Can I retire at age 62 with 854,000?

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 $854,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$70,523$69,894$69,281$68,683$68,099$67,444
2 years$34,912$34,262$33,632$33,021$32,428$31,768
3 years$23,044$22,391$21,762$21,157$20,574$19,930
4 years$17,110$16,459$15,837$15,242$14,673$14,050
5 years$13,551$12,904$12,290$11,708$11,154$10,553
6 years$11,180$10,537$9,932$9,363$8,826$8,248
7 years$9,486$8,849$8,254$7,697$7,178$6,623
8 years$8,217$7,585$7,000$6,457$5,955$5,424
9 years$7,230$6,605$6,029$5,500$5,015$4,507
10 years$6,441$5,822$5,256$4,741$4,273$3,788
11 years$5,795$5,183$4,628$4,126$3,675$3,212
12 years$5,258$4,652$4,107$3,619$3,185$2,744
13 years$4,804$4,204$3,669$3,195$2,777$2,358
14 years$4,415$3,821$3,297$2,836$2,434$2,036
15 years$4,078$3,491$2,977$2,530$2,143$1,766
16 years$3,784$3,203$2,699$2,265$1,894$1,537
17 years$3,524$2,949$2,456$2,035$1,680$1,341
18 years$3,294$2,725$2,242$1,834$1,493$1,173
19 years$3,088$2,526$2,052$1,657$1,331$1,029
20 years$2,902$2,347$1,883$1,501$1,189$904
21 years$2,735$2,186$1,732$1,362$1,064$796
22 years$2,583$2,041$1,597$1,239$954$701
23 years$2,445$1,909$1,474$1,128$856$619
24 years$2,318$1,788$1,363$1,029$770$546
25 years$2,202$1,678$1,263$940$692$483
26 years$2,094$1,577$1,171$859$624$427
27 years$1,995$1,484$1,088$786$562$378
28 years$1,903$1,399$1,011$720$507$335
29 years$1,818$1,320$941$661$458$297
30 years$1,738$1,246$876$606$414$264
31 years$1,664$1,178$817$557$374$234
32 years$1,595$1,115$762$512$339$208
33 years$1,529$1,056$712$471$306$184
34 years$1,468$1,001$665$433$277$164
35 years$1,411$949$622$399$251$146
36 years$1,356$901$582$367$228$129
37 years$1,305$855$544$338$206$115
38 years$1,257$813$510$312$187$102
39 years$1,211$773$478$287$170$91
40 years$1,168$736$448$265$154$81
41 years$1,126$700$420$245$140$72
42 years$1,087$667$394$226$127$64
43 years$1,050$635$369$208$115$57
44 years$1,015$606$347$192$104$51
45 years$981$577$326$178$95$45
46 years$949$551$306$164$86$40
47 years$918$526$287$152$78$36
48 years$889$502$270$140$71$32
49 years$861$479$254$130$64$28
50 years$834$458$239$120$59$25

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $854,000, adding $6,795 every year, while hoping to spend $46,633 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: 65/10/25 Blend
61$854,000$854,000$854,000$854,000
62$948,117$902,855$889,618$1,003,143
63$995,208$897,478$869,803$1,035,696
64$1,045,539$890,274$847,761$1,065,422
65$1,099,392$881,105$823,369$1,096,861
66$1,157,074$869,824$796,497$1,130,185
67$1,218,925$856,275$767,009$1,165,585
68$1,285,316$840,293$734,764$1,203,274
69$1,356,653$821,702$699,613$1,243,485
70$1,433,384$800,318$661,403$1,286,482
71$1,516,000$775,944$619,970$1,332,552
72$1,605,039$748,372$575,147$1,382,017
73$1,701,094$717,384$526,755$1,435,232
74$1,804,816$682,746$474,611$1,492,591
75$1,916,919$644,212$418,523$1,554,531
76$2,038,188$601,522$358,287$1,621,535
77$2,169,488$554,401$293,694$1,694,140
78$2,311,768$502,559$224,525$1,772,937
79$2,466,072$445,688$150,550$1,858,584
80$2,633,548$383,463$71,530$1,951,806
81$2,815,458$315,541$0$2,053,409
82$3,013,191$241,559$0$2,167,696
83$3,228,276$161,135$0$2,312,821
84$3,462,393$73,864$0$2,470,845
85$3,717,393$0$0$2,643,047
86$3,995,310$0$0$2,833,114
87$4,298,385$0$0$3,049,302
88$4,629,084$0$0$3,285,248
89$4,990,121$0$0$3,542,896
90$5,384,482$0$0$3,824,384
91$5,815,458$0$0$4,132,067
92$6,286,668$0$0$4,468,539
93$6,802,100$0$0$4,836,653
94$7,366,143$0$0$5,239,553
95$7,983,631$0$0$5,680,699
96$8,659,886$0$0$6,163,904
97$9,400,770$0$0$6,693,365
98$10,212,737$0$0$7,273,705
99$11,102,897$0$0$7,910,014
100$12,079,080$0$0$8,607,899