Can I retire at age 62 with 858,000?

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 $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%13.4%
1 years$70,853$70,222$69,606$69,005$68,418$67,451
2 years$35,076$34,422$33,789$33,175$32,580$31,608
3 years$23,151$22,495$21,864$21,256$20,670$19,723
4 years$17,191$16,537$15,911$15,314$14,742$13,827
5 years$13,615$12,965$12,348$11,762$11,207$10,326
6 years$11,232$10,587$9,979$9,406$8,867$8,023
7 years$9,531$8,891$8,293$7,734$7,212$6,403
8 years$8,255$7,621$7,033$6,487$5,983$5,211
9 years$7,264$6,635$6,057$5,526$5,038$4,302
10 years$6,471$5,849$5,281$4,763$4,293$3,591
11 years$5,823$5,207$4,649$4,146$3,692$3,025
12 years$5,283$4,673$4,126$3,636$3,199$2,566
13 years$4,826$4,223$3,686$3,210$2,790$2,189
14 years$4,436$3,839$3,312$2,850$2,446$1,877
15 years$4,097$3,507$2,990$2,541$2,153$1,616
16 years$3,801$3,218$2,711$2,276$1,903$1,395
17 years$3,541$2,963$2,467$2,045$1,687$1,208
18 years$3,309$2,738$2,252$1,843$1,500$1,049
19 years$3,102$2,538$2,062$1,665$1,337$912
20 years$2,916$2,358$1,892$1,508$1,195$795
21 years$2,748$2,197$1,740$1,369$1,069$694
22 years$2,595$2,050$1,604$1,244$958$606
23 years$2,456$1,918$1,481$1,133$860$531
24 years$2,329$1,797$1,370$1,034$773$465
25 years$2,212$1,686$1,269$944$696$407
26 years$2,104$1,585$1,177$863$627$357
27 years$2,005$1,491$1,093$790$565$314
28 years$1,912$1,405$1,016$724$510$275
29 years$1,826$1,326$945$664$460$242
30 years$1,747$1,252$880$609$416$213
31 years$1,672$1,184$821$559$376$187
32 years$1,602$1,120$766$514$340$165
33 years$1,537$1,061$715$473$308$145
34 years$1,475$1,005$668$435$279$127
35 years$1,417$953$625$400$252$112
36 years$1,363$905$584$369$229$99
37 years$1,311$859$547$340$207$87
38 years$1,263$817$512$313$188$77
39 years$1,217$777$480$289$170$68
40 years$1,173$739$450$266$155$59
41 years$1,132$703$422$246$140$52
42 years$1,092$670$396$227$127$46
43 years$1,055$638$371$209$115$41
44 years$1,019$608$348$193$105$36
45 years$986$580$327$179$95$32
46 years$953$553$307$165$86$28
47 years$922$528$289$152$78$25
48 years$893$504$271$141$71$22
49 years$865$482$255$130$65$19
50 years$838$460$240$120$59$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $858,000, adding $4,482 every year, while hoping to spend $44,197 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: 62/32/6 Blend
61$858,000$858,000$858,000$858,000
62$950,139$904,665$891,366$1,007,751
63$1,000,028$901,969$874,202$1,044,047
64$1,053,524$897,658$854,981$1,078,079
65$1,110,949$891,609$833,588$1,114,081
66$1,172,656$883,687$809,903$1,152,240
67$1,239,030$873,752$783,798$1,192,768
68$1,310,498$861,652$755,142$1,235,895
69$1,387,526$847,230$723,796$1,281,878
70$1,470,626$830,317$689,616$1,331,003
71$1,560,362$810,735$652,451$1,383,585
72$1,657,353$788,295$612,142$1,439,975
73$1,762,278$762,797$568,524$1,500,558
74$1,875,886$734,029$521,425$1,565,766
75$1,998,999$701,769$470,665$1,636,073
76$2,132,520$665,779$416,055$1,712,007
77$2,277,443$625,808$357,399$1,794,148
78$2,434,861$581,592$294,491$1,883,145
79$2,605,978$532,850$227,117$1,979,710
80$2,792,115$479,287$155,053$2,084,635
81$2,994,729$420,590$78,065$2,198,794
82$3,215,420$356,428$0$2,323,156
83$3,455,952$286,452$0$2,459,055
84$3,718,263$210,293$0$2,612,764
85$4,004,489$127,561$0$2,780,607
86$4,316,980$37,844$0$2,964,052
87$4,658,321$0$0$3,164,721
88$5,031,362$0$0$3,405,284
89$5,439,236$0$0$3,682,941
90$5,885,395$0$0$3,986,724
91$6,373,640$0$0$4,319,228
92$6,908,157$0$0$4,683,313
93$7,493,552$0$0$5,082,125
94$8,134,902$0$0$5,519,132
95$8,837,796$0$0$5,998,150
96$9,608,389$0$0$6,523,383
97$10,453,459$0$0$7,099,464
98$11,380,475$0$0$7,731,491
99$12,397,661$0$0$8,425,084
100$13,514,075$0$0$9,186,430