Can I retire at age 62 with 935,000?

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 $935,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$77,211$76,524$75,853$75,198$74,558$72,404
2 years$38,223$37,512$36,822$36,153$35,504$33,350
3 years$25,229$24,514$23,826$23,163$22,525$20,440
4 years$18,733$18,021$17,339$16,688$16,065$14,065
5 years$14,837$14,128$13,456$12,818$12,212$10,302
6 years$12,240$11,537$10,874$10,251$9,663$7,844
7 years$10,386$9,689$9,037$8,428$7,859$6,132
8 years$8,996$8,305$7,664$7,070$6,520$4,883
9 years$7,915$7,231$6,601$6,022$5,491$3,943
10 years$7,051$6,374$5,755$5,191$4,678$3,217
11 years$6,345$5,674$5,066$4,518$4,023$2,647
12 years$5,757$5,093$4,496$3,963$3,487$2,192
13 years$5,260$4,602$4,017$3,498$3,040$1,825
14 years$4,834$4,183$3,609$3,105$2,665$1,526
15 years$4,465$3,822$3,259$2,769$2,347$1,280
16 years$4,142$3,506$2,955$2,480$2,074$1,077
17 years$3,858$3,229$2,689$2,228$1,839$908
18 years$3,606$2,984$2,454$2,008$1,635$767
19 years$3,380$2,765$2,247$1,814$1,457$649
20 years$3,178$2,570$2,062$1,643$1,302$550
21 years$2,995$2,394$1,897$1,491$1,165$467
22 years$2,828$2,234$1,748$1,356$1,044$396
23 years$2,677$2,090$1,614$1,235$937$337
24 years$2,538$1,958$1,493$1,126$842$287
25 years$2,411$1,837$1,383$1,029$758$244
26 years$2,293$1,727$1,282$941$683$208
27 years$2,185$1,625$1,191$861$616$177
28 years$2,084$1,531$1,107$789$556$151
29 years$1,990$1,445$1,030$723$502$129
30 years$1,903$1,364$959$664$453$110
31 years$1,822$1,290$894$610$410$93
32 years$1,746$1,220$835$560$371$80
33 years$1,674$1,156$779$515$335$68
34 years$1,607$1,095$728$474$304$58
35 years$1,544$1,039$681$436$275$50
36 years$1,485$986$637$402$249$42
37 years$1,429$937$596$370$226$36
38 years$1,376$890$558$341$205$31
39 years$1,326$846$523$315$186$26
40 years$1,278$805$490$290$168$22
41 years$1,233$767$460$268$153$19
42 years$1,190$730$431$247$139$16
43 years$1,150$696$405$228$126$14
44 years$1,111$663$380$211$114$12
45 years$1,074$632$357$195$104$10
46 years$1,039$603$335$180$94$9
47 years$1,005$576$315$166$86$7
48 years$973$549$296$153$78$6
49 years$942$525$278$142$71$5
50 years$913$501$261$131$64$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $935,000, adding $2,193 every year, while hoping to spend $47,067 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: 66/24/10 Blend
61$935,000$935,000$935,000$935,000
62$1,032,632$983,077$968,585$1,098,470
63$1,087,882$981,169$950,953$1,140,666
64$1,147,189$977,590$931,154$1,180,984
65$1,210,919$972,208$909,064$1,223,833
66$1,279,471$964,884$884,555$1,269,453
67$1,353,283$955,470$857,495$1,318,114
68$1,432,839$943,809$827,742$1,370,113
69$1,518,667$929,735$795,150$1,425,778
70$1,611,350$913,070$759,566$1,485,472
71$1,711,526$893,629$720,830$1,549,596
72$1,819,899$871,214$678,775$1,618,594
73$1,937,240$845,615$633,225$1,692,958
74$2,064,399$816,611$583,999$1,773,231
75$2,202,309$783,966$530,904$1,860,013
76$2,351,998$747,433$473,742$1,953,968
77$2,514,594$706,750$412,305$2,055,830
78$2,691,339$661,637$346,374$2,166,410
79$2,883,601$611,802$275,722$2,286,604
80$3,092,882$556,935$200,113$2,417,404
81$3,320,837$496,706$119,298$2,559,905
82$3,569,287$430,769$33,019$2,715,318
83$3,840,235$358,757$0$2,884,979
84$4,135,886$280,284$0$3,076,667
85$4,458,668$194,939$0$3,289,884
86$4,811,253$102,292$0$3,522,936
87$5,196,583$1,886$0$3,777,848
88$5,617,895$0$0$4,056,854
89$6,078,756$0$0$4,390,616
90$6,583,091$0$0$4,756,466
91$7,135,225$0$0$5,157,049
92$7,739,916$0$0$5,595,829
93$8,402,409$0$0$6,076,615
94$9,128,475$0$0$6,603,607
95$9,924,475$0$0$7,181,429
96$10,797,411$0$0$7,815,172
97$11,754,997$0$0$8,510,446
98$12,805,728$0$0$9,273,430
99$13,958,963$0$0$10,110,927
100$15,225,010$0$0$11,030,434