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%14.7%
1 years$70,688$70,058$69,444$68,844$68,259$66,935
2 years$34,994$34,342$33,711$33,098$32,504$31,176
3 years$23,098$22,443$21,813$21,206$20,622$19,331
4 years$17,151$16,498$15,874$15,278$14,708$13,463
5 years$13,583$12,935$12,319$11,735$11,181$9,987
6 years$11,206$10,562$9,956$9,385$8,847$7,705
7 years$9,508$8,870$8,273$7,716$7,195$6,105
8 years$8,236$7,603$7,016$6,472$5,969$4,930
9 years$7,247$6,620$6,043$5,513$5,027$4,039
10 years$6,456$5,835$5,269$4,752$4,283$3,345
11 years$5,809$5,195$4,638$4,136$3,683$2,795
12 years$5,270$4,663$4,116$3,628$3,192$2,351
13 years$4,815$4,214$3,678$3,203$2,783$1,989
14 years$4,425$3,830$3,304$2,843$2,440$1,690
15 years$4,088$3,499$2,983$2,535$2,148$1,442
16 years$3,792$3,210$2,705$2,270$1,899$1,234
17 years$3,532$2,956$2,461$2,040$1,684$1,059
18 years$3,301$2,732$2,247$1,838$1,497$910
19 years$3,095$2,532$2,057$1,661$1,334$784
20 years$2,909$2,353$1,888$1,504$1,192$677
21 years$2,742$2,191$1,736$1,365$1,066$585
22 years$2,589$2,046$1,600$1,241$956$506
23 years$2,451$1,913$1,478$1,131$858$438
24 years$2,324$1,793$1,367$1,031$771$380
25 years$2,207$1,682$1,266$942$694$330
26 years$2,099$1,581$1,174$861$625$286
27 years$2,000$1,488$1,090$788$564$249
28 years$1,908$1,402$1,013$722$509$216
29 years$1,822$1,323$943$662$459$188
30 years$1,742$1,249$878$608$415$163
31 years$1,668$1,181$819$558$375$142
32 years$1,598$1,117$764$513$339$124
33 years$1,533$1,058$713$472$307$108
34 years$1,472$1,003$667$434$278$94
35 years$1,414$951$623$400$252$82
36 years$1,360$903$583$368$228$71
37 years$1,308$857$546$339$207$62
38 years$1,260$815$511$312$188$54
39 years$1,214$775$479$288$170$47
40 years$1,170$737$449$266$154$41
41 years$1,129$702$421$245$140$36
42 years$1,090$668$395$226$127$31
43 years$1,053$637$370$209$115$27
44 years$1,017$607$348$193$105$24
45 years$983$579$326$178$95$21
46 years$951$552$307$165$86$18
47 years$920$527$288$152$78$16
48 years$891$503$271$140$71$14
49 years$863$480$254$130$65$12
50 years$836$459$239$120$59$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $856,000, adding $2,608 every year, while hoping to spend $22,970 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: 25/48/27 Blend
61$856,000$856,000$856,000$856,000
62$946,002$900,634$887,366$961,570
63$1,018,054$920,325$892,653$994,386
64$1,096,686$940,212$897,347$1,027,416
65$1,182,544$960,278$901,404$1,062,352
66$1,276,341$980,509$904,778$1,099,369
67$1,378,860$1,000,886$907,421$1,138,660
68$1,490,964$1,021,390$909,280$1,180,438
69$1,613,604$1,041,999$910,302$1,224,940
70$1,747,826$1,062,691$910,432$1,272,427
71$1,894,782$1,083,441$909,609$1,323,187
72$2,055,741$1,104,221$907,772$1,377,539
73$2,232,099$1,125,001$904,855$1,435,834
74$2,425,397$1,145,749$900,792$1,498,462
75$2,637,328$1,166,432$895,509$1,565,852
76$2,869,760$1,187,011$888,932$1,638,478
77$3,124,747$1,207,446$880,983$1,716,865
78$3,404,554$1,227,694$871,579$1,801,592
79$3,711,676$1,247,708$860,634$1,893,299
80$4,048,859$1,267,439$848,058$1,992,692
81$4,419,131$1,286,831$833,756$2,100,552
82$4,825,826$1,305,829$817,630$2,217,740
83$5,272,615$1,324,370$799,576$2,345,209
84$5,763,546$1,342,388$779,486$2,484,009
85$6,303,074$1,359,812$757,245$2,635,303
86$6,896,112$1,376,567$732,737$2,800,370
87$7,548,068$1,392,571$705,837$2,980,628
88$8,264,903$1,407,740$676,415$3,177,637
89$9,053,184$1,421,980$644,335$3,393,124
90$9,920,145$1,435,193$609,457$3,628,993
91$10,873,758$1,447,275$571,631$3,887,345
92$11,922,805$1,458,115$530,704$4,170,501
93$13,076,961$1,467,593$486,513$4,481,023
94$14,346,890$1,475,584$438,890$4,821,736
95$15,744,338$1,481,953$387,658$5,195,761
96$17,282,249$1,486,557$332,633$5,606,539
97$18,974,884$1,489,244$273,622$6,057,871
98$20,837,958$1,489,853$210,424$6,553,948
99$22,888,786$1,488,212$142,830$7,099,395
100$25,146,448$1,484,140$70,620$7,699,317