Can I retire at age 62 with 955,000?

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 $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$78,863$78,161$77,475$76,806$76,153$73,893
2 years$39,041$38,314$37,609$36,926$36,263$34,005
3 years$25,769$25,039$24,336$23,659$23,007$20,821
4 years$19,134$18,406$17,710$17,045$16,409$14,312
5 years$15,154$14,431$13,744$13,092$12,474$10,472
6 years$12,502$11,784$11,107$10,470$9,870$7,965
7 years$10,608$9,896$9,230$8,608$8,027$6,219
8 years$9,188$8,483$7,828$7,221$6,659$4,947
9 years$8,085$7,386$6,742$6,151$5,608$3,990
10 years$7,202$6,510$5,878$5,302$4,778$3,252
11 years$6,481$5,796$5,175$4,614$4,109$2,672
12 years$5,880$5,202$4,592$4,047$3,561$2,210
13 years$5,372$4,701$4,103$3,573$3,105$1,837
14 years$4,937$4,273$3,687$3,172$2,722$1,533
15 years$4,560$3,903$3,329$2,829$2,397$1,285
16 years$4,231$3,581$3,018$2,533$2,118$1,079
17 years$3,941$3,298$2,746$2,276$1,878$909
18 years$3,683$3,048$2,507$2,051$1,670$767
19 years$3,453$2,825$2,295$1,853$1,489$648
20 years$3,246$2,625$2,106$1,678$1,330$548
21 years$3,059$2,445$1,937$1,523$1,190$464
22 years$2,889$2,282$1,785$1,385$1,067$394
23 years$2,734$2,134$1,649$1,261$957$334
24 years$2,592$2,000$1,525$1,150$861$284
25 years$2,462$1,877$1,412$1,051$774$241
26 years$2,342$1,764$1,310$961$697$205
27 years$2,231$1,660$1,216$879$629$174
28 years$2,128$1,564$1,131$806$567$148
29 years$2,033$1,476$1,052$739$512$126
30 years$1,944$1,394$980$678$463$107
31 years$1,861$1,317$914$623$419$92
32 years$1,783$1,247$852$572$379$78
33 years$1,710$1,181$796$526$343$66
34 years$1,642$1,119$744$484$310$57
35 years$1,577$1,061$695$446$281$48
36 years$1,517$1,007$650$411$255$41
37 years$1,460$957$609$378$231$35
38 years$1,405$909$570$349$209$30
39 years$1,354$865$534$321$190$25
40 years$1,306$823$501$296$172$22
41 years$1,260$783$469$274$156$18
42 years$1,216$746$440$252$142$16
43 years$1,174$710$413$233$129$13
44 years$1,135$677$388$215$117$11
45 years$1,097$646$364$199$106$10
46 years$1,061$616$342$184$96$8
47 years$1,027$588$321$170$87$7
48 years$994$561$302$157$79$6
49 years$962$536$284$145$72$5
50 years$932$512$267$134$65$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $955,000, adding $6,093 every year, while hoping to spend $22,725 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: 34/44/22 Blend
61$955,000$955,000$955,000$955,000
62$1,058,695$1,008,080$993,277$1,087,403
63$1,142,503$1,033,297$1,002,373$1,134,449
64$1,234,097$1,058,987$1,011,012$1,182,638
65$1,334,248$1,085,151$1,019,154$1,234,140
66$1,443,805$1,111,787$1,026,759$1,289,263
67$1,563,700$1,138,891$1,033,782$1,348,346
68$1,694,962$1,166,462$1,040,179$1,411,762
69$1,838,724$1,194,494$1,045,901$1,479,923
70$1,996,232$1,222,983$1,050,896$1,553,281
71$2,168,860$1,251,921$1,055,113$1,632,337
72$2,358,119$1,281,300$1,058,495$1,717,640
73$2,565,676$1,311,113$1,060,984$1,809,798
74$2,793,365$1,341,348$1,062,517$1,909,478
75$3,043,207$1,371,993$1,063,030$2,017,418
76$3,317,428$1,403,034$1,062,455$2,134,431
77$3,618,480$1,434,457$1,060,722$2,261,410
78$3,949,063$1,466,243$1,057,754$2,399,345
79$4,312,153$1,498,375$1,053,474$2,549,322
80$4,711,027$1,530,829$1,047,800$2,712,541
81$5,149,296$1,563,584$1,040,645$2,890,325
82$5,630,937$1,596,613$1,031,920$3,084,132
83$6,160,332$1,629,886$1,021,529$3,295,569
84$6,742,310$1,663,375$1,009,374$3,526,407
85$7,382,188$1,697,043$995,351$3,778,601
86$8,085,827$1,730,854$979,351$4,054,305
87$8,859,684$1,764,767$961,261$4,355,892
88$9,710,870$1,798,739$940,961$4,685,981
89$10,647,223$1,832,722$918,328$5,047,458
90$11,677,378$1,866,664$893,231$5,443,505
91$12,810,850$1,900,509$865,533$5,877,630
92$14,058,120$1,934,198$835,092$6,353,701
93$15,430,740$1,967,666$801,760$6,875,981
94$16,941,436$2,000,842$765,379$7,449,173
95$18,604,231$2,033,652$725,788$8,078,457
96$20,434,576$2,066,014$682,815$8,769,548
97$22,449,497$2,097,843$636,284$9,528,745
98$24,667,754$2,129,045$586,007$10,362,990
99$27,110,017$2,159,521$531,791$11,279,941
100$29,799,066$2,189,164$473,432$12,288,034