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%19.9%
1 years$77,542$76,851$76,177$75,519$74,877$71,906
2 years$38,387$37,672$36,979$36,307$35,656$32,700
3 years$25,337$24,619$23,928$23,263$22,622$19,773
4 years$18,813$18,098$17,413$16,759$16,134$13,415
5 years$14,900$14,189$13,514$12,873$12,265$9,682
6 years$12,292$11,586$10,921$10,294$9,705$7,260
7 years$10,430$9,730$9,075$8,464$7,892$5,585
8 years$9,034$8,340$7,697$7,100$6,548$4,374
9 years$7,949$7,262$6,629$6,048$5,514$3,472
10 years$7,082$6,401$5,779$5,213$4,698$2,784
11 years$6,372$5,698$5,088$4,537$4,041$2,249
12 years$5,781$5,115$4,516$3,979$3,502$1,828
13 years$5,282$4,622$4,034$3,513$3,053$1,493
14 years$4,854$4,201$3,625$3,119$2,677$1,224
15 years$4,484$3,838$3,273$2,781$2,357$1,007
16 years$4,160$3,521$2,967$2,490$2,083$830
17 years$3,875$3,243$2,700$2,238$1,847$686
18 years$3,621$2,997$2,465$2,017$1,642$567
19 years$3,395$2,777$2,256$1,822$1,464$470
20 years$3,191$2,581$2,071$1,650$1,307$390
21 years$3,007$2,404$1,905$1,498$1,170$324
22 years$2,840$2,244$1,756$1,362$1,049$269
23 years$2,688$2,099$1,621$1,240$941$224
24 years$2,549$1,966$1,499$1,131$846$186
25 years$2,421$1,845$1,388$1,033$761$155
26 years$2,303$1,734$1,288$945$686$129
27 years$2,194$1,632$1,196$865$618$107
28 years$2,093$1,538$1,112$792$558$89
29 years$1,999$1,451$1,034$726$504$74
30 years$1,911$1,370$964$667$455$62
31 years$1,830$1,295$898$612$412$52
32 years$1,753$1,226$838$563$372$43
33 years$1,682$1,161$783$517$337$36
34 years$1,614$1,100$731$476$305$30
35 years$1,551$1,043$684$438$276$25
36 years$1,491$990$639$404$250$21
37 years$1,435$941$599$372$227$17
38 years$1,382$894$561$343$206$14
39 years$1,331$850$525$316$187$12
40 years$1,284$809$492$292$169$10
41 years$1,238$770$462$269$153$8
42 years$1,195$733$433$248$139$7
43 years$1,155$699$406$229$126$6
44 years$1,116$666$381$212$115$5
45 years$1,079$635$358$195$104$4
46 years$1,043$606$336$180$95$3
47 years$1,009$578$316$167$86$3
48 years$977$552$297$154$78$2
49 years$946$527$279$142$71$2
50 years$917$503$262$132$64$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $939,000, adding $2,099 every year, while hoping to spend $45,227 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: 31/45/24 Blend
61$939,000$939,000$939,000$939,000
62$1,036,943$987,176$972,622$1,061,352
63$1,094,590$987,427$957,083$1,080,413
64$1,156,601$986,173$939,509$1,096,740
65$1,223,374$983,295$919,782$1,113,396
66$1,295,345$978,664$897,781$1,130,439
67$1,372,993$972,141$873,380$1,147,936
68$1,456,845$963,583$846,445$1,165,967
69$1,547,480$952,835$816,837$1,184,621
70$1,645,535$939,735$784,413$1,204,005
71$1,751,707$924,110$749,018$1,224,236
72$1,866,766$905,777$710,495$1,245,453
73$1,991,557$884,541$668,678$1,267,811
74$2,127,010$860,197$623,393$1,291,489
75$2,274,147$832,529$574,459$1,316,687
76$2,434,093$801,306$521,686$1,343,634
77$2,608,085$766,284$464,876$1,372,590
78$2,797,484$727,206$403,824$1,403,847
79$3,003,788$683,800$338,313$1,437,734
80$3,228,645$635,777$268,117$1,474,623
81$3,473,869$582,833$193,002$1,514,931
82$3,741,457$524,645$112,721$1,559,128
83$4,033,607$460,874$27,018$1,607,739
84$4,352,737$391,159$0$1,661,357
85$4,701,512$315,121$0$1,737,144
86$5,082,862$232,358$0$1,827,793
87$5,500,017$142,446$0$1,927,283
88$5,956,530$44,938$0$2,036,613
89$6,456,317$0$0$2,156,899
90$7,003,686$0$0$2,319,404
91$7,603,386$0$0$2,521,968
92$8,260,642$0$0$2,744,122
93$8,981,213$0$0$2,987,830
94$9,771,438$0$0$3,255,256
95$10,638,302$0$0$3,548,784
96$11,589,496$0$0$3,871,038
97$12,633,494$0$0$4,224,912
98$13,779,629$0$0$4,613,590
99$15,038,181$0$0$5,040,581
100$16,420,476$0$0$5,509,753