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%18.8%
1 years$71,513$70,876$70,255$69,648$69,056$66,606
2 years$35,403$34,743$34,104$33,485$32,884$30,441
3 years$23,367$22,705$22,068$21,454$20,863$18,505
4 years$17,351$16,691$16,060$15,456$14,880$12,624
5 years$13,742$13,086$12,463$11,872$11,311$9,164
6 years$11,337$10,685$10,072$9,494$8,950$6,913
7 years$9,619$8,974$8,370$7,806$7,279$5,352
8 years$8,332$7,692$7,098$6,548$6,039$4,219
9 years$7,331$6,697$6,114$5,577$5,085$3,372
10 years$6,531$5,903$5,330$4,808$4,333$2,722
11 years$5,877$5,255$4,693$4,184$3,726$2,215
12 years$5,332$4,717$4,165$3,670$3,229$1,814
13 years$4,871$4,263$3,721$3,240$2,816$1,493
14 years$4,477$3,875$3,343$2,876$2,468$1,233
15 years$4,135$3,540$3,018$2,565$2,173$1,022
16 years$3,837$3,248$2,737$2,297$1,921$849
17 years$3,574$2,991$2,490$2,064$1,703$707
18 years$3,340$2,764$2,273$1,860$1,514$590
19 years$3,131$2,561$2,081$1,680$1,350$493
20 years$2,943$2,380$1,910$1,522$1,206$412
21 years$2,774$2,217$1,757$1,381$1,079$345
22 years$2,620$2,070$1,619$1,256$967$289
23 years$2,479$1,936$1,495$1,144$868$243
24 years$2,351$1,814$1,383$1,043$780$204
25 years$2,233$1,702$1,281$953$702$171
26 years$2,124$1,599$1,188$871$632$144
27 years$2,023$1,505$1,103$797$570$121
28 years$1,930$1,418$1,025$731$515$101
29 years$1,843$1,338$954$670$465$85
30 years$1,763$1,264$889$615$420$72
31 years$1,687$1,195$828$565$380$60
32 years$1,617$1,130$773$519$343$51
33 years$1,551$1,070$722$477$311$43
34 years$1,489$1,015$674$439$281$36
35 years$1,430$962$630$404$255$30
36 years$1,375$913$590$372$231$25
37 years$1,323$867$552$343$209$21
38 years$1,274$824$517$316$190$18
39 years$1,228$784$484$291$172$15
40 years$1,184$746$454$269$156$13
41 years$1,142$710$426$248$142$11
42 years$1,103$676$399$229$128$9
43 years$1,065$644$375$211$117$8
44 years$1,029$614$352$195$106$6
45 years$995$586$330$180$96$5
46 years$962$559$310$166$87$5
47 years$931$533$291$154$79$4
48 years$901$509$274$142$72$3
49 years$873$486$257$131$65$3
50 years$846$464$242$121$59$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $866,000, adding $4,984 every year, while hoping to spend $29,463 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: 25/47/28 Blend
61$866,000$866,000$866,000$866,000
62$959,473$913,575$900,152$974,943
63$1,025,991$926,992$898,959$1,001,651
64$1,098,306$940,078$896,738$1,027,441
65$1,176,979$952,788$893,424$1,054,481
66$1,262,625$965,069$888,949$1,082,898
67$1,355,924$976,869$883,240$1,112,830
68$1,457,622$988,129$876,221$1,144,433
69$1,568,539$998,787$867,815$1,177,880
70$1,689,581$1,008,778$857,937$1,213,363
71$1,821,742$1,018,032$846,502$1,251,098
72$1,966,118$1,026,474$833,418$1,291,322
73$2,123,915$1,034,024$818,590$1,334,303
74$2,296,460$1,040,597$801,919$1,380,334
75$2,485,217$1,046,104$783,301$1,429,743
76$2,691,793$1,050,448$762,626$1,482,897
77$2,917,963$1,053,526$739,781$1,540,199
78$3,165,678$1,055,232$714,646$1,602,100
79$3,437,087$1,055,448$687,097$1,669,099
80$3,734,558$1,054,053$657,002$1,741,749
81$4,060,698$1,050,916$624,227$1,820,667
82$4,418,378$1,045,901$588,628$1,906,533
83$4,810,762$1,038,859$550,056$2,000,104
84$5,241,333$1,029,636$508,356$2,102,219
85$5,713,928$1,018,067$463,365$2,213,805
86$6,232,774$1,003,978$414,913$2,335,893
87$6,802,527$987,183$362,823$2,469,622
88$7,428,316$967,486$306,909$2,616,256
89$8,115,791$944,681$246,978$2,777,193
90$8,871,178$918,546$182,827$2,953,981
91$9,701,332$888,849$114,246$3,148,333
92$10,613,809$855,343$41,014$3,362,145
93$11,616,931$817,769$0$3,597,517
94$12,719,868$775,849$0$3,867,862
95$13,932,722$729,293$0$4,178,452
96$15,266,623$677,792$0$4,519,933
97$16,733,833$621,019$0$4,895,523
98$18,347,865$558,629$0$5,308,773
99$20,123,604$490,259$0$5,763,604
100$22,077,453$415,522$0$6,264,343