Can I retire at age 62 with 860,000?

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 $860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$71,018$70,385$69,768$69,166$68,578$66,197
2 years$35,157$34,503$33,868$33,253$32,656$30,282
3 years$23,205$22,548$21,915$21,305$20,718$18,426
4 years$17,231$16,575$15,948$15,349$14,776$12,583
5 years$13,647$12,995$12,377$11,790$11,233$9,144
6 years$11,258$10,611$10,002$9,428$8,888$6,906
7 years$9,553$8,911$8,312$7,752$7,228$5,352
8 years$8,274$7,639$7,049$6,503$5,997$4,225
9 years$7,280$6,651$6,071$5,539$5,050$3,380
10 years$6,486$5,862$5,293$4,774$4,303$2,732
11 years$5,836$5,219$4,660$4,155$3,701$2,226
12 years$5,295$4,684$4,136$3,645$3,207$1,825
13 years$4,838$4,233$3,695$3,218$2,796$1,504
14 years$4,446$3,848$3,320$2,856$2,451$1,244
15 years$4,107$3,515$2,997$2,547$2,158$1,033
16 years$3,810$3,225$2,718$2,281$1,908$860
17 years$3,549$2,970$2,473$2,049$1,691$717
18 years$3,317$2,745$2,257$1,847$1,504$599
19 years$3,109$2,544$2,067$1,669$1,340$501
20 years$2,923$2,364$1,897$1,511$1,197$420
21 years$2,754$2,202$1,745$1,372$1,071$352
22 years$2,601$2,055$1,608$1,247$960$296
23 years$2,462$1,922$1,485$1,136$862$248
24 years$2,334$1,801$1,373$1,036$775$209
25 years$2,217$1,690$1,272$946$697$176
26 years$2,109$1,588$1,179$865$628$148
27 years$2,009$1,495$1,095$792$566$124
28 years$1,917$1,409$1,018$725$511$105
29 years$1,831$1,329$947$665$461$88
30 years$1,751$1,255$882$611$417$74
31 years$1,676$1,186$823$561$377$63
32 years$1,606$1,123$768$515$341$53
33 years$1,540$1,063$717$474$309$44
34 years$1,479$1,008$670$436$279$37
35 years$1,421$956$626$401$253$32
36 years$1,366$907$586$370$229$27
37 years$1,314$861$548$341$208$22
38 years$1,266$819$513$314$188$19
39 years$1,219$779$481$289$171$16
40 years$1,176$741$451$267$155$13
41 years$1,134$705$423$246$141$11
42 years$1,095$671$397$227$128$10
43 years$1,057$640$372$210$116$8
44 years$1,022$610$349$194$105$7
45 years$988$582$328$179$95$6
46 years$955$555$308$165$87$5
47 years$925$529$289$153$79$4
48 years$895$505$272$141$71$3
49 years$867$483$256$130$65$3
50 years$840$461$240$121$59$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $860,000, adding $2,604 every year, while hoping to spend $33,062 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: 35/39/26 Blend
61$860,000$860,000$860,000$860,000
62$950,406$904,826$891,496$976,128
63$1,012,170$913,985$886,183$1,004,675
64$1,079,125$922,484$879,585$1,032,274
65$1,151,767$930,257$871,622$1,061,405
66$1,230,640$937,232$862,214$1,092,226
67$1,316,341$943,332$851,274$1,124,915
68$1,409,529$948,477$838,713$1,159,667
69$1,510,929$952,580$824,437$1,196,701
70$1,621,336$955,549$808,349$1,236,262
71$1,741,629$957,288$790,345$1,278,619
72$1,872,771$957,691$770,317$1,324,074
73$2,015,825$956,648$748,154$1,372,962
74$2,171,959$954,044$723,737$1,425,652
75$2,342,460$949,754$696,944$1,482,558
76$2,528,745$943,646$667,645$1,544,139
77$2,732,372$935,580$635,707$1,610,901
78$2,955,059$925,408$600,988$1,683,409
79$3,198,695$912,973$563,341$1,762,289
80$3,465,362$898,109$522,613$1,848,233
81$3,757,352$880,639$478,644$1,942,010
82$4,077,188$860,377$431,265$2,044,473
83$4,427,650$837,124$380,301$2,156,566
84$4,811,799$810,671$325,569$2,279,334
85$5,233,006$780,797$266,879$2,413,936
86$5,694,983$747,267$204,030$2,561,654
87$6,201,820$709,832$136,814$2,723,909
88$6,758,023$668,231$65,014$2,902,271
89$7,368,552$622,185$0$3,098,481
90$8,038,873$571,401$0$3,317,683
91$8,775,006$515,568$0$3,578,243
92$9,583,585$454,359$0$3,864,528
93$10,471,915$387,427$0$4,179,216
94$11,448,045$314,405$0$4,525,259
95$12,520,842$234,907$0$4,905,918
96$13,700,074$148,525$0$5,324,795
97$14,996,505$54,826$0$5,785,862
98$16,421,991$0$0$6,293,507
99$17,989,596$0$0$6,872,588
100$19,713,712$0$0$7,535,500