
48 years$970$548$295$153$77$9
49 years$939$523$277$141$70$7
50 years$910$500$260$131$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $932,000, adding $5,407 every year, while hoping to spend $54,955 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: 31/40/29 Blend
61$932,000$932,000$932,000$932,000
62$1,032,641$983,245$968,799$1,055,364
63$1,079,499$972,953$942,782$1,063,158
64$1,129,294$960,314$914,052$1,066,368
65$1,182,269$945,156$882,459$1,068,751
66$1,238,687$927,295$847,849$1,070,277
67$1,298,839$906,538$810,057$1,070,912
68$1,363,041$882,679$768,914$1,070,630
69$1,431,640$855,499$724,242$1,069,402
70$1,505,018$824,770$675,855$1,067,209
71$1,583,593$790,246$623,559$1,064,030
72$1,667,821$751,670$567,150$1,059,855
73$1,758,206$708,769$506,416$1,054,677
74$1,855,298$661,254$441,137$1,048,496
75$1,959,703$608,820$371,080$1,041,322
76$2,072,086$551,145$296,003$1,033,175
77$2,193,174$487,887$215,655$1,024,085
78$2,323,771$418,686$129,772$1,014,095
79$2,464,755$343,161$38,079$1,003,265
80$2,617,094$260,910$0$991,670
81$2,781,852$171,509$0$997,901
82$2,960,196$74,508$0$1,017,357
83$3,153,411$0$0$1,038,481
84$3,362,908$0$0$1,074,999
85$3,590,242$0$0$1,150,335
86$3,837,120$0$0$1,232,275
87$4,105,421$0$0$1,321,457
88$4,397,211$0$0$1,418,585
89$4,714,764$0$0$1,524,435
90$5,060,583$0$0$1,639,857
91$5,437,419$0$0$1,765,791
92$5,848,304$0$0$1,903,267
93$6,296,572$0$0$2,053,424
94$6,785,892$0$0$2,217,511
95$7,320,306$0$0$2,396,906
96$7,904,262$0$0$2,593,125
97$8,542,655$0$0$2,807,838
98$9,240,877$0$0$3,042,884
99$10,004,864$0$0$3,300,287
100$10,841,153$0$0$3,582,276