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%15.7%
1 years$74,321$73,659$73,013$72,383$71,767$70,089
2 years$36,793$36,107$35,443$34,799$34,175$32,494
3 years$24,285$23,597$22,934$22,296$21,682$20,050
4 years$18,032$17,346$16,690$16,063$15,464$13,894
5 years$14,281$13,599$12,952$12,338$11,755$10,252
6 years$11,782$11,105$10,467$9,867$9,302$7,867
7 years$9,997$9,326$8,698$8,112$7,565$6,198
8 years$8,659$7,994$7,377$6,805$6,276$4,976
9 years$7,619$6,960$6,354$5,796$5,285$4,053
10 years$6,787$6,135$5,539$4,997$4,503$3,336
11 years$6,108$5,462$4,877$4,348$3,873$2,769
12 years$5,541$4,902$4,328$3,814$3,356$2,314
13 years$5,063$4,430$3,867$3,367$2,927$1,945
14 years$4,653$4,027$3,474$2,989$2,565$1,642
15 years$4,298$3,679$3,137$2,666$2,259$1,391
16 years$3,987$3,375$2,844$2,387$1,996$1,182
17 years$3,714$3,108$2,588$2,145$1,770$1,007
18 years$3,471$2,872$2,362$1,933$1,574$859
19 years$3,254$2,662$2,163$1,746$1,403$735
20 years$3,059$2,474$1,985$1,582$1,253$630
21 years$2,883$2,304$1,826$1,436$1,121$540
22 years$2,722$2,151$1,683$1,305$1,005$464
23 years$2,577$2,012$1,554$1,189$902$398
24 years$2,443$1,885$1,437$1,084$811$343
25 years$2,320$1,769$1,331$990$730$295
26 years$2,207$1,662$1,234$905$657$254
27 years$2,103$1,564$1,146$829$593$219
28 years$2,006$1,474$1,065$759$535$189
29 years$1,916$1,391$991$696$483$163
30 years$1,832$1,313$924$639$436$140
31 years$1,754$1,242$861$587$394$121
32 years$1,680$1,175$803$539$357$104
33 years$1,612$1,113$750$496$323$90
34 years$1,547$1,054$701$456$292$78
35 years$1,487$1,000$655$420$265$67
36 years$1,429$949$613$387$240$58
37 years$1,375$902$574$356$217$50
38 years$1,324$857$537$329$197$43
39 years$1,276$815$503$303$179$37
40 years$1,230$775$472$279$162$32
41 years$1,187$738$442$258$147$28
42 years$1,146$703$415$238$133$24
43 years$1,107$670$389$220$121$21
44 years$1,069$638$366$203$110$18
45 years$1,034$609$343$187$100$16
46 years$1,000$581$322$173$91$13
47 years$968$554$303$160$82$12
48 years$937$529$285$148$75$10
49 years$907$505$267$136$68$9
50 years$879$482$251$126$62$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $900,000, adding $6,024 every year, while hoping to spend $20,528 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: 41/30/29 Blend
61$900,000$900,000$900,000$900,000
62$998,014$950,314$936,364$1,030,217
63$1,077,970$975,037$945,890$1,078,837
64$1,165,393$1,000,285$955,048$1,129,072
65$1,261,024$1,026,059$963,803$1,183,062
66$1,365,677$1,052,365$972,119$1,241,166
67$1,480,249$1,079,204$979,958$1,303,778
68$1,605,729$1,106,580$987,282$1,371,334
69$1,743,205$1,134,494$994,047$1,444,313
70$1,893,874$1,162,946$1,000,210$1,523,245
71$2,059,057$1,191,938$1,005,725$1,608,711
72$2,240,207$1,221,469$1,010,542$1,701,354
73$2,438,924$1,251,538$1,014,612$1,801,881
74$2,656,973$1,282,141$1,017,879$1,911,072
75$2,896,294$1,313,276$1,020,289$2,029,787
76$3,159,029$1,344,939$1,021,781$2,158,973
77$3,447,532$1,377,124$1,022,293$2,299,675
78$3,764,401$1,409,823$1,021,760$2,453,044
79$4,112,495$1,443,030$1,020,114$2,620,348
80$4,494,964$1,476,733$1,017,283$2,802,988
81$4,915,279$1,510,922$1,013,191$3,002,506
82$5,377,265$1,545,584$1,007,760$3,220,600
83$5,885,132$1,580,704$1,000,906$3,459,145
84$6,443,523$1,616,266$992,544$3,720,207
85$7,057,550$1,652,251$982,582$4,006,062
86$7,732,847$1,688,637$970,925$4,319,222
87$8,475,619$1,725,403$957,473$4,662,453
88$9,292,707$1,762,522$942,122$5,038,806
89$10,191,643$1,799,966$924,764$5,451,643
90$11,180,729$1,837,703$905,282$5,904,671
91$12,269,114$1,875,700$883,559$6,401,977
92$13,466,873$1,913,920$859,468$6,948,065
93$14,785,113$1,952,320$832,879$7,547,900
94$16,236,069$1,990,858$803,655$8,206,955
95$17,833,223$2,029,485$771,652$8,931,265
96$19,591,430$2,068,149$736,722$9,727,479
97$21,527,060$2,106,792$698,706$10,602,929
98$23,658,150$2,145,354$657,442$11,565,697
99$26,004,573$2,183,769$612,758$12,624,689
100$28,588,230$2,221,964$564,476$13,789,726