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%11.8%
1 years$74,982$74,314$73,662$73,026$72,405$71,859
2 years$37,120$36,428$35,758$35,109$34,479$33,928
3 years$24,501$23,806$23,138$22,495$21,875$21,336
4 years$18,192$17,500$16,839$16,206$15,601$15,079
5 years$14,408$13,720$13,067$12,448$11,860$11,356
6 years$11,887$11,204$10,560$9,955$9,384$8,900
7 years$10,086$9,409$8,776$8,184$7,632$7,166
8 years$8,736$8,065$7,443$6,866$6,331$5,885
9 years$7,687$7,022$6,410$5,848$5,332$4,905
10 years$6,848$6,190$5,589$5,041$4,543$4,135
11 years$6,162$5,510$4,920$4,387$3,907$3,517
12 years$5,591$4,946$4,366$3,848$3,386$3,014
13 years$5,108$4,470$3,901$3,397$2,953$2,598
14 years$4,694$4,063$3,505$3,016$2,588$2,251
15 years$4,336$3,711$3,165$2,690$2,279$1,959
16 years$4,023$3,405$2,869$2,408$2,014$1,710
17 years$3,747$3,136$2,611$2,164$1,786$1,498
18 years$3,502$2,898$2,383$1,950$1,588$1,315
19 years$3,283$2,686$2,182$1,762$1,415$1,158
20 years$3,086$2,496$2,002$1,596$1,264$1,021
21 years$2,908$2,325$1,842$1,448$1,131$901
22 years$2,747$2,170$1,698$1,317$1,014$797
23 years$2,599$2,029$1,567$1,199$910$706
24 years$2,465$1,901$1,450$1,094$818$626
25 years$2,341$1,784$1,343$999$736$556
26 years$2,227$1,677$1,245$913$663$494
27 years$2,121$1,578$1,156$836$598$439
28 years$2,024$1,487$1,075$766$539$390
29 years$1,933$1,403$1,000$702$487$348
30 years$1,848$1,325$932$645$440$310
31 years$1,769$1,253$869$592$398$276
32 years$1,695$1,185$810$544$360$246
33 years$1,626$1,122$757$500$326$219
34 years$1,561$1,064$707$460$295$196
35 years$1,500$1,009$661$424$267$174
36 years$1,442$958$618$390$242$156
37 years$1,388$910$579$360$219$139
38 years$1,336$864$542$331$199$124
39 years$1,288$822$508$306$180$111
40 years$1,241$782$476$282$164$99
41 years$1,198$744$446$260$148$88
42 years$1,156$709$419$240$135$79
43 years$1,116$676$393$222$122$71
44 years$1,079$644$369$205$111$63
45 years$1,043$614$346$189$101$56
46 years$1,009$586$325$175$91$50
47 years$976$559$306$161$83$45
48 years$945$534$287$149$75$40
49 years$915$510$270$138$68$36
50 years$887$487$254$127$62$32

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $908,000, adding $2,761 every year, while hoping to spend $53,506 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: 32/41/27 Blend
61$908,000$908,000$908,000$908,000
62$1,003,464$955,340$941,266$1,027,223
63$1,048,887$945,222$915,868$1,035,495
64$1,097,151$932,814$887,827$1,039,465
65$1,148,487$917,949$856,996$1,042,685
66$1,203,151$900,448$823,224$1,045,129
67$1,261,424$880,120$786,353$1,046,769
68$1,323,609$856,767$746,216$1,047,579
69$1,390,044$830,175$702,641$1,047,540
70$1,461,095$800,120$655,446$1,046,633
71$1,537,165$766,364$604,442$1,044,845
72$1,618,696$728,656$549,431$1,042,170
73$1,706,172$686,729$490,206$1,038,605
74$1,800,126$640,303$426,552$1,034,158
75$1,901,140$589,079$358,243$1,028,844
76$2,009,856$532,744$285,044$1,022,687
77$2,126,977$470,964$206,709$1,015,724
78$2,253,277$403,389$122,981$1,008,006
79$2,389,603$329,647$33,593$999,598
80$2,536,889$249,347$0$990,581
81$2,696,160$162,073$0$998,863
82$2,868,543$67,389$0$1,018,249
83$3,055,275$0$0$1,039,287
84$3,257,720$0$0$1,078,115
85$3,477,375$0$0$1,153,348
86$3,715,887$0$0$1,235,160
87$3,975,067$0$0$1,324,188
88$4,256,909$0$0$1,421,133
89$4,563,605$0$0$1,526,765
90$4,897,567$0$0$1,641,934
91$5,261,450$0$0$1,767,571
92$5,658,176$0$0$1,904,706
93$6,090,959$0$0$2,054,469
94$6,563,340$0$0$2,218,106
95$7,079,213$0$0$2,396,987
96$7,642,867$0$0$2,592,622
97$8,259,023$0$0$2,806,673
98$8,932,880$0$0$3,040,969
99$9,670,160$0$0$3,297,527
100$10,477,166$0$0$3,578,564