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%12.3%
1 years$74,817$74,150$73,500$72,865$72,246$71,551
2 years$37,038$36,348$35,680$35,031$34,403$33,703
3 years$24,447$23,754$23,087$22,445$21,826$21,143
4 years$18,152$17,462$16,801$16,170$15,567$14,905
5 years$14,377$13,690$13,039$12,420$11,834$11,196
6 years$11,860$11,179$10,537$9,933$9,364$8,750
7 years$10,064$9,388$8,756$8,166$7,615$7,027
8 years$8,717$8,047$7,426$6,850$6,317$5,754
9 years$7,670$7,007$6,396$5,835$5,320$4,781
10 years$6,833$6,176$5,576$5,030$4,533$4,019
11 years$6,148$5,498$4,909$4,377$3,899$3,408
12 years$5,578$4,935$4,357$3,840$3,378$2,911
13 years$5,096$4,460$3,893$3,390$2,946$2,502
14 years$4,684$4,054$3,497$3,009$2,583$2,160
15 years$4,326$3,703$3,158$2,684$2,274$1,873
16 years$4,014$3,398$2,863$2,403$2,010$1,630
17 years$3,739$3,129$2,605$2,159$1,782$1,423
18 years$3,494$2,891$2,378$1,946$1,584$1,245
19 years$3,276$2,680$2,177$1,758$1,412$1,092
20 years$3,079$2,490$1,998$1,592$1,261$959
21 years$2,902$2,319$1,838$1,445$1,129$844
22 years$2,741$2,165$1,694$1,314$1,012$744
23 years$2,594$2,025$1,564$1,197$908$656
24 years$2,459$1,897$1,446$1,091$816$580
25 years$2,336$1,780$1,340$997$735$512
26 years$2,222$1,673$1,242$911$662$453
27 years$2,117$1,575$1,154$834$597$401
28 years$2,019$1,484$1,073$764$538$356
29 years$1,929$1,400$998$701$486$315
30 years$1,844$1,322$930$643$439$280
31 years$1,765$1,250$867$591$397$248
32 years$1,692$1,183$809$543$359$220
33 years$1,623$1,120$755$499$325$196
34 years$1,558$1,061$705$459$294$174
35 years$1,496$1,007$660$423$267$154
36 years$1,439$956$617$389$242$137
37 years$1,385$908$578$359$219$122
38 years$1,333$863$541$331$198$108
39 years$1,285$820$507$305$180$96
40 years$1,239$780$475$281$163$86
41 years$1,195$743$445$260$148$76
42 years$1,153$707$418$239$134$68
43 years$1,114$674$392$221$122$60
44 years$1,076$642$368$204$111$54
45 years$1,041$613$345$189$100$48
46 years$1,007$584$324$174$91$43
47 years$974$558$305$161$83$38
48 years$943$532$286$149$75$34
49 years$913$508$269$137$68$30
50 years$885$486$253$127$62$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $906,000, adding $5,244 every year, while hoping to spend $22,280 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: 28/43/29 Blend
61$906,000$906,000$906,000$906,000
62$1,003,821$955,803$941,760$1,022,812
63$1,082,505$978,932$949,603$1,061,602
64$1,168,468$1,002,447$956,963$1,100,984
65$1,262,429$1,026,344$963,798$1,142,850
66$1,365,180$1,050,618$970,068$1,187,430
67$1,477,591$1,075,261$975,729$1,234,977
68$1,600,624$1,100,267$980,733$1,285,769
69$1,735,333$1,125,626$985,034$1,340,114
70$1,882,883$1,151,328$988,579$1,398,352
71$2,044,556$1,177,362$991,315$1,460,856
72$2,221,762$1,203,714$993,186$1,528,039
73$2,416,057$1,230,370$994,132$1,600,356
74$2,629,151$1,257,315$994,091$1,678,311
75$2,862,930$1,284,529$992,999$1,762,456
76$3,119,471$1,311,993$990,787$1,853,404
77$3,401,062$1,339,686$987,383$1,951,829
78$3,710,223$1,367,583$982,713$2,058,476
79$4,049,728$1,395,657$976,697$2,174,165
80$4,422,637$1,423,881$969,253$2,299,802
81$4,832,318$1,452,223$960,294$2,436,387
82$5,282,481$1,480,648$949,731$2,585,023
83$5,777,214$1,509,120$937,467$2,746,925
84$6,321,022$1,537,599$923,404$2,923,435
85$6,918,865$1,566,041$907,437$3,116,035
86$7,576,212$1,594,399$889,459$3,326,357
87$8,299,084$1,622,623$869,354$3,556,202
88$9,094,117$1,650,658$847,004$3,807,557
89$9,968,622$1,678,445$822,283$4,082,616
90$10,930,653$1,705,921$795,062$4,383,795
91$11,989,087$1,733,019$765,204$4,713,761
92$13,153,702$1,759,665$732,566$5,075,458
93$14,435,272$1,785,780$697,000$5,472,128
94$15,845,669$1,811,282$658,348$5,907,351
95$17,397,973$1,836,081$616,448$6,385,074
96$19,106,597$1,860,080$571,131$6,909,649
97$20,987,423$1,883,177$522,217$7,485,879
98$23,057,950$1,905,263$469,521$8,119,056
99$25,337,460$1,926,219$412,848$8,815,020
100$27,847,199$1,945,922$351,997$9,580,210