Can I retire at age 62 with 967,000?

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 $967,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.5%
1 years$79,854$79,143$78,449$77,771$77,110$76,305
2 years$39,532$38,795$38,082$37,390$36,719$35,908
3 years$26,093$25,353$24,642$23,956$23,296$22,505
4 years$19,374$18,637$17,933$17,259$16,615$15,849
5 years$15,345$14,612$13,917$13,257$12,630$11,892
6 years$12,659$11,932$11,247$10,601$9,994$9,285
7 years$10,741$10,020$9,346$8,716$8,128$7,448
8 years$9,304$8,589$7,926$7,312$6,743$6,092
9 years$8,186$7,478$6,827$6,228$5,678$5,056
10 years$7,293$6,592$5,952$5,369$4,838$4,244
11 years$6,562$5,868$5,240$4,672$4,161$3,595
12 years$5,954$5,267$4,650$4,098$3,606$3,067
13 years$5,440$4,760$4,155$3,618$3,144$2,632
14 years$4,999$4,327$3,733$3,212$2,756$2,270
15 years$4,618$3,952$3,370$2,864$2,427$1,966
16 years$4,284$3,626$3,056$2,565$2,145$1,708
17 years$3,990$3,340$2,781$2,304$1,902$1,489
18 years$3,729$3,086$2,538$2,077$1,691$1,301
19 years$3,496$2,860$2,324$1,876$1,507$1,139
20 years$3,287$2,658$2,133$1,699$1,346$999
21 years$3,097$2,476$1,962$1,542$1,205$878
22 years$2,925$2,311$1,808$1,402$1,080$773
23 years$2,768$2,161$1,669$1,277$969$681
24 years$2,625$2,025$1,544$1,165$871$600
25 years$2,493$1,900$1,430$1,064$784$530
26 years$2,372$1,786$1,326$973$706$468
27 years$2,259$1,681$1,231$890$637$414
28 years$2,155$1,584$1,145$816$575$366
29 years$2,059$1,494$1,065$748$519$324
30 years$1,968$1,411$992$687$469$287
31 years$1,884$1,334$925$631$424$254
32 years$1,806$1,262$863$579$383$225
33 years$1,732$1,195$806$533$347$200
34 years$1,662$1,133$753$490$314$177
35 years$1,597$1,075$704$451$285$157
36 years$1,536$1,020$659$416$258$139
37 years$1,478$969$616$383$234$124
38 years$1,423$921$577$353$212$110
39 years$1,371$875$541$325$192$97
40 years$1,322$833$507$300$174$87
41 years$1,275$793$475$277$158$77
42 years$1,231$755$446$256$143$68
43 years$1,189$719$418$236$130$61
44 years$1,149$686$393$218$118$54
45 years$1,111$654$369$201$107$48
46 years$1,074$624$346$186$97$42
47 years$1,040$595$325$172$88$38
48 years$1,006$568$306$159$80$34
49 years$975$543$287$147$73$30
50 years$944$518$270$136$66$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $967,000, adding $3,802 every year, while hoping to spend $55,480 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: 56/35/9 Blend
61$967,000$967,000$967,000$967,000
62$1,069,556$1,018,305$1,003,316$1,126,935
63$1,119,620$1,009,171$977,897$1,156,979
64$1,172,932$997,731$949,767$1,183,205
65$1,229,763$983,812$918,776$1,210,432
66$1,290,413$967,233$884,769$1,238,763
67$1,355,208$947,800$847,582$1,268,313
68$1,424,507$925,310$807,044$1,299,214
69$1,498,703$899,547$762,976$1,331,612
70$1,578,228$870,282$715,193$1,365,672
71$1,663,553$837,272$663,498$1,401,579
72$1,755,199$800,262$607,689$1,439,540
73$1,853,735$758,980$547,552$1,479,788
74$1,959,786$713,140$482,865$1,522,583
75$2,074,038$662,438$413,395$1,568,216
76$2,197,246$606,554$338,900$1,617,011
77$2,330,239$545,149$259,127$1,669,334
78$2,473,927$477,864$173,811$1,725,589
79$2,629,309$404,322$82,676$1,786,230
80$2,797,487$324,121$0$1,851,761
81$2,979,668$236,841$0$1,924,146
82$3,177,183$142,034$0$2,011,177
83$3,391,491$39,230$0$2,105,634
84$3,624,202$0$0$2,208,326
85$3,877,083$0$0$2,347,909
86$4,152,078$0$0$2,516,206
87$4,451,329$0$0$2,699,427
88$4,777,189$0$0$2,899,023
89$5,132,249$0$0$3,116,591
90$5,519,360$0$0$3,353,891
91$5,941,661$0$0$3,612,856
92$6,402,605$0$0$3,895,618
93$6,905,995$0$0$4,204,520
94$7,456,016$0$0$4,542,143
95$8,057,275$0$0$4,911,331
96$8,714,847$0$0$5,315,210
97$9,434,316$0$0$5,757,228
98$10,221,834$0$0$6,241,177
99$11,084,173$0$0$6,771,236
100$12,028,791$0$0$7,352,004