Can I retire at age 62 with 932,000?

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 $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%13.2%
1 years$76,964$76,278$75,609$74,956$74,319$73,330
2 years$38,101$37,391$36,704$36,037$35,390$34,395
3 years$25,148$24,436$23,750$23,089$22,453$21,483
4 years$18,673$17,963$17,284$16,634$16,014$15,076
5 years$14,789$14,083$13,413$12,777$12,173$11,271
6 years$12,201$11,500$10,840$10,218$9,632$8,766
7 years$10,353$9,658$9,008$8,401$7,834$7,004
8 years$8,967$8,278$7,639$7,047$6,499$5,706
9 years$7,890$7,208$6,580$6,002$5,473$4,717
10 years$7,029$6,353$5,736$5,174$4,663$3,943
11 years$6,325$5,656$5,050$4,503$4,010$3,325
12 years$5,738$5,076$4,482$3,950$3,475$2,824
13 years$5,243$4,588$4,004$3,487$3,031$2,413
14 years$4,818$4,170$3,598$3,095$2,657$2,071
15 years$4,450$3,809$3,248$2,761$2,339$1,785
16 years$4,129$3,495$2,945$2,472$2,067$1,544
17 years$3,846$3,219$2,680$2,221$1,833$1,339
18 years$3,594$2,974$2,446$2,001$1,630$1,164
19 years$3,370$2,757$2,240$1,809$1,453$1,014
20 years$3,168$2,562$2,055$1,638$1,298$885
21 years$2,985$2,386$1,891$1,487$1,161$774
22 years$2,819$2,227$1,742$1,352$1,041$677
23 years$2,668$2,083$1,609$1,231$934$593
24 years$2,530$1,952$1,488$1,123$840$520
25 years$2,403$1,832$1,378$1,025$756$457
26 years$2,286$1,721$1,278$937$681$401
27 years$2,178$1,620$1,187$858$614$353
28 years$2,077$1,527$1,103$786$554$310
29 years$1,984$1,440$1,027$721$500$273
30 years$1,897$1,360$956$662$452$241
31 years$1,816$1,286$892$608$408$212
32 years$1,740$1,217$832$558$369$187
33 years$1,669$1,152$777$514$334$165
34 years$1,602$1,092$726$473$303$145
35 years$1,539$1,036$679$435$274$128
36 years$1,480$983$635$401$248$113
37 years$1,424$934$594$369$225$100
38 years$1,372$887$556$340$204$88
39 years$1,322$844$521$314$185$78
40 years$1,274$803$489$289$168$68
41 years$1,229$764$458$267$152$60
42 years$1,187$728$430$246$138$53
43 years$1,146$693$403$227$125$47
44 years$1,107$661$379$210$114$42
45 years$1,071$630$355$194$103$37
46 years$1,035$601$334$179$94$32
47 years$1,002$574$314$166$85$29
48 years$970$548$295$153$77$25
49 years$939$523$277$141$70$22
50 years$910$500$260$131$64$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $932,000, adding $2,516 every year, while hoping to spend $31,399 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: 73/6/21 Blend
61$932,000$932,000$932,000$932,000
62$1,029,659$980,263$965,817$1,099,414
63$1,101,276$994,888$964,764$1,160,759
64$1,179,146$1,009,177$962,623$1,223,926
65$1,263,872$1,023,080$959,324$1,292,336
66$1,356,122$1,036,545$954,796$1,366,506
67$1,456,625$1,049,515$948,961$1,447,004
68$1,566,189$1,061,929$941,739$1,534,458
69$1,685,699$1,073,723$933,046$1,629,559
70$1,816,131$1,084,826$922,794$1,733,067
71$1,958,561$1,095,167$910,892$1,845,824
72$2,114,169$1,104,665$897,242$1,968,754
73$2,284,258$1,113,237$881,743$2,102,877
74$2,470,261$1,120,795$864,290$2,249,318
75$2,673,756$1,127,242$844,773$2,409,317
76$2,896,481$1,132,479$823,075$2,584,239
77$3,140,349$1,136,398$799,074$2,775,592
78$3,407,467$1,138,883$772,646$2,985,035
79$3,700,156$1,139,815$743,656$3,214,400
80$4,020,970$1,139,064$711,966$3,465,703
81$4,372,724$1,136,493$677,432$3,741,168
82$4,758,517$1,131,958$639,902$4,043,249
83$5,181,765$1,125,302$599,218$4,374,646
84$5,646,227$1,116,364$555,214$4,738,339
85$6,156,046$1,104,970$507,717$5,137,613
86$6,715,784$1,090,935$456,547$5,576,087
87$7,330,468$1,074,065$401,516$6,057,751
88$8,005,635$1,054,153$342,425$6,587,005
89$8,747,383$1,030,980$279,070$7,168,696
90$9,562,433$1,004,315$211,236$7,808,169
91$10,458,187$973,911$138,698$8,511,315
92$11,442,799$939,511$61,221$9,284,628
93$12,525,256$900,837$0$10,135,266
94$13,715,454$857,601$0$11,075,925
95$15,024,300$809,493$0$12,125,447
96$16,463,810$756,189$0$13,279,743
97$18,047,221$697,345$0$14,549,442
98$19,789,119$632,596$0$15,946,253
99$21,705,574$561,559$0$17,483,081
100$23,814,294$483,827$0$19,174,143