Can I retire at age 62 with 846,000?

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 $846,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$69,862$69,240$68,632$68,040$67,461$66,924
2 years$34,585$33,941$33,317$32,711$32,124$31,583
3 years$22,828$22,181$21,558$20,959$20,381$19,852
4 years$16,950$16,305$15,689$15,099$14,536$14,023
5 years$13,425$12,784$12,175$11,598$11,050$10,555
6 years$11,075$10,439$9,839$9,275$8,743$8,268
7 years$9,397$8,766$8,177$7,625$7,111$6,654
8 years$8,140$7,514$6,934$6,397$5,899$5,461
9 years$7,162$6,543$5,973$5,449$4,968$4,549
10 years$6,380$5,767$5,207$4,697$4,233$3,832
11 years$5,741$5,134$4,584$4,088$3,640$3,258
12 years$5,209$4,608$4,068$3,585$3,155$2,790
13 years$4,759$4,164$3,635$3,165$2,751$2,404
14 years$4,373$3,785$3,266$2,810$2,411$2,081
15 years$4,040$3,458$2,949$2,506$2,123$1,810
16 years$3,748$3,173$2,673$2,244$1,877$1,579
17 years$3,491$2,922$2,433$2,016$1,664$1,382
18 years$3,263$2,700$2,221$1,817$1,479$1,213
19 years$3,059$2,502$2,033$1,642$1,319$1,066
20 years$2,875$2,325$1,866$1,487$1,178$940
21 years$2,710$2,166$1,716$1,349$1,054$829
22 years$2,559$2,022$1,582$1,227$945$733
23 years$2,422$1,891$1,460$1,117$848$649
24 years$2,296$1,772$1,351$1,019$762$575
25 years$2,181$1,663$1,251$931$686$510
26 years$2,075$1,563$1,160$851$618$452
27 years$1,977$1,471$1,077$779$557$402
28 years$1,886$1,386$1,002$714$503$357
29 years$1,801$1,307$932$654$454$318
30 years$1,722$1,235$868$601$410$283
31 years$1,648$1,167$809$552$371$252
32 years$1,580$1,104$755$507$335$224
33 years$1,515$1,046$705$466$304$200
34 years$1,454$991$659$429$275$178
35 years$1,397$940$616$395$249$159
36 years$1,344$892$576$364$226$142
37 years$1,293$847$539$335$204$126
38 years$1,245$805$505$309$185$113
39 years$1,200$766$473$285$168$101
40 years$1,157$729$443$263$152$90
41 years$1,116$694$416$242$138$80
42 years$1,077$661$390$224$125$71
43 years$1,040$629$366$206$114$64
44 years$1,005$600$344$191$103$57
45 years$972$572$323$176$94$51
46 years$940$546$303$163$85$45
47 years$909$521$285$150$77$41
48 years$880$497$268$139$70$36
49 years$853$475$251$128$64$32
50 years$826$454$236$119$58$29

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $846,000, adding $4,295 every year, while hoping to spend $39,851 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: 75/9/16 Blend
61$846,000$846,000$846,000$846,000
62$936,722$891,884$878,771$1,003,335
63$989,867$893,185$865,809$1,049,279
64$1,047,096$893,215$851,077$1,094,261
65$1,108,786$891,868$834,473$1,142,493
66$1,175,346$889,034$815,893$1,194,288
67$1,247,230$884,595$795,224$1,249,990
68$1,324,934$878,426$772,350$1,309,978
69$1,409,004$870,396$747,151$1,374,671
70$1,500,041$860,364$719,498$1,444,532
71$1,598,703$848,180$689,260$1,520,069
72$1,705,718$833,687$656,297$1,601,845
73$1,821,882$816,719$620,464$1,690,480
74$1,948,074$797,098$581,609$1,786,657
75$2,085,258$774,637$539,574$1,891,131
76$2,234,498$749,138$494,193$2,004,733
77$2,396,961$720,390$445,293$2,128,381
78$2,573,934$688,171$392,693$2,263,087
79$2,766,831$652,248$336,204$2,409,967
80$2,977,209$612,370$275,628$2,570,253
81$3,206,784$568,275$210,761$2,745,302
82$3,457,441$519,685$141,386$2,936,612
83$3,731,257$466,307$67,280$3,145,835
84$4,030,518$407,829$0$3,374,793
85$4,357,743$343,925$0$3,627,510
86$4,715,702$274,247$0$3,916,576
87$5,107,448$198,428$0$4,232,980
88$5,536,339$116,083$0$4,579,462
89$6,006,078$26,803$0$4,959,043
90$6,520,738$0$0$5,375,049
91$7,084,808$0$0$5,838,063
92$7,703,230$0$0$6,348,636
93$8,381,448$0$0$6,908,614
94$9,125,458$0$0$7,522,950
95$9,941,863$0$0$8,197,103
96$10,837,939$0$0$8,937,084
97$11,821,697$0$0$9,749,516
98$12,901,965$0$0$10,641,692
99$14,088,465$0$0$11,621,648
100$15,391,909$0$0$12,698,237