Can I retire at age 62 with 995,000?

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 $995,000?

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$82,166$81,434$80,720$80,023$79,343$76,680
2 years$40,676$39,919$39,185$38,473$37,782$35,126
3 years$26,848$26,087$25,355$24,650$23,971$21,404
4 years$19,935$19,177$18,452$17,759$17,096$14,639
5 years$15,789$15,035$14,319$13,640$12,996$10,655
6 years$13,025$12,277$11,572$10,908$10,283$8,060
7 years$11,052$10,310$9,617$8,968$8,363$6,257
8 years$9,573$8,838$8,156$7,523$6,938$4,948
9 years$8,423$7,695$7,024$6,408$5,843$3,966
10 years$7,504$6,783$6,124$5,524$4,978$3,212
11 years$6,752$6,038$5,392$4,808$4,282$2,622
12 years$6,126$5,420$4,785$4,217$3,710$2,155
13 years$5,597$4,898$4,275$3,723$3,235$1,779
14 years$5,144$4,452$3,841$3,305$2,836$1,475
15 years$4,751$4,067$3,468$2,947$2,497$1,227
16 years$4,408$3,731$3,144$2,639$2,207$1,023
17 years$4,106$3,436$2,861$2,371$1,957$855
18 years$3,837$3,175$2,612$2,137$1,740$716
19 years$3,597$2,943$2,391$1,931$1,551$601
20 years$3,382$2,735$2,194$1,749$1,385$504
21 years$3,187$2,547$2,018$1,587$1,240$424
22 years$3,010$2,378$1,860$1,443$1,111$357
23 years$2,849$2,224$1,718$1,314$997$300
24 years$2,701$2,084$1,588$1,199$897$253
25 years$2,565$1,955$1,471$1,095$807$213
26 years$2,440$1,838$1,365$1,001$727$180
27 years$2,325$1,730$1,267$916$655$152
28 years$2,218$1,630$1,178$839$591$128
29 years$2,118$1,537$1,096$770$534$108
30 years$2,025$1,452$1,021$706$482$91
31 years$1,939$1,373$952$649$436$77
32 years$1,858$1,299$888$596$394$65
33 years$1,782$1,230$829$548$357$55
34 years$1,711$1,166$775$504$323$46
35 years$1,644$1,106$724$464$293$39
36 years$1,580$1,049$678$428$265$33
37 years$1,521$997$634$394$240$28
38 years$1,464$947$594$363$218$24
39 years$1,411$901$556$335$198$20
40 years$1,360$857$522$309$179$17
41 years$1,312$816$489$285$163$14
42 years$1,267$777$459$263$148$12
43 years$1,223$740$430$243$134$10
44 years$1,182$706$404$224$122$9
45 years$1,143$673$379$207$110$7
46 years$1,105$642$356$191$100$6
47 years$1,070$613$335$177$91$5
48 years$1,035$585$315$163$83$4
49 years$1,003$558$296$151$75$4
50 years$971$533$278$139$68$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $995,000, adding $2,281 every year, while hoping to spend $39,027 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: 64/22/14 Blend
61$995,000$995,000$995,000$995,000
62$1,098,843$1,046,108$1,030,685$1,165,353
63$1,169,400$1,055,843$1,023,689$1,219,893
64$1,245,847$1,064,747$1,015,150$1,274,734
65$1,328,741$1,072,737$1,004,976$1,333,679
66$1,418,700$1,079,728$993,069$1,397,127
67$1,516,398$1,085,626$979,328$1,465,521
68$1,622,581$1,090,332$963,646$1,539,346
69$1,738,067$1,093,741$945,911$1,619,140
70$1,863,757$1,095,742$926,006$1,705,496
71$2,000,643$1,096,215$903,809$1,799,067
72$2,149,814$1,095,035$879,193$1,900,576
73$2,312,472$1,092,069$852,022$2,010,819
74$2,489,937$1,087,173$822,158$2,130,675
75$2,683,663$1,080,198$789,454$2,261,113
76$2,895,252$1,070,983$753,756$2,403,204
77$3,126,466$1,059,359$714,904$2,558,128
78$3,379,244$1,045,146$672,732$2,727,189
79$3,655,723$1,028,154$627,064$2,911,823
80$3,958,254$1,008,181$577,718$3,113,616
81$4,289,427$985,013$524,503$3,334,318
82$4,652,094$958,424$467,219$3,575,860
83$5,049,395$928,174$405,659$3,840,371
84$5,484,788$894,009$339,603$4,130,199
85$5,962,083$855,662$268,826$4,447,938
86$6,485,474$812,848$193,091$4,796,445
87$7,059,581$765,267$112,148$5,178,875
88$7,689,494$712,601$25,741$5,598,706
89$8,380,818$654,514$0$6,059,775
90$9,139,728$590,651$0$6,576,244
91$9,973,024$520,637$0$7,147,600
92$10,888,199$444,075$0$7,775,186
93$11,893,507$360,546$0$8,464,727
94$12,998,040$269,608$0$9,222,534
95$14,211,814$170,793$0$10,055,561
96$15,545,864$63,607$0$10,971,478
97$17,012,347$0$0$11,978,738
98$18,624,657$0$0$13,099,363
99$20,397,550$0$0$14,348,607
100$22,347,283$0$0$15,722,537