Can I retire at age 62 with 902,000?

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 $902,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$74,486$73,823$73,176$72,544$71,927$71,294
2 years$36,874$36,188$35,522$34,877$34,251$33,614
3 years$24,339$23,649$22,985$22,346$21,730$21,108
4 years$18,072$17,385$16,727$16,099$15,498$14,895
5 years$14,313$13,630$12,981$12,366$11,781$11,200
6 years$11,808$11,130$10,491$9,889$9,322$8,763
7 years$10,019$9,347$8,718$8,130$7,581$7,045
8 years$8,678$8,012$7,393$6,820$6,290$5,775
9 years$7,636$6,976$6,368$5,809$5,297$4,805
10 years$6,803$6,149$5,552$5,008$4,513$4,043
11 years$6,121$5,474$4,888$4,358$3,881$3,433
12 years$5,554$4,913$4,338$3,823$3,364$2,936
13 years$5,074$4,440$3,875$3,375$2,933$2,527
14 years$4,663$4,036$3,482$2,996$2,571$2,185
15 years$4,307$3,687$3,144$2,672$2,264$1,897
16 years$3,996$3,383$2,850$2,392$2,001$1,653
17 years$3,722$3,115$2,594$2,149$1,774$1,445
18 years$3,479$2,879$2,368$1,937$1,577$1,266
19 years$3,261$2,668$2,168$1,750$1,406$1,112
20 years$3,066$2,479$1,989$1,585$1,256$978
21 years$2,889$2,309$1,830$1,439$1,124$862
22 years$2,729$2,156$1,686$1,308$1,007$761
23 years$2,582$2,016$1,557$1,191$904$672
24 years$2,448$1,889$1,440$1,087$813$595
25 years$2,325$1,773$1,334$992$731$527
26 years$2,212$1,666$1,237$907$659$467
27 years$2,107$1,568$1,149$830$594$414
28 years$2,010$1,477$1,068$761$536$367
29 years$1,920$1,394$994$698$484$326
30 years$1,836$1,316$926$640$437$290
31 years$1,758$1,244$863$588$395$258
32 years$1,684$1,177$805$541$358$229
33 years$1,615$1,115$752$497$324$204
34 years$1,551$1,057$702$457$293$181
35 years$1,490$1,002$657$421$265$161
36 years$1,433$951$614$388$240$144
37 years$1,379$904$575$357$218$128
38 years$1,327$859$538$329$198$114
39 years$1,279$817$504$304$179$101
40 years$1,233$777$473$280$163$90
41 years$1,190$740$443$258$147$81
42 years$1,148$704$416$238$134$72
43 years$1,109$671$390$220$121$64
44 years$1,072$640$366$203$110$57
45 years$1,036$610$344$188$100$51
46 years$1,002$582$323$173$91$45
47 years$970$555$304$160$82$40
48 years$939$530$285$148$75$36
49 years$909$506$268$137$68$32
50 years$881$484$252$126$62$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $902,000, adding $5,440 every year, while hoping to spend $44,229 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: 63/28/9 Blend
61$902,000$902,000$902,000$902,000
62$999,615$951,809$937,828$1,060,336
63$1,054,517$951,389$922,186$1,101,139
64$1,113,536$949,465$904,538$1,140,027
65$1,177,046$945,918$884,769$1,181,363
66$1,245,456$940,620$862,761$1,225,382
67$1,319,218$933,436$838,389$1,272,347
68$1,398,825$924,221$811,522$1,322,545
69$1,484,821$912,824$782,023$1,376,298
70$1,577,804$899,082$749,752$1,433,958
71$1,678,428$882,826$714,557$1,495,919
72$1,787,417$863,873$676,283$1,562,612
73$1,905,562$842,032$634,768$1,634,518
74$2,033,737$817,100$589,840$1,712,166
75$2,172,901$788,860$541,323$1,796,144
76$2,324,109$757,086$489,029$1,887,099
77$2,488,522$721,537$432,765$1,985,749
78$2,667,416$681,957$372,328$2,092,886
79$2,862,197$638,078$307,505$2,209,388
80$3,074,411$589,614$238,077$2,336,225
81$3,305,760$536,263$163,811$2,474,466
82$3,558,115$477,708$84,466$2,625,297
83$3,833,538$413,611$0$2,790,026
84$4,134,298$343,617$0$2,970,120
85$4,462,892$267,350$0$3,175,815
86$4,822,070$184,413$0$3,400,782
87$5,214,860$94,388$0$3,647,001
88$5,644,593$0$0$3,916,656
89$6,114,940$0$0$4,213,133
90$6,629,943$0$0$4,569,664
91$7,194,051$0$0$4,960,254
92$7,812,165$0$0$5,388,306
93$8,489,684$0$0$5,857,566
94$9,232,550$0$0$6,372,159
95$10,047,312$0$0$6,936,631
96$10,941,180$0$0$7,555,985
97$11,922,098$0$0$8,235,736
98$12,998,814$0$0$8,981,956
99$14,180,966$0$0$9,801,335
100$15,479,171$0$0$10,701,242