Can I retire at age 62 with 900,000?

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 $900,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$74,321$73,659$73,013$72,383$71,767$68,920
2 years$36,793$36,107$35,443$34,799$34,175$31,341
3 years$24,285$23,597$22,934$22,296$21,682$18,952
4 years$18,032$17,346$16,690$16,063$15,464$12,857
5 years$14,281$13,599$12,952$12,338$11,755$9,280
6 years$11,782$11,105$10,467$9,867$9,302$6,958
7 years$9,997$9,326$8,698$8,112$7,565$5,353
8 years$8,659$7,994$7,377$6,805$6,276$4,193
9 years$7,619$6,960$6,354$5,796$5,285$3,328
10 years$6,787$6,135$5,539$4,997$4,503$2,668
11 years$6,108$5,462$4,877$4,348$3,873$2,156
12 years$5,541$4,902$4,328$3,814$3,356$1,752
13 years$5,063$4,430$3,867$3,367$2,927$1,431
14 years$4,653$4,027$3,474$2,989$2,565$1,173
15 years$4,298$3,679$3,137$2,666$2,259$965
16 years$3,987$3,375$2,844$2,387$1,996$795
17 years$3,714$3,108$2,588$2,145$1,770$657
18 years$3,471$2,872$2,362$1,933$1,574$544
19 years$3,254$2,662$2,163$1,746$1,403$450
20 years$3,059$2,474$1,985$1,582$1,253$374
21 years$2,883$2,304$1,826$1,436$1,121$310
22 years$2,722$2,151$1,683$1,305$1,005$258
23 years$2,577$2,012$1,554$1,189$902$214
24 years$2,443$1,885$1,437$1,084$811$178
25 years$2,320$1,769$1,331$990$730$148
26 years$2,207$1,662$1,234$905$657$124
27 years$2,103$1,564$1,146$829$593$103
28 years$2,006$1,474$1,065$759$535$86
29 years$1,916$1,391$991$696$483$71
30 years$1,832$1,313$924$639$436$59
31 years$1,754$1,242$861$587$394$50
32 years$1,680$1,175$803$539$357$41
33 years$1,612$1,113$750$496$323$34
34 years$1,547$1,054$701$456$292$29
35 years$1,487$1,000$655$420$265$24
36 years$1,429$949$613$387$240$20
37 years$1,375$902$574$356$217$17
38 years$1,324$857$537$329$197$14
39 years$1,276$815$503$303$179$12
40 years$1,230$775$472$279$162$10
41 years$1,187$738$442$258$147$8
42 years$1,146$703$415$238$133$7
43 years$1,107$670$389$220$121$6
44 years$1,069$638$366$203$110$5
45 years$1,034$609$343$187$100$4
46 years$1,000$581$322$173$91$3
47 years$968$554$303$160$82$3
48 years$937$529$285$148$75$2
49 years$907$505$267$136$68$2
50 years$879$482$251$126$62$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $900,000, adding $3,453 every year, while hoping to spend $27,486 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: 60/26/14 Blend
61$900,000$900,000$900,000$900,000
62$995,362$947,662$933,712$1,051,417
63$1,067,644$964,852$935,746$1,106,773
64$1,146,377$981,964$936,928$1,163,742
65$1,232,191$998,964$937,198$1,225,232
66$1,325,779$1,015,817$936,498$1,291,684
67$1,427,900$1,032,484$934,763$1,363,582
68$1,539,396$1,048,925$931,927$1,441,458
69$1,661,188$1,065,097$927,921$1,525,903
70$1,794,293$1,080,950$922,670$1,617,563
71$1,939,831$1,096,437$916,099$1,717,156
72$2,099,033$1,111,501$908,128$1,825,468
73$2,273,255$1,126,086$898,671$1,943,369
74$2,463,992$1,140,129$887,642$2,071,818
75$2,672,889$1,153,565$874,947$2,211,870
76$2,901,756$1,166,322$860,490$2,364,689
77$3,152,589$1,178,326$844,171$2,531,561
78$3,427,585$1,189,496$825,882$2,713,901
79$3,729,164$1,199,746$805,514$2,913,269
80$4,059,990$1,208,985$782,951$3,131,385
81$4,423,001$1,217,117$758,071$3,370,148
82$4,821,428$1,224,037$730,748$3,631,649
83$5,258,834$1,229,635$700,848$3,918,193
84$5,739,143$1,233,795$668,234$4,232,324
85$6,266,676$1,236,391$632,761$4,576,843
86$6,846,195$1,237,293$594,276$4,954,842
87$7,482,945$1,236,358$552,623$5,369,727
88$8,182,705$1,233,439$507,635$5,825,255
89$8,951,839$1,228,376$459,139$6,325,566
90$9,797,362$1,221,002$406,956$6,875,227
91$10,727,000$1,211,138$350,896$7,479,269
92$11,749,266$1,198,595$290,762$8,143,242
93$12,873,538$1,183,174$226,350$8,873,264
94$14,110,151$1,164,661$157,445$9,676,076
95$15,470,488$1,142,831$83,821$10,559,114
96$16,967,095$1,117,447$5,246$11,530,574
97$18,613,792$1,088,255$0$12,599,489
98$20,425,807$1,054,988$0$13,787,561
99$22,419,921$1,017,364$0$15,095,627
100$24,614,621$975,083$0$16,535,045