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%19.9%
1 years$74,404$73,741$73,094$72,463$71,847$68,996
2 years$36,834$36,148$35,483$34,838$34,213$31,376
3 years$24,312$23,623$22,960$22,321$21,706$18,973
4 years$18,052$17,365$16,709$16,081$15,481$12,872
5 years$14,297$13,615$12,967$12,352$11,768$9,290
6 years$11,795$11,117$10,479$9,878$9,312$6,966
7 years$10,008$9,336$8,708$8,121$7,573$5,359
8 years$8,669$8,003$7,385$6,813$6,283$4,197
9 years$7,628$6,968$6,361$5,803$5,291$3,332
10 years$6,795$6,142$5,546$5,002$4,508$2,671
11 years$6,114$5,468$4,882$4,353$3,877$2,158
12 years$5,548$4,908$4,333$3,818$3,360$1,754
13 years$5,068$4,435$3,871$3,371$2,930$1,433
14 years$4,658$4,031$3,478$2,993$2,568$1,175
15 years$4,302$3,683$3,140$2,669$2,261$966
16 years$3,992$3,379$2,847$2,390$1,999$796
17 years$3,718$3,112$2,591$2,147$1,772$658
18 years$3,475$2,875$2,365$1,935$1,576$544
19 years$3,258$2,665$2,165$1,748$1,404$451
20 years$3,062$2,476$1,987$1,583$1,254$374
21 years$2,886$2,307$1,828$1,437$1,123$311
22 years$2,726$2,153$1,685$1,307$1,006$258
23 years$2,579$2,014$1,555$1,190$903$215
24 years$2,446$1,887$1,438$1,085$812$178
25 years$2,323$1,771$1,332$991$731$149
26 years$2,210$1,664$1,236$906$658$124
27 years$2,105$1,566$1,147$830$593$103
28 years$2,008$1,476$1,067$760$535$86
29 years$1,918$1,392$993$697$483$71
30 years$1,834$1,315$925$640$437$60
31 years$1,756$1,243$862$587$395$50
32 years$1,682$1,176$804$540$357$41
33 years$1,614$1,114$751$496$323$34
34 years$1,549$1,056$702$457$293$29
35 years$1,488$1,001$656$421$265$24
36 years$1,431$950$614$387$240$20
37 years$1,377$903$574$357$218$17
38 years$1,326$858$538$329$197$14
39 years$1,278$816$504$303$179$12
40 years$1,232$776$472$280$162$10
41 years$1,188$739$443$258$147$8
42 years$1,147$704$415$238$134$7
43 years$1,108$670$390$220$121$6
44 years$1,071$639$366$203$110$5
45 years$1,035$609$344$187$100$4
46 years$1,001$581$323$173$91$3
47 years$969$555$303$160$82$3
48 years$938$530$285$148$75$2
49 years$908$506$268$137$68$2
50 years$880$483$252$126$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $901,000, adding $5,014 every year, while hoping to spend $35,231 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: 69/22/9 Blend
61$901,000$901,000$901,000$901,000
62$998,074$950,321$936,355$1,064,890
63$1,062,392$959,401$930,238$1,118,914
64$1,132,090$967,746$922,735$1,173,238
65$1,207,678$975,281$913,762$1,231,721
66$1,289,721$981,929$903,232$1,294,765
67$1,378,836$987,607$891,054$1,362,813
68$1,475,704$992,226$877,131$1,436,353
69$1,581,074$995,693$861,363$1,515,923
70$1,695,769$997,908$843,644$1,602,118
71$1,820,695$998,763$823,864$1,695,591
72$1,956,851$998,148$801,909$1,797,064
73$2,105,334$995,941$777,657$1,907,334
74$2,267,353$992,016$750,982$2,027,278
75$2,444,236$986,238$721,753$2,157,864
76$2,637,448$978,464$689,832$2,300,159
77$2,848,600$968,541$655,074$2,455,341
78$3,079,467$956,310$617,329$2,624,708
79$3,332,002$941,599$576,439$2,809,690
80$3,608,357$924,227$532,240$3,011,868
81$3,910,899$904,004$484,560$3,232,981
82$4,242,237$880,727$433,219$3,474,950
83$4,605,243$854,180$378,029$3,739,892
84$5,003,079$824,137$318,795$4,030,140
85$5,439,231$790,356$255,312$4,348,271
86$5,917,533$752,585$187,366$4,697,122
87$6,442,213$710,553$114,734$5,079,825
88$7,017,924$663,975$37,183$5,499,831
89$7,649,794$612,552$0$5,960,947
90$8,343,470$555,964$0$6,471,748
91$9,105,173$493,875$0$7,036,578
92$9,941,756$425,930$0$7,656,994
93$10,860,768$351,754$0$8,338,648
94$11,870,524$270,948$0$9,087,772
95$12,980,188$183,095$0$9,911,236
96$14,199,852$87,751$0$10,816,613
97$15,540,636$0$0$11,812,249
98$17,014,790$0$0$12,911,110
99$18,635,811$0$0$14,142,865
100$20,418,571$0$0$15,497,576