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%17.6%
1 years$74,899$74,232$73,581$72,946$72,325$70,094
2 years$37,079$36,388$35,719$35,070$34,441$32,213
3 years$24,474$23,780$23,113$22,470$21,851$19,695
4 years$18,172$17,481$16,820$16,188$15,584$13,518
5 years$14,393$13,705$13,053$12,434$11,847$9,875
6 years$11,873$11,191$10,549$9,944$9,374$7,499
7 years$10,075$9,398$8,766$8,175$7,624$5,845
8 years$8,726$8,056$7,434$6,858$6,324$4,641
9 years$7,678$7,014$6,403$5,841$5,326$3,736
10 years$6,840$6,183$5,582$5,035$4,538$3,039
11 years$6,155$5,504$4,915$4,382$3,903$2,492
12 years$5,584$4,940$4,362$3,844$3,382$2,057
13 years$5,102$4,465$3,897$3,394$2,949$1,707
14 years$4,689$4,058$3,501$3,012$2,585$1,422
15 years$4,331$3,707$3,161$2,687$2,276$1,189
16 years$4,018$3,401$2,866$2,406$2,012$996
17 years$3,743$3,132$2,608$2,161$1,784$837
18 years$3,498$2,895$2,381$1,948$1,586$705
19 years$3,279$2,683$2,180$1,760$1,414$594
20 years$3,083$2,493$2,000$1,594$1,263$502
21 years$2,905$2,322$1,840$1,447$1,130$424
22 years$2,744$2,167$1,696$1,315$1,013$359
23 years$2,597$2,027$1,566$1,198$909$304
24 years$2,462$1,899$1,448$1,093$817$257
25 years$2,338$1,782$1,341$998$735$218
26 years$2,224$1,675$1,244$912$662$185
27 years$2,119$1,577$1,155$835$597$157
28 years$2,022$1,486$1,074$765$539$133
29 years$1,931$1,401$999$702$487$113
30 years$1,846$1,324$931$644$440$96
31 years$1,767$1,251$868$591$398$82
32 years$1,694$1,184$810$544$360$69
33 years$1,624$1,121$756$500$325$59
34 years$1,559$1,063$706$460$295$50
35 years$1,498$1,008$660$423$267$43
36 years$1,441$957$618$390$242$36
37 years$1,386$909$578$359$219$31
38 years$1,335$863$541$331$199$26
39 years$1,286$821$507$305$180$22
40 years$1,240$781$475$282$163$19
41 years$1,196$744$446$260$148$16
42 years$1,155$708$418$240$135$14
43 years$1,115$675$392$221$122$12
44 years$1,078$643$368$204$111$10
45 years$1,042$613$346$189$101$8
46 years$1,008$585$325$174$91$7
47 years$975$558$305$161$83$6
48 years$944$533$287$149$75$5
49 years$914$509$270$138$68$4
50 years$886$486$253$127$62$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $907,000, adding $2,782 every year, while hoping to spend $36,830 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: 43/31/26 Blend
61$907,000$907,000$907,000$907,000
62$1,002,384$954,313$940,254$1,037,784
63$1,065,440$961,887$932,566$1,070,910
64$1,133,694$968,598$923,386$1,103,052
65$1,207,636$974,365$912,624$1,137,161
66$1,287,807$979,101$900,190$1,173,438
67$1,374,801$982,715$885,983$1,212,110
68$1,469,270$985,108$869,904$1,253,428
69$1,571,934$986,176$851,844$1,297,669
70$1,683,583$985,811$831,692$1,345,142
71$1,805,087$983,893$809,332$1,396,189
72$1,937,401$980,300$784,641$1,451,192
73$2,081,581$974,899$757,490$1,510,571
74$2,238,783$967,550$727,747$1,574,795
75$2,410,283$958,105$695,271$1,644,382
76$2,597,486$946,406$659,917$1,719,906
77$2,801,936$932,286$621,530$1,802,006
78$3,025,334$915,569$579,953$1,891,386
79$3,269,554$896,067$535,016$1,988,828
80$3,536,656$873,582$486,547$2,095,199
81$3,828,911$847,904$434,363$2,211,456
82$4,148,819$818,810$378,273$2,338,661
83$4,499,133$786,066$318,079$2,477,989
84$4,882,883$749,422$253,574$2,630,738
85$5,303,409$708,615$184,540$2,798,349
86$5,764,385$663,366$110,751$2,982,410
87$6,269,862$613,381$31,971$3,184,683
88$6,824,300$558,348$0$3,407,112
89$7,432,610$497,938$0$3,666,304
90$8,100,202$431,804$0$3,960,587
91$8,833,038$359,577$0$4,283,788
92$9,637,681$280,869$0$4,638,890
93$10,521,363$195,270$0$5,029,186
94$11,492,050$102,347$0$5,458,310
95$12,558,520$1,643$0$5,930,270
96$13,730,439$0$0$6,449,491
97$15,018,459$0$0$7,057,464
98$16,434,314$0$0$7,726,517
99$17,990,931$0$0$8,462,212
100$19,702,553$0$0$9,271,298