Can I retire at age 62 with 849,000?

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 $849,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16%
1 years$70,110$69,485$68,876$68,281$67,700$66,037
2 years$34,708$34,061$33,435$32,827$32,238$30,573
3 years$22,909$22,259$21,635$21,033$20,453$18,838
4 years$17,010$16,363$15,744$15,153$14,587$13,034
5 years$13,472$12,829$12,218$11,639$11,089$9,602
6 years$11,114$10,476$9,874$9,308$8,774$7,356
7 years$9,431$8,797$8,206$7,652$7,136$5,786
8 years$8,168$7,541$6,959$6,419$5,920$4,637
9 years$7,187$6,566$5,994$5,468$4,985$3,770
10 years$6,403$5,787$5,225$4,713$4,248$3,097
11 years$5,761$5,152$4,600$4,102$3,653$2,566
12 years$5,227$4,624$4,083$3,598$3,166$2,141
13 years$4,776$4,179$3,648$3,177$2,761$1,795
14 years$4,389$3,799$3,277$2,820$2,420$1,512
15 years$4,054$3,470$2,959$2,515$2,131$1,278
16 years$3,761$3,184$2,683$2,252$1,883$1,084
17 years$3,503$2,932$2,441$2,023$1,670$921
18 years$3,274$2,709$2,229$1,823$1,485$785
19 years$3,070$2,511$2,040$1,647$1,323$670
20 years$2,885$2,333$1,872$1,492$1,182$572
21 years$2,719$2,174$1,722$1,354$1,058$490
22 years$2,568$2,029$1,587$1,231$948$420
23 years$2,431$1,898$1,466$1,121$851$360
24 years$2,305$1,778$1,355$1,023$765$309
25 years$2,189$1,668$1,255$934$688$265
26 years$2,082$1,568$1,164$854$620$228
27 years$1,984$1,476$1,081$782$559$196
28 years$1,892$1,391$1,005$716$504$168
29 years$1,807$1,312$935$657$455$145
30 years$1,728$1,239$871$603$412$125
31 years$1,654$1,171$812$554$372$107
32 years$1,585$1,108$758$509$337$92
33 years$1,520$1,049$708$468$305$79
34 years$1,460$995$661$430$276$68
35 years$1,402$943$618$396$250$59
36 years$1,348$895$578$365$226$51
37 years$1,298$850$541$336$205$44
38 years$1,249$808$507$310$186$38
39 years$1,204$769$475$286$169$32
40 years$1,161$731$445$264$153$28
41 years$1,120$696$417$243$139$24
42 years$1,081$663$391$224$126$21
43 years$1,044$632$367$207$114$18
44 years$1,009$602$345$191$104$15
45 years$975$574$324$177$94$13
46 years$943$548$304$163$86$11
47 years$913$523$286$151$78$10
48 years$884$499$268$139$71$9
49 years$856$476$252$129$64$7
50 years$829$455$237$119$58$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $849,000, adding $4,290 every year, while hoping to spend $21,671 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: 24/46/30 Blend
61$849,000$849,000$849,000$849,000
62$940,023$895,026$881,867$953,673
63$1,012,848$915,825$888,351$986,549
64$1,092,374$936,916$894,327$1,019,654
65$1,179,263$958,292$899,754$1,054,674
66$1,274,242$979,942$904,589$1,091,785
67$1,378,111$1,001,856$908,790$1,131,178
68$1,491,753$1,024,021$912,309$1,173,068
69$1,616,138$1,046,424$915,098$1,217,689
70$1,752,336$1,069,051$917,105$1,265,301
71$1,901,523$1,091,883$918,277$1,316,190
72$2,064,997$1,114,904$918,557$1,370,674
73$2,244,184$1,138,092$917,887$1,429,102
74$2,440,659$1,161,426$916,204$1,491,860
75$2,656,152$1,184,882$913,443$1,559,374
76$2,892,571$1,208,434$909,535$1,632,116
77$3,152,019$1,232,052$904,410$1,710,604
78$3,436,809$1,255,706$897,992$1,795,413
79$3,749,491$1,279,363$890,202$1,887,178
80$4,092,873$1,302,987$880,958$1,986,597
81$4,470,050$1,326,537$870,174$2,094,443
82$4,884,430$1,349,972$857,759$2,211,570
83$5,339,767$1,373,246$843,619$2,338,918
84$5,840,198$1,396,309$827,655$2,477,529
85$6,390,279$1,419,110$809,763$2,628,549
86$6,995,032$1,441,591$789,835$2,793,245
87$7,659,988$1,463,691$767,757$2,973,016
88$8,391,240$1,485,345$743,410$3,169,405
89$9,195,503$1,506,484$716,670$3,384,116
90$10,080,174$1,527,031$687,408$3,619,029
91$11,053,403$1,546,907$655,488$3,876,218
92$12,124,171$1,566,026$620,767$4,157,974
93$13,302,371$1,584,296$583,098$4,466,824
94$14,598,907$1,601,620$542,326$4,805,555
95$16,025,789$1,617,894$498,288$5,177,243
96$17,596,254$1,633,005$450,815$5,585,284
97$19,324,885$1,646,835$399,730$6,033,423
98$21,227,752$1,659,259$344,849$6,525,791
99$23,322,560$1,670,140$285,980$7,066,947
100$25,628,821$1,679,336$222,919$7,661,919