Can I retire at age 62 with 901,000?

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 $901,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$74,404$73,741$73,094$72,463$71,847$70,803
2 years$36,834$36,148$35,483$34,838$34,213$33,163
3 years$24,312$23,623$22,960$22,321$21,706$20,683
4 years$18,052$17,365$16,709$16,081$15,481$14,493
5 years$14,297$13,615$12,967$12,352$11,768$10,818
6 years$11,795$11,117$10,479$9,878$9,312$8,400
7 years$10,008$9,336$8,708$8,121$7,573$6,701
8 years$8,669$8,003$7,385$6,813$6,283$5,449
9 years$7,628$6,968$6,361$5,803$5,291$4,496
10 years$6,795$6,142$5,546$5,002$4,508$3,752
11 years$6,114$5,468$4,882$4,353$3,877$3,158
12 years$5,548$4,908$4,333$3,818$3,360$2,677
13 years$5,068$4,435$3,871$3,371$2,930$2,283
14 years$4,658$4,031$3,478$2,993$2,568$1,956
15 years$4,302$3,683$3,140$2,669$2,261$1,682
16 years$3,992$3,379$2,847$2,390$1,999$1,452
17 years$3,718$3,112$2,591$2,147$1,772$1,256
18 years$3,475$2,875$2,365$1,935$1,576$1,090
19 years$3,258$2,665$2,165$1,748$1,404$947
20 years$3,062$2,476$1,987$1,583$1,254$825
21 years$2,886$2,307$1,828$1,437$1,123$719
22 years$2,726$2,153$1,685$1,307$1,006$628
23 years$2,579$2,014$1,555$1,190$903$549
24 years$2,446$1,887$1,438$1,085$812$481
25 years$2,323$1,771$1,332$991$731$421
26 years$2,210$1,664$1,236$906$658$369
27 years$2,105$1,566$1,147$830$593$324
28 years$2,008$1,476$1,067$760$535$284
29 years$1,918$1,392$993$697$483$249
30 years$1,834$1,315$925$640$437$219
31 years$1,756$1,243$862$587$395$192
32 years$1,682$1,176$804$540$357$169
33 years$1,614$1,114$751$496$323$149
34 years$1,549$1,056$702$457$293$131
35 years$1,488$1,001$656$421$265$115
36 years$1,431$950$614$387$240$101
37 years$1,377$903$574$357$218$89
38 years$1,326$858$538$329$197$78
39 years$1,278$816$504$303$179$69
40 years$1,232$776$472$280$162$61
41 years$1,188$739$443$258$147$53
42 years$1,147$704$415$238$134$47
43 years$1,108$670$390$220$121$41
44 years$1,071$639$366$203$110$36
45 years$1,035$609$344$187$100$32
46 years$1,001$581$323$173$91$28
47 years$969$555$303$160$82$25
48 years$938$530$285$148$75$22
49 years$908$506$268$137$68$19
50 years$880$483$252$126$62$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $901,000, adding $2,600 every year, while hoping to spend $45,184 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: 62/29/9 Blend
61$901,000$901,000$901,000$901,000
62$995,584$947,831$933,865$1,055,210
63$1,049,058$946,199$917,074$1,093,772
64$1,106,472$942,973$898,207$1,130,385
65$1,168,180$938,027$877,145$1,169,208
66$1,234,572$931,227$853,766$1,210,456
67$1,306,073$922,432$827,942$1,254,365
68$1,383,153$911,492$799,538$1,301,196
69$1,466,326$898,247$768,415$1,351,242
70$1,556,159$882,529$734,425$1,404,823
71$1,653,274$864,159$697,414$1,462,296
72$1,758,353$842,948$657,223$1,524,056
73$1,872,149$818,696$613,684$1,590,539
74$1,995,487$791,191$566,621$1,662,230
75$2,129,275$760,208$515,851$1,739,663
76$2,274,512$725,509$461,183$1,823,431
77$2,432,297$686,844$402,418$1,914,190
78$2,603,839$643,946$339,346$2,012,666
79$2,790,466$596,535$271,749$2,119,661
80$2,993,642$544,314$199,401$2,236,063
81$3,214,976$486,968$122,064$2,362,855
82$3,456,239$424,165$39,489$2,501,123
83$3,719,382$355,556$0$2,652,068
84$4,006,549$280,768$0$2,821,690
85$4,320,102$199,411$0$3,011,136
86$4,662,642$111,072$0$3,218,262
87$5,037,031$15,314$0$3,444,890
88$5,446,419$0$0$3,693,032
89$5,894,277$0$0$3,993,098
90$6,384,424$0$0$4,326,912
91$6,921,068$0$0$4,692,460
92$7,508,841$0$0$5,092,907
93$8,152,843$0$0$5,531,736
94$8,858,695$0$0$6,012,786
95$9,632,582$0$0$6,540,282
96$10,481,320$0$0$7,118,879
97$11,412,415$0$0$7,753,706
98$12,434,136$0$0$8,450,409
99$13,555,587$0$0$9,215,209
100$14,786,802$0$0$10,054,959