Can I retire at age 62 with 866,000?

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 $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%16.3%
1 years$71,513$70,876$70,255$69,648$69,056$67,277
2 years$35,403$34,743$34,104$33,485$32,884$31,104
3 years$23,367$22,705$22,068$21,454$20,863$19,137
4 years$17,351$16,691$16,060$15,456$14,880$13,221
5 years$13,742$13,086$12,463$11,872$11,311$9,725
6 years$11,337$10,685$10,072$9,494$8,950$7,438
7 years$9,619$8,974$8,370$7,806$7,279$5,840
8 years$8,332$7,692$7,098$6,548$6,039$4,673
9 years$7,331$6,697$6,114$5,577$5,085$3,791
10 years$6,531$5,903$5,330$4,808$4,333$3,109
11 years$5,877$5,255$4,693$4,184$3,726$2,571
12 years$5,332$4,717$4,165$3,670$3,229$2,141
13 years$4,871$4,263$3,721$3,240$2,816$1,792
14 years$4,477$3,875$3,343$2,876$2,468$1,506
15 years$4,135$3,540$3,018$2,565$2,173$1,270
16 years$3,837$3,248$2,737$2,297$1,921$1,075
17 years$3,574$2,991$2,490$2,064$1,703$912
18 years$3,340$2,764$2,273$1,860$1,514$775
19 years$3,131$2,561$2,081$1,680$1,350$660
20 years$2,943$2,380$1,910$1,522$1,206$563
21 years$2,774$2,217$1,757$1,381$1,079$480
22 years$2,620$2,070$1,619$1,256$967$410
23 years$2,479$1,936$1,495$1,144$868$351
24 years$2,351$1,814$1,383$1,043$780$301
25 years$2,233$1,702$1,281$953$702$257
26 years$2,124$1,599$1,188$871$632$221
27 years$2,023$1,505$1,103$797$570$189
28 years$1,930$1,418$1,025$731$515$162
29 years$1,843$1,338$954$670$465$139
30 years$1,763$1,264$889$615$420$120
31 years$1,687$1,195$828$565$380$103
32 years$1,617$1,130$773$519$343$88
33 years$1,551$1,070$722$477$311$76
34 years$1,489$1,015$674$439$281$65
35 years$1,430$962$630$404$255$56
36 years$1,375$913$590$372$231$48
37 years$1,323$867$552$343$209$41
38 years$1,274$824$517$316$190$35
39 years$1,228$784$484$291$172$30
40 years$1,184$746$454$269$156$26
41 years$1,142$710$426$248$142$22
42 years$1,103$676$399$229$128$19
43 years$1,065$644$375$211$117$17
44 years$1,029$614$352$195$106$14
45 years$995$586$330$180$96$12
46 years$962$559$310$166$87$11
47 years$931$533$291$154$79$9
48 years$901$509$274$142$72$8
49 years$873$486$257$131$65$7
50 years$846$464$242$121$59$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $866,000, adding $5,911 every year, while hoping to spend $50,640 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: 40/45/15 Blend
61$866,000$866,000$866,000$866,000
62$960,429$914,531$901,108$994,342
63$1,004,512$905,463$877,415$1,009,891
64$1,051,395$894,253$851,230$1,021,321
65$1,101,309$880,742$822,418$1,032,598
66$1,154,508$864,764$790,835$1,043,732
67$1,211,270$846,141$756,331$1,054,739
68$1,271,902$824,683$718,749$1,065,641
69$1,336,735$800,192$677,927$1,076,464
70$1,406,137$772,457$633,693$1,087,246
71$1,480,510$741,254$585,868$1,098,029
72$1,560,293$706,346$534,266$1,108,867
73$1,645,970$667,485$478,691$1,119,826
74$1,738,073$624,405$418,940$1,130,983
75$1,837,182$576,827$354,801$1,142,430
76$1,943,938$524,454$286,050$1,154,275
77$2,059,043$466,976$212,456$1,166,644
78$2,183,269$404,061$133,777$1,179,684
79$2,317,463$335,361$49,759$1,193,565
80$2,462,557$260,507$0$1,208,484
81$2,619,575$179,109$0$1,231,051
82$2,789,643$90,756$0$1,264,051
83$2,973,998$0$0$1,299,854
84$3,174,002$0$0$1,341,310
85$3,391,151$0$0$1,435,209
86$3,627,090$0$0$1,537,333
87$3,883,633$0$0$1,648,480
88$4,162,769$0$0$1,769,526
89$4,466,693$0$0$1,901,434
90$4,797,815$0$0$2,045,267
91$5,158,790$0$0$2,202,192
92$5,552,540$0$0$2,373,496
93$5,982,281$0$0$2,560,593
94$6,451,552$0$0$2,765,041
95$6,964,249$0$0$2,988,555
96$7,524,663$0$0$3,233,025
97$8,137,516$0$0$3,500,530
98$8,808,008$0$0$3,793,358
99$9,541,864$0$0$4,114,032
100$10,345,391$0$0$4,465,328