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%19%
1 years$74,899$74,232$73,581$72,946$72,325$69,704
2 years$37,079$36,388$35,719$35,070$34,441$31,828
3 years$24,474$23,780$23,113$22,470$21,851$19,329
4 years$18,172$17,481$16,820$16,188$15,584$13,173
5 years$14,393$13,705$13,053$12,434$11,847$9,553
6 years$11,873$11,191$10,549$9,944$9,374$7,199
7 years$10,075$9,398$8,766$8,175$7,624$5,566
8 years$8,726$8,056$7,434$6,858$6,324$4,383
9 years$7,678$7,014$6,403$5,841$5,326$3,499
10 years$6,840$6,183$5,582$5,035$4,538$2,821
11 years$6,155$5,504$4,915$4,382$3,903$2,293
12 years$5,584$4,940$4,362$3,844$3,382$1,875
13 years$5,102$4,465$3,897$3,394$2,949$1,541
14 years$4,689$4,058$3,501$3,012$2,585$1,271
15 years$4,331$3,707$3,161$2,687$2,276$1,052
16 years$4,018$3,401$2,866$2,406$2,012$873
17 years$3,743$3,132$2,608$2,161$1,784$726
18 years$3,498$2,895$2,381$1,948$1,586$605
19 years$3,279$2,683$2,180$1,760$1,414$504
20 years$3,083$2,493$2,000$1,594$1,263$421
21 years$2,905$2,322$1,840$1,447$1,130$352
22 years$2,744$2,167$1,696$1,315$1,013$295
23 years$2,597$2,027$1,566$1,198$909$247
24 years$2,462$1,899$1,448$1,093$817$207
25 years$2,338$1,782$1,341$998$735$173
26 years$2,224$1,675$1,244$912$662$145
27 years$2,119$1,577$1,155$835$597$122
28 years$2,022$1,486$1,074$765$539$102
29 years$1,931$1,401$999$702$487$86
30 years$1,846$1,324$931$644$440$72
31 years$1,767$1,251$868$591$398$61
32 years$1,694$1,184$810$544$360$51
33 years$1,624$1,121$756$500$325$43
34 years$1,559$1,063$706$460$295$36
35 years$1,498$1,008$660$423$267$30
36 years$1,441$957$618$390$242$25
37 years$1,386$909$578$359$219$21
38 years$1,335$863$541$331$199$18
39 years$1,286$821$507$305$180$15
40 years$1,240$781$475$282$163$13
41 years$1,196$744$446$260$148$11
42 years$1,155$708$418$240$135$9
43 years$1,115$675$392$221$122$7
44 years$1,078$643$368$204$111$6
45 years$1,042$613$346$189$101$5
46 years$1,008$585$325$174$91$4
47 years$975$558$305$161$83$4
48 years$944$533$287$149$75$3
49 years$914$509$270$138$68$3
50 years$886$486$253$127$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $907,000, adding $2,307 every year, while hoping to spend $59,553 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: 37/40/23 Blend
61$907,000$907,000$907,000$907,000
62$1,001,894$953,823$939,764$1,031,968
63$1,040,723$937,196$907,882$1,037,521
64$1,081,517$917,759$872,937$1,037,822
65$1,124,413$895,310$834,761$1,036,952
66$1,169,560$869,638$793,183$1,034,844
67$1,217,123$840,517$748,022$1,031,425
68$1,267,276$807,710$699,088$1,026,624
69$1,320,215$770,964$646,184$1,020,367
70$1,376,150$730,014$589,104$1,012,579
71$1,435,309$684,577$527,631$1,003,184
72$1,497,946$634,356$461,541$992,107
73$1,564,332$579,035$390,599$979,271
74$1,634,768$518,282$314,558$964,601
75$1,709,581$451,745$233,162$948,020
76$1,789,129$379,051$146,144$929,457
77$1,873,804$299,808$53,224$908,838
78$1,964,034$213,601$0$886,097
79$2,060,290$119,992$0$872,442
80$2,163,085$18,517$0$871,211
81$2,272,984$0$0$869,353
82$2,390,604$0$0$907,095
83$2,516,624$0$0$956,347
84$2,651,786$0$0$1,009,260
85$2,796,906$0$0$1,066,164
86$2,952,880$0$0$1,127,422
87$3,120,690$0$0$1,193,432
88$3,301,415$0$0$1,264,632
89$3,496,240$0$0$1,341,503
90$3,706,466$0$0$1,424,574
91$3,933,524$0$0$1,514,423
92$4,178,986$0$0$1,611,691
93$4,444,578$0$0$1,717,077
94$4,732,200$0$0$1,831,355
95$5,043,939$0$0$1,955,372
96$5,382,091$0$0$2,090,060
97$5,749,180$0$0$2,236,447
98$6,147,982$0$0$2,395,662
99$6,581,552$0$0$2,568,946
100$7,053,251$0$0$2,757,666