Can I retire at age 62 with 871,000?

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 $871,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.6%
1 years$71,926$71,286$70,661$70,051$69,455$67,312
2 years$35,607$34,944$34,301$33,678$33,074$30,934
3 years$23,502$22,836$22,195$21,578$20,983$18,913
4 years$17,451$16,787$16,152$15,546$14,965$12,981
5 years$13,821$13,161$12,535$11,941$11,377$9,483
6 years$11,402$10,747$10,130$9,549$9,002$7,201
7 years$9,675$9,025$8,418$7,851$7,321$5,613
8 years$8,380$7,736$7,139$6,586$6,073$4,457
9 years$7,374$6,736$6,149$5,610$5,115$3,588
10 years$6,569$5,937$5,361$4,836$4,358$2,919
11 years$5,911$5,286$4,720$4,208$3,748$2,394
12 years$5,363$4,744$4,189$3,691$3,248$1,976
13 years$4,900$4,287$3,742$3,259$2,832$1,639
14 years$4,503$3,897$3,362$2,893$2,483$1,365
15 years$4,159$3,560$3,036$2,580$2,186$1,141
16 years$3,859$3,266$2,752$2,310$1,932$957
17 years$3,594$3,008$2,505$2,076$1,713$804
18 years$3,359$2,780$2,286$1,870$1,523$677
19 years$3,149$2,576$2,093$1,690$1,358$571
20 years$2,960$2,394$1,921$1,531$1,213$482
21 years$2,790$2,230$1,767$1,389$1,085$407
22 years$2,635$2,081$1,628$1,263$973$344
23 years$2,494$1,947$1,504$1,150$873$292
24 years$2,364$1,824$1,391$1,049$785$247
25 years$2,246$1,712$1,288$958$706$209
26 years$2,136$1,609$1,194$876$636$178
27 years$2,035$1,514$1,109$802$574$151
28 years$1,941$1,427$1,031$735$518$128
29 years$1,854$1,346$960$674$467$109
30 years$1,773$1,271$894$618$422$92
31 years$1,697$1,202$833$568$382$78
32 years$1,626$1,137$777$522$345$67
33 years$1,560$1,077$726$480$313$57
34 years$1,497$1,020$678$442$283$48
35 years$1,439$968$634$407$256$41
36 years$1,383$919$593$374$232$35
37 years$1,331$873$555$345$210$29
38 years$1,282$829$520$318$191$25
39 years$1,235$788$487$293$173$21
40 years$1,191$750$457$270$157$18
41 years$1,149$714$428$249$142$15
42 years$1,109$680$402$230$129$13
43 years$1,071$648$377$213$117$11
44 years$1,035$618$354$196$106$9
45 years$1,000$589$332$181$97$8
46 years$968$562$312$167$88$7
47 years$936$536$293$155$80$6
48 years$906$512$275$143$72$5
49 years$878$489$259$132$66$4
50 years$850$467$243$122$60$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $871,000, adding $5,889 every year, while hoping to spend $54,468 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: 57/32/11 Blend
61$871,000$871,000$871,000$871,000
62$965,917$919,754$906,253$1,018,030
63$1,006,486$906,868$878,659$1,041,014
64$1,049,369$891,525$848,315$1,059,492
65$1,094,743$873,548$815,071$1,078,325
66$1,142,802$852,747$778,772$1,097,554
67$1,193,760$828,924$739,253$1,117,228
68$1,247,848$801,867$696,343$1,137,403
69$1,305,323$771,352$649,864$1,158,143
70$1,366,460$737,143$599,629$1,179,522
71$1,431,566$698,989$545,443$1,201,626
72$1,500,972$656,626$487,103$1,224,551
73$1,575,045$609,775$424,394$1,248,410
74$1,654,184$558,138$357,096$1,273,329
75$1,738,827$501,403$284,975$1,299,452
76$1,829,455$439,240$207,789$1,326,943
77$1,926,596$371,299$125,286$1,355,986
78$2,030,826$297,210$37,201$1,386,792
79$2,142,781$216,584$0$1,419,596
80$2,263,157$129,009$0$1,461,333
81$2,392,719$34,050$0$1,510,728
82$2,532,305$0$0$1,563,783
83$2,682,838$0$0$1,645,126
84$2,845,332$0$0$1,745,932
85$3,020,898$0$0$1,854,910
86$3,210,760$0$0$1,972,827
87$3,416,263$0$0$2,100,526
88$3,638,884$0$0$2,238,935
89$3,880,249$0$0$2,389,071
90$4,142,144$0$0$2,552,058
91$4,426,534$0$0$2,729,127
92$4,735,583$0$0$2,921,634
93$5,071,666$0$0$3,131,073
94$5,437,402$0$0$3,359,085
95$5,835,668$0$0$3,607,476
96$6,269,632$0$0$3,878,235
97$6,742,780$0$0$4,173,549
98$7,258,949$0$0$4,495,827
99$7,822,363$0$0$4,847,720
100$8,437,669$0$0$5,232,145