Can I retire at age 62 with 934,000?

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 $934,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$77,129$76,442$75,772$75,117$74,478$71,836
2 years$38,183$37,471$36,782$36,114$35,466$32,832
3 years$25,202$24,488$23,801$23,139$22,501$19,958
4 years$18,713$18,001$17,321$16,670$16,048$13,616
5 years$14,821$14,113$13,442$12,804$12,199$9,884
6 years$12,227$11,525$10,863$10,240$9,653$7,456
7 years$10,375$9,678$9,027$8,419$7,850$5,772
8 years$8,986$8,296$7,656$7,062$6,513$4,551
9 years$7,907$7,223$6,594$6,015$5,485$3,637
10 years$7,044$6,367$5,749$5,185$4,673$2,936
11 years$6,338$5,668$5,061$4,513$4,019$2,389
12 years$5,751$5,087$4,492$3,958$3,483$1,956
13 years$5,254$4,597$4,013$3,495$3,037$1,610
14 years$4,828$4,179$3,606$3,102$2,662$1,330
15 years$4,460$3,818$3,255$2,767$2,344$1,102
16 years$4,138$3,503$2,951$2,477$2,072$916
17 years$3,854$3,226$2,686$2,226$1,837$763
18 years$3,602$2,981$2,452$2,006$1,633$637
19 years$3,377$2,763$2,244$1,812$1,456$532
20 years$3,174$2,567$2,060$1,641$1,300$445
21 years$2,991$2,391$1,895$1,490$1,164$373
22 years$2,825$2,232$1,746$1,355$1,043$312
23 years$2,674$2,088$1,612$1,234$936$262
24 years$2,535$1,956$1,491$1,125$842$220
25 years$2,408$1,836$1,381$1,028$757$184
26 years$2,291$1,725$1,281$940$682$155
27 years$2,182$1,624$1,189$860$615$130
28 years$2,082$1,530$1,106$788$555$109
29 years$1,988$1,443$1,029$723$501$92
30 years$1,901$1,363$958$663$453$77
31 years$1,820$1,288$894$609$409$65
32 years$1,744$1,219$834$560$370$55
33 years$1,673$1,155$778$515$335$46
34 years$1,606$1,094$727$474$303$39
35 years$1,543$1,038$680$436$275$33
36 years$1,483$985$636$401$249$27
37 years$1,427$936$595$370$226$23
38 years$1,374$889$558$341$205$19
39 years$1,324$846$522$314$186$16
40 years$1,277$804$490$290$168$14
41 years$1,232$766$459$268$153$12
42 years$1,189$729$431$247$139$10
43 years$1,148$695$404$228$126$8
44 years$1,110$662$379$210$114$7
45 years$1,073$632$356$194$104$6
46 years$1,038$603$335$180$94$5
47 years$1,004$575$314$166$85$4
48 years$972$549$295$153$78$3
49 years$941$524$278$142$70$3
50 years$912$501$261$131$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $934,000, adding $6,409 every year, while hoping to spend $47,224 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: 69/6/25 Blend
61$934,000$934,000$934,000$934,000
62$1,035,879$986,377$971,900$1,100,319
63$1,091,293$984,463$954,213$1,142,409
64$1,150,776$980,873$934,350$1,182,410
65$1,214,693$975,475$912,189$1,225,079
66$1,283,447$968,128$887,602$1,270,681
67$1,357,476$958,684$860,455$1,319,504
68$1,437,264$946,985$830,606$1,371,871
69$1,523,343$932,865$797,908$1,428,138
70$1,616,295$916,146$762,209$1,488,697
71$1,716,762$896,642$723,348$1,553,982
72$1,825,447$874,153$681,156$1,624,473
73$1,943,127$848,471$635,459$1,700,701
74$2,070,651$819,371$586,072$1,783,253
75$2,208,957$786,620$532,805$1,872,775
76$2,359,073$749,967$475,457$1,969,984
77$2,522,133$709,149$413,819$2,075,670
78$2,699,381$663,889$347,672$2,190,707
79$2,892,189$613,890$276,790$2,316,058
80$3,102,063$558,841$200,933$2,452,791
81$3,330,662$498,414$119,854$2,602,080
82$3,579,813$432,259$33,292$2,765,226
83$3,851,524$360,010$0$2,943,664
84$4,148,007$281,277$0$3,154,738
85$4,471,695$195,651$0$3,394,938
86$4,825,268$102,698$0$3,657,384
87$5,211,675$1,960$0$3,944,289
88$5,634,164$0$0$4,258,092
89$6,096,310$0$0$4,608,546
90$6,602,050$0$0$4,992,251
91$7,155,719$0$0$5,412,374
92$7,762,091$0$0$5,872,543
93$8,426,421$0$0$6,376,754
94$9,154,501$0$0$6,929,409
95$9,952,704$0$0$7,535,356
96$10,828,055$0$0$8,199,931
97$11,788,287$0$0$8,929,017
98$12,841,919$0$0$9,729,089
99$13,998,335$0$0$10,607,282
100$15,267,872$0$0$11,571,454