Can I retire at age 62 with 938,000?

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 $938,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.1%
1 years$77,459$76,769$76,096$75,439$74,797$73,227
2 years$38,346$37,632$36,940$36,269$35,618$34,043
3 years$25,310$24,593$23,903$23,238$22,597$21,068
4 years$18,793$18,078$17,395$16,741$16,117$14,644
5 years$14,884$14,174$13,499$12,859$12,252$10,839
6 years$12,279$11,574$10,909$10,283$9,694$8,344
7 years$10,419$9,720$9,066$8,455$7,884$6,596
8 years$9,025$8,332$7,688$7,092$6,541$5,315
9 years$7,941$7,254$6,622$6,041$5,508$4,344
10 years$7,074$6,394$5,773$5,208$4,693$3,589
11 years$6,365$5,692$5,083$4,532$4,036$2,991
12 years$5,775$5,109$4,511$3,975$3,498$2,509
13 years$5,276$4,617$4,030$3,510$3,050$2,117
14 years$4,849$4,197$3,621$3,115$2,674$1,794
15 years$4,479$3,834$3,269$2,778$2,354$1,526
16 years$4,156$3,518$2,964$2,488$2,081$1,303
17 years$3,871$3,240$2,697$2,235$1,845$1,114
18 years$3,618$2,993$2,462$2,014$1,640$956
19 years$3,391$2,774$2,254$1,820$1,462$821
20 years$3,188$2,578$2,069$1,649$1,306$706
21 years$3,004$2,401$1,903$1,496$1,169$609
22 years$2,837$2,242$1,754$1,360$1,048$525
23 years$2,685$2,096$1,619$1,239$940$453
24 years$2,546$1,964$1,497$1,130$845$392
25 years$2,418$1,843$1,387$1,032$761$339
26 years$2,300$1,732$1,286$944$685$293
27 years$2,192$1,630$1,194$864$618$254
28 years$2,091$1,536$1,110$791$557$220
29 years$1,997$1,449$1,033$726$503$190
30 years$1,909$1,369$963$666$455$165
31 years$1,828$1,294$897$612$411$143
32 years$1,751$1,224$837$562$372$124
33 years$1,680$1,159$782$517$337$108
34 years$1,613$1,099$730$476$305$93
35 years$1,549$1,042$683$438$276$81
36 years$1,490$989$639$403$250$70
37 years$1,434$940$598$371$227$61
38 years$1,380$893$560$342$205$53
39 years$1,330$849$525$316$186$46
40 years$1,282$808$492$291$169$40
41 years$1,237$769$461$269$153$35
42 years$1,194$732$432$248$139$30
43 years$1,153$698$406$229$126$26
44 years$1,114$665$381$211$115$23
45 years$1,077$634$358$195$104$20
46 years$1,042$605$336$180$94$17
47 years$1,008$577$316$167$86$15
48 years$976$551$297$154$78$13
49 years$945$526$279$142$71$11
50 years$916$503$262$131$64$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $938,000, adding $6,908 every year, while hoping to spend $36,989 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: 33/38/29 Blend
61$938,000$938,000$938,000$938,000
62$1,040,802$991,088$976,549$1,065,810
63$1,107,607$1,000,295$969,907$1,094,666
64$1,179,988$1,008,714$961,803$1,121,991
65$1,258,472$1,016,266$952,149$1,150,729
66$1,343,642$1,022,870$940,853$1,181,031
67$1,436,140$1,028,436$927,817$1,213,065
68$1,536,668$1,032,872$912,941$1,247,020
69$1,646,003$1,036,077$896,119$1,283,106
70$1,764,997$1,037,947$877,241$1,321,559
71$1,894,588$1,038,367$856,190$1,362,640
72$2,035,809$1,037,220$832,844$1,406,640
73$2,189,794$1,034,377$807,078$1,453,884
74$2,357,796$1,029,704$778,758$1,504,734
75$2,541,191$1,023,059$747,746$1,559,592
76$2,741,493$1,014,289$713,896$1,618,904
77$2,960,371$1,003,235$677,057$1,683,168
78$3,199,660$989,725$637,070$1,752,937
79$3,461,383$973,579$593,769$1,828,823
80$3,747,765$954,605$546,981$1,911,509
81$4,061,257$932,602$496,526$2,001,751
82$4,404,560$907,353$442,214$2,100,388
83$4,780,645$878,633$383,847$2,208,352
84$5,192,785$846,200$321,221$2,326,675
85$5,644,585$809,801$254,118$2,456,503
86$6,140,016$769,165$182,315$2,599,104
87$6,683,452$724,008$105,576$2,755,887
88$7,279,708$674,028$23,657$2,928,408
89$7,934,091$618,908$0$3,118,394
90$8,652,444$558,310$0$3,347,487
91$9,441,204$491,879$0$3,607,166
92$10,307,464$419,238$0$3,892,531
93$11,259,035$339,990$0$4,206,266
94$12,304,523$253,716$0$4,551,330
95$13,453,409$159,972$0$4,930,995
96$14,716,136$58,290$0$5,348,870
97$16,104,211$0$0$5,808,944
98$17,630,312$0$0$6,337,287
99$19,308,404$0$0$6,945,206
100$21,153,875$0$0$7,613,921