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%11.6%
1 years$73,248$72,595$71,959$71,337$70,731$70,255
2 years$36,261$35,586$34,931$34,297$33,681$33,202
3 years$23,934$23,256$22,603$21,974$21,369$20,900
4 years$17,772$17,095$16,449$15,831$15,240$14,786
5 years$14,075$13,403$12,765$12,160$11,585$11,147
6 years$11,612$10,945$10,316$9,724$9,167$8,745
7 years$9,853$9,191$8,573$7,995$7,455$7,050
8 years$8,534$7,879$7,270$6,707$6,185$5,796
9 years$7,509$6,860$6,262$5,713$5,209$4,836
10 years$6,689$6,047$5,459$4,924$4,438$4,082
11 years$6,019$5,383$4,806$4,286$3,817$3,476
12 years$5,461$4,831$4,265$3,759$3,308$2,983
13 years$4,990$4,366$3,811$3,319$2,884$2,575
14 years$4,585$3,969$3,424$2,946$2,528$2,234
15 years$4,236$3,625$3,092$2,627$2,226$1,946
16 years$3,930$3,326$2,803$2,352$1,967$1,702
17 years$3,660$3,063$2,551$2,114$1,745$1,492
18 years$3,421$2,831$2,328$1,905$1,551$1,312
19 years$3,207$2,623$2,131$1,721$1,383$1,157
20 years$3,015$2,438$1,956$1,559$1,235$1,021
21 years$2,841$2,271$1,799$1,415$1,105$903
22 years$2,683$2,120$1,658$1,286$991$800
23 years$2,539$1,983$1,531$1,172$889$710
24 years$2,408$1,857$1,416$1,068$799$630
25 years$2,287$1,743$1,312$976$719$560
26 years$2,175$1,638$1,216$892$648$498
27 years$2,072$1,542$1,130$817$584$444
28 years$1,977$1,453$1,050$748$527$395
29 years$1,888$1,371$977$686$476$353
30 years$1,806$1,294$910$630$430$315
31 years$1,728$1,224$849$578$389$281
32 years$1,656$1,158$792$532$352$251
33 years$1,588$1,096$739$489$318$224
34 years$1,525$1,039$691$450$288$200
35 years$1,465$986$646$414$261$179
36 years$1,409$936$604$381$236$160
37 years$1,356$889$565$351$214$143
38 years$1,305$844$529$324$194$128
39 years$1,258$803$496$299$176$114
40 years$1,213$764$465$275$160$102
41 years$1,170$727$436$254$145$92
42 years$1,129$693$409$234$132$82
43 years$1,091$660$384$216$119$73
44 years$1,054$629$360$200$108$66
45 years$1,019$600$338$185$98$59
46 years$985$572$318$170$89$53
47 years$954$546$298$158$81$47
48 years$923$521$280$146$74$42
49 years$894$498$264$135$67$38
50 years$866$476$248$124$61$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $887,000, adding $2,657 every year, while hoping to spend $32,349 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: 72/7/21 Blend
61$887,000$887,000$887,000$887,000
62$980,215$933,204$919,455$1,045,591
63$1,045,778$944,512$915,838$1,100,774
64$1,116,944$955,289$911,015$1,157,076
65$1,194,250$965,477$904,913$1,217,931
66$1,278,288$975,010$897,452$1,283,788
67$1,369,709$983,820$888,551$1,355,140
68$1,469,226$991,835$878,125$1,432,530
69$1,577,629$998,976$866,084$1,516,558
70$1,695,783$1,005,162$852,333$1,607,885
71$1,824,641$1,010,303$836,775$1,707,240
72$1,965,253$1,014,307$819,305$1,815,427
73$2,118,774$1,017,073$799,818$1,933,330
74$2,286,476$1,018,497$778,199$2,061,928
75$2,469,759$1,018,465$754,331$2,202,298
76$2,670,164$1,016,859$728,090$2,355,626
77$2,889,387$1,013,552$699,347$2,523,221
78$3,129,297$1,008,409$667,968$2,706,528
79$3,391,952$1,001,287$633,811$2,907,137
80$3,679,616$992,036$596,730$3,126,804
81$3,994,786$980,494$556,569$3,367,462
82$4,340,208$966,492$513,168$3,631,245
83$4,718,908$949,850$466,358$3,920,504
84$5,134,220$930,376$415,964$4,237,831
85$5,589,815$907,868$361,803$4,586,085
86$6,089,735$882,112$303,682$4,968,416
87$6,638,434$852,882$241,402$5,388,298
88$7,240,818$819,937$174,753$5,849,561
89$7,902,291$783,024$103,517$6,356,426
90$8,628,806$741,874$27,466$6,913,549
91$9,426,921$696,202$0$7,526,059
92$10,303,860$645,709$0$8,211,645
93$11,267,581$590,076$0$8,971,860
94$12,326,853$528,968$0$9,807,476
95$13,491,335$462,031$0$10,726,130
96$14,771,669$388,888$0$11,736,238
97$16,179,581$309,145$0$12,847,074
98$17,727,987$222,382$0$14,068,856
99$19,431,120$128,157$0$15,412,843
100$21,304,661$26,004$0$16,891,444