Can I retire at age 62 with 907,000?

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 $907,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$74,899$74,232$73,581$72,946$72,325$69,982
2 years$37,079$36,388$35,719$35,070$34,441$32,102
3 years$24,474$23,780$23,113$22,470$21,851$19,590
4 years$18,172$17,481$16,820$16,188$15,584$13,418
5 years$14,393$13,705$13,053$12,434$11,847$9,782
6 years$11,873$11,191$10,549$9,944$9,374$7,412
7 years$10,075$9,398$8,766$8,175$7,624$5,764
8 years$8,726$8,056$7,434$6,858$6,324$4,566
9 years$7,678$7,014$6,403$5,841$5,326$3,667
10 years$6,840$6,183$5,582$5,035$4,538$2,975
11 years$6,155$5,504$4,915$4,382$3,903$2,434
12 years$5,584$4,940$4,362$3,844$3,382$2,003
13 years$5,102$4,465$3,897$3,394$2,949$1,658
14 years$4,689$4,058$3,501$3,012$2,585$1,377
15 years$4,331$3,707$3,161$2,687$2,276$1,148
16 years$4,018$3,401$2,866$2,406$2,012$959
17 years$3,743$3,132$2,608$2,161$1,784$804
18 years$3,498$2,895$2,381$1,948$1,586$675
19 years$3,279$2,683$2,180$1,760$1,414$567
20 years$3,083$2,493$2,000$1,594$1,263$477
21 years$2,905$2,322$1,840$1,447$1,130$402
22 years$2,744$2,167$1,696$1,315$1,013$339
23 years$2,597$2,027$1,566$1,198$909$286
24 years$2,462$1,899$1,448$1,093$817$242
25 years$2,338$1,782$1,341$998$735$204
26 years$2,224$1,675$1,244$912$662$173
27 years$2,119$1,577$1,155$835$597$146
28 years$2,022$1,486$1,074$765$539$124
29 years$1,931$1,401$999$702$487$105
30 years$1,846$1,324$931$644$440$88
31 years$1,767$1,251$868$591$398$75
32 years$1,694$1,184$810$544$360$63
33 years$1,624$1,121$756$500$325$54
34 years$1,559$1,063$706$460$295$45
35 years$1,498$1,008$660$423$267$39
36 years$1,441$957$618$390$242$33
37 years$1,386$909$578$359$219$28
38 years$1,335$863$541$331$199$23
39 years$1,286$821$507$305$180$20
40 years$1,240$781$475$282$163$17
41 years$1,196$744$446$260$148$14
42 years$1,155$708$418$240$135$12
43 years$1,115$675$392$221$122$10
44 years$1,078$643$368$204$111$9
45 years$1,042$613$346$189$101$7
46 years$1,008$585$325$174$91$6
47 years$975$558$305$161$83$5
48 years$944$533$287$149$75$4
49 years$914$509$270$138$68$4
50 years$886$486$253$127$62$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $907,000, adding $4,239 every year, while hoping to spend $34,352 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: 37/49/14 Blend
61$907,000$907,000$907,000$907,000
62$1,003,887$955,816$941,757$1,036,596
63$1,069,733$966,100$936,756$1,070,726
64$1,141,144$975,738$930,435$1,103,958
65$1,218,651$984,659$922,716$1,139,109
66$1,302,840$992,794$913,513$1,176,367
67$1,394,351$1,000,063$902,737$1,215,941
68$1,493,894$1,006,385$890,298$1,258,065
69$1,602,246$1,011,672$876,097$1,302,997
70$1,720,262$1,015,831$860,034$1,351,023
71$1,848,886$1,018,764$842,002$1,402,461
72$1,989,154$1,020,365$821,891$1,457,665
73$2,142,207$1,020,522$799,583$1,517,025
74$2,309,301$1,019,117$774,959$1,580,976
75$2,491,820$1,016,024$747,890$1,649,997
76$2,691,285$1,011,109$718,244$1,724,622
77$2,909,373$1,004,230$685,882$1,805,441
78$3,147,928$995,236$650,658$1,893,108
79$3,408,983$983,969$612,421$1,988,348
80$3,694,774$970,258$571,012$2,091,963
81$4,007,765$953,925$526,265$2,204,842
82$4,350,669$934,779$478,007$2,327,968
83$4,726,474$912,620$426,057$2,462,430
84$5,138,470$887,234$370,225$2,609,433
85$5,590,282$858,396$310,315$2,770,309
86$6,085,900$825,867$246,121$2,946,536
87$6,629,722$789,394$177,426$3,139,743
88$7,226,590$748,711$104,006$3,351,736
89$7,881,838$703,534$25,626$3,584,511
90$8,601,344$653,565$0$3,840,275
91$9,391,579$598,488$0$4,130,135
92$10,259,674$537,968$0$4,452,770
93$11,213,484$471,652$0$4,807,368
94$12,261,664$399,168$0$5,197,267
95$13,413,748$320,120$0$5,626,151
96$14,680,237$234,094$0$6,098,087
97$16,072,705$140,648$0$6,617,569
98$17,603,899$39,318$0$7,189,555
99$19,287,866$0$0$7,819,520
100$21,140,082$0$0$8,551,460