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%15.8%
1 years$71,926$71,286$70,661$70,051$69,455$67,803
2 years$35,607$34,944$34,301$33,678$33,074$31,419
3 years$23,502$22,836$22,195$21,578$20,983$19,378
4 years$17,451$16,787$16,152$15,546$14,965$13,422
5 years$13,821$13,161$12,535$11,941$11,377$9,898
6 years$11,402$10,747$10,130$9,549$9,002$7,591
7 years$9,675$9,025$8,418$7,851$7,321$5,977
8 years$8,380$7,736$7,139$6,586$6,073$4,797
9 years$7,374$6,736$6,149$5,610$5,115$3,904
10 years$6,569$5,937$5,361$4,836$4,358$3,211
11 years$5,911$5,286$4,720$4,208$3,748$2,664
12 years$5,363$4,744$4,189$3,691$3,248$2,225
13 years$4,900$4,287$3,742$3,259$2,832$1,869
14 years$4,503$3,897$3,362$2,893$2,483$1,576
15 years$4,159$3,560$3,036$2,580$2,186$1,334
16 years$3,859$3,266$2,752$2,310$1,932$1,133
17 years$3,594$3,008$2,505$2,076$1,713$964
18 years$3,359$2,780$2,286$1,870$1,523$823
19 years$3,149$2,576$2,093$1,690$1,358$703
20 years$2,960$2,394$1,921$1,531$1,213$602
21 years$2,790$2,230$1,767$1,389$1,085$516
22 years$2,635$2,081$1,628$1,263$973$442
23 years$2,494$1,947$1,504$1,150$873$380
24 years$2,364$1,824$1,391$1,049$785$327
25 years$2,246$1,712$1,288$958$706$281
26 years$2,136$1,609$1,194$876$636$242
27 years$2,035$1,514$1,109$802$574$208
28 years$1,941$1,427$1,031$735$518$179
29 years$1,854$1,346$960$674$467$154
30 years$1,773$1,271$894$618$422$133
31 years$1,697$1,202$833$568$382$115
32 years$1,626$1,137$777$522$345$99
33 years$1,560$1,077$726$480$313$85
34 years$1,497$1,020$678$442$283$74
35 years$1,439$968$634$407$256$63
36 years$1,383$919$593$374$232$55
37 years$1,331$873$555$345$210$47
38 years$1,282$829$520$318$191$41
39 years$1,235$788$487$293$173$35
40 years$1,191$750$457$270$157$30
41 years$1,149$714$428$249$142$26
42 years$1,109$680$402$230$129$23
43 years$1,071$648$377$213$117$20
44 years$1,035$618$354$196$106$17
45 years$1,000$589$332$181$97$15
46 years$968$562$312$167$88$13
47 years$936$536$293$155$80$11
48 years$906$512$275$143$72$9
49 years$878$489$259$132$66$8
50 years$850$467$243$122$60$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $871,000, adding $5,426 every year, while hoping to spend $41,677 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: 51/36/13 Blend
61$871,000$871,000$871,000$871,000
62$965,439$919,276$905,775$1,011,033
63$1,019,570$919,976$891,775$1,043,535
64$1,077,825$919,314$875,909$1,073,997
65$1,140,581$917,179$858,070$1,106,171
66$1,208,253$913,453$838,147$1,140,230
67$1,281,294$908,011$816,024$1,176,367
68$1,360,203$900,722$791,579$1,214,795
69$1,445,531$891,444$764,683$1,255,754
70$1,537,879$880,028$735,204$1,299,509
71$1,637,911$866,318$703,002$1,346,353
72$1,746,356$850,146$667,931$1,396,615
73$1,864,016$831,335$629,838$1,450,657
74$1,991,773$809,698$588,565$1,508,884
75$2,130,596$785,035$543,944$1,571,742
76$2,281,553$757,137$495,802$1,639,729
77$2,445,816$725,782$443,957$1,713,397
78$2,624,678$690,734$388,218$1,793,356
79$2,819,560$651,745$328,388$1,880,286
80$3,032,026$608,551$264,259$1,974,937
81$3,263,796$560,873$195,615$2,078,145
82$3,516,766$508,419$122,231$2,190,831
83$3,793,020$450,876$43,870$2,314,019
84$4,094,855$387,916$0$2,448,843
85$4,424,799$319,192$0$2,602,071
86$4,785,633$244,337$0$2,776,432
87$5,180,421$162,963$0$2,967,409
88$5,612,537$74,662$0$3,176,744
89$6,085,697$0$0$3,406,360
90$6,603,989$0$0$3,666,704
91$7,171,921$0$0$3,984,479
92$7,794,453$0$0$4,332,897
93$8,477,050$0$0$4,715,026
94$9,225,729$0$0$5,134,248
95$10,047,121$0$0$5,594,286
96$10,948,526$0$0$6,099,243
97$11,937,987$0$0$6,653,638
98$13,024,364$0$0$7,262,447
99$14,217,415$0$0$7,931,154
100$15,527,891$0$0$8,665,800