Can I retire at age 62 with 843,000?

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 $843,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.3%
1 years$69,614$68,994$68,389$67,799$67,222$65,491
2 years$34,462$33,821$33,199$32,595$32,010$30,278
3 years$22,747$22,102$21,482$20,884$20,309$18,629
4 years$16,890$16,247$15,633$15,046$14,484$12,870
5 years$13,377$12,738$12,132$11,557$11,011$9,467
6 years$11,036$10,402$9,804$9,242$8,712$7,240
7 years$9,364$8,735$8,148$7,598$7,086$5,685
8 years$8,111$7,488$6,910$6,374$5,878$4,549
9 years$7,137$6,519$5,951$5,429$4,950$3,691
10 years$6,358$5,747$5,189$4,680$4,218$3,027
11 years$5,721$5,116$4,568$4,073$3,628$2,503
12 years$5,190$4,592$4,054$3,573$3,144$2,084
13 years$4,742$4,150$3,622$3,154$2,741$1,744
14 years$4,358$3,772$3,254$2,800$2,403$1,466
15 years$4,025$3,446$2,938$2,497$2,116$1,237
16 years$3,735$3,161$2,664$2,236$1,870$1,046
17 years$3,479$2,911$2,424$2,009$1,658$888
18 years$3,251$2,690$2,213$1,810$1,474$754
19 years$3,048$2,493$2,026$1,636$1,314$642
20 years$2,865$2,317$1,859$1,482$1,174$548
21 years$2,700$2,158$1,710$1,345$1,050$468
22 years$2,550$2,015$1,576$1,223$941$400
23 years$2,413$1,884$1,455$1,113$845$342
24 years$2,288$1,765$1,346$1,015$760$293
25 years$2,173$1,657$1,247$927$684$251
26 years$2,067$1,557$1,156$848$616$215
27 years$1,970$1,465$1,074$776$555$184
28 years$1,879$1,381$998$711$501$158
29 years$1,795$1,303$929$652$452$136
30 years$1,716$1,230$865$598$409$116
31 years$1,643$1,163$806$550$369$100
32 years$1,574$1,100$752$505$334$86
33 years$1,510$1,042$703$465$302$74
34 years$1,449$988$656$427$274$63
35 years$1,392$937$614$393$248$54
36 years$1,339$889$574$362$225$47
37 years$1,288$844$537$334$204$40
38 years$1,241$803$503$308$185$34
39 years$1,195$763$471$284$167$30
40 years$1,153$726$442$262$152$25
41 years$1,112$691$414$241$138$22
42 years$1,073$658$389$223$125$19
43 years$1,037$627$365$206$113$16
44 years$1,002$598$342$190$103$14
45 years$968$570$321$175$94$12
46 years$937$544$302$162$85$10
47 years$906$519$284$150$77$9
48 years$877$495$267$138$70$8
49 years$850$473$251$128$64$7
50 years$823$452$236$118$58$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $843,000, adding $3,648 every year, while hoping to spend $28,526 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: 50/23/27 Blend
61$843,000$843,000$843,000$843,000
62$932,749$888,070$875,003$972,106
63$997,538$901,234$873,965$1,013,124
64$1,067,979$914,087$871,935$1,054,540
65$1,144,619$926,583$868,851$1,098,994
66$1,228,060$938,675$864,647$1,146,786
67$1,318,961$950,310$859,252$1,198,249
68$1,418,053$961,432$852,594$1,253,752
69$1,526,135$971,984$844,597$1,313,699
70$1,644,090$981,900$835,181$1,378,539
71$1,772,889$991,115$824,261$1,448,768
72$1,913,600$999,556$811,749$1,524,932
73$2,067,399$1,007,146$797,555$1,607,637
74$2,235,583$1,013,805$781,582$1,697,548
75$2,419,576$1,019,445$763,729$1,795,403
76$2,620,949$1,023,974$743,890$1,902,016
77$2,841,432$1,027,295$721,956$2,018,284
78$3,082,928$1,029,302$697,812$2,145,201
79$3,347,534$1,029,886$671,336$2,283,860
80$3,637,560$1,028,927$642,403$2,435,471
81$3,955,548$1,026,302$610,881$2,601,369
82$4,304,300$1,021,877$576,632$2,783,026
83$4,686,902$1,015,512$539,512$2,982,068
84$5,106,751$1,007,057$499,371$3,200,291
85$5,567,591$996,355$456,051$3,439,674
86$6,073,546$983,236$409,389$3,702,404
87$6,629,156$967,523$359,212$3,990,892
88$7,239,426$949,028$305,342$4,307,800
89$7,909,868$927,551$247,591$4,656,064
90$8,646,553$902,880$185,764$5,038,926
91$9,456,172$874,791$119,658$5,459,960
92$10,346,093$843,047$49,058$5,923,109
93$11,324,436$807,398$0$6,432,727
94$12,400,146$767,578$0$7,001,184
95$13,583,078$723,306$0$7,641,778
96$14,884,089$674,286$0$8,346,273
97$16,315,143$620,203$0$9,121,182
98$17,889,420$560,725$0$9,973,689
99$19,621,443$495,502$0$10,911,709
100$21,527,212$424,164$0$11,943,969