Can I retire at age 62 with 864,000?

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 $864,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.8%
1 years$71,348$70,713$70,093$69,488$68,897$68,092
2 years$35,321$34,663$34,026$33,407$32,808$31,998
3 years$23,313$22,653$22,017$21,404$20,815$20,025
4 years$17,311$16,652$16,023$15,421$14,845$14,081
5 years$13,710$13,055$12,434$11,845$11,285$10,549
6 years$11,311$10,661$10,049$9,472$8,930$8,223
7 years$9,597$8,953$8,350$7,788$7,262$6,585
8 years$8,313$7,674$7,082$6,533$6,025$5,377
9 years$7,314$6,682$6,100$5,565$5,074$4,455
10 years$6,516$5,890$5,318$4,797$4,323$3,733
11 years$5,863$5,243$4,682$4,175$3,718$3,156
12 years$5,320$4,706$4,155$3,662$3,222$2,687
13 years$4,860$4,253$3,712$3,233$2,810$2,302
14 years$4,467$3,866$3,335$2,870$2,463$1,981
15 years$4,126$3,531$3,011$2,559$2,168$1,712
16 years$3,828$3,240$2,730$2,291$1,916$1,485
17 years$3,565$2,984$2,484$2,059$1,699$1,291
18 years$3,332$2,757$2,268$1,855$1,511$1,126
19 years$3,124$2,555$2,076$1,677$1,347$984
20 years$2,936$2,375$1,905$1,518$1,203$861
21 years$2,767$2,212$1,753$1,378$1,076$755
22 years$2,614$2,065$1,615$1,253$965$663
23 years$2,474$1,931$1,491$1,141$866$582
24 years$2,345$1,809$1,379$1,041$779$513
25 years$2,228$1,698$1,278$951$701$451
26 years$2,119$1,596$1,185$869$631$398
27 years$2,019$1,502$1,100$795$569$351
28 years$1,926$1,415$1,023$729$513$310
29 years$1,839$1,335$952$668$464$273
30 years$1,759$1,261$887$613$419$241
31 years$1,684$1,192$827$563$379$213
32 years$1,613$1,128$771$518$343$189
33 years$1,547$1,068$720$476$310$167
34 years$1,485$1,012$673$438$281$148
35 years$1,427$960$629$403$254$131
36 years$1,372$911$588$371$230$116
37 years$1,320$865$551$342$209$102
38 years$1,271$823$516$315$189$91
39 years$1,225$782$483$291$172$80
40 years$1,181$744$453$268$156$71
41 years$1,140$708$425$247$141$63
42 years$1,100$675$398$228$128$56
43 years$1,062$643$374$211$116$49
44 years$1,027$613$351$195$106$44
45 years$992$584$329$180$96$39
46 years$960$557$309$166$87$34
47 years$929$532$291$153$79$30
48 years$899$508$273$142$72$27
49 years$871$485$257$131$65$24
50 years$844$463$241$121$59$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $864,000, adding $4,105 every year, while hoping to spend $41,278 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: 62/24/14 Blend
61$864,000$864,000$864,000$864,000
62$956,362$910,570$897,178$1,012,145
63$1,009,992$911,269$883,314$1,050,795
64$1,067,708$910,618$867,602$1,087,902
65$1,129,884$908,508$849,937$1,127,409
66$1,196,930$904,823$830,208$1,169,553
67$1,269,297$899,439$808,300$1,214,592
68$1,347,479$892,225$784,091$1,262,815
69$1,432,020$883,042$757,456$1,314,540
70$1,523,517$871,743$728,262$1,370,119
71$1,622,629$858,171$696,372$1,429,941
72$1,730,076$842,161$661,640$1,494,439
73$1,846,655$823,537$623,916$1,564,089
74$1,973,238$802,115$583,041$1,639,418
75$2,110,786$777,697$538,851$1,721,011
76$2,260,357$750,075$491,173$1,809,511
77$2,423,114$719,029$439,828$1,905,633
78$2,600,337$684,326$384,627$2,010,165
79$2,793,433$645,720$325,374$2,123,979
80$3,003,953$602,950$261,864$2,248,038
81$3,233,601$555,740$193,882$2,383,408
82$3,484,256$503,799$121,205$2,531,266
83$3,757,985$446,819$43,599$2,692,913
84$4,057,060$384,475$0$2,869,786
85$4,383,988$316,422$0$3,069,331
86$4,741,526$242,298$0$3,294,775
87$5,132,709$161,718$0$3,541,577
88$5,560,881$74,277$0$3,811,918
89$6,029,722$0$0$4,108,204
90$6,543,286$0$0$4,438,494
91$7,106,038$0$0$4,821,976
92$7,722,893$0$0$5,242,392
93$8,399,267$0$0$5,703,440
94$9,141,123$0$0$6,209,195
95$9,955,030$0$0$6,764,143
96$10,848,224$0$0$7,373,226
97$11,828,673$0$0$8,041,888
98$12,905,156$0$0$8,776,127
99$14,087,345$0$0$9,582,548
100$15,385,891$0$0$10,468,429