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%15.1%
1 years$72,835$72,186$71,553$70,935$70,332$68,856
2 years$36,057$35,385$34,734$34,103$33,491$32,011
3 years$23,799$23,125$22,475$21,850$21,248$19,810
4 years$17,671$16,999$16,356$15,742$15,154$13,769
5 years$13,996$13,327$12,693$12,091$11,520$10,192
6 years$11,546$10,883$10,258$9,670$9,116$7,846
7 years$9,797$9,139$8,524$7,950$7,413$6,203
8 years$8,486$7,834$7,229$6,669$6,150$4,998
9 years$7,467$6,821$6,227$5,680$5,179$4,085
10 years$6,652$6,012$5,429$4,897$4,413$3,375
11 years$5,985$5,353$4,779$4,262$3,795$2,812
12 years$5,431$4,804$4,241$3,738$3,289$2,360
13 years$4,961$4,342$3,789$3,300$2,868$1,991
14 years$4,560$3,946$3,405$2,929$2,514$1,687
15 years$4,212$3,605$3,074$2,613$2,214$1,435
16 years$3,908$3,308$2,787$2,339$1,956$1,225
17 years$3,640$3,046$2,536$2,102$1,735$1,048
18 years$3,402$2,815$2,315$1,894$1,542$899
19 years$3,189$2,609$2,119$1,711$1,375$772
20 years$2,998$2,424$1,945$1,550$1,228$664
21 years$2,825$2,258$1,789$1,407$1,099$572
22 years$2,668$2,108$1,649$1,279$985$494
23 years$2,525$1,971$1,523$1,165$884$426
24 years$2,394$1,847$1,408$1,062$795$368
25 years$2,274$1,733$1,304$970$715$319
26 years$2,163$1,629$1,210$887$644$276
27 years$2,061$1,533$1,123$812$581$239
28 years$1,966$1,445$1,044$744$524$207
29 years$1,878$1,363$972$682$473$179
30 years$1,795$1,287$905$626$428$155
31 years$1,719$1,217$844$575$387$135
32 years$1,647$1,151$787$529$350$117
33 years$1,580$1,090$735$486$316$101
34 years$1,516$1,033$687$447$287$88
35 years$1,457$980$642$412$260$76
36 years$1,401$930$601$379$235$66
37 years$1,348$884$562$349$213$57
38 years$1,298$840$526$322$193$50
39 years$1,251$798$493$297$175$43
40 years$1,206$760$462$274$159$38
41 years$1,163$723$434$253$144$33
42 years$1,123$689$407$233$131$28
43 years$1,085$656$382$215$119$25
44 years$1,048$625$358$199$108$21
45 years$1,013$596$336$184$98$19
46 years$980$569$316$170$89$16
47 years$948$543$297$157$81$14
48 years$918$518$279$145$73$12
49 years$889$495$262$134$67$11
50 years$861$473$246$124$60$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $882,000, adding $4,953 every year, while hoping to spend $48,573 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: 29/47/24 Blend
61$882,000$882,000$882,000$882,000
62$977,073$930,327$916,656$997,990
63$1,025,053$924,232$895,683$1,008,560
64$1,076,299$916,210$872,379$1,015,301
65$1,131,093$906,116$846,615$1,021,546
66$1,189,744$893,795$818,256$1,027,286
67$1,252,591$879,083$787,160$1,032,513
68$1,320,005$861,808$753,180$1,037,223
69$1,392,394$841,785$716,160$1,041,418
70$1,470,206$818,820$675,939$1,045,106
71$1,553,932$792,708$632,348$1,048,299
72$1,644,112$763,229$585,210$1,051,019
73$1,741,337$730,154$534,341$1,053,297
74$1,846,261$693,238$479,548$1,055,171
75$1,959,596$652,223$420,630$1,056,694
76$2,082,129$606,837$357,376$1,057,930
77$2,214,725$556,791$289,566$1,058,959
78$2,358,332$501,779$216,972$1,059,877
79$2,513,995$441,479$139,354$1,060,799
80$2,682,862$375,550$56,461$1,061,862
81$2,866,195$303,633$0$1,063,228
82$3,065,382$225,347$0$1,073,280
83$3,281,952$140,290$0$1,100,006
84$3,517,586$48,038$0$1,129,259
85$3,774,131$0$0$1,161,410
86$4,053,623$0$0$1,223,694
87$4,358,301$0$0$1,318,802
88$4,690,629$0$0$1,422,676
89$5,053,320$0$0$1,536,179
90$5,449,360$0$0$1,660,264
91$5,882,034$0$0$1,795,979
92$6,354,961$0$0$1,944,478
93$6,872,125$0$0$2,107,030
94$7,437,912$0$0$2,285,036
95$8,057,151$0$0$2,480,035
96$8,735,161$0$0$2,693,725
97$9,477,798$0$0$2,927,974
98$10,291,510$0$0$3,184,841
99$11,183,401$0$0$3,466,592
100$12,161,292$0$0$3,775,723