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%11.8%
1 years$74,734$74,068$73,419$72,785$72,166$71,621
2 years$36,997$36,308$35,640$34,993$34,365$33,815
3 years$24,420$23,728$23,062$22,420$21,802$21,266
4 years$18,132$17,442$16,783$16,152$15,550$15,030
5 years$14,361$13,675$13,024$12,407$11,821$11,319
6 years$11,847$11,167$10,526$9,922$9,353$8,870
7 years$10,053$9,378$8,747$8,157$7,607$7,143
8 years$8,707$8,038$7,418$6,843$6,310$5,866
9 years$7,661$6,999$6,389$5,829$5,314$4,888
10 years$6,825$6,169$5,570$5,024$4,528$4,121
11 years$6,141$5,492$4,904$4,373$3,894$3,506
12 years$5,572$4,929$4,352$3,835$3,375$3,004
13 years$5,091$4,455$3,888$3,386$2,943$2,590
14 years$4,678$4,049$3,494$3,006$2,580$2,244
15 years$4,322$3,699$3,154$2,681$2,271$1,952
16 years$4,009$3,394$2,860$2,400$2,007$1,705
17 years$3,734$3,126$2,602$2,157$1,780$1,493
18 years$3,490$2,888$2,376$1,944$1,583$1,311
19 years$3,272$2,677$2,175$1,756$1,411$1,154
20 years$3,076$2,487$1,996$1,591$1,260$1,017
21 years$2,899$2,317$1,836$1,443$1,128$899
22 years$2,738$2,163$1,692$1,312$1,011$795
23 years$2,591$2,023$1,562$1,195$907$704
24 years$2,457$1,895$1,445$1,090$815$624
25 years$2,333$1,779$1,338$996$734$554
26 years$2,220$1,672$1,241$910$661$492
27 years$2,114$1,573$1,152$833$596$437
28 years$2,017$1,482$1,071$763$538$389
29 years$1,927$1,398$997$700$486$346
30 years$1,842$1,321$929$643$439$308
31 years$1,763$1,248$866$590$397$275
32 years$1,690$1,181$808$542$359$245
33 years$1,621$1,119$754$499$325$218
34 years$1,556$1,060$705$459$294$195
35 years$1,495$1,006$659$422$266$174
36 years$1,437$955$616$389$241$155
37 years$1,383$907$577$358$219$139
38 years$1,332$862$540$330$198$124
39 years$1,283$819$506$305$180$110
40 years$1,237$779$474$281$163$99
41 years$1,194$742$445$259$148$88
42 years$1,152$707$417$239$134$79
43 years$1,113$673$392$221$122$70
44 years$1,075$642$368$204$111$63
45 years$1,040$612$345$188$100$56
46 years$1,005$584$324$174$91$50
47 years$973$557$305$161$83$45
48 years$942$532$286$149$75$40
49 years$912$508$269$137$68$36
50 years$884$485$253$127$62$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $905,000, adding $2,340 every year, while hoping to spend $26,076 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: 47/26/27 Blend
61$905,000$905,000$905,000$905,000
62$999,724$951,759$937,731$1,038,880
63$1,073,951$970,650$941,401$1,085,605
64$1,154,875$989,593$944,319$1,133,561
65$1,243,152$1,008,563$946,433$1,185,110
66$1,339,504$1,027,533$947,689$1,240,603
67$1,444,724$1,046,473$948,027$1,300,428
68$1,559,688$1,065,352$947,388$1,365,011
69$1,685,357$1,084,135$945,706$1,434,825
70$1,822,791$1,102,786$942,915$1,510,390
71$1,973,158$1,121,264$938,945$1,592,278
72$2,137,743$1,139,529$933,722$1,681,125
73$2,317,959$1,157,532$927,169$1,777,629
74$2,515,366$1,175,227$919,204$1,882,560
75$2,731,679$1,192,559$909,744$1,996,771
76$2,968,789$1,209,472$898,698$2,121,198
77$3,228,775$1,225,906$885,974$2,256,878
78$3,513,931$1,241,796$871,475$2,404,954
79$3,826,781$1,257,073$855,099$2,566,686
80$4,170,106$1,271,664$836,738$2,743,463
81$4,546,970$1,285,488$816,282$2,936,822
82$4,960,747$1,298,463$793,613$3,148,453
83$5,415,153$1,310,497$768,609$3,380,223
84$5,914,284$1,321,497$741,143$3,634,192
85$6,462,649$1,331,359$711,080$3,912,630
86$7,065,219$1,339,975$678,281$4,218,043
87$7,727,468$1,347,230$642,599$4,553,195
88$8,455,426$1,353,001$603,883$4,921,132
89$9,255,738$1,357,157$561,972$5,325,216
90$10,135,725$1,359,559$516,699$5,769,155
91$11,103,451$1,360,060$467,891$6,257,037
92$12,167,803$1,358,502$415,365$6,793,371
93$13,338,570$1,354,720$358,931$7,383,128
94$14,626,540$1,348,537$298,390$8,031,794
95$16,043,596$1,339,765$233,536$8,745,413
96$17,602,834$1,328,205$164,151$9,530,655
97$19,318,683$1,313,646$90,009$10,394,872
98$21,207,040$1,295,866$10,876$11,346,171
99$23,285,421$1,274,627$0$12,393,492
100$25,573,128$1,249,677$0$13,567,887