Can I retire at age 62 with 903,000?

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 $903,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.1%
1 years$74,569$73,905$73,257$72,624$72,006$71,673
2 years$36,915$36,228$35,561$34,915$34,289$33,952
3 years$24,366$23,675$23,011$22,371$21,754$21,425
4 years$18,092$17,404$16,746$16,117$15,515$15,196
5 years$14,329$13,645$12,995$12,379$11,794$11,486
6 years$11,821$11,142$10,502$9,900$9,333$9,035
7 years$10,030$9,357$8,727$8,139$7,590$7,304
8 years$8,688$8,021$7,402$6,828$6,297$6,022
9 years$7,644$6,983$6,375$5,816$5,303$5,039
10 years$6,810$6,156$5,558$5,013$4,518$4,266
11 years$6,128$5,480$4,893$4,363$3,886$3,644
12 years$5,560$4,919$4,342$3,827$3,367$3,137
13 years$5,080$4,445$3,880$3,379$2,936$2,716
14 years$4,668$4,040$3,486$2,999$2,574$2,364
15 years$4,312$3,691$3,147$2,675$2,266$2,067
16 years$4,001$3,386$2,854$2,395$2,003$1,813
17 years$3,726$3,119$2,597$2,152$1,776$1,596
18 years$3,483$2,882$2,370$1,939$1,579$1,408
19 years$3,265$2,671$2,170$1,752$1,408$1,245
20 years$3,069$2,482$1,991$1,587$1,257$1,104
21 years$2,892$2,312$1,832$1,440$1,125$980
22 years$2,732$2,158$1,688$1,310$1,008$871
23 years$2,585$2,018$1,559$1,193$905$776
24 years$2,451$1,891$1,442$1,088$814$691
25 years$2,328$1,775$1,335$993$732$617
26 years$2,215$1,668$1,238$908$660$551
27 years$2,110$1,570$1,150$831$595$493
28 years$2,013$1,479$1,069$762$537$441
29 years$1,922$1,395$995$699$484$394
30 years$1,838$1,318$927$641$438$353
31 years$1,760$1,246$864$589$396$317
32 years$1,686$1,179$806$541$358$284
33 years$1,617$1,116$753$498$324$255
34 years$1,552$1,058$703$458$293$228
35 years$1,492$1,003$657$421$266$205
36 years$1,434$952$615$388$241$184
37 years$1,380$905$576$358$218$165
38 years$1,329$860$539$330$198$148
39 years$1,280$817$505$304$179$133
40 years$1,235$778$473$280$163$120
41 years$1,191$740$444$259$148$108
42 years$1,150$705$416$239$134$97
43 years$1,110$672$391$220$122$87
44 years$1,073$640$367$203$110$78
45 years$1,037$611$344$188$100$70
46 years$1,003$583$323$174$91$63
47 years$971$556$304$160$83$57
48 years$940$531$286$148$75$51
49 years$910$507$268$137$68$46
50 years$882$484$252$127$62$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $903,000, adding $2,013 every year, while hoping to spend $50,203 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: 54/41/5 Blend
61$903,000$903,000$903,000$903,000
62$997,182$949,323$935,327$1,049,871
63$1,045,479$942,425$913,245$1,078,768
64$1,097,020$933,505$888,740$1,104,466
65$1,152,082$922,413$861,679$1,131,197
66$1,210,971$908,987$831,921$1,159,065
67$1,274,019$893,057$799,320$1,188,190
68$1,341,593$874,441$763,722$1,218,702
69$1,414,096$852,949$724,966$1,250,752
70$1,491,966$828,376$682,885$1,284,504
71$1,575,689$800,509$637,304$1,320,145
72$1,665,795$769,120$588,040$1,357,886
73$1,762,868$733,968$534,901$1,397,958
74$1,867,548$694,800$477,687$1,440,625
75$1,980,538$651,345$416,190$1,486,178
76$2,102,612$603,321$350,192$1,534,944
77$2,234,620$550,424$279,465$1,587,288
78$2,377,495$492,339$203,770$1,643,616
79$2,532,264$428,728$122,861$1,704,382
80$2,700,055$359,236$36,478$1,770,092
81$2,882,111$283,489$0$1,841,310
82$3,079,796$201,089$0$1,921,635
83$3,294,611$111,619$0$2,011,064
84$3,528,209$14,636$0$2,108,440
85$3,782,407$0$0$2,214,646
86$4,059,204$0$0$2,371,411
87$4,360,801$0$0$2,549,495
88$4,689,618$0$0$2,743,734
89$5,048,321$0$0$2,955,711
90$5,439,844$0$0$3,187,173
91$5,867,414$0$0$3,440,037
92$6,334,587$0$0$3,716,419
93$6,845,276$0$0$4,018,645
94$7,403,788$0$0$4,349,277
95$8,014,868$0$0$4,711,136
96$8,683,739$0$0$5,107,329
97$9,416,152$0$0$5,541,278
98$10,218,441$0$0$6,016,749
99$11,097,582$0$0$6,537,891
100$12,061,257$0$0$7,109,273