Can I retire at age 62 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$69,944$69,321$68,714$68,120$67,541$65,748
2 years$34,626$33,981$33,356$32,750$32,162$30,369
3 years$22,855$22,207$21,584$20,983$20,405$18,667
4 years$16,970$16,325$15,707$15,117$14,553$12,883
5 years$13,440$12,799$12,190$11,612$11,063$9,466
6 years$11,088$10,451$9,851$9,286$8,754$7,232
7 years$9,408$8,777$8,186$7,634$7,119$5,672
8 years$8,149$7,523$6,943$6,404$5,906$4,533
9 years$7,170$6,550$5,980$5,455$4,974$3,674
10 years$6,388$5,774$5,213$4,702$4,238$3,009
11 years$5,748$5,140$4,590$4,092$3,645$2,485
12 years$5,215$4,613$4,073$3,590$3,158$2,066
13 years$4,765$4,169$3,639$3,169$2,754$1,727
14 years$4,379$3,790$3,270$2,813$2,414$1,450
15 years$4,045$3,462$2,952$2,509$2,126$1,221
16 years$3,753$3,176$2,677$2,246$1,879$1,032
17 years$3,495$2,925$2,436$2,018$1,666$874
18 years$3,267$2,703$2,223$1,819$1,481$742
19 years$3,062$2,505$2,035$1,644$1,320$631
20 years$2,879$2,328$1,868$1,489$1,179$537
21 years$2,713$2,168$1,718$1,351$1,055$458
22 years$2,562$2,024$1,584$1,228$946$390
23 years$2,425$1,893$1,462$1,119$849$333
24 years$2,299$1,774$1,352$1,020$763$285
25 years$2,184$1,665$1,252$932$687$244
26 years$2,077$1,564$1,162$852$619$209
27 years$1,979$1,472$1,079$780$558$179
28 years$1,888$1,387$1,003$715$503$153
29 years$1,803$1,309$933$655$454$131
30 years$1,724$1,236$869$601$411$112
31 years$1,650$1,168$810$552$371$96
32 years$1,581$1,106$756$508$336$82
33 years$1,517$1,047$706$467$304$71
34 years$1,456$992$660$429$275$61
35 years$1,399$941$617$395$249$52
36 years$1,345$893$577$364$226$45
37 years$1,294$848$540$335$205$38
38 years$1,246$806$506$309$186$33
39 years$1,201$767$474$285$168$28
40 years$1,158$730$444$263$153$24
41 years$1,117$694$416$243$138$21
42 years$1,078$661$391$224$126$18
43 years$1,041$630$366$207$114$15
44 years$1,006$601$344$191$103$13
45 years$973$573$323$176$94$11
46 years$941$546$303$163$85$10
47 years$911$521$285$150$77$8
48 years$881$498$268$139$70$7
49 years$854$475$252$128$64$6
50 years$827$454$237$119$58$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $847,000, adding $5,525 every year, while hoping to spend $38,695 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: 46/47/7 Blend
61$847,000$847,000$847,000$847,000
62$939,093$894,202$881,074$980,243
63$993,709$896,847$869,418$1,011,778
64$1,052,600$898,324$856,076$1,041,488
65$1,116,159$898,536$840,948$1,072,814
66$1,184,821$897,379$823,935$1,105,919
67$1,259,064$894,741$804,927$1,140,981
68$1,339,412$890,506$783,815$1,178,202
69$1,426,440$884,550$760,481$1,217,803
70$1,520,783$876,739$734,804$1,260,031
71$1,623,138$866,934$706,654$1,305,163
72$1,734,270$854,986$675,900$1,353,503
73$1,855,024$840,739$642,401$1,405,392
74$1,986,327$824,025$606,011$1,461,206
75$2,129,198$804,668$566,578$1,521,366
76$2,284,760$782,481$523,943$1,586,336
77$2,454,248$757,265$477,938$1,656,633
78$2,639,023$728,812$428,390$1,732,831
79$2,840,579$696,900$375,117$1,815,566
80$3,060,564$661,294$317,929$1,905,542
81$3,300,790$621,746$256,628$2,003,543
82$3,563,253$577,994$191,007$2,110,436
83$3,850,149$529,759$120,850$2,227,182
84$4,163,897$476,750$45,932$2,354,847
85$4,507,159$418,656$0$2,494,609
86$4,882,869$355,150$0$2,650,319
87$5,294,254$285,885$0$2,824,709
88$5,744,871$210,496$0$3,015,967
89$6,238,635$128,597$0$3,225,886
90$6,779,857$39,781$0$3,456,454
91$7,373,289$0$0$3,709,863
92$8,024,159$0$0$4,017,705
93$8,738,231$0$0$4,378,110
94$9,521,849$0$0$4,773,720
95$10,382,005$0$0$5,208,078
96$11,326,397$0$0$5,685,084
97$12,363,509$0$0$6,209,037
98$13,502,683$0$0$6,784,672
99$14,754,214$0$0$7,417,204
100$16,129,439$0$0$8,112,380