Can I retire at age 62 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$78,533$77,833$77,151$76,485$75,834$75,451
2 years$38,878$38,154$37,452$36,771$36,111$35,725
3 years$25,661$24,934$24,234$23,560$22,911$22,533
4 years$19,054$18,329$17,636$16,974$16,340$15,973
5 years$15,091$14,370$13,686$13,037$12,421$12,067
6 years$12,449$11,734$11,061$10,426$9,829$9,487
7 years$10,564$9,854$9,191$8,572$7,993$7,665
8 years$9,150$8,447$7,795$7,191$6,631$6,316
9 years$8,051$7,355$6,714$6,125$5,584$5,282
10 years$7,172$6,483$5,853$5,280$4,758$4,469
11 years$6,454$5,771$5,153$4,595$4,092$3,815
12 years$5,855$5,180$4,573$4,030$3,546$3,282
13 years$5,350$4,681$4,086$3,558$3,092$2,840
14 years$4,916$4,255$3,671$3,159$2,711$2,471
15 years$4,541$3,887$3,315$2,817$2,387$2,158
16 years$4,213$3,566$3,005$2,522$2,109$1,892
17 years$3,924$3,284$2,735$2,266$1,870$1,664
18 years$3,668$3,035$2,496$2,042$1,663$1,467
19 years$3,438$2,813$2,285$1,845$1,482$1,297
20 years$3,232$2,614$2,097$1,671$1,324$1,149
21 years$3,046$2,435$1,929$1,517$1,185$1,019
22 years$2,877$2,273$1,778$1,379$1,062$905
23 years$2,723$2,126$1,642$1,256$953$805
24 years$2,581$1,992$1,518$1,146$857$717
25 years$2,452$1,869$1,406$1,046$771$640
26 years$2,332$1,756$1,304$957$695$571
27 years$2,222$1,653$1,211$876$626$510
28 years$2,120$1,558$1,126$802$565$456
29 years$2,024$1,469$1,048$736$510$408
30 years$1,936$1,388$976$675$461$365
31 years$1,853$1,312$910$620$417$327
32 years$1,776$1,241$849$570$377$293
33 years$1,703$1,176$793$524$341$262
34 years$1,635$1,114$741$482$309$235
35 years$1,571$1,057$692$444$280$211
36 years$1,510$1,003$648$409$254$189
37 years$1,453$953$606$377$230$170
38 years$1,399$905$568$347$208$152
39 years$1,348$861$532$320$189$137
40 years$1,300$819$499$295$171$123
41 years$1,254$780$467$272$155$110
42 years$1,211$743$438$251$141$99
43 years$1,169$707$411$232$128$89
44 years$1,130$674$386$214$116$80
45 years$1,092$643$363$198$105$72
46 years$1,057$613$341$183$96$64
47 years$1,022$585$320$169$87$58
48 years$990$559$301$156$79$52
49 years$958$534$283$144$72$47
50 years$929$510$266$133$65$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $951,000, adding $3,334 every year, while hoping to spend $50,807 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: 40/42/18 Blend
61$951,000$951,000$951,000$951,000
62$1,051,441$1,001,038$986,298$1,087,762
63$1,104,630$996,031$965,280$1,108,967
64$1,161,541$989,075$941,856$1,126,746
65$1,222,501$980,022$915,891$1,144,917
66$1,287,866$968,714$887,244$1,163,541
67$1,358,030$954,983$855,768$1,182,690
68$1,433,423$938,651$821,310$1,202,447
69$1,514,518$919,530$783,710$1,222,909
70$1,601,833$897,422$742,798$1,244,185
71$1,695,939$872,114$698,401$1,266,400
72$1,797,461$843,384$650,334$1,289,698
73$1,907,088$810,995$598,405$1,314,243
74$2,025,574$774,697$542,415$1,340,220
75$2,153,750$734,225$482,154$1,367,840
76$2,292,530$689,300$417,404$1,397,342
77$2,442,918$639,625$347,936$1,428,996
78$2,606,016$584,886$273,512$1,463,105
79$2,783,038$524,755$193,883$1,500,013
80$2,975,320$458,880$108,790$1,540,106
81$3,184,329$386,892$17,962$1,583,819
82$3,411,682$308,400$0$1,631,638
83$3,659,155$222,993$0$1,699,278
84$3,928,704$130,235$0$1,776,852
85$4,222,480$29,665$0$1,861,653
86$4,542,853$0$0$1,954,509
87$4,892,429$0$0$2,092,949
88$5,274,077$0$0$2,259,175
89$5,690,956$0$0$2,440,867
90$6,146,542$0$0$2,639,557
91$6,644,665$0$0$2,856,929
92$7,189,537$0$0$3,094,840
93$7,785,801$0$0$3,355,332
94$8,438,566$0$0$3,640,657
95$9,153,460$0$0$3,953,291
96$9,936,679$0$0$4,295,965
97$10,795,047$0$0$4,671,684
98$11,736,081$0$0$5,083,758
99$12,768,058$0$0$5,535,835
100$13,900,097$0$0$6,031,929