Can I retire at age 62 with 863,000?

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 $863,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$71,266$70,631$70,012$69,407$68,817$67,017
2 years$35,280$34,623$33,986$33,369$32,770$30,969
3 years$23,286$22,627$21,991$21,380$20,791$19,045
4 years$17,291$16,633$16,004$15,403$14,828$13,151
5 years$13,694$13,040$12,420$11,831$11,272$9,668
6 years$11,297$10,648$10,037$9,461$8,919$7,390
7 years$9,586$8,943$8,341$7,779$7,254$5,799
8 years$8,303$7,665$7,074$6,525$6,018$4,638
9 years$7,306$6,674$6,093$5,558$5,068$3,761
10 years$6,508$5,883$5,312$4,791$4,318$3,082
11 years$5,856$5,237$4,676$4,170$3,714$2,547
12 years$5,314$4,701$4,150$3,657$3,218$2,119
13 years$4,855$4,248$3,708$3,229$2,806$1,772
14 years$4,461$3,861$3,331$2,866$2,460$1,489
15 years$4,121$3,527$3,008$2,556$2,166$1,255
16 years$3,823$3,236$2,727$2,289$1,914$1,061
17 years$3,561$2,981$2,482$2,056$1,697$899
18 years$3,328$2,754$2,265$1,853$1,509$764
19 years$3,120$2,553$2,074$1,675$1,345$650
20 years$2,933$2,372$1,903$1,517$1,202$554
21 years$2,764$2,209$1,751$1,376$1,075$472
22 years$2,611$2,062$1,613$1,252$964$403
23 years$2,471$1,929$1,490$1,140$865$345
24 years$2,343$1,807$1,378$1,040$778$295
25 years$2,225$1,696$1,276$949$700$252
26 years$2,117$1,594$1,184$868$630$216
27 years$2,016$1,500$1,099$795$568$185
28 years$1,923$1,414$1,022$728$513$159
29 years$1,837$1,334$951$668$463$136
30 years$1,757$1,259$886$613$418$117
31 years$1,682$1,191$826$563$378$100
32 years$1,611$1,126$770$517$342$86
33 years$1,546$1,067$719$476$310$74
34 years$1,484$1,011$672$438$280$63
35 years$1,425$959$628$403$254$54
36 years$1,371$910$588$371$230$47
37 years$1,319$864$550$342$209$40
38 years$1,270$822$515$315$189$34
39 years$1,224$781$483$290$171$30
40 years$1,180$743$452$268$155$25
41 years$1,138$708$424$247$141$22
42 years$1,099$674$398$228$128$19
43 years$1,061$642$373$211$116$16
44 years$1,025$612$350$194$105$14
45 years$991$584$329$180$96$12
46 years$959$557$309$166$87$10
47 years$928$531$290$153$79$9
48 years$898$507$273$142$72$8
49 years$870$484$256$131$65$6
50 years$843$463$241$121$59$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $863,000, adding $3,389 every year, while hoping to spend $34,581 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: 70/22/8 Blend
61$863,000$863,000$863,000$863,000
62$954,522$908,783$895,406$1,019,783
63$1,015,089$916,519$888,608$1,071,146
64$1,080,675$923,476$880,424$1,122,767
65$1,151,756$929,578$870,770$1,178,310
66$1,228,853$934,745$859,559$1,238,153
67$1,312,542$938,894$846,700$1,302,713
68$1,403,456$941,934$832,099$1,372,450
69$1,502,289$943,770$815,655$1,447,869
70$1,609,808$944,299$797,265$1,529,528
71$1,726,853$943,415$776,818$1,618,045
72$1,854,351$941,002$754,200$1,714,096
73$1,993,322$936,938$729,293$1,818,431
74$2,144,888$931,095$701,971$1,931,875
75$2,310,283$923,335$672,104$2,055,339
76$2,490,867$913,513$639,554$2,189,826
77$2,688,136$901,476$604,180$2,336,444
78$2,903,737$887,059$565,831$2,496,413
79$3,139,484$870,091$524,352$2,671,079
80$3,397,373$850,387$479,580$2,861,928
81$3,679,603$827,754$431,344$3,070,595
82$3,988,596$801,987$379,467$3,298,888
83$4,327,016$772,868$323,763$3,548,797
84$4,697,800$740,167$264,037$3,822,518
85$5,104,181$703,641$200,088$4,122,472
86$5,549,720$663,031$131,703$4,451,330
87$6,038,338$618,067$58,662$4,812,035
88$6,574,356$568,460$0$5,207,834
89$7,162,531$513,905$0$5,643,955
90$7,808,104$454,081$0$6,128,150
91$8,516,848$388,648$0$6,659,780
92$9,295,122$317,247$0$7,243,669
93$10,149,931$239,498$0$7,885,131
94$11,088,991$155,001$0$8,590,029
95$12,120,804$63,332$0$9,364,821
96$13,254,735$0$0$10,216,628
97$14,501,102$0$0$11,162,007
98$15,871,272$0$0$12,218,195
99$17,377,767$0$0$13,379,521
100$19,034,385$0$0$14,656,626