Can I retire at age 62 with 885,000?

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 $885,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$73,082$72,431$71,796$71,176$70,571$68,726
2 years$36,179$35,506$34,853$34,219$33,605$31,759
3 years$23,880$23,203$22,552$21,925$21,321$19,530
4 years$17,732$17,057$16,412$15,796$15,206$13,486
5 years$14,043$13,373$12,736$12,132$11,559$9,915
6 years$11,585$10,920$10,293$9,702$9,147$7,578
7 years$9,830$9,171$8,553$7,977$7,439$5,947
8 years$8,515$7,861$7,254$6,692$6,171$4,756
9 years$7,492$6,844$6,248$5,700$5,197$3,856
10 years$6,674$6,033$5,447$4,913$4,428$3,161
11 years$6,006$5,371$4,795$4,276$3,808$2,612
12 years$5,449$4,820$4,256$3,751$3,300$2,173
13 years$4,978$4,356$3,802$3,311$2,878$1,818
14 years$4,575$3,960$3,416$2,939$2,523$1,527
15 years$4,226$3,617$3,085$2,621$2,221$1,287
16 years$3,921$3,319$2,797$2,347$1,963$1,088
17 years$3,652$3,057$2,545$2,109$1,741$922
18 years$3,413$2,824$2,323$1,901$1,548$783
19 years$3,200$2,618$2,127$1,717$1,379$667
20 years$3,008$2,432$1,952$1,555$1,232$568
21 years$2,834$2,266$1,795$1,412$1,103$484
22 years$2,677$2,115$1,655$1,283$988$414
23 years$2,534$1,978$1,528$1,169$887$354
24 years$2,402$1,853$1,413$1,066$797$302
25 years$2,282$1,739$1,309$974$718$259
26 years$2,170$1,635$1,214$890$646$222
27 years$2,068$1,538$1,127$815$583$190
28 years$1,972$1,450$1,048$747$526$163
29 years$1,884$1,368$975$685$475$140
30 years$1,801$1,291$908$628$429$120
31 years$1,724$1,221$847$577$388$103
32 years$1,652$1,155$790$530$351$88
33 years$1,585$1,094$738$488$318$76
34 years$1,521$1,037$689$449$287$65
35 years$1,462$983$644$413$260$56
36 years$1,406$933$603$380$236$48
37 years$1,353$887$564$351$214$41
38 years$1,302$843$528$323$194$35
39 years$1,255$801$495$298$176$30
40 years$1,210$762$464$275$159$26
41 years$1,167$726$435$253$145$22
42 years$1,127$691$408$234$131$19
43 years$1,088$658$383$216$119$16
44 years$1,052$628$359$199$108$14
45 years$1,017$598$337$184$98$12
46 years$983$571$317$170$89$10
47 years$951$545$298$157$81$9
48 years$921$520$280$145$73$8
49 years$892$497$263$134$67$7
50 years$864$474$247$124$61$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $885,000, adding $4,417 every year, while hoping to spend $30,415 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: 35/35/30 Blend
61$885,000$885,000$885,000$885,000
62$979,826$932,921$919,204$1,005,153
63$1,047,407$946,273$917,636$1,037,957
64$1,120,862$959,260$914,996$1,070,303
65$1,200,758$971,831$911,216$1,104,628
66$1,287,718$983,934$906,225$1,141,133
67$1,382,430$995,511$899,948$1,180,038
68$1,485,648$1,006,502$892,306$1,221,588
69$1,598,204$1,016,840$883,219$1,266,054
70$1,721,013$1,026,458$872,599$1,313,737
71$1,855,082$1,035,280$860,356$1,364,970
72$2,001,519$1,043,227$846,397$1,420,123
73$2,161,546$1,050,217$830,623$1,479,606
74$2,336,505$1,056,159$812,931$1,543,871
75$2,527,876$1,060,959$793,211$1,613,421
76$2,737,288$1,064,514$771,353$1,688,813
77$2,966,535$1,066,719$747,236$1,770,661
78$3,217,591$1,067,457$720,738$1,859,648
79$3,492,632$1,066,609$691,729$1,956,527
80$3,794,052$1,064,045$660,074$2,062,134
81$4,124,490$1,059,628$625,631$2,177,392
82$4,486,851$1,053,213$588,253$2,303,323
83$4,884,336$1,044,646$547,785$2,441,056
84$5,320,468$1,033,764$504,066$2,591,841
85$5,799,131$1,020,393$456,927$2,757,060
86$6,324,601$1,004,351$406,193$2,938,240
87$6,901,588$985,442$351,678$3,137,070
88$7,535,282$963,461$293,191$3,355,417
89$8,231,399$938,189$230,532$3,595,342
90$8,996,237$909,396$163,490$3,859,126
91$9,836,734$876,837$91,848$4,149,287
92$10,760,532$840,253$15,376$4,468,607
93$11,776,052$799,370$0$4,820,159
94$12,892,569$753,900$0$5,228,540
95$14,120,306$703,536$0$5,682,928
96$15,470,522$647,953$0$6,182,619
97$16,955,622$586,811$0$6,732,273
98$18,589,277$519,746$0$7,337,027
99$20,386,547$446,377$0$8,002,551
100$22,364,025$366,299$0$8,735,094