Can I retire at age 62 with 939,000?

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 $939,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$77,542$76,851$76,177$75,519$74,877$73,276
2 years$38,387$37,672$36,979$36,307$35,656$34,050
3 years$25,337$24,619$23,928$23,263$22,622$21,062
4 years$18,813$18,098$17,413$16,759$16,134$14,632
5 years$14,900$14,189$13,514$12,873$12,265$10,825
6 years$12,292$11,586$10,921$10,294$9,705$8,329
7 years$10,430$9,730$9,075$8,464$7,892$6,580
8 years$9,034$8,340$7,697$7,100$6,548$5,299
9 years$7,949$7,262$6,629$6,048$5,514$4,328
10 years$7,082$6,401$5,779$5,213$4,698$3,574
11 years$6,372$5,698$5,088$4,537$4,041$2,976
12 years$5,781$5,115$4,516$3,979$3,502$2,496
13 years$5,282$4,622$4,034$3,513$3,053$2,104
14 years$4,854$4,201$3,625$3,119$2,677$1,782
15 years$4,484$3,838$3,273$2,781$2,357$1,515
16 years$4,160$3,521$2,967$2,490$2,083$1,292
17 years$3,875$3,243$2,700$2,238$1,847$1,105
18 years$3,621$2,997$2,465$2,017$1,642$946
19 years$3,395$2,777$2,256$1,822$1,464$812
20 years$3,191$2,581$2,071$1,650$1,307$699
21 years$3,007$2,404$1,905$1,498$1,170$601
22 years$2,840$2,244$1,756$1,362$1,049$518
23 years$2,688$2,099$1,621$1,240$941$447
24 years$2,549$1,966$1,499$1,131$846$386
25 years$2,421$1,845$1,388$1,033$761$334
26 years$2,303$1,734$1,288$945$686$288
27 years$2,194$1,632$1,196$865$618$250
28 years$2,093$1,538$1,112$792$558$216
29 years$1,999$1,451$1,034$726$504$187
30 years$1,911$1,370$964$667$455$162
31 years$1,830$1,295$898$612$412$140
32 years$1,753$1,226$838$563$372$122
33 years$1,682$1,161$783$517$337$105
34 years$1,614$1,100$731$476$305$91
35 years$1,551$1,043$684$438$276$79
36 years$1,491$990$639$404$250$69
37 years$1,435$941$599$372$227$60
38 years$1,382$894$561$343$206$52
39 years$1,331$850$525$316$187$45
40 years$1,284$809$492$292$169$39
41 years$1,238$770$462$269$153$34
42 years$1,195$733$433$248$139$29
43 years$1,155$699$406$229$126$25
44 years$1,116$666$381$212$115$22
45 years$1,079$635$358$195$104$19
46 years$1,043$606$336$180$95$17
47 years$1,009$578$316$167$86$14
48 years$977$552$297$154$78$13
49 years$946$527$279$142$71$11
50 years$917$503$262$132$64$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $939,000, adding $2,964 every year, while hoping to spend $20,945 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: 32/43/25 Blend
61$939,000$939,000$939,000$939,000
62$1,037,835$988,068$973,514$1,063,012
63$1,121,409$1,014,198$983,841$1,108,512
64$1,212,806$1,040,907$993,813$1,155,409
65$1,312,800$1,068,200$1,003,394$1,205,503
66$1,422,248$1,096,083$1,012,549$1,259,088
67$1,542,088$1,124,563$1,021,241$1,316,488
68$1,673,358$1,153,643$1,029,429$1,378,061
69$1,817,197$1,183,328$1,037,072$1,444,200
70$1,974,863$1,213,622$1,044,125$1,515,339
71$2,147,738$1,244,529$1,050,542$1,591,955
72$2,337,346$1,276,050$1,056,275$1,674,574
73$2,545,367$1,308,188$1,061,271$1,763,775
74$2,773,648$1,340,943$1,065,478$1,860,198
75$3,024,227$1,374,316$1,068,838$1,964,545
76$3,299,347$1,408,306$1,071,293$2,077,592
77$3,601,478$1,442,911$1,072,779$2,200,194
78$3,933,342$1,478,127$1,073,231$2,333,292
79$4,297,940$1,513,952$1,072,580$2,477,924
80$4,698,572$1,550,379$1,070,755$2,635,234
81$5,138,881$1,587,401$1,067,679$2,806,483
82$5,622,874$1,625,011$1,063,273$2,993,061
83$6,154,968$1,663,198$1,057,454$3,196,499
84$6,740,031$1,701,951$1,050,135$3,418,486
85$7,383,424$1,741,256$1,041,224$3,660,883
86$8,091,054$1,781,098$1,030,626$3,925,741
87$8,869,430$1,821,461$1,018,241$4,215,323
88$9,725,723$1,862,323$1,003,962$4,532,120
89$10,667,833$1,903,663$987,682$4,878,881
90$11,704,466$1,945,457$969,283$5,258,635
91$12,845,214$1,987,676$948,646$5,674,721
92$14,100,645$2,030,292$925,645$6,130,820
93$15,482,405$2,073,270$900,148$6,630,989
94$17,003,324$2,116,574$872,017$7,179,701
95$18,677,541$2,160,164$841,108$7,781,887
96$20,520,634$2,203,996$807,269$8,442,981
97$22,549,769$2,248,023$770,343$9,168,975
98$24,783,861$2,292,191$730,165$9,966,473
99$27,243,752$2,336,446$686,562$10,842,754
100$29,952,408$2,380,725$639,355$11,805,843