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%18.2%
1 years$69,532$68,912$68,308$67,718$67,142$64,915
2 years$34,422$33,781$33,159$32,557$31,973$29,750
3 years$22,720$22,076$21,456$20,859$20,285$18,137
4 years$16,870$16,228$15,615$15,028$14,467$12,411
5 years$13,361$12,723$12,118$11,543$10,998$9,038
6 years$11,023$10,389$9,793$9,231$8,702$6,841
7 years$9,353$8,725$8,138$7,589$7,077$5,314
8 years$8,101$7,479$6,902$6,367$5,871$4,204
9 years$7,128$6,512$5,944$5,423$4,944$3,372
10 years$6,350$5,740$5,182$4,675$4,213$2,733
11 years$5,714$5,110$4,562$4,068$3,623$2,233
12 years$5,184$4,586$4,049$3,568$3,140$1,835
13 years$4,736$4,145$3,618$3,150$2,738$1,516
14 years$4,353$3,767$3,250$2,797$2,400$1,258
15 years$4,021$3,442$2,935$2,494$2,113$1,047
16 years$3,730$3,158$2,661$2,233$1,868$874
17 years$3,474$2,908$2,421$2,006$1,656$731
18 years$3,247$2,687$2,210$1,808$1,472$613
19 years$3,044$2,490$2,023$1,634$1,312$514
20 years$2,862$2,314$1,857$1,480$1,172$432
21 years$2,697$2,156$1,708$1,343$1,049$364
22 years$2,547$2,012$1,574$1,221$940$306
23 years$2,411$1,882$1,453$1,112$844$258
24 years$2,286$1,763$1,344$1,014$759$218
25 years$2,171$1,655$1,245$926$683$184
26 years$2,065$1,555$1,155$847$615$155
27 years$1,967$1,464$1,072$775$554$131
28 years$1,877$1,379$997$710$500$110
29 years$1,792$1,301$928$651$452$93
30 years$1,714$1,229$864$598$408$79
31 years$1,641$1,162$806$549$369$67
32 years$1,572$1,099$752$505$334$56
33 years$1,508$1,041$702$464$302$48
34 years$1,448$986$656$427$274$40
35 years$1,391$936$613$393$248$34
36 years$1,337$888$573$362$224$29
37 years$1,287$843$537$333$203$24
38 years$1,239$802$503$307$184$21
39 years$1,194$762$471$283$167$17
40 years$1,151$725$441$261$152$15
41 years$1,111$690$414$241$138$12
42 years$1,072$657$388$223$125$11
43 years$1,035$626$364$205$113$9
44 years$1,000$597$342$190$103$8
45 years$967$569$321$175$93$6
46 years$935$543$302$162$85$5
47 years$905$518$283$150$77$5
48 years$876$495$266$138$70$4
49 years$849$473$250$128$64$3
50 years$822$451$235$118$58$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $842,000, adding $3,365 every year, while hoping to spend $36,559 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: 41/37/22 Blend
61$842,000$842,000$842,000$842,000
62$931,355$886,729$873,678$963,385
63$987,455$891,280$864,048$991,162
64$1,048,051$894,829$852,870$1,017,459
65$1,113,565$897,288$840,053$1,045,184
66$1,184,457$898,564$825,503$1,074,490
67$1,261,235$898,557$809,121$1,105,543
68$1,344,458$897,163$790,804$1,138,532
69$1,434,739$894,270$770,442$1,173,666
70$1,532,752$889,759$747,921$1,211,179
71$1,639,240$883,505$723,124$1,251,329
72$1,755,020$875,374$695,926$1,294,406
73$1,880,989$865,225$666,197$1,340,732
74$2,018,137$852,907$633,801$1,390,664
75$2,167,550$838,263$598,596$1,444,599
76$2,330,425$821,123$560,435$1,502,980
77$2,508,080$801,309$519,161$1,566,297
78$2,701,964$778,633$474,613$1,635,095
79$2,913,673$752,895$426,621$1,709,979
80$3,144,964$723,884$375,009$1,791,621
81$3,397,771$691,374$319,592$1,880,766
82$3,674,223$655,130$260,178$1,978,240
83$3,976,664$614,902$196,564$2,084,960
84$4,307,675$570,424$128,540$2,201,941
85$4,670,100$521,416$55,888$2,330,310
86$5,067,067$467,583$0$2,471,313
87$5,502,025$408,612$0$2,631,414
88$5,978,769$344,171$0$2,821,392
89$6,501,481$273,913$0$3,029,869
90$7,074,764$197,467$0$3,258,780
91$7,703,692$114,445$0$3,510,265
92$8,393,850$24,434$0$3,786,689
93$9,151,393$0$0$4,090,664
94$9,983,098$0$0$4,454,793
95$10,896,432$0$0$4,865,699
96$11,899,621$0$0$5,317,148
97$13,001,725$0$0$5,813,231
98$14,212,727$0$0$6,358,458
99$15,543,622$0$0$6,957,794
100$17,006,527$0$0$7,616,713