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%12.1%
1 years$70,853$70,222$69,606$69,005$68,418$67,817
2 years$35,076$34,422$33,789$33,175$32,580$31,974
3 years$23,151$22,495$21,864$21,256$20,670$20,078
4 years$17,191$16,537$15,911$15,314$14,742$14,169
5 years$13,615$12,965$12,348$11,762$11,207$10,654
6 years$11,232$10,587$9,979$9,406$8,867$8,336
7 years$9,531$8,891$8,293$7,734$7,212$6,701
8 years$8,255$7,621$7,033$6,487$5,983$5,494
9 years$7,264$6,635$6,057$5,526$5,038$4,570
10 years$6,471$5,849$5,281$4,763$4,293$3,846
11 years$5,823$5,207$4,649$4,146$3,692$3,266
12 years$5,283$4,673$4,126$3,636$3,199$2,793
13 years$4,826$4,223$3,686$3,210$2,790$2,403
14 years$4,436$3,839$3,312$2,850$2,446$2,078
15 years$4,097$3,507$2,990$2,541$2,153$1,805
16 years$3,801$3,218$2,711$2,276$1,903$1,572
17 years$3,541$2,963$2,467$2,045$1,687$1,374
18 years$3,309$2,738$2,252$1,843$1,500$1,204
19 years$3,102$2,538$2,062$1,665$1,337$1,057
20 years$2,916$2,358$1,892$1,508$1,195$930
21 years$2,748$2,197$1,740$1,369$1,069$820
22 years$2,595$2,050$1,604$1,244$958$724
23 years$2,456$1,918$1,481$1,133$860$639
24 years$2,329$1,797$1,370$1,034$773$566
25 years$2,212$1,686$1,269$944$696$501
26 years$2,104$1,585$1,177$863$627$444
27 years$2,005$1,491$1,093$790$565$394
28 years$1,912$1,405$1,016$724$510$349
29 years$1,826$1,326$945$664$460$310
30 years$1,747$1,252$880$609$416$276
31 years$1,672$1,184$821$559$376$245
32 years$1,602$1,120$766$514$340$218
33 years$1,537$1,061$715$473$308$194
34 years$1,475$1,005$668$435$279$172
35 years$1,417$953$625$400$252$153
36 years$1,363$905$584$369$229$137
37 years$1,311$859$547$340$207$122
38 years$1,263$817$512$313$188$108
39 years$1,217$777$480$289$170$97
40 years$1,173$739$450$266$155$86
41 years$1,132$703$422$246$140$77
42 years$1,092$670$396$227$127$68
43 years$1,055$638$371$209$115$61
44 years$1,019$608$348$193$105$54
45 years$986$580$327$179$95$48
46 years$953$553$307$165$86$43
47 years$922$528$289$152$78$38
48 years$893$504$271$141$71$34
49 years$865$482$255$130$65$31
50 years$838$460$240$120$59$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $858,000, adding $4,951 every year, while hoping to spend $31,470 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: 56/34/10 Blend
61$858,000$858,000$858,000$858,000
62$950,623$905,149$891,850$1,001,258
63$1,014,103$916,017$888,243$1,046,912
64$1,083,003$926,364$883,461$1,092,709
65$1,157,842$936,129$877,430$1,141,838
66$1,239,193$945,251$870,075$1,194,621
67$1,327,685$953,661$861,316$1,251,414
68$1,424,008$961,290$851,070$1,312,612
69$1,528,925$968,062$839,249$1,378,646
70$1,643,273$973,894$825,761$1,449,997
71$1,767,974$978,702$810,511$1,527,192
72$1,904,042$982,393$793,398$1,610,815
73$2,052,595$984,872$774,318$1,701,509
74$2,214,863$986,033$753,160$1,799,986
75$2,392,198$985,768$729,810$1,907,030
76$2,586,091$983,959$704,148$2,023,506
77$2,798,182$980,483$676,047$2,150,370
78$3,030,279$975,209$645,377$2,288,676
79$3,284,370$967,997$611,999$2,439,588
80$3,562,645$958,699$575,771$2,604,391
81$3,867,518$947,158$536,543$2,784,501
82$4,201,645$933,208$494,157$2,981,484
83$4,567,951$916,674$448,449$3,197,064
84$4,969,659$897,368$399,250$3,433,148
85$5,410,319$875,094$346,379$3,691,835
86$5,893,839$849,641$289,650$3,975,444
87$6,424,525$820,788$228,868$4,286,535
88$7,007,122$788,301$163,830$4,627,930
89$7,646,853$751,933$94,323$5,002,743
90$8,349,474$711,419$20,125$5,414,409
91$9,121,325$666,484$0$5,866,718
92$9,969,392$616,834$0$6,370,153
93$10,901,370$562,158$0$6,925,726
94$11,925,734$502,128$0$7,536,402
95$13,051,825$436,399$0$8,207,820
96$14,289,932$364,603$0$8,946,199
97$15,651,390$286,354$0$9,758,397
98$17,148,690$201,243$0$10,651,975
99$18,795,591$108,839$0$11,635,272
100$20,607,255$8,686$0$12,717,481