Can I retire at age 62 with 903,000?

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 $903,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$74,569$73,905$73,257$72,624$72,006$71,523
2 years$36,915$36,228$35,561$34,915$34,289$33,801
3 years$24,366$23,675$23,011$22,371$21,754$21,277
4 years$18,092$17,404$16,746$16,117$15,515$15,053
5 years$14,329$13,645$12,995$12,379$11,794$11,348
6 years$11,821$11,142$10,502$9,900$9,333$8,903
7 years$10,030$9,357$8,727$8,139$7,590$7,177
8 years$8,688$8,021$7,402$6,828$6,297$5,900
9 years$7,644$6,983$6,375$5,816$5,303$4,923
10 years$6,810$6,156$5,558$5,013$4,518$4,155
11 years$6,128$5,480$4,893$4,363$3,886$3,539
12 years$5,560$4,919$4,342$3,827$3,367$3,037
13 years$5,080$4,445$3,880$3,379$2,936$2,621
14 years$4,668$4,040$3,486$2,999$2,574$2,274
15 years$4,312$3,691$3,147$2,675$2,266$1,981
16 years$4,001$3,386$2,854$2,395$2,003$1,732
17 years$3,726$3,119$2,597$2,152$1,776$1,519
18 years$3,483$2,882$2,370$1,939$1,579$1,336
19 years$3,265$2,671$2,170$1,752$1,408$1,177
20 years$3,069$2,482$1,991$1,587$1,257$1,040
21 years$2,892$2,312$1,832$1,440$1,125$920
22 years$2,732$2,158$1,688$1,310$1,008$815
23 years$2,585$2,018$1,559$1,193$905$723
24 years$2,451$1,891$1,442$1,088$814$642
25 years$2,328$1,775$1,335$993$732$570
26 years$2,215$1,668$1,238$908$660$507
27 years$2,110$1,570$1,150$831$595$452
28 years$2,013$1,479$1,069$762$537$403
29 years$1,922$1,395$995$699$484$359
30 years$1,838$1,318$927$641$438$320
31 years$1,760$1,246$864$589$396$286
32 years$1,686$1,179$806$541$358$255
33 years$1,617$1,116$753$498$324$228
34 years$1,552$1,058$703$458$293$204
35 years$1,492$1,003$657$421$266$182
36 years$1,434$952$615$388$241$163
37 years$1,380$905$576$358$218$146
38 years$1,329$860$539$330$198$130
39 years$1,280$817$505$304$179$116
40 years$1,235$778$473$280$163$104
41 years$1,191$740$444$259$148$93
42 years$1,150$705$416$239$134$83
43 years$1,110$672$391$220$122$75
44 years$1,073$640$367$203$110$67
45 years$1,037$611$344$188$100$60
46 years$1,003$583$323$174$91$54
47 years$971$556$304$160$83$48
48 years$940$531$286$148$75$43
49 years$910$507$268$137$68$38
50 years$882$484$252$127$62$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $903,000, adding $2,470 every year, while hoping to spend $29,873 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: 49/40/11 Blend
61$903,000$903,000$903,000$903,000
62$997,654$949,795$935,798$1,043,447
63$1,067,630$964,550$935,363$1,089,889
64$1,143,742$979,027$933,912$1,136,972
65$1,226,585$993,181$931,379$1,187,432
66$1,316,813$1,006,963$927,696$1,241,595
67$1,415,145$1,020,321$922,792$1,299,821
68$1,522,374$1,033,201$916,589$1,362,504
69$1,639,371$1,045,542$909,009$1,430,083
70$1,767,095$1,057,283$899,970$1,503,038
71$1,906,604$1,068,354$889,383$1,581,903
72$2,059,059$1,078,685$877,159$1,667,265
73$2,225,741$1,088,198$863,202$1,759,772
74$2,408,059$1,096,813$847,412$1,860,140
75$2,607,565$1,104,441$829,685$1,969,158
76$2,825,969$1,110,990$809,911$2,087,698
77$3,065,151$1,116,362$787,976$2,216,722
78$3,327,184$1,120,452$763,761$2,357,291
79$3,614,350$1,123,147$737,140$2,510,576
80$3,929,163$1,124,331$707,984$2,677,871
81$4,274,390$1,123,875$676,154$2,860,601
82$4,653,081$1,121,648$641,508$3,060,342
83$5,068,593$1,117,507$603,896$3,278,829
84$5,524,626$1,111,301$563,163$3,517,979
85$6,025,253$1,102,871$519,145$3,779,907
86$6,574,964$1,092,047$471,672$4,066,946
87$7,178,703$1,078,649$420,564$4,381,671
88$7,841,914$1,062,487$365,638$4,726,920
89$8,570,600$1,043,359$306,697$5,105,829
90$9,371,369$1,021,051$243,539$5,521,852
91$10,251,503$995,338$175,952$5,978,803
92$11,219,025$965,978$103,715$6,480,889
93$12,282,774$932,718$26,597$7,032,749
94$13,452,485$895,290$0$7,639,502
95$14,738,889$853,410$0$8,313,330
96$16,153,805$806,776$0$9,057,680
97$17,710,256$755,071$0$9,876,324
98$19,422,591$697,959$0$10,776,870
99$21,306,620$635,083$0$11,767,706
100$23,379,762$566,069$0$12,858,079