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%11.9%
1 years$71,926$71,286$70,661$70,051$69,455$68,902
2 years$35,607$34,944$34,301$33,678$33,074$32,516
3 years$23,502$22,836$22,195$21,578$20,983$20,439
4 years$17,451$16,787$16,152$15,546$14,965$14,438
5 years$13,821$13,161$12,535$11,941$11,377$10,867
6 years$11,402$10,747$10,130$9,549$9,002$8,512
7 years$9,675$9,025$8,418$7,851$7,321$6,850
8 years$8,380$7,736$7,139$6,586$6,073$5,622
9 years$7,374$6,736$6,149$5,610$5,115$4,683
10 years$6,569$5,937$5,361$4,836$4,358$3,945
11 years$5,911$5,286$4,720$4,208$3,748$3,354
12 years$5,363$4,744$4,189$3,691$3,248$2,872
13 years$4,900$4,287$3,742$3,259$2,832$2,475
14 years$4,503$3,897$3,362$2,893$2,483$2,143
15 years$4,159$3,560$3,036$2,580$2,186$1,863
16 years$3,859$3,266$2,752$2,310$1,932$1,626
17 years$3,594$3,008$2,505$2,076$1,713$1,423
18 years$3,359$2,780$2,286$1,870$1,523$1,249
19 years$3,149$2,576$2,093$1,690$1,358$1,098
20 years$2,960$2,394$1,921$1,531$1,213$967
21 years$2,790$2,230$1,767$1,389$1,085$854
22 years$2,635$2,081$1,628$1,263$973$755
23 years$2,494$1,947$1,504$1,150$873$668
24 years$2,364$1,824$1,391$1,049$785$592
25 years$2,246$1,712$1,288$958$706$525
26 years$2,136$1,609$1,194$876$636$466
27 years$2,035$1,514$1,109$802$574$414
28 years$1,941$1,427$1,031$735$518$368
29 years$1,854$1,346$960$674$467$327
30 years$1,773$1,271$894$618$422$291
31 years$1,697$1,202$833$568$382$259
32 years$1,626$1,137$777$522$345$231
33 years$1,560$1,077$726$480$313$206
34 years$1,497$1,020$678$442$283$183
35 years$1,439$968$634$407$256$163
36 years$1,383$919$593$374$232$146
37 years$1,331$873$555$345$210$130
38 years$1,282$829$520$318$191$116
39 years$1,235$788$487$293$173$103
40 years$1,191$750$457$270$157$92
41 years$1,149$714$428$249$142$82
42 years$1,109$680$402$230$129$74
43 years$1,071$648$377$213$117$66
44 years$1,035$618$354$196$106$59
45 years$1,000$589$332$181$97$52
46 years$968$562$312$167$88$47
47 years$936$536$293$155$80$42
48 years$906$512$275$143$72$37
49 years$878$489$259$132$66$33
50 years$850$467$243$122$60$30

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $871,000, adding $3,766 every year, while hoping to spend $47,332 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: 51/22/27 Blend
61$871,000$871,000$871,000$871,000
62$963,727$917,564$904,063$1,005,384
63$1,011,666$912,163$883,988$1,029,376
64$1,062,909$904,912$861,655$1,050,384
65$1,117,742$895,669$836,937$1,072,288
66$1,176,480$884,286$809,702$1,095,195
67$1,239,468$870,603$779,815$1,119,223
68$1,307,086$854,454$747,130$1,144,507
69$1,379,747$835,662$711,498$1,171,198
70$1,457,910$814,037$672,762$1,199,464
71$1,542,074$789,382$630,757$1,229,497
72$1,632,790$761,486$585,311$1,261,508
73$1,730,661$730,126$536,246$1,295,735
74$1,836,353$695,066$483,374$1,332,447
75$1,950,593$656,057$426,500$1,371,939
76$2,074,185$612,835$365,419$1,414,546
77$2,208,008$565,120$299,917$1,460,639
78$2,353,033$512,619$229,772$1,510,632
79$2,510,324$455,019$154,751$1,564,987
80$2,681,053$391,991$74,611$1,624,219
81$2,866,509$323,187$0$1,688,902
82$3,068,109$248,240$0$1,762,817
83$3,287,413$166,760$0$1,866,674
84$3,526,136$78,338$0$1,979,823
85$3,786,166$0$0$2,103,227
86$4,069,580$0$0$2,242,172
87$4,378,665$0$0$2,414,466
88$4,715,937$0$0$2,602,557
89$5,084,167$0$0$2,808,001
90$5,486,403$0$0$3,032,510
91$5,926,002$0$0$3,277,968
92$6,406,660$0$0$3,546,452
93$6,932,446$0$0$3,840,246
94$7,507,839$0$0$4,161,866
95$8,137,773$0$0$4,514,085
96$8,827,681$0$0$4,899,952
97$9,583,544$0$0$5,322,829
98$10,411,953$0$0$5,786,417
99$11,320,161$0$0$6,294,791
100$12,316,162$0$0$6,852,442