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%19.9%
1 years$78,615$77,915$77,232$76,565$75,914$72,902
2 years$38,918$38,194$37,491$36,810$36,149$33,152
3 years$25,688$24,960$24,259$23,585$22,935$20,047
4 years$19,074$18,348$17,655$16,991$16,357$13,600
5 years$15,107$14,385$13,701$13,051$12,434$9,816
6 years$12,463$11,747$11,072$10,437$9,839$7,360
7 years$10,575$9,865$9,201$8,581$8,002$5,662
8 years$9,159$8,456$7,803$7,198$6,638$4,435
9 years$8,059$7,362$6,721$6,131$5,590$3,520
10 years$7,180$6,490$5,859$5,285$4,763$2,822
11 years$6,460$5,777$5,159$4,600$4,097$2,280
12 years$5,862$5,185$4,578$4,035$3,550$1,853
13 years$5,355$4,686$4,090$3,562$3,096$1,514
14 years$4,921$4,260$3,675$3,162$2,714$1,241
15 years$4,546$3,891$3,318$2,820$2,389$1,021
16 years$4,218$3,570$3,008$2,525$2,112$841
17 years$3,928$3,288$2,737$2,269$1,872$695
18 years$3,671$3,038$2,499$2,044$1,665$575
19 years$3,442$2,816$2,288$1,847$1,484$476
20 years$3,236$2,617$2,100$1,673$1,325$395
21 years$3,049$2,437$1,931$1,518$1,186$328
22 years$2,880$2,275$1,780$1,381$1,063$273
23 years$2,725$2,128$1,643$1,257$954$227
24 years$2,584$1,994$1,520$1,147$858$189
25 years$2,454$1,871$1,408$1,047$772$157
26 years$2,335$1,758$1,306$958$695$131
27 years$2,224$1,655$1,212$877$627$109
28 years$2,122$1,559$1,127$803$566$91
29 years$2,027$1,471$1,049$736$511$76
30 years$1,938$1,389$977$676$461$63
31 years$1,855$1,313$911$621$417$52
32 years$1,778$1,243$850$570$377$44
33 years$1,705$1,177$793$525$342$36
34 years$1,637$1,115$741$483$309$30
35 years$1,572$1,058$693$444$280$25
36 years$1,512$1,004$648$409$254$21
37 years$1,455$954$607$377$230$18
38 years$1,401$906$568$348$209$15
39 years$1,350$862$532$320$189$12
40 years$1,302$820$499$296$172$10
41 years$1,256$781$468$273$156$9
42 years$1,212$743$439$252$141$7
43 years$1,171$708$412$232$128$6
44 years$1,131$675$387$214$116$5
45 years$1,094$644$363$198$106$4
46 years$1,058$614$341$183$96$3
47 years$1,023$586$320$169$87$3
48 years$991$559$301$156$79$2
49 years$959$534$283$144$72$2
50 years$929$510$266$133$65$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $952,000, adding $5,607 every year, while hoping to spend $22,674 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: 50/41/9 Blend
61$952,000$952,000$952,000$952,000
62$1,054,888$1,004,432$989,676$1,104,865
63$1,138,361$1,029,524$998,705$1,164,707
64$1,229,589$1,055,086$1,007,277$1,226,821
65$1,329,338$1,081,116$1,015,351$1,293,788
66$1,438,454$1,107,613$1,022,888$1,366,067
67$1,557,865$1,134,575$1,029,844$1,444,168
68$1,688,595$1,161,998$1,036,172$1,528,647
69$1,831,773$1,189,876$1,041,825$1,620,119
70$1,988,639$1,218,206$1,046,751$1,719,263
71$2,160,562$1,246,979$1,050,899$1,826,823
72$2,349,046$1,276,189$1,054,211$1,943,621
73$2,555,752$1,305,825$1,056,630$2,070,562
74$2,782,505$1,335,877$1,058,094$2,208,641
75$3,031,318$1,366,332$1,058,538$2,358,956
76$3,304,408$1,397,178$1,057,894$2,522,716
77$3,604,215$1,428,397$1,056,091$2,701,254
78$3,933,430$1,459,973$1,053,055$2,896,036
79$4,295,014$1,491,886$1,048,706$3,108,680
80$4,692,232$1,524,115$1,042,964$3,340,967
81$5,128,678$1,556,636$1,035,743$3,594,859
82$5,608,314$1,589,421$1,026,951$3,872,520
83$6,135,503$1,622,444$1,016,494$4,176,332
84$6,715,052$1,655,671$1,004,275$4,508,923
85$7,352,257$1,689,070$990,188$4,873,185
86$8,052,954$1,722,601$974,126$5,272,308
87$8,823,571$1,756,224$955,975$5,709,806
88$9,671,192$1,789,895$935,616$6,189,551
89$10,603,620$1,823,566$912,926$6,715,812
90$11,629,453$1,857,185$887,773$7,293,292
91$12,758,165$1,890,695$860,021$7,927,173
92$14,000,195$1,924,036$829,529$8,623,170
93$15,367,045$1,957,143$796,148$9,387,576
94$16,871,386$1,989,946$759,721$10,227,331
95$18,527,182$2,022,368$720,087$11,150,079
96$20,349,819$2,054,329$677,074$12,164,250
97$22,356,250$2,085,741$630,506$13,279,128
98$24,565,156$2,116,511$580,197$14,504,952
99$26,997,121$2,146,538$525,952$15,853,000
100$29,674,825$2,175,716$467,568$17,335,705