Can I retire at age 62 with 952,000?

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 $952,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$78,615$77,915$77,232$76,565$75,914$74,564
2 years$38,918$38,194$37,491$36,810$36,149$34,794
3 years$25,688$24,960$24,259$23,585$22,935$21,616
4 years$19,074$18,348$17,655$16,991$16,357$15,086
5 years$15,107$14,385$13,701$13,051$12,434$11,213
6 years$12,463$11,747$11,072$10,437$9,839$8,670
7 years$10,575$9,865$9,201$8,581$8,002$6,885
8 years$9,159$8,456$7,803$7,198$6,638$5,573
9 years$8,059$7,362$6,721$6,131$5,590$4,577
10 years$7,180$6,490$5,859$5,285$4,763$3,800
11 years$6,460$5,777$5,159$4,600$4,097$3,183
12 years$5,862$5,185$4,578$4,035$3,550$2,684
13 years$5,355$4,686$4,090$3,562$3,096$2,277
14 years$4,921$4,260$3,675$3,162$2,714$1,940
15 years$4,546$3,891$3,318$2,820$2,389$1,660
16 years$4,218$3,570$3,008$2,525$2,112$1,424
17 years$3,928$3,288$2,737$2,269$1,872$1,226
18 years$3,671$3,038$2,499$2,044$1,665$1,057
19 years$3,442$2,816$2,288$1,847$1,484$913
20 years$3,236$2,617$2,100$1,673$1,325$791
21 years$3,049$2,437$1,931$1,518$1,186$685
22 years$2,880$2,275$1,780$1,381$1,063$595
23 years$2,725$2,128$1,643$1,257$954$517
24 years$2,584$1,994$1,520$1,147$858$449
25 years$2,454$1,871$1,408$1,047$772$391
26 years$2,335$1,758$1,306$958$695$341
27 years$2,224$1,655$1,212$877$627$297
28 years$2,122$1,559$1,127$803$566$259
29 years$2,027$1,471$1,049$736$511$226
30 years$1,938$1,389$977$676$461$197
31 years$1,855$1,313$911$621$417$172
32 years$1,778$1,243$850$570$377$150
33 years$1,705$1,177$793$525$342$131
34 years$1,637$1,115$741$483$309$115
35 years$1,572$1,058$693$444$280$100
36 years$1,512$1,004$648$409$254$87
37 years$1,455$954$607$377$230$76
38 years$1,401$906$568$348$209$67
39 years$1,350$862$532$320$189$58
40 years$1,302$820$499$296$172$51
41 years$1,256$781$468$273$156$45
42 years$1,212$743$439$252$141$39
43 years$1,171$708$412$232$128$34
44 years$1,131$675$387$214$116$30
45 years$1,094$644$363$198$106$26
46 years$1,058$614$341$183$96$23
47 years$1,023$586$320$169$87$20
48 years$991$559$301$156$79$17
49 years$959$534$283$144$72$15
50 years$929$510$266$133$65$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $952,000, adding $5,427 every year, while hoping to spend $43,961 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: 41/46/13 Blend
61$952,000$952,000$952,000$952,000
62$1,054,702$1,004,246$989,490$1,093,683
63$1,115,507$1,006,680$975,864$1,124,098
64$1,181,042$1,007,760$960,308$1,152,240
65$1,251,740$1,007,372$942,711$1,181,737
66$1,328,083$1,005,399$922,956$1,212,731
67$1,410,595$1,001,711$900,923$1,245,383
68$1,499,856$996,175$876,484$1,279,872
69$1,596,501$988,647$849,506$1,316,399
70$1,701,229$978,975$819,849$1,355,188
71$1,814,808$966,999$787,368$1,396,488
72$1,938,084$952,548$751,910$1,440,579
73$2,071,987$935,441$713,317$1,487,773
74$2,217,538$915,486$671,422$1,538,416
75$2,375,863$892,481$626,051$1,592,897
76$2,548,200$866,212$577,023$1,651,646
77$2,735,910$836,450$524,147$1,715,143
78$2,940,492$802,955$467,225$1,783,923
79$3,163,595$765,473$406,050$1,858,581
80$3,407,035$723,734$340,406$1,939,778
81$3,672,809$677,453$270,066$2,028,249
82$3,963,118$626,330$194,795$2,124,811
83$4,280,382$570,046$114,346$2,230,372
84$4,627,267$508,265$28,463$2,345,938
85$5,006,708$440,630$0$2,472,630
86$5,421,937$366,766$0$2,620,453
87$5,876,513$286,275$0$2,786,802
88$6,374,354$198,740$0$2,969,294
89$6,919,775$103,715$0$3,169,663
90$7,517,530$735$0$3,389,832
91$8,172,851$0$0$3,631,926
92$8,891,505$0$0$3,954,331
93$9,679,838$0$0$4,308,531
94$10,544,847$0$0$4,697,311
95$11,494,232$0$0$5,124,150
96$12,536,480$0$0$5,592,879
97$13,680,936$0$0$6,107,720
98$14,937,898$0$0$6,673,322
99$16,318,708$0$0$7,294,808
100$17,835,860$0$0$7,977,821