Can I retire at age 62 with 863,000?

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 $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%14.4%
1 years$71,266$70,631$70,012$69,407$68,817$67,566
2 years$35,280$34,623$33,986$33,369$32,770$31,514
3 years$23,286$22,627$21,991$21,380$20,791$19,569
4 years$17,291$16,633$16,004$15,403$14,828$13,650
5 years$13,694$13,040$12,420$11,831$11,272$10,141
6 years$11,297$10,648$10,037$9,461$8,919$7,836
7 years$9,586$8,943$8,341$7,779$7,254$6,219
8 years$8,303$7,665$7,074$6,525$6,018$5,032
9 years$7,306$6,674$6,093$5,558$5,068$4,129
10 years$6,508$5,883$5,312$4,791$4,318$3,427
11 years$5,856$5,237$4,676$4,170$3,714$2,868
12 years$5,314$4,701$4,150$3,657$3,218$2,417
13 years$4,855$4,248$3,708$3,229$2,806$2,049
14 years$4,461$3,861$3,331$2,866$2,460$1,745
15 years$4,121$3,527$3,008$2,556$2,166$1,492
16 years$3,823$3,236$2,727$2,289$1,914$1,279
17 years$3,561$2,981$2,482$2,056$1,697$1,100
18 years$3,328$2,754$2,265$1,853$1,509$948
19 years$3,120$2,553$2,074$1,675$1,345$819
20 years$2,933$2,372$1,903$1,517$1,202$708
21 years$2,764$2,209$1,751$1,376$1,075$613
22 years$2,611$2,062$1,613$1,252$964$532
23 years$2,471$1,929$1,490$1,140$865$462
24 years$2,343$1,807$1,378$1,040$778$401
25 years$2,225$1,696$1,276$949$700$349
26 years$2,117$1,594$1,184$868$630$304
27 years$2,016$1,500$1,099$795$568$264
28 years$1,923$1,414$1,022$728$513$230
29 years$1,837$1,334$951$668$463$201
30 years$1,757$1,259$886$613$418$175
31 years$1,682$1,191$826$563$378$153
32 years$1,611$1,126$770$517$342$133
33 years$1,546$1,067$719$476$310$116
34 years$1,484$1,011$672$438$280$101
35 years$1,425$959$628$403$254$89
36 years$1,371$910$588$371$230$77
37 years$1,319$864$550$342$209$68
38 years$1,270$822$515$315$189$59
39 years$1,224$781$483$290$171$51
40 years$1,180$743$452$268$155$45
41 years$1,138$708$424$247$141$39
42 years$1,099$674$398$228$128$34
43 years$1,061$642$373$211$116$30
44 years$1,025$612$350$194$105$26
45 years$991$584$329$180$96$23
46 years$959$557$309$166$87$20
47 years$928$531$290$153$79$17
48 years$898$507$273$142$72$15
49 years$870$484$256$131$65$13
50 years$843$463$241$121$59$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $863,000, adding $6,938 every year, while hoping to spend $48,892 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: 27/49/24 Blend
61$863,000$863,000$863,000$863,000
62$958,183$912,444$899,067$976,681
63$1,003,896$905,133$877,165$984,618
64$1,052,635$895,825$852,891$988,412
65$1,104,654$884,370$826,113$991,461
66$1,160,235$870,611$796,695$993,734
67$1,219,688$854,380$764,492$995,200
68$1,283,349$835,498$729,356$995,831
69$1,351,590$813,777$691,129$995,603
70$1,424,819$789,018$649,648$994,494
71$1,503,480$761,010$604,741$992,485
72$1,588,065$729,530$556,230$989,564
73$1,679,112$694,340$503,928$985,722
74$1,777,210$655,192$447,638$980,959
75$1,883,010$611,821$387,159$975,281
76$1,997,224$563,947$322,275$968,705
77$2,120,635$511,275$252,766$961,255
78$2,254,105$453,492$178,398$952,972
79$2,398,579$390,269$98,930$943,905
80$2,555,098$321,256$14,109$934,124
81$2,724,805$246,085$0$923,713
82$2,908,960$164,367$0$932,346
83$3,108,944$75,691$0$945,712
84$3,326,279$0$0$960,424
85$3,562,639$0$0$987,731
86$3,819,867$0$0$1,061,989
87$4,099,987$0$0$1,142,987
88$4,405,231$0$0$1,231,386
89$4,738,051$0$0$1,327,913
90$5,101,148$0$0$1,433,371
91$5,497,496$0$0$1,548,641
92$5,930,366$0$0$1,674,694
93$6,403,360$0$0$1,812,600
94$6,920,446$0$0$1,963,534
95$7,485,988$0$0$2,128,795
96$8,104,794$0$0$2,309,810
97$8,782,159$0$0$2,508,149
98$9,523,912$0$0$2,725,546
99$10,336,471$0$0$2,963,907
100$11,226,906$0$0$3,225,331