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%15.1%
1 years$69,944$69,321$68,714$68,120$67,541$66,123
2 years$34,626$33,981$33,356$32,750$32,162$30,741
3 years$22,855$22,207$21,584$20,983$20,405$19,024
4 years$16,970$16,325$15,707$15,117$14,553$13,223
5 years$13,440$12,799$12,190$11,612$11,063$9,788
6 years$11,088$10,451$9,851$9,286$8,754$7,535
7 years$9,408$8,777$8,186$7,634$7,119$5,957
8 years$8,149$7,523$6,943$6,404$5,906$4,799
9 years$7,170$6,550$5,980$5,455$4,974$3,922
10 years$6,388$5,774$5,213$4,702$4,238$3,241
11 years$5,748$5,140$4,590$4,092$3,645$2,701
12 years$5,215$4,613$4,073$3,590$3,158$2,266
13 years$4,765$4,169$3,639$3,169$2,754$1,912
14 years$4,379$3,790$3,270$2,813$2,414$1,620
15 years$4,045$3,462$2,952$2,509$2,126$1,378
16 years$3,753$3,176$2,677$2,246$1,879$1,176
17 years$3,495$2,925$2,436$2,018$1,666$1,006
18 years$3,267$2,703$2,223$1,819$1,481$863
19 years$3,062$2,505$2,035$1,644$1,320$741
20 years$2,879$2,328$1,868$1,489$1,179$638
21 years$2,713$2,168$1,718$1,351$1,055$550
22 years$2,562$2,024$1,584$1,228$946$474
23 years$2,425$1,893$1,462$1,119$849$409
24 years$2,299$1,774$1,352$1,020$763$354
25 years$2,184$1,665$1,252$932$687$306
26 years$2,077$1,564$1,162$852$619$265
27 years$1,979$1,472$1,079$780$558$229
28 years$1,888$1,387$1,003$715$503$199
29 years$1,803$1,309$933$655$454$172
30 years$1,724$1,236$869$601$411$149
31 years$1,650$1,168$810$552$371$129
32 years$1,581$1,106$756$508$336$112
33 years$1,517$1,047$706$467$304$97
34 years$1,456$992$660$429$275$84
35 years$1,399$941$617$395$249$73
36 years$1,345$893$577$364$226$64
37 years$1,294$848$540$335$205$55
38 years$1,246$806$506$309$186$48
39 years$1,201$767$474$285$168$42
40 years$1,158$730$444$263$153$36
41 years$1,117$694$416$243$138$31
42 years$1,078$661$391$224$126$27
43 years$1,041$630$366$207$114$24
44 years$1,006$601$344$191$103$21
45 years$973$573$323$176$94$18
46 years$941$546$303$163$85$16
47 years$911$521$285$150$77$13
48 years$881$498$268$139$70$12
49 years$854$475$252$128$64$10
50 years$827$454$237$119$58$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $847,000, adding $6,168 every year, while hoping to spend $27,452 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: 75/9/16 Blend
61$847,000$847,000$847,000$847,000
62$939,756$894,865$881,737$1,006,448
63$1,006,403$909,505$882,066$1,066,037
64$1,078,927$923,942$881,487$1,127,324
65$1,157,900$938,137$879,939$1,193,761
66$1,243,949$952,049$877,360$1,265,852
67$1,337,765$965,633$873,685$1,344,153
68$1,440,109$978,841$868,845$1,429,277
69$1,551,817$991,621$862,769$1,521,899
70$1,673,812$1,003,920$855,381$1,622,762
71$1,807,106$1,015,678$846,602$1,732,687
72$1,952,818$1,026,833$836,350$1,852,578
73$2,112,176$1,037,318$824,538$1,983,429
74$2,286,534$1,047,063$811,076$2,126,337
75$2,477,382$1,055,991$795,869$2,282,513
76$2,686,362$1,064,021$778,817$2,453,289
77$2,915,281$1,071,068$759,817$2,640,132
78$3,166,129$1,077,040$738,761$2,844,663
79$3,441,098$1,081,839$715,534$3,068,664
80$3,742,604$1,085,363$690,017$3,314,101
81$4,073,304$1,087,500$662,087$3,583,143
82$4,436,127$1,088,134$631,614$3,878,176
83$4,834,300$1,087,140$598,460$4,201,833
84$5,271,375$1,084,387$562,486$4,557,014
85$5,751,268$1,079,734$523,541$4,946,919
86$6,278,289$1,073,033$481,472$5,375,070
87$6,857,189$1,064,126$436,116$5,845,351
88$7,493,200$1,052,846$387,303$6,362,045
89$8,192,086$1,039,015$334,857$6,929,868
90$8,960,198$1,022,445$278,594$7,554,022
91$9,804,531$1,002,939$218,320$8,240,239
92$10,732,794$980,283$153,835$8,994,835
93$11,753,478$954,256$84,927$9,824,774
94$12,875,939$924,621$11,378$10,737,729
95$14,110,484$891,127$0$11,742,159
96$15,468,471$853,510$0$12,858,843
97$16,962,412$811,489$0$14,089,415
98$18,606,095$764,768$0$15,443,299
99$20,414,708$713,033$0$16,933,018
100$22,404,990$655,954$0$18,572,375