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%15.4%
1 years$72,339$71,695$71,066$70,453$69,853$68,304
2 years$35,812$35,145$34,498$33,871$33,264$31,710
3 years$23,637$22,967$22,323$21,702$21,104$19,595
4 years$17,551$16,883$16,245$15,635$15,051$13,599
5 years$13,901$13,237$12,607$12,009$11,442$10,051
6 years$11,468$10,809$10,188$9,604$9,054$7,724
7 years$9,730$9,077$8,466$7,896$7,363$6,096
8 years$8,428$7,781$7,180$6,624$6,108$4,903
9 years$7,416$6,775$6,184$5,642$5,144$4,000
10 years$6,606$5,972$5,392$4,863$4,383$3,299
11 years$5,945$5,316$4,747$4,233$3,770$2,744
12 years$5,394$4,771$4,213$3,713$3,267$2,298
13 years$4,928$4,312$3,764$3,278$2,849$1,935
14 years$4,529$3,919$3,382$2,909$2,497$1,636
15 years$4,183$3,581$3,053$2,595$2,199$1,389
16 years$3,881$3,285$2,768$2,323$1,943$1,183
17 years$3,615$3,025$2,519$2,087$1,723$1,010
18 years$3,378$2,796$2,299$1,881$1,532$864
19 years$3,167$2,591$2,105$1,700$1,365$741
20 years$2,977$2,408$1,932$1,540$1,220$636
21 years$2,806$2,243$1,777$1,397$1,091$547
22 years$2,650$2,093$1,638$1,270$978$470
23 years$2,508$1,958$1,512$1,157$878$405
24 years$2,378$1,834$1,399$1,055$789$349
25 years$2,258$1,722$1,295$964$710$301
26 years$2,148$1,618$1,201$881$640$260
27 years$2,047$1,523$1,116$807$577$225
28 years$1,952$1,435$1,037$739$520$194
29 years$1,865$1,354$965$678$470$168
30 years$1,783$1,278$899$622$425$145
31 years$1,707$1,208$838$571$384$126
32 years$1,636$1,143$782$525$347$109
33 years$1,569$1,083$730$483$314$94
34 years$1,506$1,026$682$444$285$81
35 years$1,447$973$638$409$258$70
36 years$1,391$924$597$377$234$61
37 years$1,339$878$558$347$212$53
38 years$1,289$834$523$320$192$46
39 years$1,242$793$490$295$174$40
40 years$1,198$754$459$272$158$34
41 years$1,155$718$431$251$143$30
42 years$1,115$684$404$232$130$26
43 years$1,077$652$379$214$118$22
44 years$1,041$621$356$197$107$19
45 years$1,006$592$334$182$97$17
46 years$973$565$314$168$88$14
47 years$942$539$295$156$80$13
48 years$912$515$277$144$73$11
49 years$883$492$260$133$66$9
50 years$855$470$245$123$60$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $876,000, adding $2,640 every year, while hoping to spend $53,576 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: 84/5/11 Blend
61$876,000$876,000$876,000$876,000
62$968,075$921,647$908,069$1,047,452
63$1,009,814$909,803$881,485$1,087,930
64$1,054,015$895,584$852,215$1,124,937
65$1,100,873$878,815$820,112$1,163,953
66$1,150,599$859,314$785,022$1,205,147
67$1,203,426$836,887$746,787$1,248,706
68$1,259,609$811,328$705,238$1,294,836
69$1,319,426$782,420$660,200$1,343,764
70$1,383,182$749,932$611,491$1,395,738
71$1,451,209$713,622$558,919$1,451,033
72$1,523,874$673,231$502,284$1,509,952
73$1,601,577$628,487$441,379$1,572,827
74$1,684,757$579,102$375,984$1,640,025
75$1,773,896$524,772$305,873$1,711,951
76$1,869,521$465,174$230,808$1,789,049
77$1,972,214$399,968$150,541$1,871,811
78$2,082,608$328,796$64,813$1,960,777
79$2,201,404$251,276$0$2,056,543
80$2,329,368$167,009$0$2,162,896
81$2,467,341$75,571$0$2,285,753
82$2,616,250$0$0$2,418,331
83$2,777,110$0$0$2,562,838
84$2,951,040$0$0$2,723,593
85$3,139,266$0$0$2,897,574
86$3,343,139$0$0$3,086,031
87$3,564,142$0$0$3,290,337
88$3,803,907$0$0$3,512,002
89$4,064,230$0$0$3,752,688
90$4,347,084$0$0$4,014,221
91$4,654,640$0$0$4,298,611
92$4,989,288$0$0$4,608,070
93$5,353,657$0$0$4,945,031
94$5,750,637$0$0$5,312,169
95$6,183,414$0$0$5,712,433
96$6,655,489$0$0$6,149,063
97$7,170,719$0$0$6,625,630
98$7,733,348$0$0$7,146,062
99$8,348,049$0$0$7,714,682
100$9,019,964$0$0$8,336,254