Can I retire at age 62 with 908,000?

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 $908,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$74,982$74,314$73,662$73,026$72,405$70,856
2 years$37,120$36,428$35,758$35,109$34,479$32,926
3 years$24,501$23,806$23,138$22,495$21,875$20,366
4 years$18,192$17,500$16,839$16,206$15,601$14,149
5 years$14,408$13,720$13,067$12,448$11,860$10,468
6 years$11,887$11,204$10,560$9,955$9,384$8,054
7 years$10,086$9,409$8,776$8,184$7,632$6,363
8 years$8,736$8,065$7,443$6,866$6,331$5,124
9 years$7,687$7,022$6,410$5,848$5,332$4,185
10 years$6,848$6,190$5,589$5,041$4,543$3,456
11 years$6,162$5,510$4,920$4,387$3,907$2,878
12 years$5,591$4,946$4,366$3,848$3,386$2,413
13 years$5,108$4,470$3,901$3,397$2,953$2,035
14 years$4,694$4,063$3,505$3,016$2,588$1,723
15 years$4,336$3,711$3,165$2,690$2,279$1,465
16 years$4,023$3,405$2,869$2,408$2,014$1,249
17 years$3,747$3,136$2,611$2,164$1,786$1,068
18 years$3,502$2,898$2,383$1,950$1,588$915
19 years$3,283$2,686$2,182$1,762$1,415$786
20 years$3,086$2,496$2,002$1,596$1,264$675
21 years$2,908$2,325$1,842$1,448$1,131$582
22 years$2,747$2,170$1,698$1,317$1,014$501
23 years$2,599$2,029$1,567$1,199$910$432
24 years$2,465$1,901$1,450$1,094$818$373
25 years$2,341$1,784$1,343$999$736$323
26 years$2,227$1,677$1,245$913$663$279
27 years$2,121$1,578$1,156$836$598$241
28 years$2,024$1,487$1,075$766$539$209
29 years$1,933$1,403$1,000$702$487$181
30 years$1,848$1,325$932$645$440$157
31 years$1,769$1,253$869$592$398$136
32 years$1,695$1,185$810$544$360$118
33 years$1,626$1,122$757$500$326$102
34 years$1,561$1,064$707$460$295$88
35 years$1,500$1,009$661$424$267$77
36 years$1,442$958$618$390$242$66
37 years$1,388$910$579$360$219$58
38 years$1,336$864$542$331$199$50
39 years$1,288$822$508$306$180$43
40 years$1,241$782$476$282$164$38
41 years$1,198$744$446$260$148$33
42 years$1,156$709$419$240$135$28
43 years$1,116$676$393$222$122$25
44 years$1,079$644$369$205$111$21
45 years$1,043$614$346$189$101$19
46 years$1,009$586$325$175$91$16
47 years$976$559$306$161$83$14
48 years$945$534$287$149$75$12
49 years$915$510$270$138$68$11
50 years$887$487$254$127$62$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $908,000, adding $4,237 every year, while hoping to spend $34,319 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: 76/13/11 Blend
61$908,000$908,000$908,000$908,000
62$1,004,986$956,862$942,788$1,078,982
63$1,070,980$967,234$937,857$1,138,687
64$1,142,555$976,963$931,610$1,199,349
65$1,220,243$985,982$923,967$1,264,880
66$1,304,632$994,219$914,844$1,335,751
67$1,396,367$1,001,598$904,153$1,412,482
68$1,496,156$1,008,036$891,802$1,495,645
69$1,604,781$1,013,447$877,694$1,585,872
70$1,723,099$1,017,737$861,728$1,683,858
71$1,852,058$1,020,808$843,798$1,790,368
72$1,992,695$1,022,555$823,793$1,906,248
73$2,146,158$1,022,868$801,597$2,032,429
74$2,313,704$1,021,627$777,090$2,169,934
75$2,496,723$1,018,708$750,143$2,319,897
76$2,696,741$1,013,977$720,625$2,483,561
77$2,915,440$1,007,292$688,397$2,662,300
78$3,154,670$998,505$653,313$2,857,629
79$3,416,469$987,455$615,223$3,071,215
80$3,703,084$973,975$573,967$3,304,897
81$4,016,984$957,885$529,380$3,560,702
82$4,360,891$938,997$481,290$3,840,865
83$4,737,804$917,109$429,515$4,147,847
84$5,151,023$892,011$373,867$4,484,365
85$5,604,184$863,476$314,148$4,853,409
86$6,101,293$831,268$250,154$5,258,279
87$6,646,758$795,134$181,668$5,702,610
88$7,245,440$754,808$108,466$6,190,409
89$7,902,690$710,009$30,315$6,726,094
90$8,624,404$660,438$0$7,314,534
91$9,417,074$605,781$0$7,967,326
92$10,287,856$545,705$0$8,688,360
93$11,244,631$479,857$0$9,480,624
94$12,296,079$407,867$0$10,351,340
95$13,451,768$329,341$0$11,308,464
96$14,722,233$243,863$0$12,360,767
97$16,119,085$150,997$0$13,517,911
98$17,655,114$50,278$0$14,790,545
99$19,344,412$0$0$16,190,404
100$21,202,506$0$0$17,738,832