Can I retire at age 62 with 904,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $904,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.8%
1 years$74,651$73,987$73,338$72,705$72,086$69,807
2 years$36,956$36,268$35,601$34,954$34,327$32,051
3 years$24,393$23,701$23,036$22,395$21,778$19,577
4 years$18,112$17,423$16,764$16,135$15,532$13,423
5 years$14,345$13,660$13,010$12,393$11,808$9,796
6 years$11,834$11,154$10,514$9,911$9,343$7,431
7 years$10,042$9,367$8,737$8,148$7,598$5,785
8 years$8,698$8,030$7,410$6,835$6,304$4,588
9 years$7,653$6,991$6,382$5,822$5,308$3,689
10 years$6,818$6,162$5,564$5,019$4,523$2,997
11 years$6,135$5,486$4,898$4,368$3,890$2,455
12 years$5,566$4,924$4,347$3,831$3,371$2,023
13 years$5,085$4,450$3,884$3,382$2,940$1,676
14 years$4,673$4,045$3,490$3,002$2,577$1,395
15 years$4,317$3,695$3,151$2,678$2,269$1,164
16 years$4,005$3,390$2,857$2,398$2,005$975
17 years$3,730$3,122$2,599$2,154$1,778$818
18 years$3,486$2,885$2,373$1,941$1,581$687
19 years$3,268$2,674$2,172$1,754$1,409$579
20 years$3,072$2,485$1,994$1,589$1,259$488
21 years$2,895$2,314$1,834$1,442$1,126$412
22 years$2,735$2,160$1,690$1,311$1,010$348
23 years$2,588$2,021$1,561$1,194$906$294
24 years$2,454$1,893$1,443$1,089$815$249
25 years$2,331$1,777$1,337$995$733$210
26 years$2,217$1,670$1,240$909$660$178
27 years$2,112$1,571$1,151$832$595$151
28 years$2,015$1,481$1,070$763$537$128
29 years$1,924$1,397$996$699$485$108
30 years$1,840$1,319$928$642$438$92
31 years$1,762$1,247$865$589$396$78
32 years$1,688$1,180$807$542$358$66
33 years$1,619$1,117$753$498$324$56
34 years$1,554$1,059$704$458$294$48
35 years$1,493$1,005$658$422$266$40
36 years$1,436$953$616$389$241$34
37 years$1,382$906$576$358$218$29
38 years$1,330$861$540$330$198$25
39 years$1,282$818$506$304$180$21
40 years$1,236$779$474$281$163$18
41 years$1,192$741$444$259$148$15
42 years$1,151$706$417$239$134$13
43 years$1,112$673$391$221$122$11
44 years$1,074$641$367$204$110$9
45 years$1,038$611$345$188$100$8
46 years$1,004$583$324$174$91$7
47 years$972$557$304$161$83$6
48 years$941$531$286$148$75$5
49 years$911$507$269$137$68$4
50 years$883$485$253$127$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $904,000, adding $5,112 every year, while hoping to spend $53,415 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: 42/45/13 Blend
61$904,000$904,000$904,000$904,000
62$1,001,481$953,569$939,557$1,039,527
63$1,046,799$943,461$914,199$1,056,624
64$1,094,949$931,067$886,201$1,069,421
65$1,146,164$916,219$855,419$1,082,109
66$1,200,698$898,739$821,701$1,094,699
67$1,258,829$878,438$784,888$1,107,212
68$1,320,863$855,115$744,815$1,119,671
69$1,387,135$828,559$701,310$1,132,107
70$1,458,009$798,545$654,191$1,144,561
71$1,533,888$764,836$603,268$1,157,081
72$1,615,213$727,181$548,346$1,169,726
73$1,702,466$685,314$489,217$1,182,567
74$1,796,178$638,954$425,666$1,195,687
75$1,896,930$587,805$357,468$1,209,186
76$2,005,362$531,552$284,387$1,223,179
77$2,122,174$469,864$206,180$1,237,803
78$2,248,137$402,389$122,589$1,253,213
79$2,384,099$328,757$33,346$1,269,590
80$2,530,987$248,577$0$1,287,144
81$2,689,825$161,434$0$1,314,697
82$2,861,736$66,894$0$1,349,432
83$3,047,955$0$0$1,387,074
84$3,249,839$0$0$1,445,601
85$3,468,882$0$0$1,545,138
86$3,706,725$0$0$1,653,319
87$3,965,174$0$0$1,770,977
88$4,246,217$0$0$1,899,031
89$4,552,039$0$0$2,038,489
90$4,885,045$0$0$2,190,464
91$5,247,882$0$0$2,356,178
92$5,643,461$0$0$2,536,976
93$6,074,990$0$0$2,734,341
94$6,545,994$0$0$2,949,902
95$7,060,359$0$0$3,185,456
96$7,622,360$0$0$3,442,978
97$8,236,702$0$0$3,724,644
98$8,908,569$0$0$4,032,850
99$9,643,665$0$0$4,370,235
100$10,448,273$0$0$4,739,703