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%11.2%
1 years$74,817$74,150$73,500$72,865$72,246$71,881
2 years$37,038$36,348$35,680$35,031$34,403$34,034
3 years$24,447$23,754$23,087$22,445$21,826$21,466
4 years$18,152$17,462$16,801$16,170$15,567$15,217
5 years$14,377$13,690$13,039$12,420$11,834$11,496
6 years$11,860$11,179$10,537$9,933$9,364$9,038
7 years$10,064$9,388$8,756$8,166$7,615$7,302
8 years$8,717$8,047$7,426$6,850$6,317$6,017
9 years$7,670$7,007$6,396$5,835$5,320$5,032
10 years$6,833$6,176$5,576$5,030$4,533$4,257
11 years$6,148$5,498$4,909$4,377$3,899$3,635
12 years$5,578$4,935$4,357$3,840$3,378$3,127
13 years$5,096$4,460$3,893$3,390$2,946$2,706
14 years$4,684$4,054$3,497$3,009$2,583$2,354
15 years$4,326$3,703$3,158$2,684$2,274$2,056
16 years$4,014$3,398$2,863$2,403$2,010$1,803
17 years$3,739$3,129$2,605$2,159$1,782$1,585
18 years$3,494$2,891$2,378$1,946$1,584$1,398
19 years$3,276$2,680$2,177$1,758$1,412$1,236
20 years$3,079$2,490$1,998$1,592$1,261$1,094
21 years$2,902$2,319$1,838$1,445$1,129$971
22 years$2,741$2,165$1,694$1,314$1,012$862
23 years$2,594$2,025$1,564$1,197$908$767
24 years$2,459$1,897$1,446$1,091$816$683
25 years$2,336$1,780$1,340$997$735$609
26 years$2,222$1,673$1,242$911$662$544
27 years$2,117$1,575$1,154$834$597$486
28 years$2,019$1,484$1,073$764$538$434
29 years$1,929$1,400$998$701$486$388
30 years$1,844$1,322$930$643$439$348
31 years$1,765$1,250$867$591$397$311
32 years$1,692$1,183$809$543$359$279
33 years$1,623$1,120$755$499$325$250
34 years$1,558$1,061$705$459$294$224
35 years$1,496$1,007$660$423$267$201
36 years$1,439$956$617$389$242$180
37 years$1,385$908$578$359$219$162
38 years$1,333$863$541$331$198$145
39 years$1,285$820$507$305$180$130
40 years$1,239$780$475$281$163$117
41 years$1,195$743$445$260$148$105
42 years$1,153$707$418$239$134$94
43 years$1,114$674$392$221$122$85
44 years$1,076$642$368$204$111$76
45 years$1,041$613$345$189$100$68
46 years$1,007$584$324$174$91$61
47 years$974$558$305$161$83$55
48 years$943$532$286$149$75$50
49 years$913$508$269$137$68$45
50 years$885$486$253$127$62$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $906,000, adding $4,818 every year, while hoping to spend $23,681 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: 46/31/23 Blend
61$906,000$906,000$906,000$906,000
62$1,003,382$955,364$941,321$1,042,719
63$1,080,530$976,980$947,659$1,092,469
64$1,164,754$998,862$953,415$1,143,703
65$1,256,750$1,020,998$958,546$1,198,813
66$1,357,286$1,043,373$963,004$1,258,171
67$1,467,205$1,065,974$966,740$1,322,190
68$1,587,437$1,088,784$969,703$1,391,322
69$1,719,005$1,111,785$971,838$1,466,069
70$1,863,038$1,134,957$973,089$1,546,982
71$2,020,776$1,158,278$973,396$1,634,668
72$2,193,587$1,181,724$972,696$1,729,798
73$2,382,974$1,205,271$970,923$1,833,111
74$2,590,597$1,228,888$968,008$1,945,422
75$2,818,281$1,252,547$963,880$2,067,630
76$3,068,037$1,276,213$958,461$2,200,725
77$3,342,081$1,299,851$951,673$2,345,799
78$3,642,852$1,323,423$943,433$2,504,058
79$3,973,037$1,346,885$933,653$2,676,829
80$4,335,598$1,370,194$922,241$2,865,576
81$4,733,796$1,393,299$909,102$3,071,915
82$5,171,222$1,416,150$894,137$3,297,626
83$5,651,835$1,438,690$877,239$3,544,671
84$6,179,995$1,460,859$858,299$3,815,216
85$6,760,505$1,482,591$837,202$4,111,646
86$7,398,657$1,503,818$813,829$4,436,595
87$8,100,280$1,524,466$788,052$4,792,962
88$8,871,798$1,544,454$759,742$5,183,947
89$9,720,288$1,563,699$728,760$5,613,077
90$10,653,546$1,582,109$694,962$6,084,241
91$11,680,163$1,599,587$658,198$6,601,727
92$12,809,603$1,616,031$618,311$7,170,260
93$14,052,295$1,631,329$575,137$7,795,054
94$15,419,729$1,645,364$528,504$8,481,854
95$16,924,566$1,658,011$478,233$9,236,994
96$18,580,754$1,669,136$424,137$10,067,457
97$20,403,666$1,678,598$366,020$10,980,944
98$22,410,235$1,686,246$303,678$11,985,941
99$24,619,126$1,691,918$236,897$13,091,806
100$27,050,898$1,695,444$165,455$14,308,854