Can I retire at age 62 with 964,000?

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 $964,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.5%
1 years$79,606$78,897$78,205$77,530$76,871$76,386
2 years$39,409$38,675$37,964$37,274$36,605$36,116
3 years$26,012$25,275$24,565$23,882$23,224$22,746
4 years$19,314$18,579$17,877$17,206$16,563$16,100
5 years$15,297$14,567$13,873$13,215$12,591$12,144
6 years$12,620$11,895$11,212$10,569$9,963$9,532
7 years$10,708$9,989$9,317$8,689$8,103$7,689
8 years$9,275$8,563$7,902$7,289$6,722$6,325
9 years$8,161$7,455$6,806$6,209$5,661$5,280
10 years$7,270$6,571$5,933$5,352$4,823$4,459
11 years$6,542$5,850$5,224$4,658$4,148$3,800
12 years$5,935$5,251$4,636$4,085$3,595$3,263
13 years$5,423$4,745$4,142$3,607$3,135$2,818
14 years$4,984$4,313$3,721$3,202$2,748$2,447
15 years$4,603$3,940$3,360$2,855$2,419$2,133
16 years$4,271$3,615$3,046$2,557$2,138$1,866
17 years$3,978$3,329$2,772$2,297$1,896$1,638
18 years$3,718$3,076$2,530$2,070$1,686$1,441
19 years$3,485$2,851$2,317$1,871$1,503$1,271
20 years$3,276$2,650$2,126$1,694$1,342$1,123
21 years$3,088$2,468$1,955$1,538$1,201$994
22 years$2,916$2,304$1,802$1,398$1,077$881
23 years$2,760$2,155$1,664$1,273$966$782
24 years$2,617$2,019$1,539$1,161$869$695
25 years$2,485$1,894$1,425$1,061$782$619
26 years$2,364$1,781$1,322$970$704$551
27 years$2,252$1,676$1,228$888$635$491
28 years$2,149$1,579$1,141$813$573$438
29 years$2,052$1,490$1,062$746$517$391
30 years$1,962$1,407$989$684$467$349
31 years$1,878$1,330$922$629$422$311
32 years$1,800$1,258$860$578$382$278
33 years$1,726$1,192$803$531$346$249
34 years$1,657$1,129$751$489$313$222
35 years$1,592$1,071$702$450$284$199
36 years$1,531$1,017$657$414$257$178
37 years$1,473$966$614$382$233$159
38 years$1,419$918$575$352$211$143
39 years$1,367$873$539$324$191$128
40 years$1,318$830$505$299$174$114
41 years$1,271$790$474$276$158$102
42 years$1,227$753$444$255$143$92
43 years$1,185$717$417$235$130$82
44 years$1,145$684$392$217$118$74
45 years$1,107$652$368$201$107$66
46 years$1,071$622$345$185$97$59
47 years$1,036$593$324$171$88$53
48 years$1,003$567$305$158$80$48
49 years$972$541$287$146$73$43
50 years$941$517$269$135$66$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $964,000, adding $5,627 every year, while hoping to spend $25,617 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: 86/9/5 Blend
61$964,000$964,000$964,000$964,000
62$1,068,132$1,017,040$1,002,098$1,159,548
63$1,149,825$1,039,619$1,008,412$1,242,529
64$1,238,993$1,062,445$1,014,079$1,329,564
65$1,336,370$1,085,505$1,019,050$1,424,366
66$1,442,765$1,108,780$1,023,275$1,527,701
67$1,559,071$1,132,254$1,026,698$1,640,408
68$1,686,268$1,155,907$1,029,264$1,763,412
69$1,825,437$1,179,715$1,030,914$1,897,732
70$1,977,766$1,203,656$1,031,584$2,044,489
71$2,144,566$1,227,704$1,031,210$2,204,921
72$2,327,280$1,251,829$1,029,724$2,380,386
73$2,527,495$1,276,001$1,027,053$2,572,385
74$2,746,962$1,300,188$1,023,121$2,782,568
75$2,987,607$1,324,351$1,017,850$3,012,754
76$3,251,551$1,348,453$1,011,157$3,264,946
77$3,541,133$1,372,451$1,002,954$3,541,351
78$3,858,927$1,396,300$993,152$3,844,400
79$4,207,769$1,419,950$981,654$4,176,771
80$4,590,783$1,443,349$968,360$4,541,415
81$5,011,409$1,466,439$953,167$4,941,582
82$5,473,439$1,489,161$935,964$5,380,854
83$5,981,048$1,511,448$916,637$5,863,176
84$6,538,837$1,533,230$895,066$6,392,895
85$7,151,873$1,554,434$871,126$6,974,801
86$7,825,741$1,574,977$844,685$7,614,171
87$8,566,590$1,594,776$815,606$8,316,820
88$9,381,200$1,613,737$783,746$9,089,155
89$10,277,035$1,631,762$748,954$9,938,235
90$11,262,322$1,648,748$711,073$10,871,838
91$12,346,125$1,664,583$669,940$11,898,535
92$13,538,430$1,679,148$625,383$13,027,770
93$14,850,239$1,692,316$577,223$14,269,951
94$16,293,676$1,703,952$525,273$15,636,543
95$17,882,098$1,713,912$469,337$17,140,183
96$19,630,223$1,722,045$409,210$18,794,794
97$21,554,267$1,728,186$344,680$20,615,718
98$23,672,099$1,732,164$275,524$22,619,863
99$26,003,408$1,733,795$201,509$24,825,859
100$28,569,888$1,732,884$122,392$27,254,235