Can I retire at age 62 with 886,000?

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 $886,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.1%
1 years$73,165$72,513$71,877$71,257$70,651$68,335
2 years$36,220$35,546$34,892$34,258$33,643$31,332
3 years$23,907$23,230$22,577$21,950$21,345$19,111
4 years$17,752$17,076$16,431$15,813$15,223$13,083
5 years$14,059$13,388$12,751$12,146$11,572$9,533
6 years$11,599$10,932$10,305$9,713$9,157$7,219
7 years$9,842$9,181$8,563$7,986$7,447$5,611
8 years$8,524$7,870$7,262$6,699$6,178$4,442
9 years$7,501$6,852$6,255$5,706$5,203$3,565
10 years$6,682$6,040$5,453$4,919$4,433$2,891
11 years$6,013$5,377$4,801$4,281$3,813$2,363
12 years$5,455$4,826$4,261$3,755$3,304$1,944
13 years$4,984$4,361$3,807$3,315$2,881$1,607
14 years$4,580$3,964$3,420$2,943$2,526$1,335
15 years$4,231$3,621$3,088$2,624$2,224$1,112
16 years$3,925$3,323$2,800$2,350$1,965$928
17 years$3,656$3,060$2,548$2,111$1,743$777
18 years$3,417$2,828$2,326$1,903$1,549$652
19 years$3,203$2,621$2,129$1,719$1,381$547
20 years$3,011$2,435$1,954$1,557$1,234$460
21 years$2,838$2,268$1,797$1,413$1,104$388
22 years$2,680$2,117$1,656$1,285$989$327
23 years$2,536$1,980$1,529$1,170$888$276
24 years$2,405$1,855$1,414$1,067$798$232
25 years$2,284$1,741$1,310$975$718$196
26 years$2,173$1,636$1,215$891$647$166
27 years$2,070$1,540$1,128$816$583$140
28 years$1,975$1,451$1,049$747$526$118
29 years$1,886$1,369$976$685$475$100
30 years$1,804$1,293$909$629$430$85
31 years$1,726$1,222$848$578$388$72
32 years$1,654$1,156$791$531$351$61
33 years$1,587$1,095$738$488$318$51
34 years$1,523$1,038$690$449$288$43
35 years$1,463$985$645$414$261$37
36 years$1,407$934$603$381$236$31
37 years$1,354$888$565$351$214$26
38 years$1,304$843$529$323$194$22
39 years$1,256$802$496$298$176$19
40 years$1,211$763$464$275$160$16
41 years$1,169$726$435$254$145$14
42 years$1,128$692$409$234$131$11
43 years$1,089$659$383$216$119$10
44 years$1,053$628$360$200$108$8
45 years$1,018$599$338$184$98$7
46 years$984$572$317$170$89$6
47 years$952$545$298$157$81$5
48 years$922$521$280$145$74$4
49 years$893$497$263$134$67$4
50 years$865$475$248$124$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $886,000, adding $4,515 every year, while hoping to spend $36,616 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: 27/45/28 Blend
61$886,000$886,000$886,000$886,000
62$981,029$934,071$920,338$998,877
63$1,042,135$940,882$912,210$1,020,493
64$1,108,246$946,798$902,583$1,040,243
65$1,179,835$951,739$891,367$1,060,705
66$1,257,421$955,617$878,470$1,081,965
67$1,341,573$958,337$863,794$1,104,120
68$1,432,919$959,801$847,237$1,127,281
69$1,532,150$959,904$828,692$1,151,573
70$1,640,023$958,534$808,048$1,177,136
71$1,757,376$955,572$785,188$1,204,129
72$1,885,125$950,892$759,988$1,232,731
73$2,024,282$944,361$732,323$1,263,143
74$2,175,960$935,836$702,057$1,295,589
75$2,341,383$925,167$669,051$1,330,323
76$2,521,899$912,194$633,158$1,367,629
77$2,718,990$896,750$594,227$1,407,823
78$2,934,291$878,654$552,097$1,451,262
79$3,169,598$857,717$506,602$1,498,341
80$3,426,890$833,739$457,566$1,549,506
81$3,708,348$806,506$404,809$1,605,252
82$4,016,369$775,795$348,140$1,666,130
83$4,353,596$741,366$287,360$1,732,759
84$4,722,938$702,969$222,262$1,805,824
85$5,127,599$660,336$152,629$1,886,091
86$5,571,108$613,186$78,236$1,974,410
87$6,057,350$561,221$0$2,071,731
88$6,590,606$504,127$0$2,179,451
89$7,175,589$441,570$0$2,323,363
90$7,817,491$373,200$0$2,481,447
91$8,522,033$298,644$0$2,655,228
92$9,295,513$217,510$0$2,846,397
93$10,144,871$129,384$0$3,056,820
94$11,077,752$33,828$0$3,288,565
95$12,102,578$0$0$3,543,920
96$13,228,624$0$0$3,859,887
97$14,466,113$0$0$4,225,690
98$15,826,302$0$0$4,627,926
99$17,321,598$0$0$5,070,284
100$18,965,665$0$0$5,556,827