Can I retire at age 62 with 845,000?

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 $845,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.1%
1 years$69,779$69,158$68,551$67,959$67,381$64,913
2 years$34,544$33,901$33,277$32,673$32,086$29,627
3 years$22,801$22,155$21,533$20,934$20,357$17,984
4 years$16,930$16,286$15,670$15,082$14,519$12,250
5 years$13,409$12,768$12,161$11,584$11,037$8,879
6 years$11,062$10,426$9,828$9,264$8,733$6,687
7 years$9,386$8,756$8,167$7,616$7,102$5,168
8 years$8,130$7,506$6,926$6,389$5,892$4,067
9 years$7,153$6,535$5,965$5,442$4,962$3,244
10 years$6,373$5,760$5,201$4,691$4,228$2,614
11 years$5,734$5,128$4,579$4,083$3,636$2,123
12 years$5,203$4,603$4,064$3,581$3,151$1,735
13 years$4,753$4,159$3,630$3,162$2,748$1,425
14 years$4,368$3,781$3,262$2,807$2,409$1,175
15 years$4,035$3,454$2,945$2,503$2,121$972
16 years$3,744$3,169$2,670$2,241$1,874$806
17 years$3,487$2,918$2,430$2,014$1,662$669
18 years$3,259$2,697$2,218$1,815$1,478$557
19 years$3,055$2,499$2,031$1,640$1,317$465
20 years$2,872$2,322$1,864$1,485$1,176$388
21 years$2,706$2,163$1,714$1,348$1,053$324
22 years$2,556$2,019$1,580$1,225$944$271
23 years$2,419$1,889$1,459$1,116$847$227
24 years$2,294$1,770$1,349$1,018$761$190
25 years$2,179$1,661$1,249$930$685$159
26 years$2,072$1,561$1,159$850$617$133
27 years$1,974$1,469$1,076$778$556$112
28 years$1,883$1,384$1,000$713$502$94
29 years$1,799$1,306$931$654$453$78
30 years$1,720$1,233$867$600$410$66
31 years$1,647$1,166$808$551$370$55
32 years$1,578$1,103$754$506$335$46
33 years$1,513$1,045$704$466$303$39
34 years$1,453$990$658$428$274$33
35 years$1,396$939$615$394$249$27
36 years$1,342$891$575$363$225$23
37 years$1,291$846$539$335$204$19
38 years$1,244$804$504$308$185$16
39 years$1,198$765$473$284$168$14
40 years$1,155$728$443$262$152$11
41 years$1,115$693$415$242$138$10
42 years$1,076$660$390$223$125$8
43 years$1,039$629$366$206$114$7
44 years$1,004$599$343$190$103$6
45 years$971$571$322$176$94$5
46 years$939$545$303$162$85$4
47 years$908$520$284$150$77$3
48 years$879$497$267$139$70$3
49 years$852$474$251$128$64$2
50 years$825$453$236$118$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $845,000, adding $6,480 every year, while hoping to spend $46,602 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: 65/23/12 Blend
61$845,000$845,000$845,000$845,000
62$937,874$893,089$879,992$995,866
63$983,953$887,266$859,887$1,029,565
64$1,033,170$879,596$837,547$1,060,326
65$1,085,796$869,939$812,848$1,092,760
66$1,142,129$858,147$785,659$1,127,030
67$1,202,493$844,063$755,846$1,163,313
68$1,267,245$827,521$723,265$1,201,807
69$1,336,779$808,344$687,769$1,242,734
70$1,411,524$786,346$649,203$1,286,337
71$1,491,952$761,330$607,404$1,332,886
72$1,578,582$733,086$562,203$1,382,683
73$1,671,984$701,394$513,423$1,436,059
74$1,772,783$666,018$460,879$1,493,383
75$1,881,666$626,713$404,378$1,555,065
76$1,999,389$583,215$343,718$1,621,557
77$2,126,783$535,248$278,688$1,693,362
78$2,264,759$482,520$209,069$1,771,035
79$2,414,322$424,721$134,630$1,855,193
80$2,576,575$361,525$55,132$1,946,517
81$2,752,731$292,585$0$2,045,763
82$2,944,126$217,538$0$2,157,571
83$3,152,228$135,998$0$2,286,841
84$3,378,652$47,559$0$2,427,567
85$3,625,175$0$0$2,580,919
86$3,893,753$0$0$2,760,388
87$4,186,539$0$0$2,969,206
88$4,505,901$0$0$3,197,032
89$4,854,447$0$0$3,445,734
90$5,235,046$0$0$3,717,364
91$5,650,857$0$0$4,014,186
92$6,105,360$0$0$4,338,690
93$6,602,382$0$0$4,693,618
94$7,146,140$0$0$5,081,988
95$7,741,276$0$0$5,507,126
96$8,392,903$0$0$5,972,690
97$9,106,649$0$0$6,482,713
98$9,888,713$0$0$7,041,634
99$10,745,924$0$0$7,654,342
100$11,685,800$0$0$8,326,222