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%11.4%
1 years$72,587$71,940$71,310$70,694$70,093$69,680
2 years$35,934$35,265$34,616$33,987$33,377$32,961
3 years$23,718$23,046$22,399$21,776$21,176$20,769
4 years$17,611$16,941$16,301$15,688$15,103$14,708
5 years$13,948$13,282$12,650$12,050$11,481$11,100
6 years$11,507$10,846$10,223$9,637$9,085$8,717
7 years$9,764$9,108$8,495$7,923$7,388$7,035
8 years$8,457$7,808$7,205$6,646$6,129$5,791
9 years$7,441$6,798$6,206$5,661$5,162$4,837
10 years$6,629$5,992$5,410$4,880$4,398$4,087
11 years$5,965$5,334$4,763$4,247$3,782$3,486
12 years$5,412$4,788$4,227$3,725$3,278$2,994
13 years$4,945$4,327$3,777$3,289$2,858$2,588
14 years$4,544$3,933$3,393$2,919$2,506$2,248
15 years$4,197$3,593$3,064$2,604$2,206$1,961
16 years$3,894$3,296$2,778$2,331$1,950$1,717
17 years$3,627$3,036$2,528$2,095$1,729$1,508
18 years$3,390$2,805$2,307$1,888$1,537$1,328
19 years$3,178$2,600$2,112$1,706$1,370$1,172
20 years$2,987$2,416$1,939$1,545$1,224$1,037
21 years$2,815$2,250$1,783$1,402$1,095$918
22 years$2,659$2,101$1,643$1,275$982$815
23 years$2,516$1,965$1,517$1,161$881$724
24 years$2,386$1,841$1,403$1,059$792$644
25 years$2,266$1,727$1,300$967$713$573
26 years$2,156$1,624$1,205$884$642$511
27 years$2,054$1,528$1,119$809$579$455
28 years$1,959$1,440$1,041$742$522$406
29 years$1,871$1,358$968$680$472$363
30 years$1,789$1,283$902$624$426$324
31 years$1,713$1,213$841$573$385$290
32 years$1,641$1,147$785$527$348$259
33 years$1,574$1,087$733$484$315$232
34 years$1,511$1,030$684$446$286$208
35 years$1,452$977$640$410$259$186
36 years$1,396$927$599$378$234$166
37 years$1,343$881$560$348$212$149
38 years$1,294$837$525$321$193$134
39 years$1,246$796$492$296$175$120
40 years$1,202$757$461$273$158$107
41 years$1,159$721$432$252$144$96
42 years$1,119$686$405$232$130$86
43 years$1,081$654$380$214$118$77
44 years$1,044$623$357$198$107$69
45 years$1,010$594$335$183$97$62
46 years$977$567$315$169$89$56
47 years$945$541$296$156$80$50
48 years$915$517$278$144$73$45
49 years$886$493$261$133$66$40
50 years$858$471$246$123$60$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $879,000, adding $6,668 every year, while hoping to spend $25,339 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: 60/34/6 Blend
61$879,000$879,000$879,000$879,000
62$975,536$928,949$915,325$1,032,553
63$1,048,080$947,507$919,027$1,090,071
64$1,127,175$966,125$922,005$1,149,261
65$1,213,461$984,780$924,206$1,213,173
66$1,307,644$1,003,444$925,578$1,282,261
67$1,410,503$1,022,092$926,063$1,357,026
68$1,522,891$1,040,691$925,604$1,438,020
69$1,645,751$1,059,211$924,137$1,525,848
70$1,780,120$1,077,614$921,598$1,621,181
71$1,927,140$1,095,865$917,919$1,724,756
72$2,088,067$1,113,921$913,028$1,837,385
73$2,264,286$1,131,739$906,851$1,959,962
74$2,457,322$1,149,273$899,308$2,093,476
75$2,668,852$1,166,471$890,319$2,239,011
76$2,900,726$1,183,279$879,796$2,397,768
77$3,154,981$1,199,641$867,650$2,571,064
78$3,433,859$1,215,492$853,785$2,760,357
79$3,739,829$1,230,769$838,104$2,967,249
80$4,075,614$1,245,399$820,503$3,193,508
81$4,444,210$1,259,306$800,873$3,441,081
82$4,848,919$1,272,412$779,102$3,712,117
83$5,293,377$1,284,628$755,070$4,008,982
84$5,781,590$1,295,864$728,654$4,334,284
85$6,317,973$1,306,022$699,724$4,690,899
86$6,907,386$1,314,997$668,145$5,081,997
87$7,555,186$1,322,678$633,774$5,511,069
88$8,267,275$1,328,949$596,465$5,981,967
89$9,050,152$1,333,683$556,062$6,498,936
90$9,910,980$1,336,746$512,403$7,066,653
91$10,857,651$1,337,998$465,319$7,690,275
92$11,898,859$1,337,287$414,635$8,375,487
93$13,044,182$1,334,453$360,165$9,128,553
94$14,304,175$1,329,328$301,716$9,956,380
95$15,690,466$1,321,730$239,089$10,866,579
96$17,215,867$1,311,468$172,072$11,867,542
97$18,894,496$1,298,341$100,447$12,968,517
98$20,741,907$1,282,132$23,985$14,179,697
99$22,775,240$1,262,615$0$15,512,321
100$25,013,379$1,239,547$0$16,982,460