Can I retire at age 62 with 862,000?

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 $862,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11%
1 years$71,183$70,549$69,930$69,327$68,737$68,447
2 years$35,239$34,583$33,947$33,330$32,732$32,440
3 years$23,259$22,600$21,966$21,355$20,766$20,480
4 years$17,271$16,614$15,986$15,385$14,811$14,533
5 years$13,678$13,025$12,405$11,817$11,259$10,991
6 years$11,284$10,636$10,025$9,450$8,909$8,650
7 years$9,575$8,932$8,331$7,770$7,245$6,996
8 years$8,294$7,657$7,065$6,518$6,011$5,772
9 years$7,297$6,666$6,086$5,552$5,062$4,833
10 years$6,501$5,876$5,305$4,786$4,313$4,093
11 years$5,850$5,231$4,671$4,165$3,709$3,499
12 years$5,307$4,695$4,145$3,653$3,214$3,014
13 years$4,849$4,243$3,704$3,225$2,803$2,611
14 years$4,456$3,857$3,328$2,863$2,457$2,274
15 years$4,116$3,523$3,004$2,553$2,163$1,989
16 years$3,819$3,233$2,724$2,286$1,912$1,747
17 years$3,557$2,977$2,479$2,054$1,695$1,538
18 years$3,324$2,751$2,263$1,851$1,507$1,358
19 years$3,117$2,550$2,071$1,673$1,344$1,202
20 years$2,930$2,369$1,901$1,515$1,200$1,066
21 years$2,761$2,207$1,749$1,375$1,074$947
22 years$2,608$2,060$1,612$1,250$963$843
23 years$2,468$1,927$1,488$1,138$864$751
24 years$2,340$1,805$1,376$1,038$777$670
25 years$2,222$1,694$1,275$948$699$598
26 years$2,114$1,592$1,182$867$630$535
27 years$2,014$1,498$1,098$794$568$478
28 years$1,921$1,412$1,020$727$512$428
29 years$1,835$1,332$950$667$462$384
30 years$1,755$1,258$885$612$418$344
31 years$1,680$1,189$825$562$378$308
32 years$1,609$1,125$769$517$342$277
33 years$1,544$1,066$718$475$309$248
34 years$1,482$1,010$671$437$280$223
35 years$1,424$958$628$402$254$200
36 years$1,369$909$587$371$230$180
37 years$1,317$863$549$341$208$162
38 years$1,269$821$515$315$189$145
39 years$1,222$780$482$290$171$131
40 years$1,178$742$452$268$155$118
41 years$1,137$707$424$247$141$106
42 years$1,097$673$397$228$128$95
43 years$1,060$641$373$210$116$86
44 years$1,024$611$350$194$105$77
45 years$990$583$329$179$96$69
46 years$958$556$309$166$87$62
47 years$927$531$290$153$79$56
48 years$897$507$273$141$72$51
49 years$869$484$256$131$65$46
50 years$842$462$241$121$59$41

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $862,000, adding $2,182 every year, while hoping to spend $36,417 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: 21/50/29 Blend
61$862,000$862,000$862,000$862,000
62$952,175$906,489$893,128$963,364
63$1,010,549$912,159$884,300$979,483
64$1,073,657$916,887$873,956$993,534
65$1,141,943$920,588$862,007$1,007,767
66$1,215,896$923,171$848,358$1,022,217
67$1,296,052$924,541$832,913$1,036,931
68$1,383,003$924,597$815,569$1,051,961
69$1,477,397$923,230$796,218$1,067,368
70$1,579,949$920,326$774,749$1,083,225
71$1,691,445$915,763$751,045$1,099,614
72$1,812,749$909,412$724,982$1,116,631
73$1,944,813$901,137$696,432$1,134,385
74$2,088,683$890,791$665,261$1,153,004
75$2,245,511$878,222$631,330$1,172,630
76$2,416,564$863,267$594,491$1,193,429
77$2,603,238$845,752$554,591$1,215,585
78$2,807,069$825,494$511,470$1,239,312
79$3,029,747$802,300$464,962$1,264,847
80$3,273,134$775,965$414,890$1,292,464
81$3,539,278$746,272$361,073$1,322,466
82$3,830,436$712,991$303,321$1,355,199
83$4,149,091$675,878$241,433$1,391,050
84$4,497,980$634,678$175,203$1,430,457
85$4,880,115$589,118$104,412$1,473,907
86$5,298,812$538,910$28,836$1,521,951
87$5,757,726$483,752$0$1,575,204
88$6,260,880$423,321$0$1,650,389
89$6,812,705$357,279$0$1,742,807
90$7,418,082$285,268$0$1,844,466
91$8,082,389$206,908$0$1,956,412
92$8,811,546$121,799$0$2,079,804
93$9,612,076$29,520$0$2,215,930
94$10,491,166$0$0$2,366,218
95$11,456,731$0$0$2,570,974
96$12,517,490$0$0$2,813,924
97$13,683,051$0$0$3,081,048
98$14,963,995$0$0$3,374,791
99$16,371,982$0$0$3,697,850
100$17,919,855$0$0$4,053,193