Can I retire at age 62 with 937,000?

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 $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%14.8%
1 years$77,377$76,687$76,015$75,359$74,718$73,239
2 years$38,305$37,592$36,900$36,230$35,580$34,096
3 years$25,283$24,567$23,877$23,213$22,573$21,131
4 years$18,773$18,059$17,376$16,724$16,099$14,710
5 years$14,869$14,159$13,485$12,845$12,239$10,906
6 years$12,266$11,562$10,898$10,273$9,684$8,409
7 years$10,408$9,709$9,056$8,446$7,876$6,659
8 years$9,015$8,323$7,680$7,085$6,534$5,375
9 years$7,932$7,246$6,615$6,035$5,502$4,401
10 years$7,067$6,387$5,767$5,202$4,688$3,643
11 years$6,359$5,686$5,077$4,527$4,032$3,041
12 years$5,769$5,104$4,506$3,971$3,494$2,557
13 years$5,271$4,612$4,026$3,506$3,047$2,161
14 years$4,844$4,192$3,617$3,112$2,671$1,836
15 years$4,474$3,830$3,266$2,775$2,352$1,565
16 years$4,151$3,514$2,961$2,485$2,078$1,338
17 years$3,866$3,236$2,694$2,233$1,843$1,147
18 years$3,614$2,990$2,460$2,012$1,639$986
19 years$3,388$2,771$2,252$1,818$1,460$849
20 years$3,185$2,575$2,066$1,647$1,305$732
21 years$3,001$2,399$1,901$1,495$1,167$632
22 years$2,834$2,239$1,752$1,359$1,046$547
23 years$2,682$2,094$1,617$1,238$939$473
24 years$2,543$1,962$1,496$1,129$844$410
25 years$2,416$1,841$1,386$1,031$760$355
26 years$2,298$1,731$1,285$943$684$308
27 years$2,189$1,629$1,193$863$617$267
28 years$2,088$1,535$1,109$790$557$232
29 years$1,995$1,448$1,032$725$503$202
30 years$1,907$1,367$962$665$454$175
31 years$1,826$1,293$896$611$411$152
32 years$1,750$1,223$836$561$371$132
33 years$1,678$1,158$781$516$336$115
34 years$1,611$1,098$730$475$304$100
35 years$1,548$1,041$682$437$276$87
36 years$1,488$988$638$403$250$76
37 years$1,432$939$597$371$226$66
38 years$1,379$892$559$342$205$57
39 years$1,329$848$524$315$186$50
40 years$1,281$807$491$291$169$44
41 years$1,236$768$461$268$153$38
42 years$1,193$732$432$248$139$33
43 years$1,152$697$405$229$126$29
44 years$1,113$664$381$211$114$25
45 years$1,076$634$357$195$104$22
46 years$1,041$604$336$180$94$19
47 years$1,007$577$315$166$86$17
48 years$975$551$296$154$78$14
49 years$944$526$278$142$71$13
50 years$915$502$262$131$64$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $937,000, adding $5,595 every year, while hoping to spend $51,119 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: 68/18/14 Blend
61$937,000$937,000$937,000$937,000
62$1,038,345$988,684$974,161$1,105,251
63$1,089,866$982,740$952,405$1,144,574
64$1,144,929$974,790$928,207$1,180,976
65$1,203,841$964,684$901,431$1,219,486
66$1,266,939$952,260$871,935$1,260,306
67$1,334,593$937,347$839,571$1,303,661
68$1,407,208$919,763$804,183$1,349,795
69$1,485,229$899,317$765,609$1,398,985
70$1,569,144$875,806$723,679$1,451,533
71$1,659,490$849,013$678,215$1,507,774
72$1,756,855$818,713$629,033$1,568,080
73$1,861,887$784,662$575,938$1,632,862
74$1,975,296$746,607$518,729$1,702,577
75$2,097,863$704,277$457,192$1,777,727
76$2,230,445$657,387$391,109$1,858,869
77$2,373,987$605,636$320,248$1,946,622
78$2,529,526$548,704$244,368$2,041,666
79$2,698,201$486,254$163,218$2,144,758
80$2,881,267$417,930$76,535$2,256,730
81$3,080,103$343,355$0$2,378,507
82$3,296,226$262,132$0$2,513,494
83$3,531,305$173,841$0$2,672,791
84$3,787,177$78,037$0$2,846,244
85$4,065,861$0$0$3,035,280
86$4,369,581$0$0$3,246,569
87$4,700,784$0$0$3,493,883
88$5,062,164$0$0$3,763,782
89$5,456,684$0$0$4,058,488
90$5,887,608$0$0$4,380,443
91$6,358,528$0$0$4,732,339
92$6,873,398$0$0$5,117,139
93$7,436,574$0$0$5,538,105
94$8,052,850$0$0$5,998,829
95$8,727,505$0$0$6,503,265
96$9,466,352$0$0$7,055,769
97$10,275,794$0$0$7,661,138
98$11,162,882$0$0$8,324,653
99$12,135,379$0$0$9,052,132
100$13,201,838$0$0$9,849,982