Can I retire at age 62 with 882,000?

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 $882,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$72,835$72,186$71,553$70,935$70,332$69,310
2 years$36,057$35,385$34,734$34,103$33,491$32,463
3 years$23,799$23,125$22,475$21,850$21,248$20,247
4 years$17,671$16,999$16,356$15,742$15,154$14,187
5 years$13,996$13,327$12,693$12,091$11,520$10,590
6 years$11,546$10,883$10,258$9,670$9,116$8,223
7 years$9,797$9,139$8,524$7,950$7,413$6,559
8 years$8,486$7,834$7,229$6,669$6,150$5,334
9 years$7,467$6,821$6,227$5,680$5,179$4,402
10 years$6,652$6,012$5,429$4,897$4,413$3,673
11 years$5,985$5,353$4,779$4,262$3,795$3,091
12 years$5,431$4,804$4,241$3,738$3,289$2,621
13 years$4,961$4,342$3,789$3,300$2,868$2,235
14 years$4,560$3,946$3,405$2,929$2,514$1,914
15 years$4,212$3,605$3,074$2,613$2,214$1,647
16 years$3,908$3,308$2,787$2,339$1,956$1,421
17 years$3,640$3,046$2,536$2,102$1,735$1,230
18 years$3,402$2,815$2,315$1,894$1,542$1,067
19 years$3,189$2,609$2,119$1,711$1,375$927
20 years$2,998$2,424$1,945$1,550$1,228$808
21 years$2,825$2,258$1,789$1,407$1,099$704
22 years$2,668$2,108$1,649$1,279$985$615
23 years$2,525$1,971$1,523$1,165$884$538
24 years$2,394$1,847$1,408$1,062$795$470
25 years$2,274$1,733$1,304$970$715$412
26 years$2,163$1,629$1,210$887$644$361
27 years$2,061$1,533$1,123$812$581$317
28 years$1,966$1,445$1,044$744$524$278
29 years$1,878$1,363$972$682$473$244
30 years$1,795$1,287$905$626$428$214
31 years$1,719$1,217$844$575$387$188
32 years$1,647$1,151$787$529$350$166
33 years$1,580$1,090$735$486$316$146
34 years$1,516$1,033$687$447$287$128
35 years$1,457$980$642$412$260$113
36 years$1,401$930$601$379$235$99
37 years$1,348$884$562$349$213$87
38 years$1,298$840$526$322$193$77
39 years$1,251$798$493$297$175$68
40 years$1,206$760$462$274$159$59
41 years$1,163$723$434$253$144$52
42 years$1,123$689$407$233$131$46
43 years$1,085$656$382$215$119$41
44 years$1,048$625$358$199$108$36
45 years$1,013$596$336$184$98$31
46 years$980$569$316$170$89$28
47 years$948$543$297$157$81$24
48 years$918$518$279$145$73$21
49 years$889$495$262$134$67$19
50 years$861$473$246$124$60$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $882,000, adding $4,082 every year, while hoping to spend $52,452 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: 67/13/20 Blend
61$882,000$882,000$882,000$882,000
62$976,175$929,429$915,758$1,036,439
63$1,019,936$919,162$890,627$1,067,042
64$1,066,403$906,635$862,896$1,094,053
65$1,115,796$891,680$832,424$1,122,331
66$1,168,357$874,122$799,060$1,152,001
67$1,224,350$853,774$762,648$1,183,198
68$1,284,064$830,439$723,027$1,216,078
69$1,347,815$803,908$680,026$1,250,809
70$1,415,952$773,959$633,467$1,287,582
71$1,488,855$740,359$583,163$1,326,607
72$1,566,941$702,859$528,922$1,368,118
73$1,650,667$661,198$470,539$1,412,377
74$1,740,537$615,098$407,804$1,459,672
75$1,837,100$564,266$340,494$1,510,325
76$1,940,962$508,393$268,378$1,564,693
77$2,052,788$447,152$191,216$1,623,171
78$2,173,305$380,195$108,755$1,686,200
79$2,303,317$307,159$20,733$1,754,266
80$2,443,701$227,656$0$1,827,910
81$2,595,427$141,280$0$1,923,354
82$2,759,556$47,598$0$2,031,377
83$2,937,258$0$0$2,148,351
84$3,129,816$0$0$2,282,860
85$3,338,644$0$0$2,436,163
86$3,565,293$0$0$2,602,598
87$3,811,474$0$0$2,783,424
88$4,079,064$0$0$2,980,028
89$4,370,131$0$0$3,193,936
90$4,686,950$0$0$3,426,826
91$5,032,023$0$0$3,680,544
92$5,408,103$0$0$3,957,123
93$5,818,223$0$0$4,258,800
94$6,265,718$0$0$4,588,037
95$6,754,259$0$0$4,947,543
96$7,287,888$0$0$5,340,302
97$7,871,056$0$0$5,769,598
98$8,508,660$0$0$6,239,047
99$9,206,095$0$0$6,752,629
100$9,969,299$0$0$7,314,728