Can I retire at age 62 with 870,000?

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 $870,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.4%
1 years$71,844$71,204$70,579$69,970$69,375$66,754
2 years$35,566$34,904$34,262$33,639$33,036$30,426
3 years$23,475$22,810$22,170$21,553$20,959$18,442
4 years$17,431$16,768$16,134$15,528$14,948$12,543
5 years$13,805$13,146$12,521$11,927$11,363$9,077
6 years$11,389$10,735$10,118$9,538$8,992$6,825
7 years$9,664$9,015$8,408$7,842$7,313$5,265
8 years$8,371$7,728$7,131$6,578$6,066$4,136
9 years$7,365$6,728$6,142$5,603$5,109$3,293
10 years$6,561$5,931$5,355$4,830$4,353$2,649
11 years$5,904$5,280$4,714$4,204$3,744$2,147
12 years$5,357$4,739$4,184$3,687$3,244$1,751
13 years$4,894$4,282$3,738$3,255$2,829$1,435
14 years$4,498$3,893$3,359$2,890$2,480$1,181
15 years$4,154$3,556$3,032$2,577$2,183$974
16 years$3,854$3,263$2,749$2,307$1,930$806
17 years$3,590$3,005$2,502$2,073$1,711$668
18 years$3,355$2,776$2,284$1,868$1,521$555
19 years$3,145$2,573$2,091$1,688$1,356$462
20 years$2,957$2,391$1,919$1,529$1,211$385
21 years$2,786$2,227$1,765$1,388$1,084$320
22 years$2,632$2,079$1,627$1,262$972$267
23 years$2,491$1,945$1,502$1,149$872$223
24 years$2,362$1,822$1,389$1,048$784$186
25 years$2,243$1,710$1,286$957$705$156
26 years$2,134$1,607$1,193$875$635$130
27 years$2,033$1,512$1,108$801$573$109
28 years$1,939$1,425$1,030$734$517$91
29 years$1,852$1,344$958$673$467$76
30 years$1,771$1,270$893$618$422$64
31 years$1,695$1,200$832$567$381$53
32 years$1,624$1,136$777$521$345$45
33 years$1,558$1,075$725$479$312$37
34 years$1,496$1,019$677$441$283$31
35 years$1,437$967$633$406$256$26
36 years$1,382$918$593$374$232$22
37 years$1,330$872$555$345$210$18
38 years$1,280$828$519$318$191$15
39 years$1,234$788$487$293$173$13
40 years$1,189$749$456$270$157$11
41 years$1,147$713$428$249$142$9
42 years$1,108$679$401$230$129$8
43 years$1,070$647$376$212$117$6
44 years$1,034$617$353$196$106$5
45 years$999$588$332$181$97$4
46 years$967$561$312$167$88$4
47 years$935$536$293$154$80$3
48 years$905$511$275$143$72$3
49 years$877$488$259$132$66$2
50 years$849$466$243$122$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $870,000, adding $3,005 every year, while hoping to spend $52,560 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: 53/31/16 Blend
61$870,000$870,000$870,000$870,000
62$961,840$915,730$902,245$1,008,522
63$1,004,024$904,677$876,546$1,029,720
64$1,048,749$891,321$848,226$1,046,948
65$1,096,220$875,494$817,139$1,064,521
66$1,146,658$857,017$783,137$1,082,489
67$1,200,307$835,701$746,062$1,100,905
68$1,257,434$811,346$705,751$1,119,834
69$1,318,331$783,741$662,033$1,139,349
70$1,383,318$752,661$614,728$1,159,534
71$1,452,745$717,870$563,650$1,180,487
72$1,526,996$679,116$508,603$1,202,317
73$1,606,491$636,135$449,383$1,225,151
74$1,691,693$588,645$385,777$1,249,132
75$1,783,107$536,350$317,562$1,274,423
76$1,881,290$478,938$244,507$1,301,208
77$1,986,852$416,075$166,367$1,329,696
78$2,100,461$347,413$82,891$1,360,121
79$2,222,853$272,582$0$1,392,751
80$2,354,836$191,190$0$1,428,940
81$2,497,297$102,826$0$1,483,140
82$2,651,210$7,053$0$1,541,611
83$2,817,646$0$0$1,604,828
84$2,997,784$0$0$1,706,271
85$3,192,916$0$0$1,818,835
86$3,404,468$0$0$1,940,944
87$3,634,002$0$0$2,073,510
88$3,883,240$0$0$2,217,538
89$4,154,076$0$0$2,374,131
90$4,448,592$0$0$2,544,505
91$4,769,078$0$0$2,729,996
92$5,118,056$0$0$2,932,074
93$5,498,300$0$0$3,152,357
94$5,912,861$0$0$3,392,628
95$6,365,101$0$0$3,654,847
96$6,858,717$0$0$3,941,172
97$7,397,779$0$0$4,253,977
98$7,986,769$0$0$4,595,880
99$8,630,620$0$0$4,969,758
100$9,334,764$0$0$5,378,782