Can I retire at age 62 with 856,000?

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 $856,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.8%
1 years$70,688$70,058$69,444$68,844$68,259$65,837
2 years$34,994$34,342$33,711$33,098$32,504$30,090
3 years$23,098$22,443$21,813$21,206$20,622$18,291
4 years$17,151$16,498$15,874$15,278$14,708$12,478
5 years$13,583$12,935$12,319$11,735$11,181$9,059
6 years$11,206$10,562$9,956$9,385$8,847$6,834
7 years$9,508$8,870$8,273$7,716$7,195$5,290
8 years$8,236$7,603$7,016$6,472$5,969$4,171
9 years$7,247$6,620$6,043$5,513$5,027$3,333
10 years$6,456$5,835$5,269$4,752$4,283$2,691
11 years$5,809$5,195$4,638$4,136$3,683$2,190
12 years$5,270$4,663$4,116$3,628$3,192$1,793
13 years$4,815$4,214$3,678$3,203$2,783$1,475
14 years$4,425$3,830$3,304$2,843$2,440$1,219
15 years$4,088$3,499$2,983$2,535$2,148$1,010
16 years$3,792$3,210$2,705$2,270$1,899$840
17 years$3,532$2,956$2,461$2,040$1,684$699
18 years$3,301$2,732$2,247$1,838$1,497$583
19 years$3,095$2,532$2,057$1,661$1,334$487
20 years$2,909$2,353$1,888$1,504$1,192$408
21 years$2,742$2,191$1,736$1,365$1,066$341
22 years$2,589$2,046$1,600$1,241$956$286
23 years$2,451$1,913$1,478$1,131$858$240
24 years$2,324$1,793$1,367$1,031$771$201
25 years$2,207$1,682$1,266$942$694$169
26 years$2,099$1,581$1,174$861$625$142
27 years$2,000$1,488$1,090$788$564$119
28 years$1,908$1,402$1,013$722$509$100
29 years$1,822$1,323$943$662$459$84
30 years$1,742$1,249$878$608$415$71
31 years$1,668$1,181$819$558$375$60
32 years$1,598$1,117$764$513$339$50
33 years$1,533$1,058$713$472$307$42
34 years$1,472$1,003$667$434$278$35
35 years$1,414$951$623$400$252$30
36 years$1,360$903$583$368$228$25
37 years$1,308$857$546$339$207$21
38 years$1,260$815$511$312$188$18
39 years$1,214$775$479$288$170$15
40 years$1,170$737$449$266$154$13
41 years$1,129$702$421$245$140$11
42 years$1,090$668$395$226$127$9
43 years$1,053$637$370$209$115$8
44 years$1,017$607$348$193$105$6
45 years$983$579$326$178$95$5
46 years$951$552$307$165$86$4
47 years$920$527$288$152$78$4
48 years$891$503$271$140$71$3
49 years$863$480$254$130$65$3
50 years$836$459$239$120$59$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $856,000, adding $4,091 every year, while hoping to spend $55,223 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: 86/6/8 Blend
61$856,000$856,000$856,000$856,000
62$947,532$902,164$888,896$1,027,877
63$985,423$887,613$859,917$1,066,354
64$1,025,329$870,498$828,117$1,100,640
65$1,067,395$850,636$793,342$1,136,560
66$1,111,784$827,831$755,432$1,174,242
67$1,158,668$801,877$714,222$1,213,824
68$1,208,240$772,557$669,536$1,255,459
69$1,260,706$739,638$621,191$1,299,315
70$1,316,295$702,877$568,998$1,345,577
71$1,375,254$662,015$512,756$1,394,446
72$1,437,855$616,778$452,258$1,446,146
73$1,504,394$566,879$387,287$1,500,923
74$1,575,196$512,010$317,616$1,559,046
75$1,650,618$451,850$243,007$1,620,812
76$1,731,046$386,056$163,213$1,686,548
77$1,816,909$314,268$77,977$1,756,614
78$1,908,672$236,106$0$1,831,407
79$2,006,848$151,167$0$1,912,473
80$2,111,998$59,025$0$2,006,359
81$2,224,737$0$0$2,106,956
82$2,345,741$0$0$2,217,568
83$2,475,751$0$0$2,340,607
84$2,615,581$0$0$2,472,946
85$2,766,123$0$0$2,615,433
86$2,928,359$0$0$2,768,995
87$3,103,366$0$0$2,934,655
88$3,292,327$0$0$3,113,534
89$3,496,544$0$0$3,306,864
90$3,717,445$0$0$3,516,000
91$3,956,602$0$0$3,742,430
92$4,215,742$0$0$3,987,792
93$4,496,766$0$0$4,253,886
94$4,801,760$0$0$4,542,690
95$5,133,023$0$0$4,856,382
96$5,493,082$0$0$5,197,356
97$5,884,716$0$0$5,568,246
98$6,310,985$0$0$5,971,951
99$6,775,252$0$0$6,411,660
100$7,281,222$0$0$6,890,882