Can I retire at age 62 with 949,000?

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 $949,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.5%
1 years$78,368$77,669$76,988$76,324$75,675$72,787
2 years$38,796$38,073$37,373$36,694$36,036$33,160
3 years$25,607$24,881$24,183$23,510$22,862$20,090
4 years$19,014$18,290$17,599$16,938$16,306$13,657
5 years$15,059$14,340$13,657$13,010$12,395$9,878
6 years$12,423$11,710$11,037$10,404$9,808$7,423
7 years$10,541$9,834$9,172$8,554$7,977$5,723
8 years$9,131$8,429$7,779$7,176$6,617$4,494
9 years$8,034$7,339$6,700$6,112$5,573$3,576
10 years$7,157$6,469$5,841$5,269$4,748$2,874
11 years$6,440$5,759$5,142$4,585$4,084$2,328
12 years$5,843$5,169$4,564$4,022$3,539$1,897
13 years$5,338$4,671$4,077$3,551$3,086$1,554
14 years$4,906$4,246$3,663$3,152$2,705$1,278
15 years$4,532$3,879$3,308$2,811$2,382$1,054
16 years$4,204$3,559$2,999$2,517$2,105$871
17 years$3,916$3,278$2,729$2,261$1,866$722
18 years$3,660$3,029$2,491$2,038$1,660$599
19 years$3,431$2,807$2,280$1,842$1,479$498
20 years$3,225$2,608$2,093$1,668$1,321$414
21 years$3,039$2,430$1,925$1,514$1,182$345
22 years$2,871$2,268$1,774$1,376$1,060$288
23 years$2,717$2,121$1,638$1,253$951$240
24 years$2,576$1,987$1,515$1,143$855$200
25 years$2,447$1,865$1,403$1,044$769$167
26 years$2,327$1,753$1,301$955$693$140
27 years$2,217$1,650$1,209$874$625$117
28 years$2,115$1,554$1,123$801$564$97
29 years$2,020$1,466$1,045$734$509$81
30 years$1,932$1,385$974$674$460$68
31 years$1,849$1,309$908$619$416$57
32 years$1,772$1,239$847$569$376$48
33 years$1,700$1,173$791$523$340$40
34 years$1,632$1,112$739$481$308$33
35 years$1,568$1,055$691$443$279$28
36 years$1,507$1,001$646$408$253$23
37 years$1,450$951$605$376$229$20
38 years$1,397$903$566$346$208$16
39 years$1,346$859$531$319$189$14
40 years$1,297$817$497$295$171$11
41 years$1,252$778$466$272$155$10
42 years$1,208$741$438$251$141$8
43 years$1,167$706$411$232$128$7
44 years$1,128$673$385$214$116$6
45 years$1,090$642$362$197$105$5
46 years$1,054$612$340$182$96$4
47 years$1,020$584$319$169$87$3
48 years$988$558$300$156$79$3
49 years$956$533$282$144$72$2
50 years$927$509$265$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $949,000, adding $4,381 every year, while hoping to spend $57,583 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: 44/50/6 Blend
61$949,000$949,000$949,000$949,000
62$1,050,317$1,000,020$985,311$1,094,565
63$1,096,181$987,753$957,051$1,113,314
64$1,144,794$972,955$925,914$1,127,330
65$1,196,375$955,441$891,744$1,141,178
66$1,251,163$935,016$854,375$1,154,860
67$1,309,421$911,472$813,636$1,168,384
68$1,371,437$884,589$769,348$1,181,764
69$1,437,525$854,135$721,323$1,195,019
70$1,508,030$819,865$669,364$1,208,174
71$1,583,328$781,517$613,266$1,221,264
72$1,663,833$738,817$552,816$1,234,331
73$1,749,998$691,473$487,790$1,247,428
74$1,842,320$639,177$417,953$1,260,622
75$1,941,344$581,605$343,062$1,273,990
76$2,047,669$518,411$262,863$1,287,626
77$2,161,951$449,233$177,088$1,301,643
78$2,284,910$373,685$85,461$1,316,169
79$2,417,338$291,363$0$1,331,359
80$2,560,103$201,837$0$1,348,180
81$2,714,161$104,654$0$1,371,938
82$2,880,560$0$0$1,397,414
83$3,060,452$0$0$1,425,267
84$3,255,105$0$0$1,517,802
85$3,465,911$0$0$1,618,111
86$3,694,401$0$0$1,726,934
87$3,942,258$0$0$1,845,086
88$4,211,334$0$0$1,973,463
89$4,503,665$0$0$2,113,050
90$4,821,492$0$0$2,264,931
91$5,167,278$0$0$2,430,299
92$5,543,735$0$0$2,610,466
93$5,953,846$0$0$2,806,877
94$6,400,896$0$0$3,021,122
95$6,888,496$0$0$3,254,950
96$7,420,626$0$0$3,510,286
97$8,001,661$0$0$3,789,253
98$8,636,423$0$0$4,094,182
99$9,330,216$0$0$4,427,645
100$10,088,882$0$0$4,792,470