Can I retire at age 62 with 873,000?

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 $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%13.2%
1 years$72,092$71,449$70,823$70,211$69,614$68,687
2 years$35,689$35,024$34,380$33,755$33,150$32,217
3 years$23,556$22,889$22,246$21,627$21,031$20,123
4 years$17,491$16,826$16,190$15,581$15,000$14,122
5 years$13,853$13,191$12,564$11,968$11,403$10,557
6 years$11,428$10,772$10,153$9,571$9,023$8,211
7 years$9,697$9,046$8,437$7,869$7,338$6,561
8 years$8,399$7,754$7,156$6,601$6,087$5,345
9 years$7,390$6,751$6,163$5,623$5,126$4,418
10 years$6,584$5,951$5,373$4,847$4,368$3,693
11 years$5,924$5,298$4,730$4,218$3,757$3,114
12 years$5,375$4,755$4,198$3,700$3,255$2,645
13 years$4,911$4,297$3,751$3,266$2,839$2,260
14 years$4,513$3,906$3,370$2,900$2,488$1,940
15 years$4,169$3,568$3,043$2,586$2,191$1,672
16 years$3,868$3,274$2,759$2,315$1,936$1,446
17 years$3,602$3,015$2,510$2,080$1,717$1,254
18 years$3,367$2,786$2,292$1,875$1,527$1,090
19 years$3,156$2,582$2,098$1,694$1,361$950
20 years$2,967$2,399$1,925$1,534$1,215$829
21 years$2,796$2,235$1,771$1,392$1,088$725
22 years$2,641$2,086$1,632$1,266$975$634
23 years$2,499$1,951$1,507$1,153$875$556
24 years$2,370$1,828$1,394$1,052$787$487
25 years$2,251$1,716$1,291$960$708$428
26 years$2,141$1,612$1,197$878$638$376
27 years$2,040$1,517$1,112$804$575$330
28 years$1,946$1,430$1,033$736$519$291
29 years$1,858$1,349$962$675$468$256
30 years$1,777$1,274$896$620$423$225
31 years$1,701$1,204$835$569$383$198
32 years$1,630$1,140$779$523$346$175
33 years$1,563$1,079$728$481$313$154
34 years$1,501$1,023$680$443$284$136
35 years$1,442$970$636$407$257$120
36 years$1,387$921$595$375$233$106
37 years$1,334$875$556$346$211$93
38 years$1,285$831$521$319$191$82
39 years$1,238$790$488$294$173$73
40 years$1,194$752$458$271$157$64
41 years$1,151$716$429$250$143$57
42 years$1,111$682$403$231$129$50
43 years$1,073$649$378$213$118$44
44 years$1,037$619$355$197$107$39
45 years$1,003$590$333$182$97$34
46 years$970$563$313$168$88$30
47 years$938$537$294$155$80$27
48 years$908$513$276$143$73$24
49 years$880$490$259$132$66$21
50 years$852$468$244$122$60$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $873,000, adding $3,890 every year, while hoping to spend $37,973 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: 43/44/13 Blend
61$873,000$873,000$873,000$873,000
62$966,059$919,790$906,258$1,003,795
63$1,024,194$924,456$896,215$1,035,246
64$1,086,986$928,079$884,562$1,065,196
65$1,154,870$930,566$871,207$1,096,809
66$1,228,324$931,822$856,049$1,130,254
67$1,307,873$931,741$838,988$1,165,717
68$1,394,096$930,217$819,914$1,203,409
69$1,487,628$927,131$798,714$1,243,561
70$1,589,167$922,361$775,272$1,286,432
71$1,699,481$915,776$749,463$1,332,309
72$1,819,416$907,237$721,158$1,381,511
73$1,949,903$896,598$690,223$1,434,394
74$2,091,963$883,701$656,516$1,491,350
75$2,246,723$868,383$619,889$1,552,819
76$2,415,423$850,467$580,189$1,619,284
77$2,599,425$829,769$537,255$1,691,287
78$2,800,231$806,092$490,917$1,769,423
79$3,019,492$779,229$441,000$1,854,358
80$3,259,027$748,958$387,321$1,946,827
81$3,520,839$715,048$329,688$2,047,644
82$3,807,132$677,252$267,899$2,157,716
83$4,120,332$635,310$201,746$2,278,042
84$4,463,112$588,947$131,011$2,409,734
85$4,838,414$537,870$55,465$2,554,020
86$5,249,480$481,773$0$2,712,263
87$5,699,877$420,330$0$2,889,458
88$6,193,535$353,197$0$3,092,224
89$6,734,783$280,011$0$3,314,742
90$7,328,388$200,388$0$3,559,093
91$7,979,600$113,924$0$3,827,578
92$8,694,202$20,189$0$4,122,739
93$9,478,566$0$0$4,447,388
94$10,339,708$0$0$4,843,976
95$11,285,357$0$0$5,290,330
96$12,324,030$0$0$5,780,709
97$13,465,105$0$0$6,319,555
98$14,718,917$0$0$6,911,764
99$16,096,849$0$0$7,562,729
100$17,611,443$0$0$8,278,389