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%19.3%
1 years$74,321$73,659$73,013$72,383$71,767$69,084
2 years$36,793$36,107$35,443$34,799$34,175$31,502
3 years$24,285$23,597$22,934$22,296$21,682$19,104
4 years$18,032$17,346$16,690$16,063$15,464$13,000
5 years$14,281$13,599$12,952$12,338$11,755$9,412
6 years$11,782$11,105$10,467$9,867$9,302$7,081
7 years$9,997$9,326$8,698$8,112$7,565$5,466
8 years$8,659$7,994$7,377$6,805$6,276$4,297
9 years$7,619$6,960$6,354$5,796$5,285$3,423
10 years$6,787$6,135$5,539$4,997$4,503$2,755
11 years$6,108$5,462$4,877$4,348$3,873$2,234
12 years$5,541$4,902$4,328$3,814$3,356$1,824
13 years$5,063$4,430$3,867$3,367$2,927$1,495
14 years$4,653$4,027$3,474$2,989$2,565$1,231
15 years$4,298$3,679$3,137$2,666$2,259$1,017
16 years$3,987$3,375$2,844$2,387$1,996$842
17 years$3,714$3,108$2,588$2,145$1,770$699
18 years$3,471$2,872$2,362$1,933$1,574$581
19 years$3,254$2,662$2,163$1,746$1,403$483
20 years$3,059$2,474$1,985$1,582$1,253$403
21 years$2,883$2,304$1,826$1,436$1,121$336
22 years$2,722$2,151$1,683$1,305$1,005$280
23 years$2,577$2,012$1,554$1,189$902$234
24 years$2,443$1,885$1,437$1,084$811$196
25 years$2,320$1,769$1,331$990$730$164
26 years$2,207$1,662$1,234$905$657$137
27 years$2,103$1,564$1,146$829$593$115
28 years$2,006$1,474$1,065$759$535$96
29 years$1,916$1,391$991$696$483$80
30 years$1,832$1,313$924$639$436$67
31 years$1,754$1,242$861$587$394$56
32 years$1,680$1,175$803$539$357$47
33 years$1,612$1,113$750$496$323$40
34 years$1,547$1,054$701$456$292$33
35 years$1,487$1,000$655$420$265$28
36 years$1,429$949$613$387$240$23
37 years$1,375$902$574$356$217$19
38 years$1,324$857$537$329$197$16
39 years$1,276$815$503$303$179$14
40 years$1,230$775$472$279$162$11
41 years$1,187$738$442$258$147$10
42 years$1,146$703$415$238$133$8
43 years$1,107$670$389$220$121$7
44 years$1,069$638$366$203$110$6
45 years$1,034$609$343$187$100$5
46 years$1,000$581$322$173$91$4
47 years$968$554$303$160$82$3
48 years$937$529$285$148$75$3
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 $6,178 every year, while hoping to spend $48,914 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: 83/5/12 Blend
61$900,000$900,000$900,000$900,000
62$998,173$950,473$936,523$1,078,408
63$1,047,942$945,002$915,852$1,126,403
64$1,101,149$937,623$892,850$1,171,978
65$1,158,091$928,192$867,385$1,220,563
66$1,219,098$916,555$839,324$1,272,431
67$1,284,528$902,548$808,523$1,327,887
68$1,354,776$885,999$774,835$1,387,263
69$1,430,274$866,724$738,103$1,450,927
70$1,511,499$844,531$698,167$1,519,283
71$1,598,972$819,213$654,855$1,592,777
72$1,693,266$790,553$607,992$1,671,900
73$1,795,011$758,322$557,392$1,757,194
74$1,904,899$722,276$502,861$1,849,254
75$2,023,689$682,158$444,197$1,948,737
76$2,152,217$637,696$381,189$2,056,367
77$2,291,401$588,601$313,617$2,172,941
78$2,442,252$534,570$241,251$2,299,340
79$2,605,878$475,281$163,850$2,436,532
80$2,783,502$410,394$81,163$2,585,585
81$2,976,466$339,550$0$2,747,676
82$3,186,248$262,370$0$2,925,009
83$3,414,471$178,453$0$3,129,257
84$3,662,926$87,375$0$3,351,631
85$3,933,578$0$0$3,593,907
86$4,228,593$0$0$3,858,661
87$4,550,355$0$0$4,152,678
88$4,901,484$0$0$4,473,548
89$5,284,870$0$0$4,823,911
90$5,703,689$0$0$5,206,675
91$6,161,440$0$0$5,625,038
92$6,661,975$0$0$6,082,524
93$7,209,534$0$0$6,583,011
94$7,808,788$0$0$7,130,770
95$8,464,878$0$0$7,730,503
96$9,183,466$0$0$8,387,389
97$9,970,788$0$0$9,107,132
98$10,833,711$0$0$9,896,012
99$11,779,799$0$0$10,760,946
100$12,817,380$0$0$11,709,553