Can I retire at age 62 with 952,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17.3%
1 years$78,615$77,915$77,232$76,565$75,914$73,661
2 years$38,918$38,194$37,491$36,810$36,149$33,898
3 years$25,688$24,960$24,259$23,585$22,935$20,756
4 years$19,074$18,348$17,655$16,991$16,357$14,267
5 years$15,107$14,385$13,701$13,051$12,434$10,439
6 years$12,463$11,747$11,072$10,437$9,839$7,940
7 years$10,575$9,865$9,201$8,581$8,002$6,200
8 years$9,159$8,456$7,803$7,198$6,638$4,931
9 years$8,059$7,362$6,721$6,131$5,590$3,977
10 years$7,180$6,490$5,859$5,285$4,763$3,241
11 years$6,460$5,777$5,159$4,600$4,097$2,663
12 years$5,862$5,185$4,578$4,035$3,550$2,203
13 years$5,355$4,686$4,090$3,562$3,096$1,831
14 years$4,921$4,260$3,675$3,162$2,714$1,529
15 years$4,546$3,891$3,318$2,820$2,389$1,281
16 years$4,218$3,570$3,008$2,525$2,112$1,076
17 years$3,928$3,288$2,737$2,269$1,872$906
18 years$3,671$3,038$2,499$2,044$1,665$764
19 years$3,442$2,816$2,288$1,847$1,484$646
20 years$3,236$2,617$2,100$1,673$1,325$546
21 years$3,049$2,437$1,931$1,518$1,186$463
22 years$2,880$2,275$1,780$1,381$1,063$393
23 years$2,725$2,128$1,643$1,257$954$333
24 years$2,584$1,994$1,520$1,147$858$283
25 years$2,454$1,871$1,408$1,047$772$240
26 years$2,335$1,758$1,306$958$695$204
27 years$2,224$1,655$1,212$877$627$174
28 years$2,122$1,559$1,127$803$566$148
29 years$2,027$1,471$1,049$736$511$126
30 years$1,938$1,389$977$676$461$107
31 years$1,855$1,313$911$621$417$91
32 years$1,778$1,243$850$570$377$78
33 years$1,705$1,177$793$525$342$66
34 years$1,637$1,115$741$483$309$56
35 years$1,572$1,058$693$444$280$48
36 years$1,512$1,004$648$409$254$41
37 years$1,455$954$607$377$230$35
38 years$1,401$906$568$348$209$30
39 years$1,350$862$532$320$189$25
40 years$1,302$820$499$296$172$22
41 years$1,256$781$468$273$156$18
42 years$1,212$743$439$252$141$16
43 years$1,171$708$412$232$128$13
44 years$1,131$675$387$214$116$11
45 years$1,094$644$363$198$106$10
46 years$1,058$614$341$183$96$8
47 years$1,023$586$320$169$87$7
48 years$991$559$301$156$79$6
49 years$959$534$283$144$72$5
50 years$929$510$266$133$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $952,000, adding $4,221 every year, while hoping to spend $34,130 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: 43/40/17 Blend
61$952,000$952,000$952,000$952,000
62$1,053,458$1,003,002$988,246$1,093,380
63$1,124,597$1,015,835$985,038$1,134,723
64$1,201,848$1,028,153$980,579$1,175,794
65$1,285,798$1,039,895$974,790$1,219,566
66$1,377,095$1,050,994$967,591$1,266,304
67$1,476,448$1,061,383$958,895$1,316,302
68$1,584,640$1,070,985$948,613$1,369,882
69$1,702,532$1,079,722$936,650$1,427,403
70$1,831,072$1,087,510$922,909$1,489,261
71$1,971,301$1,094,257$907,286$1,555,895
72$2,124,367$1,099,870$889,674$1,627,789
73$2,291,534$1,104,245$869,959$1,705,479
74$2,474,192$1,107,275$848,025$1,789,559
75$2,673,872$1,108,844$823,746$1,880,684
76$2,892,261$1,108,830$796,995$1,979,578
77$3,131,212$1,107,104$767,635$2,087,044
78$3,392,771$1,103,528$735,526$2,203,966
79$3,679,188$1,097,954$700,520$2,331,324
80$3,992,940$1,090,229$662,463$2,470,201
81$4,336,757$1,080,187$621,192$2,621,791
82$4,713,644$1,067,654$576,540$2,787,417
83$5,126,911$1,052,445$528,330$2,968,539
84$5,580,205$1,034,364$476,378$3,166,769
85$6,077,541$1,013,202$420,491$3,383,890
86$6,623,342$988,741$360,469$3,621,870
87$7,222,480$960,746$296,102$3,882,884
88$7,880,322$928,972$227,171$4,169,332
89$8,602,780$893,158$153,447$4,483,867
90$9,396,367$853,026$74,691$4,829,417
91$10,268,257$808,285$0$5,209,215
92$11,226,354$758,625$0$5,628,529
93$12,279,366$703,721$0$6,104,172
94$13,436,883$643,226$0$6,626,980
95$14,709,476$576,774$0$7,201,809
96$16,108,787$503,981$0$7,834,014
97$17,647,645$424,437$0$8,529,501
98$19,340,183$337,713$0$9,294,788
99$21,201,972$243,352$0$10,137,061
100$23,250,170$140,873$0$11,064,248