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%11.5%
1 years$78,863$78,161$77,475$76,806$76,153$75,673
2 years$39,041$38,314$37,609$36,926$36,263$35,779
3 years$25,769$25,039$24,336$23,659$23,007$22,534
4 years$19,134$18,406$17,710$17,045$16,409$15,950
5 years$15,154$14,431$13,744$13,092$12,474$12,031
6 years$12,502$11,784$11,107$10,470$9,870$9,443
7 years$10,608$9,896$9,230$8,608$8,027$7,617
8 years$9,188$8,483$7,828$7,221$6,659$6,266
9 years$8,085$7,386$6,742$6,151$5,608$5,231
10 years$7,202$6,510$5,878$5,302$4,778$4,418
11 years$6,481$5,796$5,175$4,614$4,109$3,765
12 years$5,880$5,202$4,592$4,047$3,561$3,232
13 years$5,372$4,701$4,103$3,573$3,105$2,792
14 years$4,937$4,273$3,687$3,172$2,722$2,424
15 years$4,560$3,903$3,329$2,829$2,397$2,113
16 years$4,231$3,581$3,018$2,533$2,118$1,849
17 years$3,941$3,298$2,746$2,276$1,878$1,623
18 years$3,683$3,048$2,507$2,051$1,670$1,428
19 years$3,453$2,825$2,295$1,853$1,489$1,259
20 years$3,246$2,625$2,106$1,678$1,330$1,113
21 years$3,059$2,445$1,937$1,523$1,190$985
22 years$2,889$2,282$1,785$1,385$1,067$873
23 years$2,734$2,134$1,649$1,261$957$775
24 years$2,592$2,000$1,525$1,150$861$689
25 years$2,462$1,877$1,412$1,051$774$613
26 years$2,342$1,764$1,310$961$697$546
27 years$2,231$1,660$1,216$879$629$486
28 years$2,128$1,564$1,131$806$567$434
29 years$2,033$1,476$1,052$739$512$387
30 years$1,944$1,394$980$678$463$345
31 years$1,861$1,317$914$623$419$308
32 years$1,783$1,247$852$572$379$276
33 years$1,710$1,181$796$526$343$246
34 years$1,642$1,119$744$484$310$220
35 years$1,577$1,061$695$446$281$197
36 years$1,517$1,007$650$411$255$176
37 years$1,460$957$609$378$231$158
38 years$1,405$909$570$349$209$141
39 years$1,354$865$534$321$190$127
40 years$1,306$823$501$296$172$113
41 years$1,260$783$469$274$156$101
42 years$1,216$746$440$252$142$91
43 years$1,174$710$413$233$129$81
44 years$1,135$677$388$215$117$73
45 years$1,097$646$364$199$106$65
46 years$1,061$616$342$184$96$59
47 years$1,027$588$321$170$87$53
48 years$994$561$302$157$79$47
49 years$962$536$284$145$72$42
50 years$932$512$267$134$65$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $955,000, adding $3,128 every year, while hoping to spend $39,162 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: 70/22/8 Blend
61$955,000$955,000$955,000$955,000
62$1,055,637$1,005,022$990,219$1,127,854
63$1,121,643$1,012,600$981,723$1,183,628
64$1,193,070$1,019,236$971,630$1,239,536
65$1,270,429$1,024,844$959,846$1,299,645
66$1,354,282$1,029,331$946,269$1,364,360
67$1,445,247$1,032,596$930,798$1,434,127
68$1,544,005$1,034,536$913,322$1,509,438
69$1,651,303$1,035,038$893,728$1,590,834
70$1,767,965$1,033,984$871,897$1,678,913
71$1,894,895$1,031,247$847,703$1,774,333
72$2,033,090$1,026,694$821,017$1,877,823
73$2,183,646$1,020,183$791,702$1,990,182
74$2,347,769$1,011,563$759,615$2,112,296
75$2,526,786$1,000,674$724,607$2,245,139
76$2,722,159$987,348$686,522$2,389,787
77$2,935,495$971,404$645,196$2,547,425
78$3,168,566$952,652$600,460$2,719,361
79$3,423,319$930,892$552,136$2,907,038
80$3,701,902$905,910$500,036$3,112,047
81$4,006,676$877,480$443,967$3,336,141
82$4,340,243$845,362$383,727$3,581,257
83$4,705,468$809,305$319,102$3,849,528
84$5,105,506$769,041$249,871$4,143,308
85$5,543,830$724,286$175,804$4,465,192
86$6,024,266$674,742$96,659$4,818,043
87$6,551,028$620,091$12,184$5,205,018
88$7,128,756$559,999$0$5,629,598
89$7,762,563$494,113$0$6,102,276
90$8,458,079$422,059$0$6,622,175
91$9,221,505$343,441$0$7,192,944
92$10,059,672$257,844$0$7,819,759
93$10,980,106$164,825$0$8,508,322
94$11,991,096$63,921$0$9,264,921
95$13,101,774$0$0$10,096,485
96$14,322,200$0$0$11,021,638
97$15,663,458$0$0$12,055,449
98$17,137,756$0$0$13,191,861
99$18,758,545$0$0$14,441,250
100$20,540,647$0$0$15,815,047