Can I retire at age 62 with 845,000?

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 $845,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.7%
1 years$69,779$69,158$68,551$67,959$67,381$64,759
2 years$34,544$33,901$33,277$32,673$32,086$29,476
3 years$22,801$22,155$21,533$20,934$20,357$17,841
4 years$16,930$16,286$15,670$15,082$14,519$12,116
5 years$13,409$12,768$12,161$11,584$11,037$8,754
6 years$11,062$10,426$9,828$9,264$8,733$6,571
7 years$9,386$8,756$8,167$7,616$7,102$5,061
8 years$8,130$7,506$6,926$6,389$5,892$3,969
9 years$7,153$6,535$5,965$5,442$4,962$3,154
10 years$6,373$5,760$5,201$4,691$4,228$2,532
11 years$5,734$5,128$4,579$4,083$3,636$2,048
12 years$5,203$4,603$4,064$3,581$3,151$1,667
13 years$4,753$4,159$3,630$3,162$2,748$1,363
14 years$4,368$3,781$3,262$2,807$2,409$1,119
15 years$4,035$3,454$2,945$2,503$2,121$922
16 years$3,744$3,169$2,670$2,241$1,874$761
17 years$3,487$2,918$2,430$2,014$1,662$630
18 years$3,259$2,697$2,218$1,815$1,478$522
19 years$3,055$2,499$2,031$1,640$1,317$433
20 years$2,872$2,322$1,864$1,485$1,176$360
21 years$2,706$2,163$1,714$1,348$1,053$299
22 years$2,556$2,019$1,580$1,225$944$249
23 years$2,419$1,889$1,459$1,116$847$207
24 years$2,294$1,770$1,349$1,018$761$173
25 years$2,179$1,661$1,249$930$685$144
26 years$2,072$1,561$1,159$850$617$120
27 years$1,974$1,469$1,076$778$556$100
28 years$1,883$1,384$1,000$713$502$84
29 years$1,799$1,306$931$654$453$70
30 years$1,720$1,233$867$600$410$58
31 years$1,647$1,166$808$551$370$49
32 years$1,578$1,103$754$506$335$41
33 years$1,513$1,045$704$466$303$34
34 years$1,453$990$658$428$274$28
35 years$1,396$939$615$394$249$24
36 years$1,342$891$575$363$225$20
37 years$1,291$846$539$335$204$16
38 years$1,244$804$504$308$185$14
39 years$1,198$765$473$284$168$11
40 years$1,155$728$443$262$152$10
41 years$1,115$693$415$242$138$8
42 years$1,076$660$390$223$125$7
43 years$1,039$629$366$206$114$6
44 years$1,004$599$343$190$103$5
45 years$971$571$322$176$94$4
46 years$939$545$303$162$85$3
47 years$908$520$284$150$77$3
48 years$879$497$267$139$70$2
49 years$852$474$251$128$64$2
50 years$825$453$236$118$58$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $845,000, adding $5,072 every year, while hoping to spend $48,334 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: 57/18/25 Blend
61$845,000$845,000$845,000$845,000
62$936,422$891,637$878,539$983,161
63$980,510$883,900$856,543$1,007,979
64$1,027,475$874,164$832,191$1,029,471
65$1,077,559$862,280$805,351$1,051,879
66$1,131,029$848,090$775,889$1,075,303
67$1,188,174$831,427$743,662$1,099,859
68$1,249,315$812,114$708,521$1,125,676
69$1,314,800$789,962$670,311$1,152,897
70$1,385,013$764,774$628,870$1,181,685
71$1,460,375$736,339$584,028$1,212,219
72$1,541,348$704,435$535,608$1,244,703
73$1,628,439$668,825$483,424$1,279,363
74$1,722,204$629,262$427,283$1,316,451
75$1,823,255$585,482$366,983$1,356,250
76$1,932,262$537,205$302,312$1,399,074
77$2,049,964$484,140$233,051$1,445,275
78$2,177,171$425,973$158,968$1,495,243
79$2,314,773$362,376$79,824$1,549,413
80$2,463,749$293,002$0$1,608,271
81$2,625,177$217,485$0$1,673,594
82$2,800,239$135,436$0$1,767,547
83$2,990,238$46,446$0$1,869,555
84$3,196,604$0$0$1,980,435
85$3,420,912$0$0$2,110,977
86$3,664,895$0$0$2,263,040
87$3,930,458$0$0$2,428,622
88$4,219,699$0$0$2,609,037
89$4,534,924$0$0$2,805,735
90$4,878,674$0$0$3,020,309
91$5,253,745$0$0$3,254,514
92$5,663,211$0$0$3,510,281
93$6,110,462$0$0$3,789,736
94$6,599,224$0$0$4,095,220
95$7,133,603$0$0$4,429,309
96$7,718,119$0$0$4,794,842
97$8,357,747$0$0$5,194,941
98$9,057,968$0$0$5,633,049
99$9,824,814$0$0$6,112,952
100$10,664,931$0$0$6,638,823