Can I retire at age 62 with 944,000?

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 $944,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.4%
1 years$77,955$77,260$76,583$75,922$75,276$74,521
2 years$38,591$37,873$37,176$36,501$35,846$35,085
3 years$25,472$24,750$24,055$23,386$22,742$22,000
4 years$18,914$18,194$17,506$16,849$16,220$15,501
5 years$14,980$14,264$13,586$12,941$12,330$11,637
6 years$12,358$11,648$10,979$10,349$9,756$9,091
7 years$10,486$9,782$9,124$8,509$7,934$7,296
8 years$9,082$8,385$7,738$7,138$6,582$5,971
9 years$7,992$7,301$6,664$6,080$5,543$4,959
10 years$7,119$6,435$5,810$5,241$4,723$4,165
11 years$6,406$5,729$5,115$4,561$4,062$3,530
12 years$5,812$5,142$4,540$4,001$3,520$3,014
13 years$5,310$4,647$4,056$3,532$3,070$2,588
14 years$4,880$4,224$3,644$3,135$2,691$2,234
15 years$4,508$3,858$3,290$2,796$2,369$1,936
16 years$4,182$3,540$2,983$2,504$2,094$1,683
17 years$3,895$3,260$2,714$2,250$1,857$1,468
18 years$3,641$3,013$2,478$2,027$1,651$1,283
19 years$3,413$2,792$2,268$1,832$1,471$1,125
20 years$3,208$2,595$2,082$1,659$1,314$987
21 years$3,023$2,417$1,915$1,506$1,176$868
22 years$2,856$2,256$1,765$1,369$1,054$764
23 years$2,703$2,110$1,630$1,247$946$674
24 years$2,562$1,977$1,507$1,137$851$595
25 years$2,434$1,855$1,396$1,039$765$525
26 years$2,315$1,744$1,295$950$689$465
27 years$2,206$1,641$1,202$869$622$411
28 years$2,104$1,546$1,118$796$561$364
29 years$2,010$1,459$1,040$730$506$322
30 years$1,922$1,378$969$670$458$286
31 years$1,839$1,302$903$616$414$253
32 years$1,763$1,232$843$566$374$225
33 years$1,691$1,167$787$520$339$199
34 years$1,623$1,106$735$479$307$177
35 years$1,559$1,049$687$441$278$157
36 years$1,499$996$643$406$252$140
37 years$1,443$946$602$374$228$124
38 years$1,389$899$564$345$207$110
39 years$1,339$855$528$318$188$98
40 years$1,291$813$495$293$170$87
41 years$1,245$774$464$270$154$77
42 years$1,202$737$435$250$140$69
43 years$1,161$702$408$230$127$61
44 years$1,122$669$383$213$115$54
45 years$1,084$638$360$196$105$48
46 years$1,049$609$338$181$95$43
47 years$1,015$581$318$168$86$38
48 years$982$555$298$155$78$34
49 years$951$530$281$143$71$30
50 years$922$506$264$132$65$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $944,000, adding $4,904 every year, while hoping to spend $20,026 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: 51/29/20 Blend
61$944,000$944,000$944,000$944,000
62$1,045,346$995,314$980,682$1,092,628
63$1,130,664$1,022,777$992,228$1,153,243
64$1,224,013$1,050,915$1,003,489$1,216,643
65$1,326,192$1,079,739$1,014,435$1,285,151
66$1,438,078$1,109,261$1,025,033$1,359,257
67$1,560,640$1,139,493$1,035,250$1,439,501
68$1,694,944$1,170,446$1,045,049$1,526,480
69$1,842,163$1,202,133$1,054,393$1,620,848
70$2,003,590$1,234,563$1,063,241$1,723,327
71$2,180,648$1,267,749$1,071,552$1,834,711
72$2,374,906$1,301,701$1,079,281$1,955,877
73$2,588,091$1,336,429$1,086,382$2,087,788
74$2,822,106$1,371,943$1,092,805$2,231,507
75$3,079,046$1,408,254$1,098,499$2,388,205
76$3,361,220$1,445,370$1,103,410$2,559,170
77$3,671,172$1,483,300$1,107,482$2,745,822
78$4,011,703$1,522,053$1,110,653$2,949,727
79$4,385,899$1,561,636$1,112,863$3,172,609
80$4,797,160$1,602,056$1,114,043$3,416,367
81$5,249,233$1,643,319$1,114,126$3,683,094
82$5,746,244$1,685,431$1,113,039$3,975,096
83$6,292,741$1,728,397$1,110,706$4,294,914
84$6,893,732$1,772,220$1,107,046$4,645,350
85$7,554,737$1,816,903$1,101,977$5,029,487
86$8,281,837$1,862,448$1,095,409$5,450,726
87$9,081,731$1,908,855$1,087,252$5,912,813
88$9,961,802$1,956,123$1,077,409$6,419,878
89$10,930,182$2,004,249$1,065,779$6,976,470
90$11,995,833$2,053,230$1,052,255$7,587,603
91$13,168,631$2,103,061$1,036,728$8,258,801
92$14,459,454$2,153,734$1,019,082$8,996,154
93$15,880,292$2,205,240$999,194$9,806,371
94$17,444,353$2,257,568$976,939$10,696,848
95$19,166,193$2,310,705$952,182$11,675,732
96$21,061,850$2,364,635$924,785$12,752,004
97$23,148,996$2,419,339$894,603$13,935,561
98$25,447,104$2,474,798$861,483$15,237,309
99$27,977,632$2,530,986$825,266$16,669,268
100$30,764,224$2,587,878$785,785$18,244,685