Can I retire at age 62 with 842,000?

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 $842,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.1%
1 years$69,532$68,912$68,308$67,718$67,142$66,552
2 years$34,422$33,781$33,159$32,557$31,973$31,378
3 years$22,720$22,076$21,456$20,859$20,285$19,704
4 years$16,870$16,228$15,615$15,028$14,467$13,905
5 years$13,361$12,723$12,118$11,543$10,998$10,455
6 years$11,023$10,389$9,793$9,231$8,702$8,180
7 years$9,353$8,725$8,138$7,589$7,077$6,576
8 years$8,101$7,479$6,902$6,367$5,871$5,391
9 years$7,128$6,512$5,944$5,423$4,944$4,485
10 years$6,350$5,740$5,182$4,675$4,213$3,774
11 years$5,714$5,110$4,562$4,068$3,623$3,205
12 years$5,184$4,586$4,049$3,568$3,140$2,741
13 years$4,736$4,145$3,618$3,150$2,738$2,358
14 years$4,353$3,767$3,250$2,797$2,400$2,039
15 years$4,021$3,442$2,935$2,494$2,113$1,771
16 years$3,730$3,158$2,661$2,233$1,868$1,543
17 years$3,474$2,908$2,421$2,006$1,656$1,349
18 years$3,247$2,687$2,210$1,808$1,472$1,182
19 years$3,044$2,490$2,023$1,634$1,312$1,038
20 years$2,862$2,314$1,857$1,480$1,172$913
21 years$2,697$2,156$1,708$1,343$1,049$805
22 years$2,547$2,012$1,574$1,221$940$710
23 years$2,411$1,882$1,453$1,112$844$627
24 years$2,286$1,763$1,344$1,014$759$555
25 years$2,171$1,655$1,245$926$683$492
26 years$2,065$1,555$1,155$847$615$436
27 years$1,967$1,464$1,072$775$554$386
28 years$1,877$1,379$997$710$500$343
29 years$1,792$1,301$928$651$452$304
30 years$1,714$1,229$864$598$408$270
31 years$1,641$1,162$806$549$369$240
32 years$1,572$1,099$752$505$334$214
33 years$1,508$1,041$702$464$302$190
34 years$1,448$986$656$427$274$169
35 years$1,391$936$613$393$248$151
36 years$1,337$888$573$362$224$134
37 years$1,287$843$537$333$203$119
38 years$1,239$802$503$307$184$106
39 years$1,194$762$471$283$167$95
40 years$1,151$725$441$261$152$84
41 years$1,111$690$414$241$138$75
42 years$1,072$657$388$223$125$67
43 years$1,035$626$364$205$113$60
44 years$1,000$597$342$190$103$53
45 years$967$569$321$175$93$47
46 years$935$543$302$162$85$42
47 years$905$518$283$150$77$38
48 years$876$495$266$138$70$34
49 years$849$473$250$128$64$30
50 years$822$451$235$118$58$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $842,000, adding $4,577 every year, while hoping to spend $34,611 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: 53/27/20 Blend
61$842,000$842,000$842,000$842,000
62$932,605$887,979$874,928$976,698
63$990,905$894,664$867,412$1,014,163
64$1,053,992$900,517$858,485$1,050,907
65$1,122,316$905,460$848,062$1,090,147
66$1,196,376$909,411$836,055$1,132,131
67$1,276,716$912,282$822,373$1,177,134
68$1,363,939$913,981$806,920$1,225,461
69$1,458,703$914,408$789,594$1,277,449
70$1,561,735$913,460$770,290$1,333,471
71$1,673,836$911,023$748,899$1,393,939
72$1,795,885$906,980$725,304$1,459,311
73$1,928,849$901,206$699,386$1,530,091
74$2,073,793$893,567$671,017$1,606,836
75$2,231,890$883,922$640,066$1,690,166
76$2,404,430$872,121$606,396$1,780,762
77$2,592,833$858,006$569,861$1,879,380
78$2,798,663$841,409$530,312$1,986,853
79$3,023,640$822,151$487,591$2,104,105
80$3,269,659$800,045$441,533$2,232,155
81$3,538,806$774,890$391,967$2,372,129
82$3,833,380$746,474$338,713$2,525,272
83$4,155,909$714,576$281,584$2,692,959
84$4,509,179$678,957$220,384$2,876,712
85$4,896,257$639,368$154,909$3,078,207
86$5,320,523$595,545$84,946$3,299,300
87$5,785,696$547,206$10,272$3,542,038
88$6,295,875$494,057$0$3,808,683
89$6,855,574$435,785$0$4,116,548
90$7,469,763$372,060$0$4,456,878
91$8,143,920$302,532$0$4,830,578
92$8,884,077$226,833$0$5,241,066
93$9,696,878$144,573$0$5,692,114
94$10,589,643$55,341$0$6,187,879
95$11,570,437$0$0$6,732,948
96$12,648,142$0$0$7,344,648
97$13,832,544$0$0$8,035,068
98$15,134,427$0$0$8,794,060
99$16,565,666$0$0$9,628,561
100$18,139,349$0$0$10,546,213