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%18.6%
1 years$79,606$78,897$78,205$77,530$76,871$74,202
2 years$39,409$38,675$37,964$37,274$36,605$33,944
3 years$26,012$25,275$24,565$23,882$23,224$20,654
4 years$19,314$18,579$17,877$17,206$16,563$14,105
5 years$15,297$14,567$13,873$13,215$12,591$10,250
6 years$12,620$11,895$11,212$10,569$9,963$7,741
7 years$10,708$9,989$9,317$8,689$8,103$5,999
8 years$9,275$8,563$7,902$7,289$6,722$4,735
9 years$8,161$7,455$6,806$6,209$5,661$3,789
10 years$7,270$6,571$5,933$5,352$4,823$3,063
11 years$6,542$5,850$5,224$4,658$4,148$2,496
12 years$5,935$5,251$4,636$4,085$3,595$2,046
13 years$5,423$4,745$4,142$3,607$3,135$1,686
14 years$4,984$4,313$3,721$3,202$2,748$1,395
15 years$4,603$3,940$3,360$2,855$2,419$1,158
16 years$4,271$3,615$3,046$2,557$2,138$964
17 years$3,978$3,329$2,772$2,297$1,896$804
18 years$3,718$3,076$2,530$2,070$1,686$671
19 years$3,485$2,851$2,317$1,871$1,503$562
20 years$3,276$2,650$2,126$1,694$1,342$471
21 years$3,088$2,468$1,955$1,538$1,201$395
22 years$2,916$2,304$1,802$1,398$1,077$331
23 years$2,760$2,155$1,664$1,273$966$278
24 years$2,617$2,019$1,539$1,161$869$234
25 years$2,485$1,894$1,425$1,061$782$197
26 years$2,364$1,781$1,322$970$704$166
27 years$2,252$1,676$1,228$888$635$139
28 years$2,149$1,579$1,141$813$573$117
29 years$2,052$1,490$1,062$746$517$99
30 years$1,962$1,407$989$684$467$83
31 years$1,878$1,330$922$629$422$70
32 years$1,800$1,258$860$578$382$59
33 years$1,726$1,192$803$531$346$50
34 years$1,657$1,129$751$489$313$42
35 years$1,592$1,071$702$450$284$35
36 years$1,531$1,017$657$414$257$30
37 years$1,473$966$614$382$233$25
38 years$1,419$918$575$352$211$21
39 years$1,367$873$539$324$191$18
40 years$1,318$830$505$299$174$15
41 years$1,271$790$474$276$158$13
42 years$1,227$753$444$255$143$11
43 years$1,185$717$417$235$130$9
44 years$1,145$684$392$217$118$8
45 years$1,107$652$368$201$107$6
46 years$1,071$622$345$185$97$5
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$3
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 $3,953 every year, while hoping to spend $31,783 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: 52/36/12 Blend
61$964,000$964,000$964,000$964,000
62$1,066,406$1,015,314$1,000,372$1,118,278
63$1,141,362$1,031,247$1,000,067$1,170,041
64$1,222,899$1,046,896$998,687$1,222,583
65$1,311,654$1,062,213$996,162$1,278,996
66$1,408,328$1,077,147$992,420$1,339,654
67$1,513,694$1,091,644$987,382$1,404,971
68$1,628,602$1,105,645$980,970$1,475,400
69$1,753,986$1,119,089$973,100$1,551,443
70$1,890,876$1,131,908$963,682$1,633,656
71$2,040,406$1,144,031$952,626$1,722,648
72$2,203,822$1,155,384$939,833$1,819,095
73$2,382,498$1,165,884$925,205$1,923,740
74$2,577,947$1,175,447$908,633$2,037,405
75$2,791,834$1,183,980$890,008$2,160,995
76$3,025,991$1,191,385$869,214$2,295,509
77$3,282,439$1,197,559$846,129$2,442,051
78$3,563,399$1,202,391$820,626$2,601,838
79$3,871,321$1,205,764$792,572$2,776,211
80$4,208,902$1,207,552$761,829$2,966,651
81$4,579,111$1,207,623$728,252$3,174,793
82$4,985,220$1,205,836$691,687$3,402,439
83$5,430,831$1,202,041$651,978$3,651,578
84$5,919,915$1,196,080$608,958$3,924,404
85$6,456,841$1,187,783$562,453$4,223,336
86$7,046,427$1,176,972$512,283$4,551,045
87$7,693,976$1,163,458$458,259$4,910,475
88$8,405,334$1,147,039$400,182$5,304,876
89$9,186,936$1,127,503$337,847$5,737,830
90$10,045,876$1,104,623$271,037$6,213,289
91$10,989,967$1,078,161$199,529$6,735,613
92$12,027,817$1,047,864$123,086$7,309,611
93$13,168,909$1,013,464$41,464$7,940,584
94$14,423,692$974,678$0$8,634,382
95$15,803,676$931,205$0$9,403,299
96$17,321,545$882,728$0$10,254,650
97$18,991,272$828,911$0$11,191,001
98$20,828,254$769,399$0$12,221,040
99$22,849,453$703,817$0$13,354,346
100$25,073,562$631,769$0$14,601,481