Can I retire at age 62 with 872,000?

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 $872,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$72,009$71,368$70,742$70,131$69,535$69,183
2 years$35,648$34,984$34,341$33,717$33,112$32,757
3 years$23,529$22,862$22,221$21,603$21,007$20,661
4 years$17,471$16,806$16,171$15,564$14,983$14,646
5 years$13,837$13,176$12,549$11,954$11,390$11,065
6 years$11,415$10,760$10,142$9,560$9,012$8,699
7 years$9,686$9,036$8,428$7,860$7,329$7,028
8 years$8,390$7,745$7,147$6,593$6,080$5,791
9 years$7,382$6,744$6,156$5,616$5,121$4,843
10 years$6,576$5,944$5,367$4,841$4,363$4,098
11 years$5,918$5,292$4,725$4,213$3,752$3,499
12 years$5,369$4,750$4,193$3,696$3,252$3,009
13 years$4,905$4,292$3,746$3,263$2,836$2,604
14 years$4,508$3,902$3,366$2,896$2,486$2,265
15 years$4,164$3,564$3,039$2,583$2,189$1,979
16 years$3,863$3,270$2,756$2,313$1,934$1,735
17 years$3,598$3,012$2,507$2,078$1,715$1,526
18 years$3,363$2,783$2,289$1,873$1,525$1,345
19 years$3,153$2,579$2,095$1,692$1,359$1,189
20 years$2,964$2,397$1,923$1,533$1,214$1,053
21 years$2,793$2,232$1,769$1,391$1,086$934
22 years$2,638$2,084$1,630$1,265$974$830
23 years$2,496$1,949$1,505$1,152$874$738
24 years$2,367$1,826$1,392$1,050$786$658
25 years$2,248$1,714$1,289$959$707$587
26 years$2,139$1,611$1,196$877$637$523
27 years$2,037$1,516$1,110$803$574$468
28 years$1,943$1,428$1,032$736$518$418
29 years$1,856$1,347$961$675$468$374
30 years$1,775$1,272$895$619$423$335
31 years$1,699$1,203$834$569$382$300
32 years$1,628$1,138$778$523$346$268
33 years$1,562$1,078$727$481$313$240
34 years$1,499$1,022$679$442$283$216
35 years$1,440$969$635$407$257$193
36 years$1,385$920$594$375$232$173
37 years$1,333$874$556$345$211$156
38 years$1,283$830$521$318$191$140
39 years$1,236$789$488$294$173$125
40 years$1,192$751$457$271$157$113
41 years$1,150$715$429$250$143$101
42 years$1,110$681$402$231$129$91
43 years$1,072$649$377$213$117$82
44 years$1,036$618$354$196$107$73
45 years$1,002$590$333$181$97$66
46 years$969$563$312$168$88$59
47 years$937$537$293$155$80$53
48 years$907$512$276$143$72$48
49 years$879$489$259$132$66$43
50 years$851$467$244$122$60$39

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $872,000, adding $2,457 every year, while hoping to spend $54,905 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: 35/38/27 Blend
61$872,000$872,000$872,000$872,000
62$963,478$917,262$903,746$989,278
63$1,003,335$903,790$875,603$995,289
64$1,045,416$887,817$844,677$996,640
65$1,089,892$869,163$810,817$997,030
66$1,136,946$847,637$773,865$996,411
67$1,186,780$823,037$733,655$994,733
68$1,239,614$795,148$690,015$991,949
69$1,295,688$763,744$642,764$988,009
70$1,355,265$728,584$591,713$982,868
71$1,418,633$689,416$536,666$976,480
72$1,486,106$645,969$477,417$968,802
73$1,558,028$597,961$413,750$959,793
74$1,634,777$545,092$345,441$949,418
75$1,716,767$487,043$272,255$937,644
76$1,804,449$423,480$193,948$924,444
77$1,898,321$354,049$110,263$909,796
78$1,998,927$278,375$20,934$893,688
79$2,106,864$196,062$0$876,114
80$2,222,789$106,694$0$878,513
81$2,347,420$9,829$0$887,298
82$2,481,548$0$0$896,552
83$2,626,040$0$0$946,134
84$2,781,848$0$0$1,004,128
85$2,950,019$0$0$1,066,823
86$3,131,703$0$0$1,134,662
87$3,328,163$0$0$1,208,130
88$3,540,788$0$0$1,287,760
89$3,771,105$0$0$1,374,138
90$4,020,793$0$0$1,467,911
91$4,291,698$0$0$1,569,788
92$4,585,851$0$0$1,680,548
93$4,905,483$0$0$1,801,052
94$5,253,051$0$0$1,932,243
95$5,631,259$0$0$2,075,161
96$6,043,079$0$0$2,230,950
97$6,491,785$0$0$2,400,870
98$6,980,976$0$0$2,586,306
99$7,514,616$0$0$2,788,784
100$8,097,066$0$0$3,009,983