Can I retire at age 62 with 858,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $858,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.4%
1 years$70,853$70,222$69,606$69,005$68,418$66,900
2 years$35,076$34,422$33,789$33,175$32,580$31,059
3 years$23,151$22,495$21,864$21,256$20,670$19,193
4 years$17,191$16,537$15,911$15,314$14,742$13,320
5 years$13,615$12,965$12,348$11,762$11,207$9,844
6 years$11,232$10,587$9,979$9,406$8,867$7,566
7 years$9,531$8,891$8,293$7,734$7,212$5,971
8 years$8,255$7,621$7,033$6,487$5,983$4,803
9 years$7,264$6,635$6,057$5,526$5,038$3,918
10 years$6,471$5,849$5,281$4,763$4,293$3,231
11 years$5,823$5,207$4,649$4,146$3,692$2,688
12 years$5,283$4,673$4,126$3,636$3,199$2,251
13 years$4,826$4,223$3,686$3,210$2,790$1,895
14 years$4,436$3,839$3,312$2,850$2,446$1,603
15 years$4,097$3,507$2,990$2,541$2,153$1,361
16 years$3,801$3,218$2,711$2,276$1,903$1,159
17 years$3,541$2,963$2,467$2,045$1,687$989
18 years$3,309$2,738$2,252$1,843$1,500$846
19 years$3,102$2,538$2,062$1,665$1,337$725
20 years$2,916$2,358$1,892$1,508$1,195$623
21 years$2,748$2,197$1,740$1,369$1,069$535
22 years$2,595$2,050$1,604$1,244$958$461
23 years$2,456$1,918$1,481$1,133$860$397
24 years$2,329$1,797$1,370$1,034$773$342
25 years$2,212$1,686$1,269$944$696$295
26 years$2,104$1,585$1,177$863$627$255
27 years$2,005$1,491$1,093$790$565$220
28 years$1,912$1,405$1,016$724$510$190
29 years$1,826$1,326$945$664$460$164
30 years$1,747$1,252$880$609$416$142
31 years$1,672$1,184$821$559$376$123
32 years$1,602$1,120$766$514$340$106
33 years$1,537$1,061$715$473$308$92
34 years$1,475$1,005$668$435$279$80
35 years$1,417$953$625$400$252$69
36 years$1,363$905$584$369$229$60
37 years$1,311$859$547$340$207$52
38 years$1,263$817$512$313$188$45
39 years$1,217$777$480$289$170$39
40 years$1,173$739$450$266$155$34
41 years$1,132$703$422$246$140$29
42 years$1,092$670$396$227$127$25
43 years$1,055$638$371$209$115$22
44 years$1,019$608$348$193$105$19
45 years$986$580$327$179$95$16
46 years$953$553$307$165$86$14
47 years$922$528$289$152$78$12
48 years$893$504$271$141$71$11
49 years$865$482$255$130$65$9
50 years$838$460$240$120$59$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $858,000, adding $5,471 every year, while hoping to spend $26,298 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: 53/29/18 Blend
61$858,000$858,000$858,000$858,000
62$951,159$905,685$892,386$996,644
63$1,020,197$922,083$894,300$1,044,809
64$1,095,395$938,403$895,397$1,093,963
65$1,177,353$954,613$895,622$1,146,872
66$1,266,734$970,680$894,916$1,203,902
67$1,364,264$986,567$893,219$1,265,455
68$1,470,745$1,002,234$890,467$1,331,974
69$1,587,057$1,017,640$886,594$1,403,950
70$1,714,172$1,032,739$881,530$1,481,923
71$1,853,157$1,047,483$875,201$1,566,488
72$2,005,189$1,061,820$867,530$1,658,302
73$2,171,563$1,075,694$858,437$1,758,090
74$2,353,706$1,089,045$847,838$1,866,651
75$2,553,187$1,101,812$835,643$1,984,868
76$2,771,736$1,113,925$821,762$2,113,711
77$3,011,259$1,125,313$806,096$2,254,255
78$3,273,852$1,135,898$788,545$2,407,681
79$3,561,826$1,145,598$769,002$2,575,295
80$3,877,726$1,154,326$747,358$2,758,535
81$4,224,354$1,161,988$723,494$2,958,989
82$4,604,798$1,168,485$697,291$3,178,408
83$5,022,458$1,173,712$668,621$3,418,721
84$5,481,081$1,177,556$637,352$3,682,058
85$5,984,792$1,179,897$603,345$3,970,768
86$6,538,139$1,180,610$566,455$4,287,439
87$7,146,128$1,179,559$526,530$4,634,928
88$7,814,277$1,176,601$483,412$5,016,384
89$8,548,663$1,171,584$436,936$5,435,279
90$9,355,982$1,164,347$386,929$5,895,445
91$10,243,612$1,154,720$333,211$6,401,103
92$11,219,679$1,142,520$275,592$6,956,911
93$12,293,138$1,127,556$213,877$7,568,003
94$13,473,856$1,109,623$147,859$8,240,043
95$14,772,702$1,088,507$77,325$8,979,272
96$16,201,652$1,063,978$2,050$9,792,576
97$17,773,902$1,035,795$0$10,687,544
98$19,503,991$1,003,700$0$11,687,580
99$21,407,940$967,424$0$12,788,273
100$23,503,400$926,677$0$13,999,451