Can I retire at age 62 with 847,000?

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 $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%15.5%
1 years$69,944$69,321$68,714$68,120$67,541$66,015
2 years$34,626$33,981$33,356$32,750$32,162$30,634
3 years$22,855$22,207$21,584$20,983$20,405$18,921
4 years$16,970$16,325$15,707$15,117$14,553$13,125
5 years$13,440$12,799$12,190$11,612$11,063$9,695
6 years$11,088$10,451$9,851$9,286$8,754$7,447
7 years$9,408$8,777$8,186$7,634$7,119$5,874
8 years$8,149$7,523$6,943$6,404$5,906$4,722
9 years$7,170$6,550$5,980$5,455$4,974$3,850
10 years$6,388$5,774$5,213$4,702$4,238$3,173
11 years$5,748$5,140$4,590$4,092$3,645$2,637
12 years$5,215$4,613$4,073$3,590$3,158$2,207
13 years$4,765$4,169$3,639$3,169$2,754$1,857
14 years$4,379$3,790$3,270$2,813$2,414$1,570
15 years$4,045$3,462$2,952$2,509$2,126$1,332
16 years$3,753$3,176$2,677$2,246$1,879$1,133
17 years$3,495$2,925$2,436$2,018$1,666$967
18 years$3,267$2,703$2,223$1,819$1,481$826
19 years$3,062$2,505$2,035$1,644$1,320$708
20 years$2,879$2,328$1,868$1,489$1,179$607
21 years$2,713$2,168$1,718$1,351$1,055$522
22 years$2,562$2,024$1,584$1,228$946$449
23 years$2,425$1,893$1,462$1,119$849$386
24 years$2,299$1,774$1,352$1,020$763$333
25 years$2,184$1,665$1,252$932$687$287
26 years$2,077$1,564$1,162$852$619$247
27 years$1,979$1,472$1,079$780$558$213
28 years$1,888$1,387$1,003$715$503$184
29 years$1,803$1,309$933$655$454$159
30 years$1,724$1,236$869$601$411$138
31 years$1,650$1,168$810$552$371$119
32 years$1,581$1,106$756$508$336$103
33 years$1,517$1,047$706$467$304$89
34 years$1,456$992$660$429$275$77
35 years$1,399$941$617$395$249$66
36 years$1,345$893$577$364$226$57
37 years$1,294$848$540$335$205$50
38 years$1,246$806$506$309$186$43
39 years$1,201$767$474$285$168$37
40 years$1,158$730$444$263$153$32
41 years$1,117$694$416$243$138$28
42 years$1,078$661$391$224$126$24
43 years$1,041$630$366$207$114$21
44 years$1,006$601$344$191$103$18
45 years$973$573$323$176$94$16
46 years$941$546$303$163$85$14
47 years$911$521$285$150$77$12
48 years$881$498$268$139$70$10
49 years$854$475$252$128$64$9
50 years$827$454$237$119$58$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $847,000, adding $2,910 every year, while hoping to spend $33,412 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: 53/34/13 Blend
61$847,000$847,000$847,000$847,000
62$936,396$891,505$878,376$982,664
63$996,358$899,638$872,252$1,022,658
64$1,061,316$907,051$864,802$1,062,325
65$1,131,746$913,671$855,948$1,104,718
66$1,208,167$919,424$845,606$1,150,105
67$1,291,155$924,231$833,688$1,198,780
68$1,381,339$928,005$820,103$1,251,069
69$1,479,415$930,656$804,756$1,307,333
70$1,586,145$932,088$787,545$1,367,969
71$1,702,371$932,199$768,367$1,433,420
72$1,829,017$930,881$747,111$1,504,170
73$1,967,100$928,017$723,662$1,580,758
74$2,117,740$923,486$697,901$1,663,778
75$2,282,171$917,158$669,702$1,753,888
76$2,461,748$908,896$638,933$1,851,814
77$2,657,967$898,552$605,458$1,958,356
78$2,872,472$885,973$569,133$2,074,403
79$3,107,072$870,994$529,807$2,200,932
80$3,363,763$853,442$487,325$2,339,025
81$3,644,739$833,133$441,523$2,489,876
82$3,952,417$809,871$392,229$2,654,807
83$4,289,460$783,451$339,265$2,835,273
84$4,658,799$753,655$282,444$3,032,884
85$5,063,663$720,250$221,572$3,249,417
86$5,507,607$682,993$156,446$3,486,835
87$5,994,549$641,625$86,852$3,747,305
88$6,528,801$595,872$12,570$4,033,219
89$7,115,115$545,447$0$4,347,218
90$7,758,725$490,042$0$4,701,471
91$8,465,396$429,335$0$5,092,404
92$9,241,480$362,985$0$5,521,861
93$10,093,970$290,632$0$5,993,798
94$11,030,576$211,893$0$6,512,580
95$12,059,786$126,368$0$7,083,024
96$13,190,955$33,630$0$7,710,439
97$14,434,387$0$0$8,400,685
98$15,801,434$0$0$9,185,204
99$17,304,604$0$0$10,061,766
100$18,957,678$0$0$11,025,838