Can I retire at age 62 with 842,000?

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 $842,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$69,532$68,912$68,308$67,718$67,142$65,413
2 years$34,422$33,781$33,159$32,557$31,973$30,242
3 years$22,720$22,076$21,456$20,859$20,285$18,607
4 years$16,870$16,228$15,615$15,028$14,467$12,855
5 years$13,361$12,723$12,118$11,543$10,998$9,455
6 years$11,023$10,389$9,793$9,231$8,702$7,231
7 years$9,353$8,725$8,138$7,589$7,077$5,678
8 years$8,101$7,479$6,902$6,367$5,871$4,543
9 years$7,128$6,512$5,944$5,423$4,944$3,686
10 years$6,350$5,740$5,182$4,675$4,213$3,023
11 years$5,714$5,110$4,562$4,068$3,623$2,500
12 years$5,184$4,586$4,049$3,568$3,140$2,081
13 years$4,736$4,145$3,618$3,150$2,738$1,742
14 years$4,353$3,767$3,250$2,797$2,400$1,464
15 years$4,021$3,442$2,935$2,494$2,113$1,235
16 years$3,730$3,158$2,661$2,233$1,868$1,045
17 years$3,474$2,908$2,421$2,006$1,656$887
18 years$3,247$2,687$2,210$1,808$1,472$753
19 years$3,044$2,490$2,023$1,634$1,312$642
20 years$2,862$2,314$1,857$1,480$1,172$547
21 years$2,697$2,156$1,708$1,343$1,049$467
22 years$2,547$2,012$1,574$1,221$940$399
23 years$2,411$1,882$1,453$1,112$844$341
24 years$2,286$1,763$1,344$1,014$759$292
25 years$2,171$1,655$1,245$926$683$250
26 years$2,065$1,555$1,155$847$615$215
27 years$1,967$1,464$1,072$775$554$184
28 years$1,877$1,379$997$710$500$158
29 years$1,792$1,301$928$651$452$135
30 years$1,714$1,229$864$598$408$116
31 years$1,641$1,162$806$549$369$100
32 years$1,572$1,099$752$505$334$86
33 years$1,508$1,041$702$464$302$74
34 years$1,448$986$656$427$274$63
35 years$1,391$936$613$393$248$54
36 years$1,337$888$573$362$224$47
37 years$1,287$843$537$333$203$40
38 years$1,239$802$503$307$184$34
39 years$1,194$762$471$283$167$30
40 years$1,151$725$441$261$152$25
41 years$1,111$690$414$241$138$22
42 years$1,072$657$388$223$125$19
43 years$1,035$626$364$205$113$16
44 years$1,000$597$342$190$103$14
45 years$967$569$321$175$93$12
46 years$935$543$302$162$85$10
47 years$905$518$283$150$77$9
48 years$876$495$266$138$70$8
49 years$849$473$250$128$64$7
50 years$822$451$235$118$58$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $842,000, adding $2,939 every year, while hoping to spend $55,055 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: 70/8/22 Blend
61$842,000$842,000$842,000$842,000
62$930,916$886,290$873,239$990,783
63$967,291$871,140$843,914$1,015,999
64$1,005,531$853,402$811,762$1,036,851
65$1,045,769$832,892$776,629$1,058,338
66$1,088,147$809,414$738,356$1,080,519
67$1,132,823$782,760$696,776$1,103,459
68$1,179,967$752,712$651,714$1,127,231
69$1,229,765$719,036$602,988$1,151,918
70$1,282,420$681,487$550,407$1,177,613
71$1,338,153$639,806$493,771$1,204,420
72$1,397,206$593,718$432,874$1,232,455
73$1,459,843$542,932$367,497$1,261,848
74$1,526,352$487,141$297,414$1,292,745
75$1,597,051$426,022$222,388$1,325,309
76$1,672,283$359,230$142,171$1,359,720
77$1,752,427$286,404$56,505$1,396,183
78$1,837,898$207,161$0$1,434,922
79$1,929,149$121,097$0$1,484,387
80$2,026,676$27,785$0$1,551,351
81$2,131,025$0$0$1,622,916
82$2,242,793$0$0$1,705,951
83$2,362,635$0$0$1,797,637
84$2,491,269$0$0$1,896,081
85$2,629,485$0$0$2,001,892
86$2,778,149$0$0$2,115,736
87$2,938,211$0$0$2,238,347
88$3,110,714$0$0$2,370,529
89$3,296,807$0$0$2,513,164
90$3,497,748$0$0$2,667,225
91$3,714,922$0$0$2,833,779
92$3,949,850$0$0$3,013,998
93$4,204,206$0$0$3,209,171
94$4,479,827$0$0$3,420,715
95$4,778,735$0$0$3,650,190
96$5,103,154$0$0$3,899,308
97$5,455,529$0$0$4,169,956
98$5,838,549$0$0$4,464,207
99$6,255,174$0$0$4,784,343
100$6,708,659$0$0$5,132,873