Can I retire at age 62 with 877,000?

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 $877,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.6%
1 years$72,422$71,777$71,147$70,533$69,933$68,605
2 years$35,852$35,185$34,538$33,910$33,302$31,969
3 years$23,664$22,994$22,348$21,727$21,128$19,832
4 years$17,571$16,903$16,264$15,653$15,069$13,820
5 years$13,916$13,252$12,621$12,023$11,455$10,256
6 years$11,481$10,821$10,200$9,615$9,064$7,917
7 years$9,742$9,088$8,476$7,905$7,371$6,276
8 years$8,438$7,790$7,188$6,631$6,115$5,072
9 years$7,424$6,782$6,191$5,648$5,150$4,157
10 years$6,614$5,978$5,398$4,869$4,388$3,446
11 years$5,951$5,322$4,752$4,237$3,774$2,880
12 years$5,400$4,777$4,217$3,717$3,270$2,425
13 years$4,933$4,317$3,768$3,281$2,852$2,052
14 years$4,534$3,924$3,386$2,913$2,500$1,745
15 years$4,188$3,585$3,057$2,598$2,201$1,490
16 years$3,885$3,289$2,771$2,326$1,945$1,276
17 years$3,619$3,029$2,522$2,090$1,725$1,096
18 years$3,382$2,799$2,302$1,883$1,534$943
19 years$3,171$2,594$2,107$1,702$1,367$813
20 years$2,981$2,410$1,934$1,541$1,221$702
21 years$2,809$2,245$1,779$1,399$1,093$607
22 years$2,653$2,096$1,640$1,272$979$526
23 years$2,511$1,960$1,514$1,158$879$456
24 years$2,381$1,837$1,400$1,056$790$395
25 years$2,261$1,724$1,297$965$711$343
26 years$2,151$1,620$1,203$882$641$298
27 years$2,049$1,524$1,117$807$577$259
28 years$1,955$1,436$1,038$740$521$226
29 years$1,867$1,355$966$678$471$196
30 years$1,785$1,280$900$623$425$171
31 years$1,709$1,210$839$572$384$149
32 years$1,638$1,145$783$526$348$130
33 years$1,571$1,084$731$483$315$113
34 years$1,508$1,027$683$445$285$98
35 years$1,449$975$638$409$258$86
36 years$1,393$925$597$377$234$75
37 years$1,340$879$559$347$212$65
38 years$1,291$835$524$320$192$57
39 years$1,244$794$490$295$174$50
40 years$1,199$755$460$272$158$43
41 years$1,157$719$431$251$143$38
42 years$1,117$685$404$232$130$33
43 years$1,078$652$379$214$118$29
44 years$1,042$622$356$198$107$25
45 years$1,007$593$334$182$97$22
46 years$974$566$314$169$88$19
47 years$943$540$295$156$80$17
48 years$913$515$277$144$73$14
49 years$884$492$261$133$66$13
50 years$856$470$245$123$60$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $877,000, adding $4,634 every year, while hoping to spend $58,560 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: 72/11/17 Blend
61$877,000$877,000$877,000$877,000
62$971,234$924,753$911,159$1,037,005
63$1,007,992$907,758$879,376$1,064,296
64$1,046,538$887,969$844,565$1,086,646
65$1,086,990$865,184$806,563$1,109,608
66$1,129,480$839,196$765,200$1,133,231
67$1,174,150$809,779$720,298$1,157,573
68$1,221,155$776,700$671,669$1,182,695
69$1,270,662$739,707$619,119$1,208,668
70$1,322,854$698,538$562,445$1,235,572
71$1,377,932$652,913$501,433$1,263,495
72$1,436,112$602,537$435,862$1,292,537
73$1,497,632$547,098$365,500$1,322,809
74$1,562,751$486,266$290,105$1,354,437
75$1,631,751$419,693$209,423$1,387,561
76$1,704,942$347,010$123,191$1,422,336
77$1,782,661$267,828$31,132$1,458,939
78$1,865,277$181,736$0$1,497,563
79$1,953,195$88,301$0$1,550,601
80$2,046,856$0$0$1,612,941
81$2,146,746$0$0$1,680,822
82$2,253,395$0$0$1,764,733
83$2,367,384$0$0$1,854,445
84$2,489,350$0$0$1,950,464
85$2,619,992$0$0$2,053,343
86$2,760,077$0$0$2,163,690
87$2,910,444$0$0$2,282,171
88$3,072,018$0$0$2,409,516
89$3,245,811$0$0$2,546,530
90$3,432,935$0$0$2,694,094
91$3,634,611$0$0$2,853,175
92$3,852,180$0$0$3,024,837
93$4,087,117$0$0$3,210,249
94$4,341,042$0$0$3,410,695
95$4,615,733$0$0$3,627,585
96$4,913,147$0$0$3,862,472
97$5,235,437$0$0$4,117,061
98$5,584,965$0$0$4,393,228
99$5,964,335$0$0$4,693,034
100$6,376,406$0$0$5,018,749