Can I retire at age 62 with 963,000?

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 $963,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$79,524$78,815$78,124$77,450$76,791$75,957
2 years$39,368$38,635$37,924$37,235$36,567$35,728
3 years$25,985$25,248$24,540$23,857$23,200$22,381
4 years$19,294$18,560$17,859$17,188$16,546$15,754
5 years$15,281$14,551$13,859$13,202$12,578$11,815
6 years$12,607$11,882$11,200$10,558$9,953$9,219
7 years$10,697$9,979$9,307$8,680$8,094$7,391
8 years$9,265$8,554$7,893$7,281$6,715$6,042
9 years$8,152$7,447$6,799$6,202$5,655$5,012
10 years$7,263$6,565$5,927$5,346$4,818$4,204
11 years$6,535$5,844$5,218$4,653$4,144$3,559
12 years$5,929$5,245$4,631$4,081$3,591$3,034
13 years$5,417$4,740$4,137$3,603$3,131$2,603
14 years$4,978$4,309$3,718$3,198$2,745$2,243
15 years$4,598$3,936$3,356$2,852$2,417$1,941
16 years$4,266$3,611$3,043$2,554$2,136$1,686
17 years$3,974$3,326$2,769$2,295$1,894$1,468
18 years$3,714$3,073$2,528$2,068$1,684$1,282
19 years$3,482$2,848$2,314$1,869$1,501$1,122
20 years$3,273$2,647$2,124$1,692$1,341$983
21 years$3,084$2,465$1,953$1,536$1,200$863
22 years$2,913$2,301$1,800$1,397$1,075$759
23 years$2,757$2,152$1,662$1,272$965$668
24 years$2,614$2,017$1,537$1,160$868$589
25 years$2,483$1,893$1,424$1,059$781$519
26 years$2,362$1,779$1,321$969$703$458
27 years$2,250$1,674$1,226$887$634$405
28 years$2,146$1,577$1,140$812$572$358
29 years$2,050$1,488$1,061$745$517$317
30 years$1,960$1,405$988$684$467$280
31 years$1,876$1,328$921$628$422$248
32 years$1,798$1,257$860$577$382$220
33 years$1,725$1,190$803$531$346$194
34 years$1,656$1,128$750$488$313$172
35 years$1,591$1,070$701$449$283$153
36 years$1,529$1,016$656$414$257$135
37 years$1,472$965$614$381$233$120
38 years$1,417$917$575$352$211$106
39 years$1,366$872$539$324$191$94
40 years$1,317$829$505$299$174$84
41 years$1,270$790$473$276$157$74
42 years$1,226$752$444$255$143$66
43 years$1,184$716$417$235$130$59
44 years$1,144$683$391$217$118$52
45 years$1,106$651$367$200$107$46
46 years$1,070$621$345$185$97$41
47 years$1,035$593$324$171$88$36
48 years$1,002$566$305$158$80$32
49 years$971$540$286$146$73$29
50 years$940$516$269$135$66$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $963,000, adding $3,336 every year, while hoping to spend $26,217 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: 39/41/20 Blend
61$963,000$963,000$963,000$963,000
62$1,064,667$1,013,628$998,702$1,099,726
63$1,145,368$1,035,401$1,004,263$1,147,010
64$1,233,423$1,057,362$1,009,133$1,195,365
65$1,329,552$1,079,493$1,013,259$1,247,111
66$1,434,552$1,101,774$1,016,589$1,302,571
67$1,549,297$1,124,182$1,019,065$1,362,099
68$1,674,752$1,146,693$1,020,630$1,426,089
69$1,811,976$1,169,281$1,021,222$1,494,971
70$1,962,140$1,191,918$1,020,774$1,569,222
71$2,126,528$1,214,572$1,019,220$1,649,367
72$2,306,558$1,237,210$1,016,488$1,735,987
73$2,503,789$1,259,795$1,012,503$1,829,720
74$2,719,940$1,282,290$1,007,186$1,931,273
75$2,956,902$1,304,650$1,000,455$2,041,422
76$3,216,759$1,326,831$992,223$2,161,027
77$3,501,807$1,348,784$982,401$2,291,034
78$3,814,573$1,370,457$970,894$2,432,488
79$4,157,842$1,391,792$957,601$2,586,539
80$4,534,682$1,412,729$942,420$2,754,461
81$4,948,470$1,433,204$925,242$2,937,653
82$5,402,929$1,453,146$905,953$3,137,662
83$5,902,159$1,472,481$884,434$3,356,195
84$6,450,677$1,491,130$860,560$3,595,131
85$7,053,458$1,509,007$834,200$3,856,547
86$7,715,984$1,526,022$805,220$4,142,731
87$8,444,295$1,542,078$773,475$4,456,208
88$9,245,044$1,557,070$738,817$4,799,761
89$10,125,561$1,570,890$701,090$5,176,462
90$11,093,923$1,583,418$660,131$5,589,698
91$12,159,028$1,594,530$615,771$6,043,204
92$13,330,680$1,604,093$567,830$6,541,099
93$14,619,680$1,611,964$516,123$7,087,927
94$16,037,930$1,617,994$460,456$7,688,697
95$17,598,544$1,622,020$400,626$8,348,936
96$19,315,969$1,623,873$336,421$9,074,735
97$21,206,127$1,623,372$267,620$9,872,813
98$23,286,559$1,620,324$193,992$10,750,579
99$25,576,593$1,614,525$115,296$11,716,202
100$28,097,527$1,605,758$31,280$12,778,691