Can I retire at age 62 with 937,000?

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 $937,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.9%
1 years$77,377$76,687$76,015$75,359$74,718$72,911
2 years$38,305$37,592$36,900$36,230$35,580$33,771
3 years$25,283$24,567$23,877$23,213$22,573$20,818
4 years$18,773$18,059$17,376$16,724$16,099$14,412
5 years$14,869$14,159$13,485$12,845$12,239$10,623
6 years$12,266$11,562$10,898$10,273$9,684$8,142
7 years$10,408$9,709$9,056$8,446$7,876$6,408
8 years$9,015$8,323$7,680$7,085$6,534$5,139
9 years$7,932$7,246$6,615$6,035$5,502$4,180
10 years$7,067$6,387$5,767$5,202$4,688$3,436
11 years$6,359$5,686$5,077$4,527$4,032$2,849
12 years$5,769$5,104$4,506$3,971$3,494$2,378
13 years$5,271$4,612$4,026$3,506$3,047$1,996
14 years$4,844$4,192$3,617$3,112$2,671$1,682
15 years$4,474$3,830$3,266$2,775$2,352$1,423
16 years$4,151$3,514$2,961$2,485$2,078$1,208
17 years$3,866$3,236$2,694$2,233$1,843$1,027
18 years$3,614$2,990$2,460$2,012$1,639$876
19 years$3,388$2,771$2,252$1,818$1,460$748
20 years$3,185$2,575$2,066$1,647$1,305$640
21 years$3,001$2,399$1,901$1,495$1,167$548
22 years$2,834$2,239$1,752$1,359$1,046$469
23 years$2,682$2,094$1,617$1,238$939$403
24 years$2,543$1,962$1,496$1,129$844$346
25 years$2,416$1,841$1,386$1,031$760$297
26 years$2,298$1,731$1,285$943$684$256
27 years$2,189$1,629$1,193$863$617$220
28 years$2,088$1,535$1,109$790$557$189
29 years$1,995$1,448$1,032$725$503$163
30 years$1,907$1,367$962$665$454$140
31 years$1,826$1,293$896$611$411$121
32 years$1,750$1,223$836$561$371$104
33 years$1,678$1,158$781$516$336$90
34 years$1,611$1,098$730$475$304$77
35 years$1,548$1,041$682$437$276$67
36 years$1,488$988$638$403$250$57
37 years$1,432$939$597$371$226$50
38 years$1,379$892$559$342$205$43
39 years$1,329$848$524$315$186$37
40 years$1,281$807$491$291$169$32
41 years$1,236$768$461$268$153$27
42 years$1,193$732$432$248$139$24
43 years$1,152$697$405$229$126$20
44 years$1,113$664$381$211$114$18
45 years$1,076$634$357$195$104$15
46 years$1,041$604$336$180$94$13
47 years$1,007$577$315$166$86$11
48 years$975$551$296$154$78$10
49 years$944$526$278$142$71$8
50 years$915$502$262$131$64$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $937,000, adding $3,422 every year, while hoping to spend $41,233 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: 75/5/20 Blend
61$937,000$937,000$937,000$937,000
62$1,036,104$986,443$971,919$1,108,672
63$1,097,915$990,907$960,607$1,161,715
64$1,164,649$994,208$947,534$1,214,459
65$1,236,764$996,245$932,597$1,271,204
66$1,314,764$996,912$915,690$1,332,338
67$1,399,204$996,094$896,699$1,398,289
68$1,490,692$993,672$875,508$1,469,531
69$1,589,898$989,518$851,993$1,546,584
70$1,697,559$983,495$826,026$1,630,025
71$1,814,484$975,460$797,472$1,720,487
72$1,941,564$965,261$766,190$1,818,670
73$2,079,780$952,734$732,033$1,925,344
74$2,230,209$937,710$694,848$2,041,361
75$2,394,038$920,005$654,473$2,167,658
76$2,572,572$899,428$610,740$2,305,270
77$2,767,249$875,775$563,475$2,455,337
78$2,979,650$848,829$512,492$2,619,117
79$3,211,514$818,362$457,601$2,797,998
80$3,464,759$784,132$398,602$2,993,509
81$3,741,494$745,884$335,284$3,207,337
82$4,044,041$703,346$267,430$3,441,342
83$4,374,956$656,233$194,812$3,697,575
84$4,737,055$604,242$117,191$3,978,299
85$5,133,437$547,053$34,320$4,286,007
86$5,567,516$484,327$0$4,623,449
87$6,043,051$415,707$0$5,005,206
88$6,564,181$340,816$0$5,431,640
89$7,135,466$259,254$0$5,899,166
90$7,761,927$170,601$0$6,411,911
91$8,449,094$74,411$0$6,974,423
92$9,203,059$0$0$7,591,712
93$10,030,531$0$0$8,270,934
94$10,938,901$0$0$9,021,094
95$11,936,311$0$0$9,844,826
96$13,031,728$0$0$10,749,541
97$14,235,032$0$0$11,743,405
98$15,557,106$0$0$12,835,411
99$17,009,940$0$0$14,035,468
100$18,606,742$0$0$15,354,492