Can I retire at age 62 with 961,000?

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 $961,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.4%
1 years$79,358$78,652$77,962$77,289$76,631$75,549
2 years$39,286$38,555$37,846$37,158$36,491$35,402
3 years$25,931$25,196$24,489$23,808$23,152$22,091
4 years$19,254$18,522$17,821$17,152$16,512$15,487
5 years$15,249$14,521$13,830$13,174$12,552$11,566
6 years$12,580$11,858$11,177$10,536$9,932$8,986
7 years$10,675$9,958$9,288$8,662$8,077$7,172
8 years$9,246$8,536$7,877$7,266$6,701$5,836
9 years$8,135$7,432$6,784$6,189$5,643$4,818
10 years$7,248$6,551$5,915$5,335$4,808$4,023
11 years$6,522$5,832$5,207$4,643$4,135$3,388
12 years$5,917$5,234$4,621$4,073$3,584$2,874
13 years$5,406$4,730$4,129$3,596$3,125$2,452
14 years$4,968$4,300$3,710$3,192$2,739$2,102
15 years$4,589$3,928$3,349$2,847$2,412$1,809
16 years$4,258$3,604$3,037$2,549$2,132$1,563
17 years$3,966$3,319$2,763$2,290$1,890$1,353
18 years$3,706$3,067$2,523$2,064$1,681$1,175
19 years$3,474$2,842$2,309$1,865$1,498$1,022
20 years$3,266$2,641$2,119$1,689$1,338$891
21 years$3,078$2,460$1,949$1,533$1,197$777
22 years$2,907$2,297$1,797$1,394$1,073$679
23 years$2,751$2,148$1,659$1,269$963$594
24 years$2,609$2,012$1,534$1,158$866$520
25 years$2,478$1,889$1,421$1,057$779$456
26 years$2,357$1,775$1,318$967$702$400
27 years$2,245$1,670$1,224$885$633$351
28 years$2,142$1,574$1,138$811$571$308
29 years$2,046$1,485$1,059$743$516$271
30 years$1,956$1,402$986$682$466$238
31 years$1,873$1,326$919$627$421$210
32 years$1,794$1,254$858$576$381$184
33 years$1,721$1,188$801$530$345$162
34 years$1,652$1,126$748$487$312$143
35 years$1,587$1,068$700$449$283$126
36 years$1,526$1,014$654$413$256$111
37 years$1,469$963$613$381$232$97
38 years$1,414$915$574$351$211$86
39 years$1,363$870$537$323$191$76
40 years$1,314$828$504$298$173$67
41 years$1,268$788$472$275$157$59
42 years$1,223$750$443$254$143$52
43 years$1,182$715$416$235$129$46
44 years$1,142$681$390$217$117$40
45 years$1,104$650$366$200$107$35
46 years$1,068$620$344$185$97$31
47 years$1,033$592$323$171$88$28
48 years$1,000$565$304$158$80$24
49 years$968$539$286$146$72$21
50 years$938$515$269$135$66$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $961,000, adding $4,136 every year, while hoping to spend $40,079 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: 58/33/9 Blend
61$961,000$961,000$961,000$961,000
62$1,063,288$1,012,355$997,460$1,122,503
63$1,129,100$1,019,317$988,231$1,169,794
64$1,200,281$1,025,276$977,350$1,216,446
65$1,277,337$1,030,142$964,718$1,266,315
66$1,360,824$1,033,818$950,234$1,319,713
67$1,451,352$1,036,198$933,791$1,376,986
68$1,549,593$1,037,175$915,276$1,438,512
69$1,656,286$1,036,632$894,573$1,504,715
70$1,772,243$1,034,443$871,558$1,576,059
71$1,898,360$1,030,478$846,102$1,653,058
72$2,035,619$1,024,598$818,073$1,736,281
73$2,185,102$1,016,653$787,329$1,826,354
74$2,348,001$1,006,488$753,723$1,923,971
75$2,525,626$993,935$717,101$2,029,898
76$2,719,420$978,818$677,305$2,144,982
77$2,930,971$960,950$634,164$2,270,156
78$3,162,026$940,133$587,505$2,406,453
79$3,414,510$916,157$537,144$2,555,014
80$3,690,541$888,799$482,889$2,717,098
81$3,992,452$857,826$424,541$2,894,096
82$4,322,809$822,987$361,890$3,087,544
83$4,684,442$784,019$294,720$3,299,137
84$5,080,463$740,644$222,801$3,530,749
85$5,514,302$692,568$145,897$3,784,448
86$5,989,735$639,478$63,759$4,062,516
87$6,510,921$581,045$0$4,367,473
88$7,082,441$516,922$0$4,704,397
89$7,709,338$446,739$0$5,080,747
90$8,397,171$370,109$0$5,493,811
91$9,152,059$286,621$0$5,947,359
92$9,980,744$195,841$0$6,445,549
93$10,890,653$97,311$0$6,992,970
94$11,889,967$0$0$7,594,683
95$12,987,698$0$0$8,259,704
96$14,193,774$0$0$9,029,272
97$15,519,131$0$0$9,875,038
98$16,975,819$0$0$10,804,703
99$18,577,111$0$0$11,826,750
100$20,337,633$0$0$12,950,525