Can I retire at age 62 with 847,000?

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 $847,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.6%
1 years$69,944$69,321$68,714$68,120$67,541$65,989
2 years$34,626$33,981$33,356$32,750$32,162$30,607
3 years$22,855$22,207$21,584$20,983$20,405$18,895
4 years$16,970$16,325$15,707$15,117$14,553$13,100
5 years$13,440$12,799$12,190$11,612$11,063$9,672
6 years$11,088$10,451$9,851$9,286$8,754$7,425
7 years$9,408$8,777$8,186$7,634$7,119$5,853
8 years$8,149$7,523$6,943$6,404$5,906$4,703
9 years$7,170$6,550$5,980$5,455$4,974$3,832
10 years$6,388$5,774$5,213$4,702$4,238$3,156
11 years$5,748$5,140$4,590$4,092$3,645$2,622
12 years$5,215$4,613$4,073$3,590$3,158$2,193
13 years$4,765$4,169$3,639$3,169$2,754$1,844
14 years$4,379$3,790$3,270$2,813$2,414$1,557
15 years$4,045$3,462$2,952$2,509$2,126$1,320
16 years$3,753$3,176$2,677$2,246$1,879$1,123
17 years$3,495$2,925$2,436$2,018$1,666$957
18 years$3,267$2,703$2,223$1,819$1,481$818
19 years$3,062$2,505$2,035$1,644$1,320$700
20 years$2,879$2,328$1,868$1,489$1,179$600
21 years$2,713$2,168$1,718$1,351$1,055$515
22 years$2,562$2,024$1,584$1,228$946$442
23 years$2,425$1,893$1,462$1,119$849$380
24 years$2,299$1,774$1,352$1,020$763$327
25 years$2,184$1,665$1,252$932$687$282
26 years$2,077$1,564$1,162$852$619$243
27 years$1,979$1,472$1,079$780$558$210
28 years$1,888$1,387$1,003$715$503$181
29 years$1,803$1,309$933$655$454$156
30 years$1,724$1,236$869$601$411$135
31 years$1,650$1,168$810$552$371$116
32 years$1,581$1,106$756$508$336$100
33 years$1,517$1,047$706$467$304$87
34 years$1,456$992$660$429$275$75
35 years$1,399$941$617$395$249$65
36 years$1,345$893$577$364$226$56
37 years$1,294$848$540$335$205$48
38 years$1,246$806$506$309$186$42
39 years$1,201$767$474$285$168$36
40 years$1,158$730$444$263$153$31
41 years$1,117$694$416$243$138$27
42 years$1,078$661$391$224$126$23
43 years$1,041$630$366$207$114$20
44 years$1,006$601$344$191$103$18
45 years$973$573$323$176$94$15
46 years$941$546$303$163$85$13
47 years$911$521$285$150$77$11
48 years$881$498$268$139$70$10
49 years$854$475$252$128$64$8
50 years$827$454$237$119$58$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $847,000, adding $6,848 every year, while hoping to spend $59,466 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: 58/23/19 Blend
61$847,000$847,000$847,000$847,000
62$940,458$895,567$882,438$989,914
63$973,113$876,178$848,729$1,004,890
64$1,007,106$853,846$811,897$1,014,150
65$1,042,511$828,365$771,775$1,022,910
66$1,079,406$799,514$728,188$1,031,135
67$1,117,877$767,062$680,955$1,038,788
68$1,158,016$730,763$629,882$1,045,830
69$1,199,922$690,359$574,771$1,052,223
70$1,243,701$645,574$515,414$1,057,928
71$1,289,470$596,118$451,591$1,062,907
72$1,337,353$541,685$383,076$1,067,121
73$1,387,485$481,949$309,631$1,070,531
74$1,440,013$416,569$231,008$1,073,101
75$1,495,095$345,182$146,948$1,074,792
76$1,552,904$267,405$57,180$1,075,571
77$1,613,627$182,835$0$1,075,404
78$1,677,467$91,044$0$1,082,089
79$1,744,645$0$0$1,100,650
80$1,815,401$0$0$1,121,651
81$1,889,998$0$0$1,168,112
82$1,968,721$0$0$1,217,171
83$2,051,880$0$0$1,269,027
84$2,139,816$0$0$1,323,895
85$2,232,899$0$0$1,382,010
86$2,331,533$0$0$1,443,630
87$2,436,160$0$0$1,509,036
88$2,547,263$0$0$1,578,535
89$2,665,372$0$0$1,652,464
90$2,791,064$0$0$1,731,190
91$2,924,972$0$0$1,815,117
92$3,067,789$0$0$1,904,686
93$3,220,274$0$0$2,000,381
94$3,383,258$0$0$2,102,731
95$3,557,655$0$0$2,212,317
96$3,744,463$0$0$2,329,777
97$3,944,780$0$0$2,455,810
98$4,159,807$0$0$2,591,183
99$4,390,866$0$0$2,736,737
100$4,639,407$0$0$2,893,398