Can I retire at age 62 with 905,000?

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 $905,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$74,734$74,068$73,419$72,785$72,166$70,536
2 years$36,997$36,308$35,640$34,993$34,365$32,731
3 years$24,420$23,728$23,062$22,420$21,802$20,217
4 years$18,132$17,442$16,783$16,152$15,550$14,024
5 years$14,361$13,675$13,024$12,407$11,821$10,359
6 years$11,847$11,167$10,526$9,922$9,353$7,957
7 years$10,053$9,378$8,747$8,157$7,607$6,276
8 years$8,707$8,038$7,418$6,843$6,310$5,045
9 years$7,661$6,999$6,389$5,829$5,314$4,113
10 years$6,825$6,169$5,570$5,024$4,528$3,390
11 years$6,141$5,492$4,904$4,373$3,894$2,818
12 years$5,572$4,929$4,352$3,835$3,375$2,358
13 years$5,091$4,455$3,888$3,386$2,943$1,984
14 years$4,678$4,049$3,494$3,006$2,580$1,677
15 years$4,322$3,699$3,154$2,681$2,271$1,423
16 years$4,009$3,394$2,860$2,400$2,007$1,211
17 years$3,734$3,126$2,602$2,157$1,780$1,033
18 years$3,490$2,888$2,376$1,944$1,583$883
19 years$3,272$2,677$2,175$1,756$1,411$756
20 years$3,076$2,487$1,996$1,591$1,260$649
21 years$2,899$2,317$1,836$1,443$1,128$557
22 years$2,738$2,163$1,692$1,312$1,011$479
23 years$2,591$2,023$1,562$1,195$907$413
24 years$2,457$1,895$1,445$1,090$815$355
25 years$2,333$1,779$1,338$996$734$306
26 years$2,220$1,672$1,241$910$661$264
27 years$2,114$1,573$1,152$833$596$228
28 years$2,017$1,482$1,071$763$538$197
29 years$1,927$1,398$997$700$486$170
30 years$1,842$1,321$929$643$439$147
31 years$1,763$1,248$866$590$397$127
32 years$1,690$1,181$808$542$359$110
33 years$1,621$1,119$754$499$325$95
34 years$1,556$1,060$705$459$294$82
35 years$1,495$1,006$659$422$266$71
36 years$1,437$955$616$389$241$61
37 years$1,383$907$577$358$219$53
38 years$1,332$862$540$330$198$46
39 years$1,283$819$506$305$180$40
40 years$1,237$779$474$281$163$34
41 years$1,194$742$445$259$148$30
42 years$1,152$707$417$239$134$26
43 years$1,113$673$392$221$122$22
44 years$1,075$642$368$204$111$19
45 years$1,040$612$345$188$100$17
46 years$1,005$584$324$174$91$14
47 years$973$557$305$161$83$13
48 years$942$532$286$149$75$11
49 years$912$508$269$137$68$9
50 years$884$485$253$127$62$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $905,000, adding $5,235 every year, while hoping to spend $57,744 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: 53/40/7 Blend
61$905,000$905,000$905,000$905,000
62$1,002,710$954,745$940,717$1,053,899
63$1,043,547$940,088$910,792$1,074,516
64$1,086,614$922,778$877,929$1,090,176
65$1,132,078$902,623$841,969$1,105,823
66$1,180,120$879,422$802,745$1,121,466
67$1,230,939$852,960$760,083$1,137,119
68$1,284,749$823,010$713,801$1,152,798
69$1,341,789$789,332$663,708$1,168,530
70$1,402,315$751,673$609,606$1,184,342
71$1,466,611$709,765$551,288$1,200,273
72$1,534,984$663,322$488,535$1,216,369
73$1,607,773$612,045$421,121$1,232,684
74$1,685,347$555,617$348,810$1,249,284
75$1,768,112$493,702$271,355$1,266,247
76$1,856,511$425,944$188,496$1,283,665
77$1,951,030$351,971$99,966$1,301,646
78$2,052,202$271,385$5,482$1,320,314
79$2,160,612$183,768$0$1,339,815
80$2,276,901$88,679$0$1,367,438
81$2,401,773$0$0$1,397,153
82$2,536,000$0$0$1,435,109
83$2,680,429$0$0$1,518,013
84$2,835,991$0$0$1,607,374
85$3,003,708$0$0$1,703,787
86$3,184,703$0$0$1,807,906
87$3,380,211$0$0$1,920,452
88$3,591,586$0$0$2,042,213
89$3,820,320$0$0$2,174,059
90$4,068,049$0$0$2,316,945
91$4,336,575$0$0$2,471,921
92$4,627,880$0$0$2,640,141
93$4,944,140$0$0$2,822,877
94$5,287,751$0$0$3,021,526
95$5,661,349$0$0$3,237,624
96$6,067,832$0$0$3,472,863
97$6,510,392$0$0$3,729,104
98$6,992,537$0$0$4,008,395
99$7,518,130$0$0$4,312,990
100$8,091,423$0$0$4,645,369