Can I retire at age 62 with 866,000?

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 $866,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.2%
1 years$71,513$70,876$70,255$69,648$69,056$67,856
2 years$35,403$34,743$34,104$33,485$32,884$31,679
3 years$23,367$22,705$22,068$21,454$20,863$19,690
4 years$17,351$16,691$16,060$15,456$14,880$13,749
5 years$13,742$13,086$12,463$11,872$11,311$10,225
6 years$11,337$10,685$10,072$9,494$8,950$7,910
7 years$9,619$8,974$8,370$7,806$7,279$6,285
8 years$8,332$7,692$7,098$6,548$6,039$5,090
9 years$7,331$6,697$6,114$5,577$5,085$4,183
10 years$6,531$5,903$5,330$4,808$4,333$3,475
11 years$5,877$5,255$4,693$4,184$3,726$2,912
12 years$5,332$4,717$4,165$3,670$3,229$2,458
13 years$4,871$4,263$3,721$3,240$2,816$2,086
14 years$4,477$3,875$3,343$2,876$2,468$1,779
15 years$4,135$3,540$3,018$2,565$2,173$1,523
16 years$3,837$3,248$2,737$2,297$1,921$1,308
17 years$3,574$2,991$2,490$2,064$1,703$1,126
18 years$3,340$2,764$2,273$1,860$1,514$972
19 years$3,131$2,561$2,081$1,680$1,350$841
20 years$2,943$2,380$1,910$1,522$1,206$728
21 years$2,774$2,217$1,757$1,381$1,079$632
22 years$2,620$2,070$1,619$1,256$967$549
23 years$2,479$1,936$1,495$1,144$868$477
24 years$2,351$1,814$1,383$1,043$780$415
25 years$2,233$1,702$1,281$953$702$362
26 years$2,124$1,599$1,188$871$632$315
27 years$2,023$1,505$1,103$797$570$275
28 years$1,930$1,418$1,025$731$515$240
29 years$1,843$1,338$954$670$465$209
30 years$1,763$1,264$889$615$420$183
31 years$1,687$1,195$828$565$380$160
32 years$1,617$1,130$773$519$343$140
33 years$1,551$1,070$722$477$311$122
34 years$1,489$1,015$674$439$281$107
35 years$1,430$962$630$404$255$93
36 years$1,375$913$590$372$231$82
37 years$1,323$867$552$343$209$71
38 years$1,274$824$517$316$190$62
39 years$1,228$784$484$291$172$55
40 years$1,184$746$454$269$156$48
41 years$1,142$710$426$248$142$42
42 years$1,103$676$399$229$128$37
43 years$1,065$644$375$211$117$32
44 years$1,029$614$352$195$106$28
45 years$995$586$330$180$96$25
46 years$962$559$310$166$87$21
47 years$931$533$291$154$79$19
48 years$901$509$274$142$72$16
49 years$873$486$257$131$65$14
50 years$846$464$242$121$59$13

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $866,000, adding $2,282 every year, while hoping to spend $58,462 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: 46/36/18 Blend
61$866,000$866,000$866,000$866,000
62$956,686$910,788$897,365$995,684
63$992,065$893,213$865,223$1,005,559
64$1,029,093$872,818$830,046$1,010,222
65$1,067,877$849,403$791,669$1,014,043
66$1,108,532$822,755$749,921$1,016,969
67$1,151,183$792,651$704,625$1,018,947
68$1,195,967$758,854$655,593$1,019,920
69$1,243,030$721,113$602,630$1,019,834
70$1,292,534$679,162$545,533$1,018,631
71$1,344,653$632,721$484,088$1,016,254
72$1,399,576$581,494$418,074$1,012,647
73$1,457,512$525,166$347,259$1,007,753
74$1,518,685$463,406$271,399$1,001,517
75$1,583,342$395,863$190,242$993,883
76$1,651,751$322,169$103,523$984,799
77$1,724,205$241,931$10,966$974,215
78$1,801,024$154,736$0$962,084
79$1,882,560$60,149$0$965,227
80$1,969,193$0$0$970,087
81$2,061,344$0$0$991,335
82$2,159,470$0$0$1,039,389
83$2,264,072$0$0$1,090,672
84$2,375,700$0$0$1,145,462
85$2,494,956$0$0$1,204,062
86$2,622,500$0$0$1,266,805
87$2,759,055$0$0$1,334,056
88$2,905,413$0$0$1,406,214
89$3,062,446$0$0$1,483,719
90$3,231,107$0$0$1,567,053
91$3,412,445$0$0$1,656,745
92$3,607,610$0$0$1,753,376
93$3,817,866$0$0$1,857,583
94$4,044,599$0$0$1,970,069
95$4,289,334$0$0$2,091,604
96$4,553,746$0$0$2,223,033
97$4,839,676$0$0$2,365,288
98$5,149,146$0$0$2,519,391
99$5,484,380$0$0$2,686,467
100$5,847,824$0$0$2,867,754