Can I retire at age 62 with 845,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%17.4%
1 years$69,779$69,158$68,551$67,959$67,381$65,355
2 years$34,544$33,901$33,277$32,673$32,086$30,062
3 years$22,801$22,155$21,533$20,934$20,357$18,398
4 years$16,930$16,286$15,670$15,082$14,519$12,640
5 years$13,409$12,768$12,161$11,584$11,037$9,244
6 years$11,062$10,426$9,828$9,264$8,733$7,027
7 years$9,386$8,756$8,167$7,616$7,102$5,484
8 years$8,130$7,506$6,926$6,389$5,892$4,359
9 years$7,153$6,535$5,965$5,442$4,962$3,514
10 years$6,373$5,760$5,201$4,691$4,228$2,862
11 years$5,734$5,128$4,579$4,083$3,636$2,350
12 years$5,203$4,603$4,064$3,581$3,151$1,942
13 years$4,753$4,159$3,630$3,162$2,748$1,613
14 years$4,368$3,781$3,262$2,807$2,409$1,346
15 years$4,035$3,454$2,945$2,503$2,121$1,127
16 years$3,744$3,169$2,670$2,241$1,874$946
17 years$3,487$2,918$2,430$2,014$1,662$796
18 years$3,259$2,697$2,218$1,815$1,478$671
19 years$3,055$2,499$2,031$1,640$1,317$567
20 years$2,872$2,322$1,864$1,485$1,176$479
21 years$2,706$2,163$1,714$1,348$1,053$406
22 years$2,556$2,019$1,580$1,225$944$344
23 years$2,419$1,889$1,459$1,116$847$291
24 years$2,294$1,770$1,349$1,018$761$247
25 years$2,179$1,661$1,249$930$685$210
26 years$2,072$1,561$1,159$850$617$178
27 years$1,974$1,469$1,076$778$556$152
28 years$1,883$1,384$1,000$713$502$129
29 years$1,799$1,306$931$654$453$110
30 years$1,720$1,233$867$600$410$93
31 years$1,647$1,166$808$551$370$79
32 years$1,578$1,103$754$506$335$67
33 years$1,513$1,045$704$466$303$57
34 years$1,453$990$658$428$274$49
35 years$1,396$939$615$394$249$42
36 years$1,342$891$575$363$225$35
37 years$1,291$846$539$335$204$30
38 years$1,244$804$504$308$185$26
39 years$1,198$765$473$284$168$22
40 years$1,155$728$443$262$152$19
41 years$1,115$693$415$242$138$16
42 years$1,076$660$390$223$125$13
43 years$1,039$629$366$206$114$11
44 years$1,004$599$343$190$103$10
45 years$971$571$322$176$94$8
46 years$939$545$303$162$85$7
47 years$908$520$284$150$77$6
48 years$879$497$267$139$70$5
49 years$852$474$251$128$64$4
50 years$825$453$236$118$58$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $845,000, adding $5,015 every year, while hoping to spend $46,725 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: 81/6/13 Blend
61$845,000$845,000$845,000$845,000
62$936,363$891,578$878,480$1,009,495
63$982,157$885,550$858,195$1,052,202
64$1,031,056$877,661$835,663$1,092,468
65$1,083,327$867,770$810,761$1,135,303
66$1,139,264$855,728$783,359$1,180,944
67$1,199,187$841,378$753,320$1,229,648
68$1,263,450$824,551$720,502$1,281,701
69$1,332,439$805,071$684,756$1,337,418
70$1,406,579$782,750$645,926$1,397,144
71$1,486,335$757,390$603,850$1,461,262
72$1,572,219$728,780$558,357$1,530,191
73$1,664,793$696,698$509,269$1,604,396
74$1,764,674$660,908$456,402$1,684,389
75$1,872,541$621,162$399,561$1,770,732
76$1,989,137$577,197$338,544$1,864,048
77$2,115,283$528,733$273,139$1,965,021
78$2,251,878$475,477$203,125$2,074,407
79$2,399,912$417,118$128,273$2,193,040
80$2,560,474$353,328$48,340$2,321,837
81$2,734,759$283,758$0$2,461,812
82$2,924,085$208,042$0$2,619,208
83$3,129,899$125,794$0$2,797,620
84$3,353,794$36,603$0$2,991,730
85$3,597,523$0$0$3,203,076
86$3,863,014$0$0$3,437,309
87$4,152,389$0$0$3,695,268
88$4,467,984$0$0$3,976,620
89$4,812,369$0$0$4,283,660
90$5,188,373$0$0$4,618,912
91$5,599,112$0$0$4,985,158
92$6,048,015$0$0$5,385,457
93$6,538,856$0$0$5,823,178
94$7,075,792$0$0$6,302,032
95$7,663,400$0$0$6,826,102
96$8,306,719$0$0$7,399,888
97$9,011,299$0$0$8,028,342
98$9,783,250$0$0$8,716,918
99$10,629,304$0$0$9,471,625
100$11,556,872$0$0$10,299,077