Can I retire at age 62 with 963,000?

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 $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%11.7%
1 years$79,524$78,815$78,124$77,450$76,791$76,243
2 years$39,368$38,635$37,924$37,235$36,567$36,015
3 years$25,985$25,248$24,540$23,857$23,200$22,660
4 years$19,294$18,560$17,859$17,188$16,546$16,023
5 years$15,281$14,551$13,859$13,202$12,578$12,073
6 years$12,607$11,882$11,200$10,558$9,953$9,467
7 years$10,697$9,979$9,307$8,680$8,094$7,627
8 years$9,265$8,554$7,893$7,281$6,715$6,267
9 years$8,152$7,447$6,799$6,202$5,655$5,226
10 years$7,263$6,565$5,927$5,346$4,818$4,408
11 years$6,535$5,844$5,218$4,653$4,144$3,752
12 years$5,929$5,245$4,631$4,081$3,591$3,217
13 years$5,417$4,740$4,137$3,603$3,131$2,776
14 years$4,978$4,309$3,718$3,198$2,745$2,406
15 years$4,598$3,936$3,356$2,852$2,417$2,095
16 years$4,266$3,611$3,043$2,554$2,136$1,831
17 years$3,974$3,326$2,769$2,295$1,894$1,604
18 years$3,714$3,073$2,528$2,068$1,684$1,410
19 years$3,482$2,848$2,314$1,869$1,501$1,242
20 years$3,273$2,647$2,124$1,692$1,341$1,096
21 years$3,084$2,465$1,953$1,536$1,200$968
22 years$2,913$2,301$1,800$1,397$1,075$857
23 years$2,757$2,152$1,662$1,272$965$760
24 years$2,614$2,017$1,537$1,160$868$674
25 years$2,483$1,893$1,424$1,059$781$599
26 years$2,362$1,779$1,321$969$703$532
27 years$2,250$1,674$1,226$887$634$474
28 years$2,146$1,577$1,140$812$572$422
29 years$2,050$1,488$1,061$745$517$376
30 years$1,960$1,405$988$684$467$335
31 years$1,876$1,328$921$628$422$299
32 years$1,798$1,257$860$577$382$266
33 years$1,725$1,190$803$531$346$238
34 years$1,656$1,128$750$488$313$212
35 years$1,591$1,070$701$449$283$190
36 years$1,529$1,016$656$414$257$169
37 years$1,472$965$614$381$233$151
38 years$1,417$917$575$352$211$135
39 years$1,366$872$539$324$191$121
40 years$1,317$829$505$299$174$108
41 years$1,270$790$473$276$157$97
42 years$1,226$752$444$255$143$86
43 years$1,184$716$417$235$130$77
44 years$1,144$683$391$217$118$69
45 years$1,106$651$367$200$107$62
46 years$1,070$621$345$185$97$55
47 years$1,035$593$324$171$88$49
48 years$1,002$566$305$158$80$44
49 years$971$540$286$146$73$40
50 years$940$516$269$135$66$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $963,000, adding $3,488 every year, while hoping to spend $34,084 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: 51/42/7 Blend
61$963,000$963,000$963,000$963,000
62$1,064,824$1,013,785$998,858$1,117,098
63$1,137,171$1,027,195$996,055$1,166,452
64$1,215,755$1,040,120$992,015$1,216,106
65$1,301,176$1,052,500$986,662$1,269,269
66$1,394,095$1,064,272$979,914$1,326,281
67$1,495,237$1,075,366$971,686$1,387,512
68$1,605,403$1,085,711$961,889$1,453,373
69$1,725,472$1,095,228$950,431$1,524,318
70$1,856,412$1,103,836$937,212$1,600,848
71$1,999,289$1,111,447$922,131$1,683,516
72$2,155,275$1,117,966$905,081$1,772,932
73$2,325,661$1,123,295$885,949$1,869,769
74$2,511,869$1,127,327$864,619$1,974,772
75$2,715,463$1,129,950$840,968$2,088,761
76$2,938,167$1,131,043$814,866$2,212,643
77$3,181,877$1,130,481$786,181$2,347,418
78$3,448,681$1,128,128$754,771$2,494,190
79$3,740,881$1,123,841$720,490$2,654,180
80$4,061,009$1,117,467$683,185$2,828,731
81$4,411,854$1,108,845$642,694$3,019,331
82$4,796,489$1,097,805$598,850$3,227,617
83$5,218,298$1,084,164$551,479$3,455,399
84$5,681,007$1,067,731$500,396$3,704,675
85$6,188,722$1,048,301$445,411$3,977,646
86$6,745,963$1,025,659$386,323$4,276,746
87$7,357,711$999,577$322,926$4,604,658
88$8,029,453$969,812$254,999$4,964,342
89$8,767,233$936,108$182,317$5,359,068
90$9,577,707$898,193$104,641$5,792,438
91$10,468,211$855,782$21,724$6,268,433
92$11,446,823$808,571$0$6,791,440
93$12,522,446$756,238$0$7,371,287
94$13,704,886$698,444$0$8,010,387
95$15,004,947$634,830$0$8,713,028
96$16,434,532$565,018$0$9,485,734
97$18,006,757$488,605$0$10,335,698
98$19,736,069$405,170$0$11,270,854
99$21,638,388$314,264$0$12,299,953
100$23,731,255$215,414$0$13,432,644