Can I retire at age 62 with 848,000?

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 $848,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.7%
1 years$70,027$69,403$68,795$68,201$67,621$67,138
2 years$34,667$34,021$33,395$32,789$32,200$31,714
3 years$22,882$22,233$21,609$21,008$20,429$19,954
4 years$16,990$16,344$15,726$15,135$14,570$14,110
5 years$13,456$12,814$12,204$11,625$11,076$10,631
6 years$11,101$10,463$9,863$9,297$8,764$8,336
7 years$9,419$8,787$8,196$7,643$7,128$6,716
8 years$8,159$7,532$6,951$6,412$5,913$5,519
9 years$7,179$6,558$5,987$5,461$4,980$4,602
10 years$6,395$5,781$5,219$4,708$4,243$3,882
11 years$5,755$5,146$4,595$4,097$3,649$3,304
12 years$5,221$4,619$4,078$3,594$3,162$2,833
13 years$4,770$4,174$3,643$3,173$2,757$2,444
14 years$4,384$3,794$3,274$2,816$2,417$2,119
15 years$4,049$3,466$2,956$2,512$2,128$1,845
16 years$3,757$3,180$2,680$2,249$1,881$1,612
17 years$3,499$2,929$2,438$2,021$1,668$1,413
18 years$3,270$2,706$2,226$1,821$1,483$1,241
19 years$3,066$2,508$2,038$1,646$1,322$1,093
20 years$2,882$2,331$1,870$1,490$1,181$965
21 years$2,716$2,171$1,720$1,353$1,057$853
22 years$2,565$2,026$1,585$1,230$947$755
23 years$2,428$1,895$1,464$1,120$850$669
24 years$2,302$1,776$1,354$1,022$764$594
25 years$2,186$1,667$1,254$933$688$527
26 years$2,080$1,566$1,163$853$619$469
27 years$1,981$1,474$1,080$781$558$417
28 years$1,890$1,389$1,004$715$504$371
29 years$1,805$1,310$934$656$455$331
30 years$1,726$1,237$870$602$411$295
31 years$1,652$1,170$811$553$372$263
32 years$1,583$1,107$757$508$336$235
33 years$1,519$1,048$707$467$304$209
34 years$1,458$993$660$430$275$187
35 years$1,401$942$617$396$250$167
36 years$1,347$894$578$365$226$149
37 years$1,296$849$541$336$205$133
38 years$1,248$807$506$310$186$119
39 years$1,202$768$474$285$168$106
40 years$1,159$730$445$263$153$95
41 years$1,118$695$417$243$139$85
42 years$1,080$662$391$224$126$76
43 years$1,043$631$367$207$114$68
44 years$1,008$601$344$191$104$61
45 years$974$573$323$176$94$54
46 years$942$547$304$163$85$49
47 years$912$522$285$151$78$44
48 years$882$498$268$139$70$39
49 years$855$476$252$129$64$35
50 years$828$455$237$119$58$31

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $848,000, adding $3,151 every year, while hoping to spend $57,545 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: 52/32/16 Blend
61$848,000$848,000$848,000$848,000
62$937,746$892,802$879,658$982,281
63$972,169$875,322$847,899$995,664
64$1,008,174$855,057$813,148$1,003,890
65$1,045,862$831,809$775,243$1,011,563
66$1,085,343$805,370$734,016$1,018,646
67$1,126,733$775,519$689,291$1,025,105
68$1,170,162$742,022$640,885$1,030,905
69$1,215,769$704,631$588,604$1,036,010
70$1,263,704$663,085$532,250$1,040,386
71$1,314,133$617,107$471,611$1,044,000
72$1,367,233$566,404$406,468$1,046,820
73$1,423,200$510,667$336,594$1,048,816
74$1,482,246$449,569$261,750$1,049,960
75$1,544,602$382,764$181,685$1,050,229
76$1,610,519$309,888$96,139$1,049,601
77$1,680,274$230,554$4,842$1,048,059
78$1,754,167$144,356$0$1,045,593
79$1,832,525$50,862$0$1,058,004
80$1,915,708$0$0$1,071,397
81$2,004,108$0$0$1,102,749
82$2,098,155$0$0$1,155,202
83$2,198,317$0$0$1,211,115
84$2,305,110$0$0$1,270,780
85$2,419,096$0$0$1,334,519
86$2,540,893$0$0$1,402,685
87$2,671,178$0$0$1,475,662
88$2,810,692$0$0$1,553,876
89$2,960,248$0$0$1,637,790
90$3,120,739$0$0$1,727,913
91$3,293,145$0$0$1,824,806
92$3,478,540$0$0$1,929,082
93$3,678,104$0$0$2,041,416
94$3,893,133$0$0$2,162,549
95$4,125,051$0$0$2,293,293
96$4,375,422$0$0$2,434,544
97$4,645,963$0$0$2,587,283
98$4,938,563$0$0$2,752,591
99$5,255,298$0$0$2,931,655
100$5,598,449$0$0$3,125,779