Can I retire at age 62 with 935,000?

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 $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%19.9%
1 years$77,211$76,524$75,853$75,198$74,558$71,600
2 years$38,223$37,512$36,822$36,153$35,504$32,560
3 years$25,229$24,514$23,826$23,163$22,525$19,689
4 years$18,733$18,021$17,339$16,688$16,065$13,358
5 years$14,837$14,128$13,456$12,818$12,212$9,641
6 years$12,240$11,537$10,874$10,251$9,663$7,229
7 years$10,386$9,689$9,037$8,428$7,859$5,561
8 years$8,996$8,305$7,664$7,070$6,520$4,356
9 years$7,915$7,231$6,601$6,022$5,491$3,457
10 years$7,051$6,374$5,755$5,191$4,678$2,772
11 years$6,345$5,674$5,066$4,518$4,023$2,240
12 years$5,757$5,093$4,496$3,963$3,487$1,820
13 years$5,260$4,602$4,017$3,498$3,040$1,487
14 years$4,834$4,183$3,609$3,105$2,665$1,219
15 years$4,465$3,822$3,259$2,769$2,347$1,002
16 years$4,142$3,506$2,955$2,480$2,074$826
17 years$3,858$3,229$2,689$2,228$1,839$683
18 years$3,606$2,984$2,454$2,008$1,635$565
19 years$3,380$2,765$2,247$1,814$1,457$468
20 years$3,178$2,570$2,062$1,643$1,302$388
21 years$2,995$2,394$1,897$1,491$1,165$322
22 years$2,828$2,234$1,748$1,356$1,044$268
23 years$2,677$2,090$1,614$1,235$937$223
24 years$2,538$1,958$1,493$1,126$842$185
25 years$2,411$1,837$1,383$1,029$758$154
26 years$2,293$1,727$1,282$941$683$128
27 years$2,185$1,625$1,191$861$616$107
28 years$2,084$1,531$1,107$789$556$89
29 years$1,990$1,445$1,030$723$502$74
30 years$1,903$1,364$959$664$453$62
31 years$1,822$1,290$894$610$410$52
32 years$1,746$1,220$835$560$371$43
33 years$1,674$1,156$779$515$335$36
34 years$1,607$1,095$728$474$304$30
35 years$1,544$1,039$681$436$275$25
36 years$1,485$986$637$402$249$21
37 years$1,429$937$596$370$226$17
38 years$1,376$890$558$341$205$14
39 years$1,326$846$523$315$186$12
40 years$1,278$805$490$290$168$10
41 years$1,233$767$460$268$153$8
42 years$1,190$730$431$247$139$7
43 years$1,150$696$405$228$126$6
44 years$1,111$663$380$211$114$5
45 years$1,074$632$357$195$104$4
46 years$1,039$603$335$180$94$3
47 years$1,005$576$315$166$86$3
48 years$973$549$296$153$78$2
49 years$942$525$278$142$71$2
50 years$913$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 $935,000, adding $5,426 every year, while hoping to spend $35,516 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: 70/16/14 Blend
61$935,000$935,000$935,000$935,000
62$1,035,967$986,412$971,919$1,104,862
63$1,103,847$996,957$966,690$1,161,879
64$1,177,460$1,006,829$960,095$1,219,467
65$1,257,354$1,015,957$952,051$1,281,568
66$1,344,131$1,024,265$942,471$1,348,622
67$1,438,452$1,031,674$931,264$1,421,113
68$1,541,047$1,038,099$918,334$1,499,576
69$1,652,716$1,043,448$903,581$1,584,597
70$1,774,342$1,047,626$886,900$1,676,827
71$1,906,895$1,050,530$868,181$1,776,981
72$2,051,442$1,052,050$847,309$1,885,848
73$2,209,160$1,052,071$824,165$2,004,299
74$2,381,342$1,050,470$798,621$2,133,291
75$2,569,412$1,047,116$770,548$2,273,884
76$2,774,938$1,041,871$739,808$2,427,244
77$2,999,646$1,034,587$706,256$2,594,656
78$3,245,437$1,025,109$669,743$2,777,540
79$3,514,403$1,013,271$630,111$2,977,458
80$3,808,849$998,898$587,196$3,196,136
81$4,131,311$981,803$540,827$3,435,474
82$4,484,585$961,791$490,824$3,697,570
83$4,871,746$938,653$437,000$3,984,735
84$5,296,184$912,167$379,160$4,299,519
85$5,761,632$882,100$317,099$4,644,731
86$6,272,201$848,206$250,604$5,023,471
87$6,832,418$810,221$179,452$5,439,156
88$7,447,272$767,869$103,411$5,895,554
89$8,122,256$720,857$22,238$6,396,819
90$8,863,423$668,875$0$6,947,529
91$9,677,439$611,596$0$7,562,355
92$10,571,647$548,674$0$8,241,414
93$11,554,139$479,743$0$8,987,561
94$12,633,827$404,416$0$9,807,606
95$13,820,529$322,285$0$10,709,054
96$15,125,064$232,917$0$11,700,178
97$16,559,349$135,859$0$12,790,093
98$18,136,514$30,627$0$13,988,849
99$19,871,025$0$0$15,307,518
100$21,778,821$0$0$16,772,968