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%11.1%
1 years$79,193$78,488$77,800$77,128$76,472$76,118
2 years$39,205$38,474$37,767$37,081$36,415$36,058
3 years$25,877$25,143$24,438$23,758$23,103$22,753
4 years$19,214$18,483$17,784$17,116$16,477$16,138
5 years$15,218$14,491$13,801$13,147$12,526$12,198
6 years$12,554$11,833$11,154$10,514$9,911$9,595
7 years$10,652$9,937$9,269$8,644$8,061$7,757
8 years$9,227$8,518$7,861$7,251$6,687$6,395
9 years$8,119$7,417$6,770$6,176$5,631$5,351
10 years$7,232$6,537$5,903$5,324$4,798$4,530
11 years$6,508$5,820$5,196$4,634$4,127$3,870
12 years$5,905$5,224$4,612$4,064$3,576$3,331
13 years$5,395$4,721$4,120$3,588$3,118$2,885
14 years$4,958$4,291$3,702$3,185$2,734$2,511
15 years$4,579$3,920$3,342$2,841$2,407$2,195
16 years$4,249$3,596$3,030$2,543$2,127$1,926
17 years$3,957$3,312$2,758$2,285$1,886$1,695
18 years$3,698$3,061$2,517$2,059$1,677$1,495
19 years$3,467$2,836$2,304$1,861$1,495$1,323
20 years$3,259$2,636$2,115$1,685$1,335$1,172
21 years$3,071$2,455$1,945$1,530$1,195$1,041
22 years$2,901$2,292$1,793$1,391$1,071$925
23 years$2,745$2,143$1,655$1,267$961$824
24 years$2,603$2,008$1,531$1,155$864$734
25 years$2,472$1,885$1,418$1,055$778$655
26 years$2,352$1,771$1,315$965$700$585
27 years$2,241$1,667$1,221$883$631$523
28 years$2,137$1,571$1,135$809$570$468
29 years$2,041$1,482$1,056$742$515$419
30 years$1,952$1,399$984$681$465$375
31 years$1,869$1,323$917$625$420$336
32 years$1,791$1,252$856$575$380$301
33 years$1,717$1,185$799$528$344$270
34 years$1,649$1,124$747$486$312$243
35 years$1,584$1,066$698$448$282$218
36 years$1,523$1,011$653$412$256$195
37 years$1,466$961$611$380$232$176
38 years$1,411$913$572$350$210$158
39 years$1,360$868$536$323$190$142
40 years$1,311$826$503$298$173$127
41 years$1,265$786$471$275$157$114
42 years$1,221$749$442$254$142$103
43 years$1,179$713$415$234$129$92
44 years$1,139$680$389$216$117$83
45 years$1,102$649$366$200$106$75
46 years$1,065$619$343$184$97$67
47 years$1,031$590$323$170$88$60
48 years$998$564$303$157$80$54
49 years$966$538$285$145$72$49
50 years$936$514$268$134$66$44

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $959,000, adding $3,967 every year, while hoping to spend $45,804 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: 65/7/28 Blend
61$959,000$959,000$959,000$959,000
62$1,060,910$1,010,083$995,218$1,121,773
63$1,120,388$1,010,842$979,823$1,164,156
64$1,184,397$1,010,103$962,377$1,205,025
65$1,253,352$1,007,744$942,763$1,248,693
66$1,327,706$1,003,636$920,858$1,295,442
67$1,407,960$997,643$896,535$1,345,583
68$1,494,662$989,617$869,659$1,399,458
69$1,588,415$979,406$840,090$1,457,449
70$1,689,882$966,845$807,681$1,519,975
71$1,799,791$951,761$772,279$1,587,501
72$1,918,943$933,971$733,724$1,660,542
73$2,048,219$913,280$691,848$1,739,666
74$2,188,588$889,481$646,476$1,825,500
75$2,341,116$862,357$597,424$1,918,740
76$2,506,973$831,676$544,502$2,020,153
77$2,687,451$797,195$487,509$2,130,586
78$2,883,968$758,654$426,237$2,250,978
79$3,098,085$715,781$360,468$2,382,363
80$3,331,520$668,284$289,975$2,525,885
81$3,586,165$615,860$214,518$2,682,808
82$3,864,101$558,184$133,852$2,854,527
83$4,167,618$494,915$47,715$3,042,583
84$4,499,240$425,690$0$3,248,680
85$4,861,743$350,130$0$3,487,903
86$5,258,184$267,829$0$3,765,191
87$5,691,930$178,363$0$4,068,655
88$6,166,685$81,282$0$4,400,914
89$6,686,533$0$0$4,764,857
90$7,255,966$0$0$5,165,506
91$7,879,935$0$0$5,611,449
92$8,563,890$0$0$6,100,328
93$9,313,835$0$0$6,636,443
94$10,136,383$0$0$7,224,529
95$11,038,814$0$0$7,869,802
96$12,029,152$0$0$8,578,006
97$13,116,233$0$0$9,355,470
98$14,309,789$0$0$10,209,164
99$15,620,543$0$0$11,146,767
100$17,060,305$0$0$12,176,739