Can I retire at age 62 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$79,606$78,897$78,205$77,530$76,871$74,291
2 years$39,409$38,675$37,964$37,274$36,605$34,032
3 years$26,012$25,275$24,565$23,882$23,224$20,737
4 years$19,314$18,579$17,877$17,206$16,563$14,183
5 years$15,297$14,567$13,873$13,215$12,591$10,323
6 years$12,620$11,895$11,212$10,569$9,963$7,809
7 years$10,708$9,989$9,317$8,689$8,103$6,062
8 years$9,275$8,563$7,902$7,289$6,722$4,794
9 years$8,161$7,455$6,806$6,209$5,661$3,843
10 years$7,270$6,571$5,933$5,352$4,823$3,112
11 years$6,542$5,850$5,224$4,658$4,148$2,541
12 years$5,935$5,251$4,636$4,085$3,595$2,087
13 years$5,423$4,745$4,142$3,607$3,135$1,724
14 years$4,984$4,313$3,721$3,202$2,748$1,429
15 years$4,603$3,940$3,360$2,855$2,419$1,189
16 years$4,271$3,615$3,046$2,557$2,138$991
17 years$3,978$3,329$2,772$2,297$1,896$829
18 years$3,718$3,076$2,530$2,070$1,686$694
19 years$3,485$2,851$2,317$1,871$1,503$582
20 years$3,276$2,650$2,126$1,694$1,342$489
21 years$3,088$2,468$1,955$1,538$1,201$411
22 years$2,916$2,304$1,802$1,398$1,077$346
23 years$2,760$2,155$1,664$1,273$966$291
24 years$2,617$2,019$1,539$1,161$869$245
25 years$2,485$1,894$1,425$1,061$782$207
26 years$2,364$1,781$1,322$970$704$174
27 years$2,252$1,676$1,228$888$635$147
28 years$2,149$1,579$1,141$813$573$124
29 years$2,052$1,490$1,062$746$517$105
30 years$1,962$1,407$989$684$467$88
31 years$1,878$1,330$922$629$422$75
32 years$1,800$1,258$860$578$382$63
33 years$1,726$1,192$803$531$346$53
34 years$1,657$1,129$751$489$313$45
35 years$1,592$1,071$702$450$284$38
36 years$1,531$1,017$657$414$257$32
37 years$1,473$966$614$382$233$27
38 years$1,419$918$575$352$211$23
39 years$1,367$873$539$324$191$19
40 years$1,318$830$505$299$174$16
41 years$1,271$790$474$276$158$14
42 years$1,227$753$444$255$143$12
43 years$1,185$717$417$235$130$10
44 years$1,145$684$392$217$118$8
45 years$1,107$652$368$201$107$7
46 years$1,071$622$345$185$97$6
47 years$1,036$593$324$171$88$5
48 years$1,003$567$305$158$80$4
49 years$972$541$287$146$73$4
50 years$941$517$269$135$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $964,000, adding $4,265 every year, while hoping to spend $47,735 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: 61/12/27 Blend
61$964,000$964,000$964,000$964,000
62$1,066,727$1,015,635$1,000,693$1,123,823
63$1,124,744$1,014,612$983,427$1,162,133
64$1,187,078$1,011,938$963,982$1,198,396
65$1,254,120$1,007,483$942,236$1,236,962
66$1,326,299$1,001,108$918,059$1,278,064
67$1,404,083$992,664$891,316$1,321,962
68$1,487,990$981,996$861,866$1,368,945
69$1,578,588$968,936$829,561$1,419,332
70$1,676,500$953,310$794,246$1,473,478
71$1,782,410$934,930$755,762$1,531,774
72$1,897,074$913,598$713,937$1,594,655
73$2,021,317$889,107$668,596$1,662,602
74$2,156,052$861,234$619,555$1,736,149
75$2,302,280$829,745$566,620$1,815,884
76$2,461,102$794,392$509,591$1,902,463
77$2,633,729$754,912$448,257$1,996,606
78$2,821,495$711,027$382,399$2,099,115
79$3,025,865$662,445$311,787$2,210,874
80$3,248,453$608,855$236,182$2,332,861
81$3,491,034$549,928$155,333$2,466,160
82$3,755,563$485,318$68,980$2,611,968
83$4,044,189$414,657$0$2,771,607
84$4,359,281$337,560$0$2,953,219
85$4,703,443$253,616$0$3,173,386
86$5,079,544$162,393$0$3,414,086
87$5,490,743$63,436$0$3,677,387
88$5,940,517$0$0$3,965,562
89$6,432,693$0$0$4,286,898
90$6,971,488$0$0$4,647,912
91$7,561,544$0$0$5,043,348
92$8,207,973$0$0$5,476,641
93$8,916,405$0$0$5,951,574
94$9,693,041$0$0$6,472,314
95$10,544,709$0$0$7,043,451
96$11,478,931$0$0$7,670,039
97$12,503,991$0$0$8,357,646
98$13,629,015$0$0$9,112,404
99$14,864,055$0$0$9,941,070
100$16,220,182$0$0$10,851,084