Can I retire at age 62 with 951,000?

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 $951,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$78,533$77,833$77,151$76,485$75,834$73,202
2 years$38,878$38,154$37,452$36,771$36,111$33,487
3 years$25,661$24,934$24,234$23,560$22,911$20,376
4 years$19,054$18,329$17,636$16,974$16,340$13,915
5 years$15,091$14,370$13,686$13,037$12,421$10,112
6 years$12,449$11,734$11,061$10,426$9,829$7,636
7 years$10,564$9,854$9,191$8,572$7,993$5,918
8 years$9,150$8,447$7,795$7,191$6,631$4,672
9 years$8,051$7,355$6,714$6,125$5,584$3,738
10 years$7,172$6,483$5,853$5,280$4,758$3,022
11 years$6,454$5,771$5,153$4,595$4,092$2,462
12 years$5,855$5,180$4,573$4,030$3,546$2,019
13 years$5,350$4,681$4,086$3,558$3,092$1,663
14 years$4,916$4,255$3,671$3,159$2,711$1,376
15 years$4,541$3,887$3,315$2,817$2,387$1,142
16 years$4,213$3,566$3,005$2,522$2,109$951
17 years$3,924$3,284$2,735$2,266$1,870$793
18 years$3,668$3,035$2,496$2,042$1,663$662
19 years$3,438$2,813$2,285$1,845$1,482$554
20 years$3,232$2,614$2,097$1,671$1,324$464
21 years$3,046$2,435$1,929$1,517$1,185$389
22 years$2,877$2,273$1,778$1,379$1,062$327
23 years$2,723$2,126$1,642$1,256$953$275
24 years$2,581$1,992$1,518$1,146$857$231
25 years$2,452$1,869$1,406$1,046$771$194
26 years$2,332$1,756$1,304$957$695$163
27 years$2,222$1,653$1,211$876$626$137
28 years$2,120$1,558$1,126$802$565$116
29 years$2,024$1,469$1,048$736$510$97
30 years$1,936$1,388$976$675$461$82
31 years$1,853$1,312$910$620$417$69
32 years$1,776$1,241$849$570$377$58
33 years$1,703$1,176$793$524$341$49
34 years$1,635$1,114$741$482$309$41
35 years$1,571$1,057$692$444$280$35
36 years$1,510$1,003$648$409$254$29
37 years$1,453$953$606$377$230$25
38 years$1,399$905$568$347$208$21
39 years$1,348$861$532$320$189$18
40 years$1,300$819$499$295$171$15
41 years$1,254$780$467$272$155$13
42 years$1,211$743$438$251$141$11
43 years$1,169$707$411$232$128$9
44 years$1,130$674$386$214$116$7
45 years$1,092$643$363$198$105$6
46 years$1,057$613$341$183$96$5
47 years$1,022$585$320$169$87$4
48 years$990$559$301$156$79$4
49 years$958$534$283$144$72$3
50 years$929$510$266$133$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $951,000, adding $4,979 every year, while hoping to spend $29,121 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: 37/50/13 Blend
61$951,000$951,000$951,000$951,000
62$1,053,138$1,002,735$987,994$1,087,741
63$1,129,573$1,020,884$990,108$1,131,115
64$1,212,829$1,038,947$991,316$1,174,763
65$1,303,571$1,056,888$991,557$1,221,272
66$1,402,529$1,074,670$990,769$1,270,911
67$1,510,510$1,092,252$988,883$1,323,979
68$1,628,400$1,109,590$985,828$1,380,805
69$1,757,176$1,126,639$981,532$1,441,752
70$1,897,910$1,143,347$975,916$1,507,222
71$2,051,787$1,159,661$968,900$1,577,659
72$2,220,109$1,175,524$960,397$1,653,551
73$2,404,309$1,190,873$950,319$1,735,440
74$2,605,966$1,205,644$938,573$1,823,921
75$2,826,820$1,219,766$925,060$1,919,655
76$3,068,785$1,233,164$909,679$2,023,369
77$3,333,970$1,245,757$892,322$2,135,866
78$3,624,696$1,257,461$872,876$2,258,033
79$3,943,523$1,268,184$851,225$2,390,850
80$4,293,267$1,277,830$827,246$2,535,399
81$4,677,031$1,286,294$800,810$2,692,873
82$5,098,233$1,293,468$771,782$2,864,590
83$5,560,639$1,299,234$740,023$3,052,006
84$6,068,395$1,303,467$705,384$3,256,726
85$6,626,071$1,306,036$667,714$3,480,523
86$7,238,698$1,306,800$626,850$3,725,355
87$7,911,821$1,305,609$582,626$3,993,380
88$8,651,548$1,302,306$534,865$4,286,984
89$9,464,609$1,296,721$483,386$4,608,797
90$10,358,415$1,288,677$427,995$4,961,722
91$11,341,135$1,277,983$368,495$5,348,963
92$12,421,766$1,264,440$304,675$5,774,056
93$13,610,223$1,247,834$236,318$6,240,903
94$14,917,427$1,227,939$163,196$6,753,809
95$16,355,413$1,204,517$85,072$7,317,522
96$17,937,441$1,177,314$1,698$7,937,284
97$19,678,120$1,146,062$0$8,618,875
98$21,593,546$1,110,478$0$9,380,782
99$23,701,456$1,070,259$0$10,218,970
100$26,021,392$1,025,089$0$11,141,007