Can I retire at age 62 with 965,000?

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 $965,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$79,689$78,979$78,286$77,610$76,950$73,985
2 years$39,450$38,715$38,003$37,313$36,643$33,691
3 years$26,039$25,301$24,591$23,907$23,248$20,402
4 years$19,334$18,599$17,896$17,223$16,581$13,862
5 years$15,313$14,582$13,888$13,229$12,604$10,021
6 years$12,633$11,907$11,223$10,580$9,973$7,526
7 years$10,719$9,999$9,327$8,698$8,111$5,799
8 years$9,285$8,571$7,910$7,297$6,729$4,551
9 years$8,169$7,463$6,813$6,215$5,667$3,619
10 years$7,278$6,578$5,939$5,357$4,828$2,907
11 years$6,549$5,856$5,229$4,663$4,152$2,353
12 years$5,942$5,256$4,641$4,090$3,598$1,917
13 years$5,428$4,750$4,146$3,611$3,138$1,569
14 years$4,989$4,318$3,725$3,205$2,751$1,289
15 years$4,608$3,944$3,363$2,858$2,422$1,062
16 years$4,275$3,619$3,049$2,559$2,141$877
17 years$3,982$3,333$2,775$2,300$1,898$726
18 years$3,722$3,080$2,533$2,072$1,688$602
19 years$3,489$2,854$2,319$1,873$1,504$500
20 years$3,280$2,652$2,128$1,696$1,344$416
21 years$3,091$2,470$1,958$1,539$1,202$346
22 years$2,919$2,306$1,804$1,399$1,078$288
23 years$2,763$2,157$1,666$1,275$967$240
24 years$2,619$2,021$1,541$1,162$870$200
25 years$2,488$1,896$1,427$1,062$782$167
26 years$2,367$1,782$1,323$971$705$139
27 years$2,255$1,677$1,229$888$635$116
28 years$2,151$1,581$1,142$814$573$97
29 years$2,054$1,491$1,063$746$518$81
30 years$1,964$1,408$990$685$468$68
31 years$1,880$1,331$923$629$423$57
32 years$1,802$1,260$861$578$383$47
33 years$1,728$1,193$804$532$346$40
34 years$1,659$1,131$751$489$313$33
35 years$1,594$1,072$703$450$284$28
36 years$1,533$1,018$657$415$257$23
37 years$1,475$967$615$382$233$19
38 years$1,420$919$576$352$211$16
39 years$1,368$874$540$325$192$13
40 years$1,319$831$506$300$174$11
41 years$1,273$791$474$276$158$9
42 years$1,229$753$445$255$143$8
43 years$1,187$718$418$235$130$7
44 years$1,147$684$392$217$118$6
45 years$1,108$653$368$201$107$5
46 years$1,072$623$346$185$97$4
47 years$1,037$594$325$171$88$3
48 years$1,004$567$305$158$80$3
49 years$973$542$287$146$73$2
50 years$942$517$270$135$66$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $965,000, adding $5,379 every year, while hoping to spend $51,923 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: 33/43/24 Blend
61$965,000$965,000$965,000$965,000
62$1,068,978$1,017,833$1,002,876$1,096,264
63$1,122,769$1,012,462$981,227$1,111,848
64$1,180,305$1,005,086$957,112$1,123,573
65$1,241,915$995,555$930,394$1,135,164
66$1,307,958$983,704$900,930$1,146,644
67$1,378,827$969,363$868,568$1,158,040
68$1,454,955$952,349$833,153$1,169,390
69$1,536,816$932,470$794,519$1,180,737
70$1,624,930$909,520$752,494$1,192,136
71$1,719,870$883,283$706,900$1,203,654
72$1,822,263$853,531$657,547$1,215,369
73$1,932,800$820,020$604,241$1,227,373
74$2,052,239$782,494$546,777$1,239,777
75$2,181,412$740,682$484,939$1,252,707
76$2,321,237$694,295$418,505$1,266,313
77$2,472,719$643,032$347,241$1,280,764
78$2,636,966$586,570$270,903$1,296,260
79$2,815,195$524,570$189,237$1,313,026
80$3,008,745$456,674$101,976$1,331,322
81$3,219,089$382,503$8,844$1,351,444
82$3,447,846$301,656$0$1,373,728
83$3,696,800$213,711$0$1,421,745
84$3,967,911$118,220$0$1,476,665
85$4,263,338$14,713$0$1,536,792
86$4,585,455$0$0$1,602,765
87$4,936,877$0$0$1,721,342
88$5,320,480$0$0$1,858,512
89$5,739,433$0$0$2,008,463
90$6,197,220$0$0$2,172,462
91$6,697,682$0$0$2,351,902
92$7,245,044$0$0$2,548,316
93$7,843,958$0$0$2,763,396
94$8,499,550$0$0$2,999,000
95$9,217,460$0$0$3,257,179
96$10,003,903$0$0$3,540,189
97$10,865,719$0$0$3,850,516
98$11,810,446$0$0$4,190,896
99$12,846,382$0$0$4,564,346
100$13,982,669$0$0$4,974,186