Can I retire at age 62 with 887,000?

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 $887,000?

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$73,248$72,595$71,959$71,337$70,731$70,314
2 years$36,261$35,586$34,931$34,297$33,681$33,261
3 years$23,934$23,256$22,603$21,974$21,369$20,958
4 years$17,772$17,095$16,449$15,831$15,240$14,842
5 years$14,075$13,403$12,765$12,160$11,585$11,201
6 years$11,612$10,945$10,316$9,724$9,167$8,797
7 years$9,853$9,191$8,573$7,995$7,455$7,099
8 years$8,534$7,879$7,270$6,707$6,185$5,843
9 years$7,509$6,860$6,262$5,713$5,209$4,881
10 years$6,689$6,047$5,459$4,924$4,438$4,125
11 years$6,019$5,383$4,806$4,286$3,817$3,517
12 years$5,461$4,831$4,265$3,759$3,308$3,022
13 years$4,990$4,366$3,811$3,319$2,884$2,612
14 years$4,585$3,969$3,424$2,946$2,528$2,269
15 years$4,236$3,625$3,092$2,627$2,226$1,979
16 years$3,930$3,326$2,803$2,352$1,967$1,733
17 years$3,660$3,063$2,551$2,114$1,745$1,522
18 years$3,421$2,831$2,328$1,905$1,551$1,340
19 years$3,207$2,623$2,131$1,721$1,383$1,183
20 years$3,015$2,438$1,956$1,559$1,235$1,046
21 years$2,841$2,271$1,799$1,415$1,105$927
22 years$2,683$2,120$1,658$1,286$991$822
23 years$2,539$1,983$1,531$1,172$889$730
24 years$2,408$1,857$1,416$1,068$799$649
25 years$2,287$1,743$1,312$976$719$578
26 years$2,175$1,638$1,216$892$648$515
27 years$2,072$1,542$1,130$817$584$459
28 years$1,977$1,453$1,050$748$527$410
29 years$1,888$1,371$977$686$476$366
30 years$1,806$1,294$910$630$430$327
31 years$1,728$1,224$849$578$389$292
32 years$1,656$1,158$792$532$352$262
33 years$1,588$1,096$739$489$318$234
34 years$1,525$1,039$691$450$288$209
35 years$1,465$986$646$414$261$188
36 years$1,409$936$604$381$236$168
37 years$1,356$889$565$351$214$150
38 years$1,305$844$529$324$194$135
39 years$1,258$803$496$299$176$121
40 years$1,213$764$465$275$160$108
41 years$1,170$727$436$254$145$97
42 years$1,129$693$409$234$132$87
43 years$1,091$660$384$216$119$78
44 years$1,054$629$360$200$108$70
45 years$1,019$600$338$185$98$63
46 years$985$572$318$170$89$56
47 years$954$546$298$158$81$50
48 years$923$521$280$146$74$45
49 years$894$498$264$135$67$41
50 years$866$476$248$124$61$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $887,000, adding $6,413 every year, while hoping to spend $53,253 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: 79/6/15 Blend
61$887,000$887,000$887,000$887,000
62$984,089$937,078$923,330$1,058,261
63$1,027,805$926,334$897,600$1,097,258
64$1,074,196$913,279$869,224$1,132,582
65$1,123,477$897,743$838,057$1,169,839
66$1,175,886$879,547$803,946$1,209,200
67$1,231,682$858,500$766,734$1,250,854
68$1,291,149$834,401$726,254$1,295,012
69$1,354,597$807,038$682,334$1,341,902
70$1,422,366$776,183$634,793$1,391,779
71$1,494,831$741,600$583,442$1,444,924
72$1,572,400$703,034$528,084$1,501,647
73$1,655,521$660,219$468,511$1,562,290
74$1,744,686$612,872$404,508$1,627,229
75$1,840,437$560,695$335,852$1,696,882
76$1,943,364$503,372$262,305$1,771,708
77$2,054,118$440,569$183,624$1,852,215
78$2,173,415$371,933$99,552$1,938,963
79$2,302,037$297,092$9,821$2,032,569
80$2,440,847$215,652$0$2,133,718
81$2,590,793$127,197$0$2,256,915
82$2,752,913$31,290$0$2,391,810
83$2,928,352$0$0$2,537,795
84$3,118,367$0$0$2,700,723
85$3,324,341$0$0$2,879,597
86$3,547,792$0$0$3,073,672
87$3,790,394$0$0$3,284,405
88$4,053,983$0$0$3,513,394
89$4,340,583$0$0$3,762,401
90$4,652,419$0$0$4,033,362
91$4,991,939$0$0$4,328,407
92$5,361,836$0$0$4,649,882
93$5,765,076$0$0$5,000,366
94$6,204,920$0$0$5,382,700
95$6,684,960$0$0$5,800,009
96$7,209,150$0$0$6,255,735
97$7,781,840$0$0$6,753,665
98$8,407,821$0$0$7,297,968
99$9,092,367$0$0$7,893,237
100$9,841,286$0$0$8,544,525