Can I retire at age 62 with 932,000?

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 $932,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$76,964$76,278$75,609$74,956$74,319$72,346
2 years$38,101$37,391$36,704$36,037$35,390$33,416
3 years$25,148$24,436$23,750$23,089$22,453$20,540
4 years$18,673$17,963$17,284$16,634$16,014$14,176
5 years$14,789$14,083$13,413$12,777$12,173$10,416
6 years$12,201$11,500$10,840$10,218$9,632$7,958
7 years$10,353$9,658$9,008$8,401$7,834$6,241
8 years$8,967$8,278$7,639$7,047$6,499$4,988
9 years$7,890$7,208$6,580$6,002$5,473$4,042
10 years$7,029$6,353$5,736$5,174$4,663$3,311
11 years$6,325$5,656$5,050$4,503$4,010$2,735
12 years$5,738$5,076$4,482$3,950$3,475$2,274
13 years$5,243$4,588$4,004$3,487$3,031$1,900
14 years$4,818$4,170$3,598$3,095$2,657$1,595
15 years$4,450$3,809$3,248$2,761$2,339$1,344
16 years$4,129$3,495$2,945$2,472$2,067$1,135
17 years$3,846$3,219$2,680$2,221$1,833$962
18 years$3,594$2,974$2,446$2,001$1,630$816
19 years$3,370$2,757$2,240$1,809$1,453$694
20 years$3,168$2,562$2,055$1,638$1,298$591
21 years$2,985$2,386$1,891$1,487$1,161$503
22 years$2,819$2,227$1,742$1,352$1,041$430
23 years$2,668$2,083$1,609$1,231$934$367
24 years$2,530$1,952$1,488$1,123$840$314
25 years$2,403$1,832$1,378$1,025$756$268
26 years$2,286$1,721$1,278$937$681$229
27 years$2,178$1,620$1,187$858$614$196
28 years$2,077$1,527$1,103$786$554$168
29 years$1,984$1,440$1,027$721$500$144
30 years$1,897$1,360$956$662$452$123
31 years$1,816$1,286$892$608$408$106
32 years$1,740$1,217$832$558$369$91
33 years$1,669$1,152$777$514$334$78
34 years$1,602$1,092$726$473$303$67
35 years$1,539$1,036$679$435$274$57
36 years$1,480$983$635$401$248$49
37 years$1,424$934$594$369$225$42
38 years$1,372$887$556$340$204$36
39 years$1,322$844$521$314$185$31
40 years$1,274$803$489$289$168$27
41 years$1,229$764$458$267$152$23
42 years$1,187$728$430$246$138$20
43 years$1,146$693$403$227$125$17
44 years$1,107$661$379$210$114$14
45 years$1,071$630$355$194$103$12
46 years$1,035$601$334$179$94$11
47 years$1,002$574$314$166$85$9
48 years$970$548$295$153$77$8
49 years$939$523$277$141$70$7
50 years$910$500$260$131$64$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $932,000, adding $5,378 every year, while hoping to spend $55,341 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: 72/5/23 Blend
61$932,000$932,000$932,000$932,000
62$1,032,611$983,215$968,769$1,100,702
63$1,079,055$972,511$942,341$1,136,095
64$1,128,382$959,426$913,172$1,167,768
65$1,180,826$943,788$881,113$1,201,099
66$1,236,647$925,410$846,006$1,236,245
67$1,296,125$904,095$807,688$1,273,381
68$1,359,571$879,636$765,986$1,312,701
69$1,427,322$851,813$720,721$1,354,420
70$1,499,749$820,393$671,706$1,398,774
71$1,577,259$785,128$618,744$1,446,028
72$1,660,299$745,758$561,631$1,496,472
73$1,749,356$702,008$500,153$1,550,431
74$1,844,968$653,584$434,086$1,608,260
75$1,947,724$600,178$363,197$1,670,357
76$2,058,270$541,465$287,241$1,737,159
77$2,177,315$477,098$205,966$1,809,150
78$2,305,640$406,715$119,104$1,886,869
79$2,444,100$329,929$26,380$1,970,907
80$2,593,637$246,334$0$2,061,922
81$2,755,284$155,501$0$2,178,450
82$2,930,178$56,975$0$2,311,551
83$3,119,567$0$0$2,455,708
84$3,324,825$0$0$2,614,721
85$3,547,462$0$0$2,790,635
86$3,789,138$0$0$2,981,633
87$4,051,680$0$0$3,189,162
88$4,337,097$0$0$3,414,817
89$4,647,599$0$0$3,660,349
90$4,985,618$0$0$3,927,689
91$5,353,829$0$0$4,218,958
92$5,755,179$0$0$4,536,491
93$6,192,906$0$0$4,882,860
94$6,670,578$0$0$5,260,893
95$7,192,122$0$0$5,673,704
96$7,761,860$0$0$6,124,723
97$8,384,549$0$0$6,617,724
98$9,065,428$0$0$7,156,861
99$9,810,266$0$0$7,746,710
100$10,625,411$0$0$8,392,309