Can I retire at age 62 with 872,000?

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 $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%16.2%
1 years$72,009$71,368$70,742$70,131$69,535$67,771
2 years$35,648$34,984$34,341$33,717$33,112$31,346
3 years$23,529$22,862$22,221$21,603$21,007$19,296
4 years$17,471$16,806$16,171$15,564$14,983$13,338
5 years$13,837$13,176$12,549$11,954$11,390$9,816
6 years$11,415$10,760$10,142$9,560$9,012$7,511
7 years$9,686$9,036$8,428$7,860$7,329$5,901
8 years$8,390$7,745$7,147$6,593$6,080$4,724
9 years$7,382$6,744$6,156$5,616$5,121$3,836
10 years$6,576$5,944$5,367$4,841$4,363$3,148
11 years$5,918$5,292$4,725$4,213$3,752$2,605
12 years$5,369$4,750$4,193$3,696$3,252$2,170
13 years$4,905$4,292$3,746$3,263$2,836$1,817
14 years$4,508$3,902$3,366$2,896$2,486$1,529
15 years$4,164$3,564$3,039$2,583$2,189$1,290
16 years$3,863$3,270$2,756$2,313$1,934$1,093
17 years$3,598$3,012$2,507$2,078$1,715$927
18 years$3,363$2,783$2,289$1,873$1,525$789
19 years$3,153$2,579$2,095$1,692$1,359$672
20 years$2,964$2,397$1,923$1,533$1,214$574
21 years$2,793$2,232$1,769$1,391$1,086$490
22 years$2,638$2,084$1,630$1,265$974$419
23 years$2,496$1,949$1,505$1,152$874$359
24 years$2,367$1,826$1,392$1,050$786$307
25 years$2,248$1,714$1,289$959$707$263
26 years$2,139$1,611$1,196$877$637$226
27 years$2,037$1,516$1,110$803$574$194
28 years$1,943$1,428$1,032$736$518$166
29 years$1,856$1,347$961$675$468$143
30 years$1,775$1,272$895$619$423$123
31 years$1,699$1,203$834$569$382$106
32 years$1,628$1,138$778$523$346$91
33 years$1,562$1,078$727$481$313$78
34 years$1,499$1,022$679$442$283$67
35 years$1,440$969$635$407$257$58
36 years$1,385$920$594$375$232$50
37 years$1,333$874$556$345$211$43
38 years$1,283$830$521$318$191$37
39 years$1,236$789$488$294$173$32
40 years$1,192$751$457$271$157$27
41 years$1,150$715$429$250$143$23
42 years$1,110$681$402$231$129$20
43 years$1,072$649$377$213$117$17
44 years$1,036$618$354$196$107$15
45 years$1,002$590$333$181$97$13
46 years$969$563$312$168$88$11
47 years$937$537$293$155$80$9
48 years$907$512$276$143$72$8
49 years$879$489$259$132$66$7
50 years$851$467$244$122$60$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $872,000, adding $6,427 every year, while hoping to spend $51,308 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: 33/49/18 Blend
61$872,000$872,000$872,000$872,000
62$967,573$921,357$907,841$993,918
63$1,011,675$911,913$883,663$1,004,503
64$1,058,554$900,285$856,955$1,010,716
65$1,108,442$886,315$827,578$1,016,325
66$1,161,589$869,830$795,387$1,021,307
67$1,218,269$850,650$760,231$1,025,641
68$1,278,784$828,583$721,950$1,029,308
69$1,343,464$803,427$680,379$1,032,293
70$1,412,669$774,967$635,344$1,034,586
71$1,486,797$742,976$586,664$1,036,180
72$1,566,282$707,214$534,148$1,037,074
73$1,651,601$667,425$477,601$1,037,275
74$1,743,278$623,343$416,814$1,036,796
75$1,841,887$574,681$351,572$1,035,661
76$1,948,059$521,140$281,649$1,033,902
77$2,062,488$462,402$206,811$1,031,565
78$2,185,933$398,132$126,810$1,028,708
79$2,319,231$327,973$41,392$1,025,405
80$2,463,302$251,553$0$1,021,748
81$2,619,154$168,474$0$1,027,408
82$2,787,897$78,319$0$1,042,065
83$2,970,753$0$0$1,057,979
84$3,169,063$0$0$1,085,832
85$3,384,301$0$0$1,162,007
86$3,618,092$0$0$1,244,862
87$3,872,220$0$0$1,335,045
88$4,148,650$0$0$1,433,268
89$4,449,541$0$0$1,540,314
90$4,777,271$0$0$1,657,046
91$5,134,458$0$0$1,784,412
92$5,523,979$0$0$1,923,457
93$5,949,004$0$0$2,075,332
94$6,413,022$0$0$2,241,302
95$6,919,872$0$0$2,422,761
96$7,473,781$0$0$2,621,244
97$8,079,404$0$0$2,838,439
98$8,741,863$0$0$3,076,209
99$9,466,803$0$0$3,336,600
100$10,260,434$0$0$3,621,870