Can I retire at age 62 with 899,000?

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 $899,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$74,239$73,577$72,932$72,302$71,688$69,282
2 years$36,752$36,067$35,404$34,761$34,137$31,737
3 years$24,258$23,570$22,909$22,272$21,658$19,339
4 years$18,012$17,327$16,672$16,045$15,447$13,227
5 years$14,266$13,584$12,938$12,324$11,742$9,627
6 years$11,769$11,093$10,456$9,856$9,291$7,282
7 years$9,986$9,316$8,689$8,103$7,556$5,654
8 years$8,650$7,985$7,369$6,797$6,269$4,471
9 years$7,611$6,953$6,347$5,790$5,279$3,584
10 years$6,780$6,128$5,533$4,991$4,498$2,902
11 years$6,101$5,456$4,871$4,344$3,868$2,369
12 years$5,535$4,897$4,323$3,810$3,352$1,947
13 years$5,057$4,425$3,862$3,364$2,923$1,607
14 years$4,647$4,022$3,470$2,986$2,563$1,333
15 years$4,293$3,675$3,133$2,663$2,256$1,108
16 years$3,983$3,371$2,841$2,384$1,994$924
17 years$3,710$3,105$2,585$2,142$1,768$773
18 years$3,467$2,869$2,360$1,931$1,572$647
19 years$3,250$2,659$2,160$1,744$1,401$543
20 years$3,055$2,471$1,983$1,580$1,252$456
21 years$2,879$2,302$1,824$1,434$1,120$383
22 years$2,719$2,148$1,681$1,304$1,004$322
23 years$2,574$2,009$1,552$1,187$901$271
24 years$2,440$1,883$1,435$1,083$810$229
25 years$2,318$1,767$1,329$989$729$193
26 years$2,205$1,660$1,233$904$657$163
27 years$2,100$1,563$1,145$828$592$137
28 years$2,004$1,473$1,064$758$534$116
29 years$1,914$1,389$990$695$482$98
30 years$1,830$1,312$923$638$436$82
31 years$1,752$1,240$860$586$394$70
32 years$1,679$1,173$802$539$356$59
33 years$1,610$1,111$749$495$323$50
34 years$1,546$1,053$700$456$292$42
35 years$1,485$999$654$420$265$35
36 years$1,428$948$612$386$240$30
37 years$1,374$901$573$356$217$25
38 years$1,323$856$537$328$197$21
39 years$1,275$814$503$303$179$18
40 years$1,229$774$471$279$162$15
41 years$1,186$737$442$258$147$13
42 years$1,145$702$415$238$133$11
43 years$1,105$669$389$219$121$9
44 years$1,068$638$365$203$110$8
45 years$1,033$608$343$187$100$7
46 years$999$580$322$173$91$6
47 years$966$553$302$160$82$5
48 years$936$528$284$148$75$4
49 years$906$505$267$136$68$3
50 years$878$482$251$126$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $899,000, adding $6,391 every year, while hoping to spend $45,848 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: 31/46/23 Blend
61$899,000$899,000$899,000$899,000
62$997,290$949,643$935,709$1,020,950
63$1,050,232$947,394$918,273$1,037,232
64$1,107,037$943,498$898,717$1,050,204
65$1,168,051$937,825$876,920$1,063,227
66$1,233,654$930,240$852,758$1,076,336
67$1,304,262$920,597$826,101$1,089,572
68$1,380,332$908,742$796,811$1,102,983
69$1,462,367$894,511$764,745$1,116,630
70$1,550,918$877,732$729,754$1,130,581
71$1,646,593$858,222$691,682$1,144,919
72$1,750,057$835,787$650,364$1,159,739
73$1,862,043$810,220$605,632$1,175,152
74$1,983,356$781,306$557,305$1,191,284
75$2,114,882$748,813$505,198$1,208,285
76$2,257,593$712,499$449,116$1,226,322
77$2,412,562$672,106$388,856$1,245,589
78$2,580,966$627,361$324,205$1,266,307
79$2,764,099$577,977$254,941$1,288,726
80$2,963,389$523,649$180,833$1,313,133
81$3,180,403$464,056$101,639$1,339,849
82$3,416,866$398,857$17,106$1,369,241
83$3,674,679$327,694$0$1,401,721
84$3,955,931$250,186$0$1,455,697
85$4,262,924$165,933$0$1,519,399
86$4,598,190$74,511$0$1,589,283
87$4,964,517$0$0$1,666,087
88$5,364,975$0$0$1,763,045
89$5,802,943$0$0$1,910,467
90$6,282,142$0$0$2,071,905
91$6,806,670$0$0$2,248,757
92$7,381,037$0$0$2,442,561
93$8,010,212$0$0$2,655,013
94$8,699,667$0$0$2,887,980
95$9,455,428$0$0$3,143,517
96$10,284,130$0$0$3,423,889
97$11,193,084$0$0$3,731,590
98$12,190,341$0$0$4,069,369
99$13,284,768$0$0$4,440,252
100$14,486,133$0$0$4,847,572