Can I retire at age 62 with 876,000?

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 $876,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$72,339$71,695$71,066$70,453$69,853$68,781
2 years$35,812$35,145$34,498$33,871$33,264$32,186
3 years$23,637$22,967$22,323$21,702$21,104$20,054
4 years$17,551$16,883$16,245$15,635$15,051$14,038
5 years$13,901$13,237$12,607$12,009$11,442$10,468
6 years$11,468$10,809$10,188$9,604$9,054$8,120
7 years$9,730$9,077$8,466$7,896$7,363$6,469
8 years$8,428$7,781$7,180$6,624$6,108$5,255
9 years$7,416$6,775$6,184$5,642$5,144$4,331
10 years$6,606$5,972$5,392$4,863$4,383$3,609
11 years$5,945$5,316$4,747$4,233$3,770$3,034
12 years$5,394$4,771$4,213$3,713$3,267$2,569
13 years$4,928$4,312$3,764$3,278$2,849$2,188
14 years$4,529$3,919$3,382$2,909$2,497$1,872
15 years$4,183$3,581$3,053$2,595$2,199$1,608
16 years$3,881$3,285$2,768$2,323$1,943$1,385
17 years$3,615$3,025$2,519$2,087$1,723$1,197
18 years$3,378$2,796$2,299$1,881$1,532$1,037
19 years$3,167$2,591$2,105$1,700$1,365$900
20 years$2,977$2,408$1,932$1,540$1,220$783
21 years$2,806$2,243$1,777$1,397$1,091$682
22 years$2,650$2,093$1,638$1,270$978$594
23 years$2,508$1,958$1,512$1,157$878$519
24 years$2,378$1,834$1,399$1,055$789$453
25 years$2,258$1,722$1,295$964$710$396
26 years$2,148$1,618$1,201$881$640$347
27 years$2,047$1,523$1,116$807$577$304
28 years$1,952$1,435$1,037$739$520$266
29 years$1,865$1,354$965$678$470$233
30 years$1,783$1,278$899$622$425$205
31 years$1,707$1,208$838$571$384$179
32 years$1,636$1,143$782$525$347$157
33 years$1,569$1,083$730$483$314$138
34 years$1,506$1,026$682$444$285$121
35 years$1,447$973$638$409$258$107
36 years$1,391$924$597$377$234$94
37 years$1,339$878$558$347$212$82
38 years$1,289$834$523$320$192$72
39 years$1,242$793$490$295$174$63
40 years$1,198$754$459$272$158$56
41 years$1,155$718$431$251$143$49
42 years$1,115$684$404$232$130$43
43 years$1,077$652$379$214$118$38
44 years$1,041$621$356$197$107$33
45 years$1,006$592$334$182$97$29
46 years$973$565$314$168$88$26
47 years$942$539$295$156$80$23
48 years$912$515$277$144$73$20
49 years$883$492$260$133$66$17
50 years$855$470$245$123$60$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $876,000, adding $4,530 every year, while hoping to spend $30,041 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: 56/30/14 Blend
61$876,000$876,000$876,000$876,000
62$970,025$923,597$910,019$1,020,591
63$1,037,004$936,890$908,541$1,068,697
64$1,109,808$949,827$906,007$1,117,408
65$1,189,000$962,360$902,349$1,169,773
66$1,275,197$974,435$897,498$1,226,148
67$1,369,083$985,997$891,379$1,286,924
68$1,471,404$996,986$883,915$1,352,534
69$1,582,987$1,007,338$875,026$1,423,455
70$1,704,738$1,016,984$864,626$1,500,214
71$1,837,657$1,025,852$852,626$1,583,391
72$1,982,843$1,033,864$838,934$1,673,627
73$2,141,507$1,040,937$823,453$1,771,630
74$2,314,982$1,046,985$806,080$1,878,179
75$2,504,735$1,051,912$786,708$1,994,136
76$2,712,382$1,055,620$765,227$2,120,449
77$2,939,703$1,058,002$741,520$2,258,168
78$3,188,655$1,058,948$715,464$2,408,448
79$3,461,398$1,058,336$686,932$2,572,565
80$3,760,307$1,056,041$655,790$2,751,926
81$4,087,998$1,051,927$621,899$2,948,083
82$4,447,355$1,045,852$585,114$3,162,750
83$4,841,551$1,037,664$545,281$3,397,815
84$5,274,082$1,027,203$502,241$3,655,362
85$5,748,801$1,014,299$455,828$3,937,692
86$6,269,949$998,769$405,869$4,247,340
87$6,842,199$980,425$352,181$4,587,103
88$7,470,700$959,062$294,575$4,960,067
89$8,161,121$934,466$232,854$5,369,636
90$8,919,710$906,409$166,809$5,819,564
91$9,753,349$874,652$96,226$6,313,991
92$10,669,620$838,939$20,879$6,857,483
93$11,676,876$799,002$0$7,455,076
94$12,784,319$754,554$0$8,121,217
95$14,002,087$705,295$0$8,857,045
96$15,341,352$650,907$0$9,666,231
97$16,814,419$591,051$0$10,556,263
98$18,434,850$525,372$0$11,535,397
99$20,217,583$453,494$0$12,612,734
100$22,179,080$375,019$0$13,798,307