Can I retire at age 62 with 879,000?

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 $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%19.7%
1 years$72,587$71,940$71,310$70,694$70,093$67,365
2 years$35,934$35,265$34,616$33,987$33,377$30,662
3 years$23,718$23,046$22,399$21,776$21,176$18,559
4 years$17,611$16,941$16,301$15,688$15,103$12,604
5 years$13,948$13,282$12,650$12,050$11,481$9,106
6 years$11,507$10,846$10,223$9,637$9,085$6,835
7 years$9,764$9,108$8,495$7,923$7,388$5,264
8 years$8,457$7,808$7,205$6,646$6,129$4,128
9 years$7,441$6,798$6,206$5,661$5,162$3,281
10 years$6,629$5,992$5,410$4,880$4,398$2,634
11 years$5,965$5,334$4,763$4,247$3,782$2,131
12 years$5,412$4,788$4,227$3,725$3,278$1,734
13 years$4,945$4,327$3,777$3,289$2,858$1,418
14 years$4,544$3,933$3,393$2,919$2,506$1,164
15 years$4,197$3,593$3,064$2,604$2,206$959
16 years$3,894$3,296$2,778$2,331$1,950$792
17 years$3,627$3,036$2,528$2,095$1,729$655
18 years$3,390$2,805$2,307$1,888$1,537$543
19 years$3,178$2,600$2,112$1,706$1,370$450
20 years$2,987$2,416$1,939$1,545$1,224$374
21 years$2,815$2,250$1,783$1,402$1,095$311
22 years$2,659$2,101$1,643$1,275$982$259
23 years$2,516$1,965$1,517$1,161$881$216
24 years$2,386$1,841$1,403$1,059$792$180
25 years$2,266$1,727$1,300$967$713$150
26 years$2,156$1,624$1,205$884$642$125
27 years$2,054$1,528$1,119$809$579$104
28 years$1,959$1,440$1,041$742$522$87
29 years$1,871$1,358$968$680$472$73
30 years$1,789$1,283$902$624$426$61
31 years$1,713$1,213$841$573$385$51
32 years$1,641$1,147$785$527$348$42
33 years$1,574$1,087$733$484$315$35
34 years$1,511$1,030$684$446$286$29
35 years$1,452$977$640$410$259$25
36 years$1,396$927$599$378$234$21
37 years$1,343$881$560$348$212$17
38 years$1,294$837$525$321$193$14
39 years$1,246$796$492$296$175$12
40 years$1,202$757$461$273$158$10
41 years$1,159$721$432$252$144$8
42 years$1,119$686$405$232$130$7
43 years$1,081$654$380$214$118$6
44 years$1,044$623$357$198$107$5
45 years$1,010$594$335$183$97$4
46 years$977$567$315$169$89$3
47 years$945$541$296$156$80$3
48 years$915$517$278$144$73$2
49 years$886$493$261$133$66$2
50 years$858$471$246$123$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $879,000, adding $6,009 every year, while hoping to spend $42,035 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: 73/18/9 Blend
61$879,000$879,000$879,000$879,000
62$974,856$928,269$914,645$1,044,049
63$1,029,567$929,030$900,560$1,091,290
64$1,088,449$928,418$884,595$1,137,179
65$1,151,884$926,324$866,642$1,186,270
66$1,220,290$922,628$846,589$1,238,866
67$1,294,127$917,204$824,318$1,295,303
68$1,373,901$909,920$799,705$1,355,951
69$1,460,167$900,634$772,623$1,421,218
70$1,553,535$889,196$742,937$1,491,554
71$1,654,675$875,447$710,506$1,567,456
72$1,764,327$859,219$675,182$1,649,473
73$1,883,301$840,333$636,813$1,738,208
74$2,012,489$818,600$595,238$1,834,330
75$2,152,872$793,821$550,288$1,938,574
76$2,305,531$765,784$501,788$2,051,753
77$2,471,652$734,265$449,555$2,174,763
78$2,652,543$699,026$393,397$2,308,592
79$2,849,641$659,817$333,115$2,454,333
80$3,064,530$616,373$268,499$2,613,188
81$3,298,950$568,413$199,332$2,786,487
82$3,554,818$515,642$125,386$2,975,693
83$3,834,246$457,744$46,422$3,182,423
84$4,139,556$394,390$0$3,408,462
85$4,473,305$325,230$0$3,659,410
86$4,838,309$249,893$0$3,938,797
87$5,237,668$167,990$0$4,244,582
88$5,674,797$79,108$0$4,579,432
89$6,153,453$0$0$4,946,288
90$6,677,777$0$0$5,351,800
91$7,252,328$0$0$5,813,366
92$7,882,125$0$0$6,319,356
93$8,572,698$0$0$6,874,218
94$9,330,137$0$0$7,482,849
95$10,161,151$0$0$8,150,646
96$11,073,127$0$0$8,883,551
97$12,074,204$0$0$9,688,111
98$13,173,347$0$0$10,571,537
99$14,380,432$0$0$11,541,772
100$15,706,336$0$0$12,607,567