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%14.7%
1 years$74,734$74,068$73,419$72,785$72,166$70,767
2 years$36,997$36,308$35,640$34,993$34,365$32,961
3 years$24,420$23,728$23,062$22,420$21,802$20,437
4 years$18,132$17,442$16,783$16,152$15,550$14,234
5 years$14,361$13,675$13,024$12,407$11,821$10,558
6 years$11,847$11,167$10,526$9,922$9,353$8,146
7 years$10,053$9,378$8,747$8,157$7,607$6,454
8 years$8,707$8,038$7,418$6,843$6,310$5,212
9 years$7,661$6,999$6,389$5,829$5,314$4,270
10 years$6,825$6,169$5,570$5,024$4,528$3,537
11 years$6,141$5,492$4,904$4,373$3,894$2,955
12 years$5,572$4,929$4,352$3,835$3,375$2,486
13 years$5,091$4,455$3,888$3,386$2,943$2,103
14 years$4,678$4,049$3,494$3,006$2,580$1,787
15 years$4,322$3,699$3,154$2,681$2,271$1,524
16 years$4,009$3,394$2,860$2,400$2,007$1,304
17 years$3,734$3,126$2,602$2,157$1,780$1,119
18 years$3,490$2,888$2,376$1,944$1,583$963
19 years$3,272$2,677$2,175$1,756$1,411$829
20 years$3,076$2,487$1,996$1,591$1,260$716
21 years$2,899$2,317$1,836$1,443$1,128$619
22 years$2,738$2,163$1,692$1,312$1,011$535
23 years$2,591$2,023$1,562$1,195$907$464
24 years$2,457$1,895$1,445$1,090$815$402
25 years$2,333$1,779$1,338$996$734$349
26 years$2,220$1,672$1,241$910$661$303
27 years$2,114$1,573$1,152$833$596$263
28 years$2,017$1,482$1,071$763$538$228
29 years$1,927$1,398$997$700$486$199
30 years$1,842$1,321$929$643$439$173
31 years$1,763$1,248$866$590$397$150
32 years$1,690$1,181$808$542$359$131
33 years$1,621$1,119$754$499$325$114
34 years$1,556$1,060$705$459$294$99
35 years$1,495$1,006$659$422$266$86
36 years$1,437$955$616$389$241$75
37 years$1,383$907$577$358$219$65
38 years$1,332$862$540$330$198$57
39 years$1,283$819$506$305$180$50
40 years$1,237$779$474$281$163$43
41 years$1,194$742$445$259$148$38
42 years$1,152$707$417$239$134$33
43 years$1,113$673$392$221$122$29
44 years$1,075$642$368$204$111$25
45 years$1,040$612$345$188$100$22
46 years$1,005$584$324$174$91$19
47 years$973$557$305$161$83$17
48 years$942$532$286$149$75$14
49 years$912$508$269$137$68$13
50 years$884$485$253$127$62$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $905,000, adding $5,580 every year, while hoping to spend $49,756 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: 45/34/21 Blend
61$905,000$905,000$905,000$905,000
62$1,003,066$955,101$941,073$1,041,912
63$1,052,438$948,961$919,659$1,063,643
64$1,105,180$940,852$895,860$1,081,856
65$1,161,580$930,626$869,544$1,100,586
66$1,221,959$918,125$840,571$1,119,905
67$1,286,667$903,181$808,798$1,139,895
68$1,356,087$885,616$774,073$1,160,651
69$1,430,640$865,244$736,237$1,182,279
70$1,510,789$841,865$695,125$1,204,904
71$1,597,042$815,268$650,563$1,228,663
72$1,689,954$785,231$602,372$1,253,715
73$1,790,140$751,517$550,361$1,280,238
74$1,898,270$713,878$494,335$1,308,434
75$2,015,084$672,048$434,085$1,338,530
76$2,141,394$625,750$369,398$1,370,784
77$2,278,092$574,687$300,048$1,405,482
78$2,426,158$518,548$225,801$1,442,950
79$2,586,672$457,002$146,411$1,483,553
80$2,760,819$389,702$61,622$1,527,697
81$2,949,903$316,278$0$1,575,842
82$3,155,360$236,343$0$1,634,967
83$3,378,768$149,484$0$1,714,332
84$3,621,862$55,269$0$1,800,822
85$3,886,553$0$0$1,895,221
86$4,174,944$0$0$2,015,893
87$4,489,347$0$0$2,170,090
88$4,832,309$0$0$2,338,395
89$5,206,632$0$0$2,522,196
90$5,615,401$0$0$2,723,022
91$6,062,011$0$0$2,942,554
92$6,550,202$0$0$3,182,645
93$7,084,090$0$0$3,445,333
94$7,668,205$0$0$3,732,864
95$8,307,538$0$0$4,047,711
96$9,007,585$0$0$4,392,596
97$9,774,396$0$0$4,770,518
98$10,614,634$0$0$5,184,779
99$11,535,639$0$0$5,639,017
100$12,545,494$0$0$6,137,236