Can I retire at age 62 with 963,000?

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 $963,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$79,524$78,815$78,124$77,450$76,791$76,116
2 years$39,368$38,635$37,924$37,235$36,567$35,887
3 years$25,985$25,248$24,540$23,857$23,200$22,535
4 years$19,294$18,560$17,859$17,188$16,546$15,903
5 years$15,281$14,551$13,859$13,202$12,578$11,958
6 years$12,607$11,882$11,200$10,558$9,953$9,356
7 years$10,697$9,979$9,307$8,680$8,094$7,521
8 years$9,265$8,554$7,893$7,281$6,715$6,166
9 years$8,152$7,447$6,799$6,202$5,655$5,130
10 years$7,263$6,565$5,927$5,346$4,818$4,316
11 years$6,535$5,844$5,218$4,653$4,144$3,665
12 years$5,929$5,245$4,631$4,081$3,591$3,135
13 years$5,417$4,740$4,137$3,603$3,131$2,697
14 years$4,978$4,309$3,718$3,198$2,745$2,333
15 years$4,598$3,936$3,356$2,852$2,417$2,025
16 years$4,266$3,611$3,043$2,554$2,136$1,765
17 years$3,974$3,326$2,769$2,295$1,894$1,542
18 years$3,714$3,073$2,528$2,068$1,684$1,352
19 years$3,482$2,848$2,314$1,869$1,501$1,187
20 years$3,273$2,647$2,124$1,692$1,341$1,044
21 years$3,084$2,465$1,953$1,536$1,200$920
22 years$2,913$2,301$1,800$1,397$1,075$812
23 years$2,757$2,152$1,662$1,272$965$718
24 years$2,614$2,017$1,537$1,160$868$635
25 years$2,483$1,893$1,424$1,059$781$562
26 years$2,362$1,779$1,321$969$703$498
27 years$2,250$1,674$1,226$887$634$442
28 years$2,146$1,577$1,140$812$572$392
29 years$2,050$1,488$1,061$745$517$348
30 years$1,960$1,405$988$684$467$309
31 years$1,876$1,328$921$628$422$275
32 years$1,798$1,257$860$577$382$244
33 years$1,725$1,190$803$531$346$217
34 years$1,656$1,128$750$488$313$194
35 years$1,591$1,070$701$449$283$172
36 years$1,529$1,016$656$414$257$153
37 years$1,472$965$614$381$233$137
38 years$1,417$917$575$352$211$122
39 years$1,366$872$539$324$191$108
40 years$1,317$829$505$299$174$97
41 years$1,270$790$473$276$157$86
42 years$1,226$752$444$255$143$77
43 years$1,184$716$417$235$130$68
44 years$1,144$683$391$217$118$61
45 years$1,106$651$367$200$107$54
46 years$1,070$621$345$185$97$48
47 years$1,035$593$324$171$88$43
48 years$1,002$566$305$158$80$38
49 years$971$540$286$146$73$34
50 years$940$516$269$135$66$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $963,000, adding $2,458 every year, while hoping to spend $39,139 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: 58/33/9 Blend
61$963,000$963,000$963,000$963,000
62$1,063,761$1,012,722$997,796$1,123,099
63$1,130,621$1,020,702$989,578$1,171,293
64$1,202,990$1,027,761$979,774$1,219,182
65$1,281,386$1,033,813$968,288$1,270,422
66$1,366,383$1,038,766$955,021$1,325,339
67$1,458,610$1,042,521$939,871$1,384,291
68$1,558,760$1,044,976$922,728$1,447,674
69$1,667,593$1,046,019$903,478$1,515,926
70$1,785,946$1,045,533$882,004$1,589,531
71$1,914,742$1,043,394$858,181$1,669,023
72$2,054,994$1,039,469$831,878$1,754,993
73$2,207,818$1,033,617$802,960$1,848,092
74$2,374,440$1,025,689$771,284$1,949,040
75$2,556,214$1,015,528$736,703$2,058,633
76$2,754,624$1,002,966$699,059$2,177,748
77$2,971,310$987,825$658,192$2,307,356
78$3,208,072$969,917$613,930$2,448,528
79$3,466,896$949,043$566,096$2,602,446
80$3,749,965$924,992$514,506$2,770,416
81$4,059,684$897,540$458,965$2,953,881
82$4,398,702$866,450$399,271$3,154,433
83$4,769,936$831,471$335,212$3,373,829
84$5,176,596$792,340$266,568$3,614,010
85$5,622,219$748,775$193,109$3,877,118
86$6,110,701$700,481$114,594$4,165,518
87$6,646,330$647,143$30,771$4,481,820
88$7,233,833$588,429$0$4,828,905
89$7,878,413$523,991$0$5,215,588
90$8,585,801$453,457$0$5,643,263
91$9,362,313$376,437$0$6,112,871
92$10,214,903$292,516$0$6,628,716
93$11,151,233$201,259$0$7,195,543
94$12,179,742$102,204$0$7,818,586
95$13,309,728$0$0$8,503,620
96$14,551,433$0$0$9,258,878
97$15,916,143$0$0$10,129,828
98$17,416,287$0$0$11,087,302
99$19,065,562$0$0$12,140,051
100$20,879,056$0$0$13,297,718