Can I retire at age 62 with 873,000?

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 $873,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$72,092$71,449$70,823$70,211$69,614$68,265
2 years$35,689$35,024$34,380$33,755$33,150$31,795
3 years$23,556$22,889$22,246$21,627$21,031$19,715
4 years$17,491$16,826$16,190$15,581$15,000$13,731
5 years$13,853$13,191$12,564$11,968$11,403$10,185
6 years$11,428$10,772$10,153$9,571$9,023$7,858
7 years$9,697$9,046$8,437$7,869$7,338$6,226
8 years$8,399$7,754$7,156$6,601$6,087$5,028
9 years$7,390$6,751$6,163$5,623$5,126$4,119
10 years$6,584$5,951$5,373$4,847$4,368$3,412
11 years$5,924$5,298$4,730$4,218$3,757$2,850
12 years$5,375$4,755$4,198$3,700$3,255$2,398
13 years$4,911$4,297$3,751$3,266$2,839$2,028
14 years$4,513$3,906$3,370$2,900$2,488$1,724
15 years$4,169$3,568$3,043$2,586$2,191$1,470
16 years$3,868$3,274$2,759$2,315$1,936$1,258
17 years$3,602$3,015$2,510$2,080$1,717$1,080
18 years$3,367$2,786$2,292$1,875$1,527$929
19 years$3,156$2,582$2,098$1,694$1,361$800
20 years$2,967$2,399$1,925$1,534$1,215$690
21 years$2,796$2,235$1,771$1,392$1,088$597
22 years$2,641$2,086$1,632$1,266$975$516
23 years$2,499$1,951$1,507$1,153$875$447
24 years$2,370$1,828$1,394$1,052$787$388
25 years$2,251$1,716$1,291$960$708$336
26 years$2,141$1,612$1,197$878$638$292
27 years$2,040$1,517$1,112$804$575$254
28 years$1,946$1,430$1,033$736$519$220
29 years$1,858$1,349$962$675$468$192
30 years$1,777$1,274$896$620$423$167
31 years$1,701$1,204$835$569$383$145
32 years$1,630$1,140$779$523$346$126
33 years$1,563$1,079$728$481$313$110
34 years$1,501$1,023$680$443$284$96
35 years$1,442$970$636$407$257$83
36 years$1,387$921$595$375$233$73
37 years$1,334$875$556$346$211$63
38 years$1,285$831$521$319$191$55
39 years$1,238$790$488$294$173$48
40 years$1,194$752$458$271$157$42
41 years$1,151$716$429$250$143$36
42 years$1,111$682$403$231$129$32
43 years$1,073$649$378$213$118$28
44 years$1,037$619$355$197$107$24
45 years$1,003$590$333$182$97$21
46 years$970$563$313$168$88$18
47 years$938$537$294$155$80$16
48 years$908$513$276$143$73$14
49 years$880$490$259$132$66$12
50 years$852$468$244$122$60$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $873,000, adding $2,908 every year, while hoping to spend $53,467 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: 82/11/7 Blend
61$873,000$873,000$873,000$873,000
62$965,046$918,777$905,245$1,043,287
63$1,006,592$906,908$878,682$1,083,011
64$1,050,584$892,666$849,438$1,119,169
65$1,097,214$875,878$817,365$1,157,217
66$1,146,695$856,360$782,311$1,197,316
67$1,199,255$833,920$744,116$1,239,639
68$1,255,148$808,351$702,613$1,284,378
69$1,314,650$779,437$657,627$1,331,747
70$1,378,062$746,947$608,976$1,381,977
71$1,445,716$710,639$556,468$1,435,327
72$1,517,974$670,255$499,905$1,492,080
73$1,595,233$625,524$439,077$1,552,549
74$1,677,929$576,157$373,769$1,617,079
75$1,766,540$521,850$303,752$1,686,049
76$1,861,589$462,282$228,789$1,759,880
77$1,963,651$397,114$148,634$1,839,034
78$2,073,357$325,987$63,027$1,924,021
79$2,191,399$248,520$0$2,015,403
80$2,318,539$164,314$0$2,115,919
81$2,455,611$72,947$0$2,229,297
82$2,603,532$0$0$2,351,604
83$2,763,311$0$0$2,486,845
84$2,936,055$0$0$2,642,623
85$3,122,983$0$0$2,811,207
86$3,325,431$0$0$2,993,805
87$3,544,872$0$0$3,191,749
88$3,782,924$0$0$3,406,498
89$4,041,366$0$0$3,639,662
90$4,322,156$0$0$3,893,008
91$4,627,446$0$0$4,168,482
92$4,959,605$0$0$4,468,223
93$5,321,240$0$0$4,794,586
94$5,715,217$0$0$5,150,162
95$6,144,694$0$0$5,537,802
96$6,613,142$0$0$5,960,645
97$7,124,386$0$0$6,422,145
98$7,682,632$0$0$6,926,103
99$8,292,514$0$0$7,476,705
100$8,959,131$0$0$8,078,559