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%18.3%
1 years$79,689$78,979$78,286$77,610$76,950$74,368
2 years$39,450$38,715$38,003$37,313$36,643$34,067
3 years$26,039$25,301$24,591$23,907$23,248$20,759
4 years$19,334$18,599$17,896$17,223$16,581$14,198
5 years$15,313$14,582$13,888$13,229$12,604$10,334
6 years$12,633$11,907$11,223$10,580$9,973$7,817
7 years$10,719$9,999$9,327$8,698$8,111$6,069
8 years$9,285$8,571$7,910$7,297$6,729$4,799
9 years$8,169$7,463$6,813$6,215$5,667$3,847
10 years$7,278$6,578$5,939$5,357$4,828$3,115
11 years$6,549$5,856$5,229$4,663$4,152$2,543
12 years$5,942$5,256$4,641$4,090$3,598$2,090
13 years$5,428$4,750$4,146$3,611$3,138$1,725
14 years$4,989$4,318$3,725$3,205$2,751$1,430
15 years$4,608$3,944$3,363$2,858$2,422$1,190
16 years$4,275$3,619$3,049$2,559$2,141$992
17 years$3,982$3,333$2,775$2,300$1,898$829
18 years$3,722$3,080$2,533$2,072$1,688$695
19 years$3,489$2,854$2,319$1,873$1,504$583
20 years$3,280$2,652$2,128$1,696$1,344$489
21 years$3,091$2,470$1,958$1,539$1,202$411
22 years$2,919$2,306$1,804$1,399$1,078$346
23 years$2,763$2,157$1,666$1,275$967$291
24 years$2,619$2,021$1,541$1,162$870$245
25 years$2,488$1,896$1,427$1,062$782$207
26 years$2,367$1,782$1,323$971$705$174
27 years$2,255$1,677$1,229$888$635$147
28 years$2,151$1,581$1,142$814$573$124
29 years$2,054$1,491$1,063$746$518$105
30 years$1,964$1,408$990$685$468$89
31 years$1,880$1,331$923$629$423$75
32 years$1,802$1,260$861$578$383$63
33 years$1,728$1,193$804$532$346$53
34 years$1,659$1,131$751$489$313$45
35 years$1,594$1,072$703$450$284$38
36 years$1,533$1,018$657$415$257$32
37 years$1,475$967$615$382$233$27
38 years$1,420$919$576$352$211$23
39 years$1,368$874$540$325$192$19
40 years$1,319$831$506$300$174$16
41 years$1,273$791$474$276$158$14
42 years$1,229$753$445$255$143$12
43 years$1,187$718$418$235$130$10
44 years$1,147$684$392$217$118$8
45 years$1,108$653$368$201$107$7
46 years$1,072$623$346$185$97$6
47 years$1,037$594$325$171$88$5
48 years$1,004$567$305$158$80$4
49 years$973$542$287$146$73$4
50 years$942$517$270$135$66$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $965,000, adding $4,181 every year, while hoping to spend $37,138 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: 35/40/25 Blend
61$965,000$965,000$965,000$965,000
62$1,067,743$1,016,598$1,001,640$1,096,917
63$1,137,138$1,026,896$995,681$1,129,255
64$1,212,367$1,036,455$988,277$1,160,448
65$1,293,985$1,045,198$979,341$1,193,369
66$1,382,604$1,053,045$968,781$1,228,198
67$1,478,896$1,059,911$956,502$1,265,133
68$1,583,601$1,065,704$942,402$1,304,395
69$1,697,532$1,070,327$926,376$1,346,230
70$1,821,584$1,073,678$908,314$1,390,912
71$1,956,744$1,075,646$888,101$1,438,745
72$2,104,095$1,076,115$865,615$1,490,067
73$2,264,830$1,074,962$840,730$1,545,254
74$2,440,262$1,072,056$813,315$1,604,723
75$2,631,838$1,067,256$783,230$1,668,938
76$2,841,149$1,060,414$750,331$1,738,413
77$3,069,947$1,051,375$714,468$1,813,720
78$3,320,160$1,039,972$675,482$1,895,492
79$3,593,914$1,026,027$633,207$1,984,431
80$3,893,545$1,009,355$587,472$2,081,317
81$4,221,631$989,757$538,097$2,187,013
82$4,581,005$967,024$484,891$2,302,476
83$4,974,793$940,933$427,660$2,428,768
84$5,406,432$911,248$366,196$2,567,063
85$5,879,711$877,722$300,287$2,718,661
86$6,398,801$840,091$229,707$2,885,005
87$6,968,299$798,076$154,222$3,067,689
88$7,593,265$751,381$73,588$3,268,479
89$8,279,276$699,696$0$3,489,328
90$9,032,471$642,691$0$3,735,723
91$9,859,617$580,016$0$4,027,895
92$10,768,165$511,304$0$4,348,913
93$11,766,326$436,166$0$4,701,780
94$12,863,143$354,190$0$5,089,811
95$14,068,580$264,942$0$5,516,665
96$15,393,613$167,962$0$5,986,384
97$16,850,336$62,767$0$6,503,428
98$18,452,072$0$0$7,072,719
99$20,213,500$0$0$7,722,211
100$22,150,791$0$0$8,467,089