Can I retire at age 62 with 871,000?

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 $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%13.3%
1 years$71,926$71,286$70,661$70,051$69,455$68,502
2 years$35,607$34,944$34,301$33,678$33,074$32,115
3 years$23,502$22,836$22,195$21,578$20,983$20,049
4 years$17,451$16,787$16,152$15,546$14,965$14,063
5 years$13,821$13,161$12,535$11,941$11,377$10,508
6 years$11,402$10,747$10,130$9,549$9,002$8,169
7 years$9,675$9,025$8,418$7,851$7,321$6,523
8 years$8,380$7,736$7,139$6,586$6,073$5,311
9 years$7,374$6,736$6,149$5,610$5,115$4,387
10 years$6,569$5,937$5,361$4,836$4,358$3,665
11 years$5,911$5,286$4,720$4,208$3,748$3,089
12 years$5,363$4,744$4,189$3,691$3,248$2,622
13 years$4,900$4,287$3,742$3,259$2,832$2,239
14 years$4,503$3,897$3,362$2,893$2,483$1,920
15 years$4,159$3,560$3,036$2,580$2,186$1,654
16 years$3,859$3,266$2,752$2,310$1,932$1,429
17 years$3,594$3,008$2,505$2,076$1,713$1,239
18 years$3,359$2,780$2,286$1,870$1,523$1,076
19 years$3,149$2,576$2,093$1,690$1,358$937
20 years$2,960$2,394$1,921$1,531$1,213$817
21 years$2,790$2,230$1,767$1,389$1,085$714
22 years$2,635$2,081$1,628$1,263$973$624
23 years$2,494$1,947$1,504$1,150$873$546
24 years$2,364$1,824$1,391$1,049$785$479
25 years$2,246$1,712$1,288$958$706$420
26 years$2,136$1,609$1,194$876$636$369
27 years$2,035$1,514$1,109$802$574$324
28 years$1,941$1,427$1,031$735$518$285
29 years$1,854$1,346$960$674$467$250
30 years$1,773$1,271$894$618$422$220
31 years$1,697$1,202$833$568$382$194
32 years$1,626$1,137$777$522$345$171
33 years$1,560$1,077$726$480$313$150
34 years$1,497$1,020$678$442$283$132
35 years$1,439$968$634$407$256$117
36 years$1,383$919$593$374$232$103
37 years$1,331$873$555$345$210$91
38 years$1,282$829$520$318$191$80
39 years$1,235$788$487$293$173$70
40 years$1,191$750$457$270$157$62
41 years$1,149$714$428$249$142$55
42 years$1,109$680$402$230$129$48
43 years$1,071$648$377$213$117$43
44 years$1,035$618$354$196$106$38
45 years$1,000$589$332$181$97$33
46 years$968$562$312$167$88$29
47 years$936$536$293$155$80$26
48 years$906$512$275$143$72$23
49 years$878$489$259$132$66$20
50 years$850$467$243$122$60$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $871,000, adding $5,068 every year, while hoping to spend $27,302 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: 52/22/26 Blend
61$871,000$871,000$871,000$871,000
62$965,070$918,907$905,406$1,008,001
63$1,034,458$934,884$906,688$1,054,281
64$1,110,008$950,729$907,098$1,101,408
65$1,192,321$966,407$906,578$1,152,123
66$1,282,056$981,879$905,066$1,206,780
67$1,379,940$997,105$902,500$1,265,769
68$1,486,772$1,012,042$898,812$1,329,519
69$1,603,432$1,026,641$893,932$1,398,505
70$1,730,890$1,040,854$887,786$1,473,252
71$1,870,211$1,054,627$880,298$1,554,338
72$2,022,570$1,067,901$871,385$1,642,399
73$2,189,261$1,080,616$860,965$1,738,142
74$2,371,706$1,092,707$848,948$1,842,341
75$2,571,473$1,104,103$835,241$1,955,856
76$2,790,289$1,114,730$819,747$2,079,632
77$3,030,055$1,124,508$802,365$2,214,712
78$3,292,864$1,133,352$782,988$2,362,249
79$3,581,023$1,141,173$761,504$2,523,513
80$3,897,070$1,147,874$737,798$2,699,907
81$4,243,805$1,153,353$711,748$2,892,977
82$4,624,307$1,157,501$683,225$3,104,429
83$5,041,971$1,160,204$652,098$3,336,146
84$5,500,535$1,161,337$618,226$3,590,205
85$6,004,118$1,160,770$581,465$3,868,896
86$6,557,256$1,158,366$541,662$4,174,747
87$7,164,946$1,153,976$498,658$4,510,545
88$7,832,694$1,147,445$452,287$4,879,363
89$8,566,566$1,138,607$402,376$5,284,594
90$9,373,244$1,127,286$348,743$5,729,977
91$10,260,088$1,113,297$291,199$6,219,637
92$11,235,210$1,096,441$229,548$6,758,123
93$12,307,546$1,076,511$163,581$7,350,451
94$13,486,939$1,053,283$93,085$8,002,155
95$14,784,237$1,026,524$17,833$8,719,336
96$16,211,390$995,986$0$9,508,722
97$17,781,568$961,404$0$10,395,064
98$19,509,276$922,502$0$11,375,617
99$21,410,501$878,983$0$12,454,520
100$23,502,857$830,538$0$13,641,795