Can I retire at age 62 with 851,000?

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 $851,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$70,275$69,649$69,038$68,442$67,860$67,574
2 years$34,789$34,142$33,514$32,905$32,314$32,026
3 years$22,963$22,312$21,686$21,082$20,501$20,219
4 years$17,050$16,402$15,782$15,189$14,622$14,348
5 years$13,504$12,859$12,247$11,666$11,115$10,850
6 years$11,140$10,500$9,897$9,330$8,795$8,540
7 years$9,453$8,818$8,225$7,670$7,153$6,907
8 years$8,188$7,559$6,975$6,435$5,934$5,698
9 years$7,204$6,581$6,008$5,481$4,997$4,771
10 years$6,418$5,801$5,238$4,725$4,258$4,041
11 years$5,775$5,164$4,611$4,112$3,662$3,454
12 years$5,240$4,635$4,092$3,607$3,173$2,975
13 years$4,787$4,189$3,656$3,184$2,767$2,578
14 years$4,399$3,808$3,285$2,826$2,426$2,245
15 years$4,064$3,478$2,966$2,521$2,136$1,964
16 years$3,770$3,191$2,689$2,257$1,888$1,724
17 years$3,512$2,939$2,447$2,028$1,674$1,518
18 years$3,282$2,716$2,234$1,828$1,488$1,341
19 years$3,077$2,517$2,045$1,651$1,326$1,187
20 years$2,892$2,339$1,877$1,496$1,185$1,053
21 years$2,726$2,179$1,726$1,357$1,060$935
22 years$2,574$2,034$1,591$1,234$950$832
23 years$2,436$1,902$1,469$1,124$853$741
24 years$2,310$1,782$1,359$1,025$767$661
25 years$2,194$1,672$1,258$936$690$591
26 years$2,087$1,572$1,167$856$622$528
27 years$1,988$1,479$1,084$784$560$472
28 years$1,897$1,394$1,007$718$506$423
29 years$1,812$1,315$938$658$457$379
30 years$1,732$1,242$873$604$413$340
31 years$1,658$1,174$814$555$373$305
32 years$1,589$1,111$760$510$337$273
33 years$1,524$1,052$709$469$305$245
34 years$1,463$997$663$431$276$220
35 years$1,406$946$620$397$250$198
36 years$1,352$898$580$366$227$178
37 years$1,301$852$542$337$206$160
38 years$1,252$810$508$311$186$144
39 years$1,207$770$476$286$169$129
40 years$1,163$733$446$264$153$116
41 years$1,122$698$418$244$139$104
42 years$1,083$664$392$225$126$94
43 years$1,046$633$368$208$115$85
44 years$1,011$603$346$192$104$76
45 years$977$575$325$177$94$68
46 years$945$549$305$164$86$62
47 years$915$524$286$151$78$55
48 years$886$500$269$140$71$50
49 years$858$478$253$129$64$45
50 years$831$456$238$119$58$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $851,000, adding $6,504 every year, while hoping to spend $30,285 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: 68/16/16 Blend
61$851,000$851,000$851,000$851,000
62$944,511$899,408$886,217$1,004,726
63$1,008,628$911,256$883,683$1,057,557
64$1,078,270$922,669$880,048$1,111,142
65$1,153,969$933,595$875,245$1,168,993
66$1,236,308$943,976$869,200$1,231,528
67$1,325,933$953,752$861,839$1,299,204
68$1,423,550$962,858$853,083$1,372,530
69$1,529,938$971,225$842,848$1,452,063
70$1,645,956$978,779$831,047$1,538,419
71$1,772,547$985,442$817,590$1,632,278
72$1,910,748$991,130$802,382$1,734,388
73$2,061,705$995,756$785,321$1,845,575
74$2,226,675$999,224$766,306$1,966,749
75$2,407,044$1,001,434$745,225$2,098,914
76$2,604,338$1,002,280$721,966$2,243,175
77$2,820,237$1,001,648$696,409$2,400,755
78$3,056,591$999,419$668,428$2,572,997
79$3,315,437$995,464$637,894$2,761,386
80$3,599,018$989,648$604,669$2,967,558
81$3,909,804$981,827$568,612$3,193,316
82$4,250,517$971,849$529,574$3,440,648
83$4,624,152$959,553$487,397$3,711,749
84$5,034,012$944,767$441,921$4,009,035
85$5,483,729$927,309$392,974$4,335,172
86$5,977,310$906,987$340,379$4,693,100
87$6,519,165$883,599$283,951$5,086,059
88$7,114,152$856,928$223,495$5,517,622
89$7,767,624$826,746$158,811$5,991,727
90$8,485,477$792,811$89,686$6,512,719
91$9,274,206$754,869$15,901$7,085,385
92$10,140,966$712,649$0$7,715,004
93$11,093,640$665,864$0$8,418,124
94$12,140,914$614,214$0$9,194,027
95$13,292,355$557,378$0$10,047,112
96$14,558,505$495,019$0$10,985,220
97$15,950,977$426,780$0$12,016,996
98$17,482,567$352,283$0$13,151,964
99$19,167,375$271,131$0$14,400,622
100$21,020,933$182,902$0$15,774,539