Can I retire at age 62 with 879,000?

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 $879,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$72,587$71,940$71,310$70,694$70,093$67,822
2 years$35,934$35,265$34,616$33,987$33,377$31,111
3 years$23,718$23,046$22,399$21,776$21,176$18,985
4 years$17,611$16,941$16,301$15,688$15,103$13,004
5 years$13,948$13,282$12,650$12,050$11,481$9,480
6 years$11,507$10,846$10,223$9,637$9,085$7,183
7 years$9,764$9,108$8,495$7,923$7,388$5,586
8 years$8,457$7,808$7,205$6,646$6,129$4,425
9 years$7,441$6,798$6,206$5,661$5,162$3,554
10 years$6,629$5,992$5,410$4,880$4,398$2,883
11 years$5,965$5,334$4,763$4,247$3,782$2,359
12 years$5,412$4,788$4,227$3,725$3,278$1,942
13 years$4,945$4,327$3,777$3,289$2,858$1,606
14 years$4,544$3,933$3,393$2,919$2,506$1,335
15 years$4,197$3,593$3,064$2,604$2,206$1,112
16 years$3,894$3,296$2,778$2,331$1,950$930
17 years$3,627$3,036$2,528$2,095$1,729$779
18 years$3,390$2,805$2,307$1,888$1,537$654
19 years$3,178$2,600$2,112$1,706$1,370$550
20 years$2,987$2,416$1,939$1,545$1,224$463
21 years$2,815$2,250$1,783$1,402$1,095$390
22 years$2,659$2,101$1,643$1,275$982$329
23 years$2,516$1,965$1,517$1,161$881$277
24 years$2,386$1,841$1,403$1,059$792$234
25 years$2,266$1,727$1,300$967$713$198
26 years$2,156$1,624$1,205$884$642$167
27 years$2,054$1,528$1,119$809$579$142
28 years$1,959$1,440$1,041$742$522$120
29 years$1,871$1,358$968$680$472$101
30 years$1,789$1,283$902$624$426$86
31 years$1,713$1,213$841$573$385$73
32 years$1,641$1,147$785$527$348$61
33 years$1,574$1,087$733$484$315$52
34 years$1,511$1,030$684$446$286$44
35 years$1,452$977$640$410$259$37
36 years$1,396$927$599$378$234$32
37 years$1,343$881$560$348$212$27
38 years$1,294$837$525$321$193$23
39 years$1,246$796$492$296$175$19
40 years$1,202$757$461$273$158$16
41 years$1,159$721$432$252$144$14
42 years$1,119$686$405$232$130$12
43 years$1,081$654$380$214$118$10
44 years$1,044$623$357$198$107$8
45 years$1,010$594$335$183$97$7
46 years$977$567$315$169$89$6
47 years$945$541$296$156$80$5
48 years$915$517$278$144$73$4
49 years$886$493$261$133$66$4
50 years$858$471$246$123$60$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $879,000, adding $5,453 every year, while hoping to spend $48,861 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: 28/49/23 Blend
61$879,000$879,000$879,000$879,000
62$974,283$927,696$914,071$994,410
63$1,021,672$921,165$892,705$1,004,069
64$1,072,257$912,677$868,985$1,009,775
65$1,126,313$902,084$842,782$1,014,883
66$1,184,140$889,229$813,958$1,019,372
67$1,246,068$873,947$782,371$1,023,225
68$1,312,458$856,062$747,873$1,026,429
69$1,383,709$835,388$710,306$1,028,973
70$1,460,254$811,729$669,508$1,030,852
71$1,542,572$784,877$625,309$1,032,066
72$1,631,188$754,609$577,530$1,032,620
73$1,726,678$720,694$525,986$1,032,530
74$1,829,675$682,883$470,482$1,031,817
75$1,940,874$640,917$410,816$1,030,513
76$2,061,039$594,518$346,774$1,028,662
77$2,191,011$543,394$278,137$1,026,320
78$2,331,711$487,238$204,671$1,023,559
79$2,484,155$425,722$126,138$1,020,467
80$2,649,459$358,503$42,283$1,017,151
81$2,828,849$285,215$0$1,013,740
82$3,023,675$205,474$0$1,021,973
83$3,235,422$118,873$0$1,042,272
84$3,465,721$24,985$0$1,064,533
85$3,716,370$0$0$1,089,077
86$3,989,345$0$0$1,157,594
87$4,286,822$0$0$1,247,073
88$4,611,194$0$0$1,344,778
89$4,965,096$0$0$1,451,519
90$5,351,428$0$0$1,568,190
91$5,773,383$0$0$1,695,772
92$6,234,475$0$0$1,835,348
93$6,738,572$0$0$1,988,109
94$7,289,935$0$0$2,155,366
95$7,893,254$0$0$2,338,565
96$8,553,694$0$0$2,539,296
97$9,276,941$0$0$2,759,310
98$10,069,259$0$0$3,000,537
99$10,937,544$0$0$3,265,102
100$11,889,393$0$0$3,555,347