Can I retire at age 62 with 969,000?

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 $969,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$80,019$79,306$78,611$77,932$77,269$76,115
2 years$39,613$38,876$38,161$37,467$36,795$35,634
3 years$26,147$25,406$24,692$24,006$23,344$22,214
4 years$19,415$18,676$17,970$17,295$16,649$15,557
5 years$15,376$14,642$13,945$13,284$12,657$11,607
6 years$12,685$11,956$11,270$10,623$10,015$9,008
7 years$10,764$10,041$9,365$8,734$8,145$7,181
8 years$9,323$8,607$7,943$7,327$6,757$5,837
9 years$8,203$7,494$6,841$6,241$5,690$4,813
10 years$7,308$6,606$5,964$5,380$4,848$4,014
11 years$6,576$5,880$5,251$4,682$4,170$3,376
12 years$5,966$5,278$4,660$4,107$3,613$2,860
13 years$5,451$4,770$4,163$3,626$3,151$2,437
14 years$5,009$4,336$3,741$3,218$2,762$2,087
15 years$4,627$3,961$3,377$2,870$2,432$1,794
16 years$4,293$3,634$3,062$2,570$2,149$1,547
17 years$3,999$3,347$2,786$2,309$1,906$1,338
18 years$3,737$3,092$2,544$2,081$1,695$1,160
19 years$3,503$2,866$2,329$1,880$1,510$1,007
20 years$3,293$2,663$2,137$1,703$1,349$876
21 years$3,104$2,481$1,966$1,546$1,207$764
22 years$2,931$2,316$1,812$1,405$1,082$666
23 years$2,774$2,166$1,673$1,280$971$582
24 years$2,630$2,029$1,547$1,167$873$509
25 years$2,498$1,904$1,433$1,066$786$446
26 years$2,377$1,790$1,329$975$708$390
27 years$2,264$1,684$1,234$892$638$342
28 years$2,160$1,587$1,147$817$576$300
29 years$2,063$1,497$1,068$750$520$263
30 years$1,972$1,414$994$688$470$231
31 years$1,888$1,337$927$632$425$203
32 years$1,809$1,265$865$581$384$178
33 years$1,735$1,198$808$534$348$156
34 years$1,666$1,135$755$491$315$137
35 years$1,601$1,077$705$452$285$121
36 years$1,539$1,022$660$417$258$106
37 years$1,481$971$618$384$234$93
38 years$1,426$922$578$354$212$82
39 years$1,374$877$542$326$192$72
40 years$1,325$835$508$301$175$63
41 years$1,278$794$476$278$158$56
42 years$1,234$757$447$256$144$49
43 years$1,191$721$419$236$130$43
44 years$1,151$687$394$218$118$38
45 years$1,113$655$370$202$107$33
46 years$1,077$625$347$186$98$29
47 years$1,042$597$326$172$89$26
48 years$1,008$569$306$159$80$23
49 years$977$544$288$147$73$20
50 years$946$519$271$136$66$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $969,000, adding $4,920 every year, while hoping to spend $56,024 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: 89/6/5 Blend
61$969,000$969,000$969,000$969,000
62$1,072,913$1,021,556$1,006,536$1,168,117
63$1,122,741$1,012,003$980,646$1,221,219
64$1,175,774$1,000,104$952,011$1,271,183
65$1,232,279$985,686$920,480$1,324,250
66$1,292,550$968,563$885,895$1,380,688
67$1,356,908$948,540$848,090$1,440,792
68$1,425,705$925,411$806,893$1,504,884
69$1,499,326$898,956$762,123$1,573,321
70$1,578,195$868,942$713,592$1,646,493
71$1,662,775$835,125$661,102$1,724,830
72$1,753,577$797,244$604,447$1,808,804
73$1,851,158$755,025$543,412$1,898,935
74$1,956,131$708,177$477,772$1,995,794
75$2,069,171$656,392$407,292$2,100,012
76$2,191,017$599,346$331,727$2,212,281
77$2,322,481$536,694$250,819$2,333,362
78$2,464,455$468,073$164,303$2,464,094
79$2,617,921$393,100$71,899$2,605,402
80$2,783,957$311,370$0$2,758,302
81$2,963,746$222,453$0$2,925,339
82$3,158,593$125,898$0$3,110,507
83$3,369,929$21,227$0$3,311,341
84$3,599,331$0$0$3,529,356
85$3,848,529$0$0$3,772,294
86$4,119,431$0$0$4,037,918
87$4,414,133$0$0$4,326,882
88$4,734,942$0$0$4,641,449
89$5,084,397$0$0$4,984,109
90$5,465,290$0$0$5,357,601
91$5,880,697$0$0$5,764,939
92$6,334,000$0$0$6,209,444
93$6,828,924$0$0$6,694,767
94$7,369,570$0$0$7,224,930
95$7,960,451$0$0$7,804,360
96$8,606,535$0$0$8,437,930
97$9,313,295$0$0$9,131,005
98$10,086,755$0$0$9,889,496
99$10,933,548$0$0$10,719,906
100$11,860,980$0$0$11,629,402