Can I retire at age 62 with 939,000?

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 $939,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$77,542$76,851$76,177$75,519$74,877$74,562
2 years$38,387$37,672$36,979$36,307$35,656$35,337
3 years$25,337$24,619$23,928$23,263$22,622$22,310
4 years$18,813$18,098$17,413$16,759$16,134$15,831
5 years$14,900$14,189$13,514$12,873$12,265$11,972
6 years$12,292$11,586$10,921$10,294$9,705$9,423
7 years$10,430$9,730$9,075$8,464$7,892$7,621
8 years$9,034$8,340$7,697$7,100$6,548$6,287
9 years$7,949$7,262$6,629$6,048$5,514$5,264
10 years$7,082$6,401$5,779$5,213$4,698$4,459
11 years$6,372$5,698$5,088$4,537$4,041$3,812
12 years$5,781$5,115$4,516$3,979$3,502$3,283
13 years$5,282$4,622$4,034$3,513$3,053$2,845
14 years$4,854$4,201$3,625$3,119$2,677$2,478
15 years$4,484$3,838$3,273$2,781$2,357$2,167
16 years$4,160$3,521$2,967$2,490$2,083$1,903
17 years$3,875$3,243$2,700$2,238$1,847$1,676
18 years$3,621$2,997$2,465$2,017$1,642$1,480
19 years$3,395$2,777$2,256$1,822$1,464$1,309
20 years$3,191$2,581$2,071$1,650$1,307$1,161
21 years$3,007$2,404$1,905$1,498$1,170$1,032
22 years$2,840$2,244$1,756$1,362$1,049$918
23 years$2,688$2,099$1,621$1,240$941$818
24 years$2,549$1,966$1,499$1,131$846$730
25 years$2,421$1,845$1,388$1,033$761$652
26 years$2,303$1,734$1,288$945$686$583
27 years$2,194$1,632$1,196$865$618$521
28 years$2,093$1,538$1,112$792$558$467
29 years$1,999$1,451$1,034$726$504$418
30 years$1,911$1,370$964$667$455$375
31 years$1,830$1,295$898$612$412$336
32 years$1,753$1,226$838$563$372$301
33 years$1,682$1,161$783$517$337$271
34 years$1,614$1,100$731$476$305$243
35 years$1,551$1,043$684$438$276$218
36 years$1,491$990$639$404$250$196
37 years$1,435$941$599$372$227$176
38 years$1,382$894$561$343$206$158
39 years$1,331$850$525$316$187$142
40 years$1,284$809$492$292$169$128
41 years$1,238$770$462$269$153$115
42 years$1,195$733$433$248$139$104
43 years$1,155$699$406$229$126$93
44 years$1,116$666$381$212$115$84
45 years$1,079$635$358$195$104$76
46 years$1,043$606$336$180$95$68
47 years$1,009$578$316$167$86$61
48 years$977$552$297$154$78$55
49 years$946$527$279$142$71$50
50 years$917$503$262$132$64$45

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $939,000, adding $4,243 every year, while hoping to spend $44,120 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: 65/30/5 Blend
61$939,000$939,000$939,000$939,000
62$1,039,155$989,388$974,833$1,105,719
63$1,098,205$990,924$960,547$1,152,005
64$1,161,800$991,058$944,303$1,196,883
65$1,230,356$989,672$925,990$1,244,734
66$1,304,332$986,645$905,490$1,295,841
67$1,384,230$981,847$882,680$1,350,518
68$1,470,604$975,140$857,432$1,409,110
69$1,564,061$966,378$829,612$1,472,001
70$1,665,270$955,405$799,078$1,539,613
71$1,774,965$942,057$765,685$1,612,413
72$1,893,953$926,160$729,277$1,690,917
73$2,023,124$907,529$689,695$1,775,695
74$2,163,453$885,969$646,771$1,867,377
75$2,316,016$861,272$600,329$1,966,658
76$2,481,996$833,220$550,185$2,074,307
77$2,662,692$801,580$496,149$2,191,173
78$2,859,536$766,107$438,020$2,318,194
79$3,074,104$726,542$375,589$2,456,406
80$3,308,129$682,609$308,637$2,606,954
81$3,563,519$634,017$236,938$2,771,100
82$3,842,375$580,461$160,252$2,950,241
83$4,147,008$521,615$78,331$3,145,918
84$4,479,964$457,136$0$3,359,834
85$4,844,046$386,661$0$3,594,351
86$5,242,339$309,807$0$3,855,553
87$5,678,239$226,169$0$4,141,562
88$6,155,489$135,321$0$4,454,922
89$6,678,208$36,810$0$4,798,444
90$7,250,931$0$0$5,175,226
91$7,878,657$0$0$5,611,744
92$8,566,886$0$0$6,103,723
93$9,321,680$0$0$6,643,351
94$10,149,713$0$0$7,235,408
95$11,058,339$0$0$7,885,159
96$12,055,654$0$0$8,598,404
97$13,150,581$0$0$9,381,533
98$14,352,946$0$0$10,241,583
99$15,673,574$0$0$11,186,306
100$17,124,390$0$0$12,224,244