Can I retire at age 62 with 895,000?

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 $895,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$73,908$73,250$72,608$71,981$71,369$69,250
2 years$36,588$35,907$35,246$34,606$33,985$31,869
3 years$24,150$23,466$22,807$22,172$21,561$19,513
4 years$17,932$17,250$16,597$15,974$15,378$13,413
5 years$14,202$13,524$12,880$12,270$11,690$9,814
6 years$11,716$11,043$10,409$9,812$9,250$7,465
7 years$9,942$9,274$8,650$8,067$7,523$5,828
8 years$8,611$7,950$7,336$6,767$6,241$4,636
9 years$7,577$6,922$6,318$5,764$5,256$3,739
10 years$6,750$6,101$5,509$4,969$4,478$3,047
11 years$6,074$5,431$4,850$4,324$3,851$2,504
12 years$5,511$4,875$4,304$3,793$3,337$2,071
13 years$5,035$4,406$3,845$3,349$2,910$1,721
14 years$4,627$4,004$3,455$2,973$2,551$1,437
15 years$4,274$3,658$3,119$2,651$2,246$1,204
16 years$3,965$3,356$2,828$2,374$1,985$1,011
17 years$3,693$3,091$2,574$2,133$1,760$852
18 years$3,452$2,856$2,349$1,922$1,565$718
19 years$3,236$2,647$2,151$1,737$1,395$607
20 years$3,042$2,460$1,974$1,573$1,246$514
21 years$2,867$2,291$1,816$1,428$1,115$435
22 years$2,707$2,139$1,673$1,298$1,000$369
23 years$2,562$2,000$1,545$1,182$897$313
24 years$2,429$1,874$1,429$1,078$806$266
25 years$2,307$1,759$1,323$985$726$226
26 years$2,195$1,653$1,227$900$654$192
27 years$2,091$1,556$1,140$824$589$163
28 years$1,995$1,466$1,060$755$532$139
29 years$1,905$1,383$986$692$480$118
30 years$1,822$1,306$918$635$434$101
31 years$1,744$1,235$856$584$392$86
32 years$1,671$1,168$799$536$355$73
33 years$1,603$1,106$746$493$321$62
34 years$1,539$1,049$697$454$291$53
35 years$1,478$995$652$418$263$45
36 years$1,421$944$610$385$239$38
37 years$1,368$897$571$354$216$33
38 years$1,317$852$534$327$196$28
39 years$1,269$810$501$301$178$24
40 years$1,224$771$469$278$161$20
41 years$1,180$734$440$256$146$17
42 years$1,139$699$413$237$133$15
43 years$1,100$666$387$218$120$13
44 years$1,063$635$363$202$109$11
45 years$1,028$605$341$186$99$9
46 years$994$577$321$172$90$8
47 years$962$551$301$159$82$7
48 years$931$526$283$147$74$6
49 years$902$502$266$136$68$5
50 years$874$480$250$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $895,000, adding $6,727 every year, while hoping to spend $29,226 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: 85/6/9 Blend
61$895,000$895,000$895,000$895,000
62$993,229$945,794$931,921$1,075,926
63$1,063,442$961,042$932,045$1,146,189
64$1,139,837$976,057$931,192$1,218,705
65$1,223,015$990,797$929,301$1,297,463
66$1,313,634$1,005,218$926,304$1,383,071
67$1,412,421$1,019,270$922,132$1,476,201
68$1,520,176$1,032,902$916,711$1,577,592
69$1,637,777$1,046,058$909,965$1,688,056
70$1,766,195$1,058,679$901,813$1,808,490
71$1,906,493$1,070,701$892,170$1,939,880
72$2,059,847$1,082,057$880,950$2,083,314
73$2,227,548$1,092,675$868,058$2,239,989
74$2,411,019$1,102,477$853,399$2,411,223
75$2,611,826$1,111,381$836,871$2,598,470
76$2,831,695$1,119,301$818,368$2,803,330
77$3,072,523$1,126,143$797,779$3,027,565
78$3,336,405$1,131,808$774,989$3,273,120
79$3,625,642$1,136,191$749,875$3,542,133
80$3,942,773$1,139,179$722,311$3,836,963
81$4,290,591$1,140,655$692,164$4,160,207
82$4,672,176$1,140,491$659,296$4,514,728
83$5,090,916$1,138,553$623,560$4,903,679
84$5,550,546$1,134,698$584,806$5,330,536
85$6,055,179$1,128,777$542,875$5,799,127
86$6,609,347$1,120,627$497,601$6,313,672
87$7,218,042$1,110,078$448,812$6,878,820
88$7,886,761$1,096,951$396,326$7,499,692
89$8,621,563$1,081,054$339,955$8,181,934
90$9,429,121$1,062,184$279,502$8,931,766
91$10,316,786$1,040,126$214,761$9,756,041
92$11,292,659$1,014,653$145,516$10,662,314
93$12,365,664$985,524$71,544$11,658,906
94$13,545,631$952,484$0$12,754,990
95$14,843,392$915,263$0$13,961,382
96$16,270,883$873,576$0$15,295,888
97$17,841,252$827,120$0$16,763,928
98$19,568,987$775,577$0$18,379,052
99$21,470,051$718,607$0$20,156,192
100$23,562,032$655,854$0$22,111,799