Can I retire at age 62 with 906,000?

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 $906,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$74,817$74,150$73,500$72,865$72,246$70,557
2 years$37,038$36,348$35,680$35,031$34,403$32,710
3 years$24,447$23,754$23,087$22,445$21,826$20,184
4 years$18,152$17,462$16,801$16,170$15,567$13,987
5 years$14,377$13,690$13,039$12,420$11,834$10,321
6 years$11,860$11,179$10,537$9,933$9,364$7,919
7 years$10,064$9,388$8,756$8,166$7,615$6,239
8 years$8,717$8,047$7,426$6,850$6,317$5,010
9 years$7,670$7,007$6,396$5,835$5,320$4,080
10 years$6,833$6,176$5,576$5,030$4,533$3,358
11 years$6,148$5,498$4,909$4,377$3,899$2,788
12 years$5,578$4,935$4,357$3,840$3,378$2,330
13 years$5,096$4,460$3,893$3,390$2,946$1,958
14 years$4,684$4,054$3,497$3,009$2,583$1,653
15 years$4,326$3,703$3,158$2,684$2,274$1,400
16 years$4,014$3,398$2,863$2,403$2,010$1,190
17 years$3,739$3,129$2,605$2,159$1,782$1,013
18 years$3,494$2,891$2,378$1,946$1,584$865
19 years$3,276$2,680$2,177$1,758$1,412$740
20 years$3,079$2,490$1,998$1,592$1,261$634
21 years$2,902$2,319$1,838$1,445$1,129$544
22 years$2,741$2,165$1,694$1,314$1,012$467
23 years$2,594$2,025$1,564$1,197$908$401
24 years$2,459$1,897$1,446$1,091$816$345
25 years$2,336$1,780$1,340$997$735$297
26 years$2,222$1,673$1,242$911$662$256
27 years$2,117$1,575$1,154$834$597$220
28 years$2,019$1,484$1,073$764$538$190
29 years$1,929$1,400$998$701$486$164
30 years$1,844$1,322$930$643$439$141
31 years$1,765$1,250$867$591$397$122
32 years$1,692$1,183$809$543$359$105
33 years$1,623$1,120$755$499$325$91
34 years$1,558$1,061$705$459$294$78
35 years$1,496$1,007$660$423$267$68
36 years$1,439$956$617$389$242$58
37 years$1,385$908$578$359$219$50
38 years$1,333$863$541$331$198$44
39 years$1,285$820$507$305$180$38
40 years$1,239$780$475$281$163$33
41 years$1,195$743$445$260$148$28
42 years$1,153$707$418$239$134$24
43 years$1,114$674$392$221$122$21
44 years$1,076$642$368$204$111$18
45 years$1,041$613$345$189$100$16
46 years$1,007$584$324$174$91$14
47 years$974$558$305$161$83$12
48 years$943$532$286$149$75$10
49 years$913$508$269$137$68$9
50 years$885$486$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 $906,000, adding $3,750 every year, while hoping to spend $55,151 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: 78/16/6 Blend
61$906,000$906,000$906,000$906,000
62$1,002,280$954,262$940,219$1,079,640
63$1,045,832$942,341$913,036$1,118,982
64$1,091,979$927,987$883,094$1,154,547
65$1,140,925$911,023$850,243$1,191,906
66$1,192,898$891,261$814,324$1,231,211
67$1,248,142$868,502$775,173$1,272,631
68$1,306,930$842,535$732,618$1,316,352
69$1,369,555$813,138$686,479$1,362,580
70$1,436,341$780,073$636,568$1,411,541
71$1,507,643$743,092$582,688$1,463,487
72$1,583,849$701,930$524,634$1,518,694
73$1,665,384$656,307$462,192$1,577,467
74$1,752,715$605,928$395,138$1,640,145
75$1,846,355$550,481$323,237$1,707,101
76$1,946,863$489,635$246,246$1,778,748
77$2,054,857$423,041$163,909$1,855,539
78$2,171,013$350,330$75,960$1,937,980
79$2,296,074$271,114$0$2,026,626
80$2,430,854$184,979$0$2,123,236
81$2,576,251$91,493$0$2,232,608
82$2,733,247$0$0$2,350,643
83$2,902,926$0$0$2,479,915
84$3,086,474$0$0$2,637,203
85$3,285,199$0$0$2,807,521
86$3,500,537$0$0$2,992,104
87$3,734,067$0$0$3,192,307
88$3,987,526$0$0$3,409,624
89$4,262,825$0$0$3,645,696
90$4,562,064$0$0$3,902,328
91$4,887,555$0$0$4,181,507
92$5,241,841$0$0$4,485,419
93$5,627,720$0$0$4,816,467
94$6,048,272$0$0$5,177,299
95$6,506,886$0$0$5,570,826
96$7,007,292$0$0$6,000,255
97$7,553,596$0$0$6,469,113
98$8,150,317$0$0$6,981,285
99$8,802,430$0$0$7,541,047
100$9,515,413$0$0$8,153,106