Can I retire at age 62 with 955,000?

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 $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.4%
1 years$78,863$78,161$77,475$76,806$76,153$73,568
2 years$39,041$38,314$37,609$36,926$36,263$33,685
3 years$25,769$25,039$24,336$23,659$23,007$20,516
4 years$19,134$18,406$17,710$17,045$16,409$14,025
5 years$15,154$14,431$13,744$13,092$12,474$10,202
6 years$12,502$11,784$11,107$10,470$9,870$7,713
7 years$10,608$9,896$9,230$8,608$8,027$5,985
8 years$9,188$8,483$7,828$7,221$6,659$4,730
9 years$8,085$7,386$6,742$6,151$5,608$3,789
10 years$7,202$6,510$5,878$5,302$4,778$3,067
11 years$6,481$5,796$5,175$4,614$4,109$2,502
12 years$5,880$5,202$4,592$4,047$3,561$2,054
13 years$5,372$4,701$4,103$3,573$3,105$1,695
14 years$4,937$4,273$3,687$3,172$2,722$1,404
15 years$4,560$3,903$3,329$2,829$2,397$1,167
16 years$4,231$3,581$3,018$2,533$2,118$973
17 years$3,941$3,298$2,746$2,276$1,878$813
18 years$3,683$3,048$2,507$2,051$1,670$680
19 years$3,453$2,825$2,295$1,853$1,489$570
20 years$3,246$2,625$2,106$1,678$1,330$478
21 years$3,059$2,445$1,937$1,523$1,190$402
22 years$2,889$2,282$1,785$1,385$1,067$338
23 years$2,734$2,134$1,649$1,261$957$284
24 years$2,592$2,000$1,525$1,150$861$239
25 years$2,462$1,877$1,412$1,051$774$201
26 years$2,342$1,764$1,310$961$697$170
27 years$2,231$1,660$1,216$879$629$143
28 years$2,128$1,564$1,131$806$567$121
29 years$2,033$1,476$1,052$739$512$102
30 years$1,944$1,394$980$678$463$86
31 years$1,861$1,317$914$623$419$72
32 years$1,783$1,247$852$572$379$61
33 years$1,710$1,181$796$526$343$52
34 years$1,642$1,119$744$484$310$44
35 years$1,577$1,061$695$446$281$37
36 years$1,517$1,007$650$411$255$31
37 years$1,460$957$609$378$231$26
38 years$1,405$909$570$349$209$22
39 years$1,354$865$534$321$190$19
40 years$1,306$823$501$296$172$16
41 years$1,260$783$469$274$156$13
42 years$1,216$746$440$252$142$11
43 years$1,174$710$413$233$129$9
44 years$1,135$677$388$215$117$8
45 years$1,097$646$364$199$106$7
46 years$1,061$616$342$184$96$6
47 years$1,027$588$321$170$87$5
48 years$994$561$302$157$79$4
49 years$962$536$284$145$72$3
50 years$932$512$267$134$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $955,000, adding $5,691 every year, while hoping to spend $59,747 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: 69/9/22 Blend
61$955,000$955,000$955,000$955,000
62$1,058,280$1,007,665$992,863$1,125,094
63$1,102,655$993,471$962,553$1,156,309
64$1,149,552$976,578$929,226$1,182,961
65$1,199,168$956,792$892,717$1,210,689
66$1,251,715$933,906$852,854$1,239,594
67$1,307,423$907,700$809,458$1,269,793
68$1,366,546$877,944$762,341$1,301,414
69$1,429,362$844,391$711,307$1,334,598
70$1,496,173$806,782$656,152$1,369,507
71$1,567,311$764,843$596,661$1,406,317
72$1,643,138$718,282$532,611$1,445,227
73$1,724,052$666,792$463,768$1,486,456
74$1,810,490$610,048$389,888$1,530,250
75$1,902,927$547,708$310,716$1,576,882
76$2,001,887$479,408$225,987$1,626,655
77$2,107,945$404,764$135,423$1,679,907
78$2,221,729$323,371$38,733$1,737,011
79$2,343,930$234,801$0$1,798,385
80$2,475,307$138,602$0$1,879,620
81$2,616,692$34,297$0$1,976,786
82$2,768,999$0$0$2,081,428
83$2,933,230$0$0$2,202,045
84$3,110,491$0$0$2,335,938
85$3,301,990$0$0$2,480,630
86$3,509,062$0$0$2,637,134
87$3,733,167$0$0$2,806,560
88$3,975,917$0$0$2,990,132
89$4,239,078$0$0$3,189,193
90$4,524,597$0$0$3,405,221
91$4,834,613$0$0$3,639,842
92$5,171,478$0$0$3,894,845
93$5,537,782$0$0$4,172,195
94$5,936,370$0$0$4,474,057
95$6,370,378$0$0$4,802,813
96$6,843,252$0$0$5,161,082
97$7,358,786$0$0$5,551,749
98$7,921,157$0$0$5,977,987
99$8,534,961$0$0$6,443,291
100$9,205,257$0$0$6,951,505