Can I retire at age 62 with 959,000?

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 $959,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.8%
1 years$79,193$78,488$77,800$77,128$76,472$74,959
2 years$39,205$38,474$37,767$37,081$36,415$34,897
3 years$25,877$25,143$24,438$23,758$23,103$21,627
4 years$19,214$18,483$17,784$17,116$16,477$15,055
5 years$15,218$14,491$13,801$13,147$12,526$11,162
6 years$12,554$11,833$11,154$10,514$9,911$8,606
7 years$10,652$9,937$9,269$8,644$8,061$6,815
8 years$9,227$8,518$7,861$7,251$6,687$5,501
9 years$8,119$7,417$6,770$6,176$5,631$4,504
10 years$7,232$6,537$5,903$5,324$4,798$3,728
11 years$6,508$5,820$5,196$4,634$4,127$3,113
12 years$5,905$5,224$4,612$4,064$3,576$2,617
13 years$5,395$4,721$4,120$3,588$3,118$2,212
14 years$4,958$4,291$3,702$3,185$2,734$1,879
15 years$4,579$3,920$3,342$2,841$2,407$1,601
16 years$4,249$3,596$3,030$2,543$2,127$1,370
17 years$3,957$3,312$2,758$2,285$1,886$1,174
18 years$3,698$3,061$2,517$2,059$1,677$1,009
19 years$3,467$2,836$2,304$1,861$1,495$869
20 years$3,259$2,636$2,115$1,685$1,335$749
21 years$3,071$2,455$1,945$1,530$1,195$647
22 years$2,901$2,292$1,793$1,391$1,071$559
23 years$2,745$2,143$1,655$1,267$961$484
24 years$2,603$2,008$1,531$1,155$864$419
25 years$2,472$1,885$1,418$1,055$778$364
26 years$2,352$1,771$1,315$965$700$315
27 years$2,241$1,667$1,221$883$631$274
28 years$2,137$1,571$1,135$809$570$238
29 years$2,041$1,482$1,056$742$515$206
30 years$1,952$1,399$984$681$465$179
31 years$1,869$1,323$917$625$420$156
32 years$1,791$1,252$856$575$380$136
33 years$1,717$1,185$799$528$344$118
34 years$1,649$1,124$747$486$312$103
35 years$1,584$1,066$698$448$282$89
36 years$1,523$1,011$653$412$256$78
37 years$1,466$961$611$380$232$68
38 years$1,411$913$572$350$210$59
39 years$1,360$868$536$323$190$51
40 years$1,311$826$503$298$173$45
41 years$1,265$786$471$275$157$39
42 years$1,221$749$442$254$142$34
43 years$1,179$713$415$234$129$29
44 years$1,139$680$389$216$117$26
45 years$1,102$649$366$200$106$22
46 years$1,065$619$343$184$97$19
47 years$1,031$590$323$170$88$17
48 years$998$564$303$157$80$15
49 years$966$538$285$145$72$13
50 years$936$514$268$134$66$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $959,000, adding $5,728 every year, while hoping to spend $57,172 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: 39/45/16 Blend
61$959,000$959,000$959,000$959,000
62$1,062,726$1,011,899$997,035$1,098,878
63$1,110,294$1,000,652$969,605$1,113,961
64$1,160,797$986,937$939,340$1,124,316
65$1,214,475$970,574$906,085$1,134,295
66$1,271,590$951,370$869,677$1,143,893
67$1,332,427$929,122$829,946$1,153,109
68$1,397,300$903,615$786,715$1,161,947
69$1,466,553$874,620$739,798$1,170,416
70$1,540,561$841,896$689,001$1,178,531
71$1,619,738$805,189$634,122$1,186,317
72$1,704,535$764,226$574,948$1,193,805
73$1,795,448$718,724$511,260$1,201,036
74$1,893,021$668,379$442,824$1,208,065
75$1,997,851$612,872$369,401$1,214,957
76$2,110,594$551,865$290,738$1,221,792
77$2,231,969$485,001$206,573$1,228,669
78$2,362,767$411,902$116,629$1,235,702
79$2,503,854$332,170$20,621$1,243,031
80$2,656,185$245,385$0$1,250,816
81$2,820,808$151,100$0$1,273,217
82$2,998,873$48,847$0$1,301,149
83$3,191,646$0$0$1,331,395
84$3,400,520$0$0$1,394,945
85$3,627,023$0$0$1,490,196
86$3,872,839$0$0$1,593,681
87$4,139,817$0$0$1,706,193
88$4,429,994$0$0$1,828,605
89$4,745,608$0$0$1,961,877
90$5,089,123$0$0$2,107,066
91$5,463,249$0$0$2,265,334
92$5,870,970$0$0$2,437,960
93$6,315,568$0$0$2,626,354
94$6,800,657$0$0$2,832,065
95$7,330,213$0$0$3,056,800
96$7,908,615$0$0$3,302,437
97$8,540,681$0$0$3,571,046
98$9,231,717$0$0$3,864,903
99$9,987,566$0$0$4,186,517
100$10,814,659$0$0$4,538,648