Can I retire at age 62 with 860,000?

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 $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%12.4%
1 years$71,018$70,385$69,768$69,166$68,578$67,890
2 years$35,157$34,503$33,868$33,253$32,656$31,963
3 years$23,205$22,548$21,915$21,305$20,718$20,042
4 years$17,231$16,575$15,948$15,349$14,776$14,122
5 years$13,647$12,995$12,377$11,790$11,233$10,602
6 years$11,258$10,611$10,002$9,428$8,888$8,282
7 years$9,553$8,911$8,312$7,752$7,228$6,647
8 years$8,274$7,639$7,049$6,503$5,997$5,440
9 years$7,280$6,651$6,071$5,539$5,050$4,517
10 years$6,486$5,862$5,293$4,774$4,303$3,794
11 years$5,836$5,219$4,660$4,155$3,701$3,216
12 years$5,295$4,684$4,136$3,645$3,207$2,745
13 years$4,838$4,233$3,695$3,218$2,796$2,358
14 years$4,446$3,848$3,320$2,856$2,451$2,035
15 years$4,107$3,515$2,997$2,547$2,158$1,763
16 years$3,810$3,225$2,718$2,281$1,908$1,533
17 years$3,549$2,970$2,473$2,049$1,691$1,337
18 years$3,317$2,745$2,257$1,847$1,504$1,169
19 years$3,109$2,544$2,067$1,669$1,340$1,025
20 years$2,923$2,364$1,897$1,511$1,197$899
21 years$2,754$2,202$1,745$1,372$1,071$791
22 years$2,601$2,055$1,608$1,247$960$696
23 years$2,462$1,922$1,485$1,136$862$614
24 years$2,334$1,801$1,373$1,036$775$542
25 years$2,217$1,690$1,272$946$697$479
26 years$2,109$1,588$1,179$865$628$423
27 years$2,009$1,495$1,095$792$566$374
28 years$1,917$1,409$1,018$725$511$332
29 years$1,831$1,329$947$665$461$294
30 years$1,751$1,255$882$611$417$260
31 years$1,676$1,186$823$561$377$231
32 years$1,606$1,123$768$515$341$205
33 years$1,540$1,063$717$474$309$182
34 years$1,479$1,008$670$436$279$161
35 years$1,421$956$626$401$253$143
36 years$1,366$907$586$370$229$127
37 years$1,314$861$548$341$208$113
38 years$1,266$819$513$314$188$100
39 years$1,219$779$481$289$171$89
40 years$1,176$741$451$267$155$79
41 years$1,134$705$423$246$141$70
42 years$1,095$671$397$227$128$63
43 years$1,057$640$372$210$116$56
44 years$1,022$610$349$194$105$49
45 years$988$582$328$179$95$44
46 years$955$555$308$165$87$39
47 years$925$529$289$153$79$35
48 years$895$505$272$141$71$31
49 years$867$483$256$130$65$27
50 years$840$461$240$121$59$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $860,000, adding $5,345 every year, while hoping to spend $36,712 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: 42/46/12 Blend
61$860,000$860,000$860,000$860,000
62$953,233$907,653$894,323$989,705
63$1,011,402$913,067$885,222$1,021,205
64$1,074,273$917,516$874,585$1,051,217
65$1,142,288$920,913$862,323$1,082,904
66$1,215,931$923,168$848,341$1,116,433
67$1,295,736$924,182$832,540$1,151,994
68$1,382,288$923,854$814,816$1,189,794
69$1,476,231$922,073$795,062$1,230,064
70$1,578,274$918,722$773,165$1,273,064
71$1,689,197$913,678$749,004$1,319,080
72$1,809,857$906,810$722,458$1,368,429
73$1,941,198$897,979$693,396$1,421,466
74$2,084,257$887,038$661,682$1,478,584
75$2,240,178$873,830$627,175$1,540,217
76$2,410,218$858,189$589,727$1,606,851
77$2,595,761$839,940$549,183$1,679,021
78$2,798,329$818,898$505,382$1,757,324
79$3,019,600$794,866$458,154$1,842,419
80$3,261,420$767,635$407,322$1,935,039
81$3,525,820$736,985$352,703$2,035,995
82$3,815,040$702,682$294,104$2,146,187
83$4,131,541$664,481$231,324$2,266,611
84$4,478,038$622,120$164,153$2,398,371
85$4,857,517$575,324$92,372$2,542,689
86$5,273,269$523,800$15,752$2,700,920
87$5,728,917$467,240$0$2,874,562
88$6,228,451$405,319$0$3,073,726
89$6,776,265$337,692$0$3,294,498
90$7,377,201$263,996$0$3,536,923
91$8,036,589$183,845$0$3,803,283
92$8,760,303$96,835$0$4,096,101
93$9,554,811$2,537$0$4,418,163
94$10,427,239$0$0$4,772,550
95$11,385,436$0$0$5,213,029
96$12,438,050$0$0$5,698,438
97$13,594,607$0$0$6,231,899
98$14,865,600$0$0$6,818,268
99$16,262,592$0$0$7,462,895
100$17,798,319$0$0$8,171,672