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%14.9%
1 years$72,339$71,695$71,066$70,453$69,853$68,443
2 years$35,812$35,145$34,498$33,871$33,264$31,849
3 years$23,637$22,967$22,323$21,702$21,104$19,729
4 years$17,551$16,883$16,245$15,635$15,051$13,727
5 years$13,901$13,237$12,607$12,009$11,442$10,171
6 years$11,468$10,809$10,188$9,604$9,054$7,838
7 years$9,730$9,077$8,466$7,896$7,363$6,204
8 years$8,428$7,781$7,180$6,624$6,108$5,004
9 years$7,416$6,775$6,184$5,642$5,144$4,095
10 years$6,606$5,972$5,392$4,863$4,383$3,387
11 years$5,945$5,316$4,747$4,233$3,770$2,826
12 years$5,394$4,771$4,213$3,713$3,267$2,375
13 years$4,928$4,312$3,764$3,278$2,849$2,006
14 years$4,529$3,919$3,382$2,909$2,497$1,702
15 years$4,183$3,581$3,053$2,595$2,199$1,450
16 years$3,881$3,285$2,768$2,323$1,943$1,239
17 years$3,615$3,025$2,519$2,087$1,723$1,062
18 years$3,378$2,796$2,299$1,881$1,532$912
19 years$3,167$2,591$2,105$1,700$1,365$785
20 years$2,977$2,408$1,932$1,540$1,220$676
21 years$2,806$2,243$1,777$1,397$1,091$583
22 years$2,650$2,093$1,638$1,270$978$504
23 years$2,508$1,958$1,512$1,157$878$436
24 years$2,378$1,834$1,399$1,055$789$377
25 years$2,258$1,722$1,295$964$710$327
26 years$2,148$1,618$1,201$881$640$283
27 years$2,047$1,523$1,116$807$577$246
28 years$1,952$1,435$1,037$739$520$213
29 years$1,865$1,354$965$678$470$185
30 years$1,783$1,278$899$622$425$161
31 years$1,707$1,208$838$571$384$139
32 years$1,636$1,143$782$525$347$121
33 years$1,569$1,083$730$483$314$105
34 years$1,506$1,026$682$444$285$92
35 years$1,447$973$638$409$258$80
36 years$1,391$924$597$377$234$69
37 years$1,339$878$558$347$212$60
38 years$1,289$834$523$320$192$52
39 years$1,242$793$490$295$174$45
40 years$1,198$754$459$272$158$40
41 years$1,155$718$431$251$143$34
42 years$1,115$684$404$232$130$30
43 years$1,077$652$379$214$118$26
44 years$1,041$621$356$197$107$23
45 years$1,006$592$334$182$97$20
46 years$973$565$314$168$88$17
47 years$942$539$295$156$80$15
48 years$912$515$277$144$73$13
49 years$883$492$260$133$66$11
50 years$855$470$245$123$60$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $876,000, adding $2,456 every year, while hoping to spend $54,505 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: 67/26/7 Blend
61$876,000$876,000$876,000$876,000
62$967,885$921,457$907,879$1,031,416
63$1,008,617$908,616$880,300$1,061,041
64$1,051,676$893,318$849,971$1,086,620
65$1,097,243$875,387$816,741$1,113,126
66$1,145,514$854,633$780,454$1,140,643
67$1,196,704$830,858$740,947$1,169,263
68$1,251,047$803,849$698,048$1,199,090
69$1,308,800$773,384$651,578$1,230,238
70$1,370,243$739,226$601,352$1,262,838
71$1,435,684$701,124$547,174$1,297,033
72$1,505,459$658,814$488,839$1,332,986
73$1,579,936$612,015$426,135$1,370,877
74$1,659,518$560,433$358,839$1,410,906
75$1,744,648$503,754$286,720$1,453,300
76$1,835,812$441,646$209,534$1,498,307
77$1,933,539$373,762$127,028$1,546,208
78$2,038,415$299,732$38,939$1,597,313
79$2,151,080$219,165$0$1,651,970
80$2,272,236$131,649$0$1,714,677
81$2,402,654$36,751$0$1,785,122
82$2,543,183$0$0$1,860,894
83$2,694,753$0$0$1,961,428
84$2,858,386$0$0$2,081,356
85$3,035,206$0$0$2,210,992
86$3,226,447$0$0$2,351,248
87$3,433,467$0$0$2,503,123
88$3,657,758$0$0$2,667,720
89$3,900,959$0$0$2,846,247
90$4,164,876$0$0$3,040,037
91$4,451,492$0$0$3,250,552
92$4,762,989$0$0$3,479,404
93$5,101,768$0$0$3,728,363
94$5,470,471$0$0$3,999,380
95$5,872,004$0$0$4,294,597
96$6,309,564$0$0$4,616,376
97$6,786,673$0$0$4,967,314
98$7,307,202$0$0$5,350,270
99$7,875,417$0$0$5,768,390
100$8,496,011$0$0$6,225,139