Can I retire at age 62 with 849,000?

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 $849,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13%
1 years$70,110$69,485$68,876$68,281$67,700$66,854
2 years$34,708$34,061$33,435$32,827$32,238$31,387
3 years$22,909$22,259$21,635$21,033$20,453$19,623
4 years$17,010$16,363$15,744$15,153$14,587$13,785
5 years$13,472$12,829$12,218$11,639$11,089$10,317
6 years$11,114$10,476$9,874$9,308$8,774$8,033
7 years$9,431$8,797$8,206$7,652$7,136$6,425
8 years$8,168$7,541$6,959$6,419$5,920$5,241
9 years$7,187$6,566$5,994$5,468$4,985$4,337
10 years$6,403$5,787$5,225$4,713$4,248$3,629
11 years$5,761$5,152$4,600$4,102$3,653$3,065
12 years$5,227$4,624$4,083$3,598$3,166$2,606
13 years$4,776$4,179$3,648$3,177$2,761$2,230
14 years$4,389$3,799$3,277$2,820$2,420$1,917
15 years$4,054$3,470$2,959$2,515$2,131$1,654
16 years$3,761$3,184$2,683$2,252$1,883$1,432
17 years$3,503$2,932$2,441$2,023$1,670$1,244
18 years$3,274$2,709$2,229$1,823$1,485$1,083
19 years$3,070$2,511$2,040$1,647$1,323$945
20 years$2,885$2,333$1,872$1,492$1,182$826
21 years$2,719$2,174$1,722$1,354$1,058$723
22 years$2,568$2,029$1,587$1,231$948$634
23 years$2,431$1,898$1,466$1,121$851$556
24 years$2,305$1,778$1,355$1,023$765$489
25 years$2,189$1,668$1,255$934$688$430
26 years$2,082$1,568$1,164$854$620$378
27 years$1,984$1,476$1,081$782$559$333
28 years$1,892$1,391$1,005$716$504$293
29 years$1,807$1,312$935$657$455$259
30 years$1,728$1,239$871$603$412$228
31 years$1,654$1,171$812$554$372$201
32 years$1,585$1,108$758$509$337$178
33 years$1,520$1,049$708$468$305$157
34 years$1,460$995$661$430$276$138
35 years$1,402$943$618$396$250$122
36 years$1,348$895$578$365$226$108
37 years$1,298$850$541$336$205$95
38 years$1,249$808$507$310$186$84
39 years$1,204$769$475$286$169$75
40 years$1,161$731$445$264$153$66
41 years$1,120$696$417$243$139$58
42 years$1,081$663$391$224$126$52
43 years$1,044$632$367$207$114$46
44 years$1,009$602$345$191$104$40
45 years$975$574$324$177$94$36
46 years$943$548$304$163$86$32
47 years$913$523$286$151$78$28
48 years$884$499$268$139$71$25
49 years$856$476$252$129$64$22
50 years$829$455$237$119$58$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $849,000, adding $3,038 every year, while hoping to spend $34,576 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: 31/42/27 Blend
61$849,000$849,000$849,000$849,000
62$938,732$893,735$880,575$959,979
63$997,694$900,739$873,286$983,619
64$1,061,511$906,928$864,594$1,005,792
65$1,130,642$912,225$854,415$1,028,975
66$1,205,592$916,548$842,662$1,053,280
67$1,286,915$919,811$829,243$1,078,833
68$1,375,221$921,922$814,063$1,105,775
69$1,471,181$922,784$797,022$1,134,264
70$1,575,532$922,291$778,013$1,164,477
71$1,689,088$920,335$756,928$1,196,612
72$1,812,742$916,798$733,652$1,230,892
73$1,947,476$911,556$708,064$1,267,564
74$2,094,373$904,476$680,038$1,306,904
75$2,254,623$895,420$649,444$1,349,221
76$2,429,537$884,238$616,143$1,394,860
77$2,620,559$870,775$579,992$1,444,203
78$2,829,275$854,862$540,842$1,497,679
79$3,057,436$836,325$498,534$1,555,764
80$3,306,965$814,976$452,906$1,618,986
81$3,579,983$790,617$403,786$1,687,936
82$3,878,824$763,040$350,996$1,763,269
83$4,206,057$732,022$294,347$1,845,713
84$4,564,514$697,330$233,647$1,936,078
85$4,957,310$658,715$168,690$2,035,263
86$5,387,879$615,915$99,264$2,144,265
87$5,860,001$568,654$25,148$2,264,191
88$6,377,840$516,637$0$2,396,272
89$6,945,983$459,554$0$2,557,411
90$7,569,480$397,080$0$2,742,320
91$8,253,897$328,866$0$2,945,494
92$9,005,362$254,549$0$3,168,865
93$9,830,629$173,742$0$3,414,570
94$10,737,134$86,036$0$3,684,969
95$11,733,073$0$0$3,982,672
96$12,827,470$0$0$4,314,718
97$14,030,271$0$0$4,723,496
98$15,352,432$0$0$5,172,982
99$16,806,021$0$0$5,667,298
100$18,404,338$0$0$6,210,985