Can I retire at age 62 with 850,000?

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 $850,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$70,192$69,567$68,957$68,362$67,780$67,438
2 years$34,749$34,101$33,474$32,866$32,276$31,931
3 years$22,936$22,286$21,660$21,058$20,477$20,139
4 years$17,030$16,382$15,763$15,171$14,605$14,277
5 years$13,488$12,844$12,233$11,653$11,102$10,786
6 years$11,127$10,488$9,886$9,319$8,785$8,480
7 years$9,442$8,808$8,215$7,661$7,144$6,851
8 years$8,178$7,550$6,967$6,427$5,927$5,645
9 years$7,196$6,574$6,001$5,474$4,991$4,721
10 years$6,410$5,794$5,232$4,719$4,253$3,994
11 years$5,768$5,158$4,606$4,107$3,658$3,410
12 years$5,234$4,630$4,088$3,602$3,170$2,933
13 years$4,781$4,184$3,652$3,180$2,764$2,539
14 years$4,394$3,803$3,281$2,823$2,423$2,208
15 years$4,059$3,474$2,963$2,518$2,133$1,929
16 years$3,766$3,188$2,686$2,254$1,885$1,691
17 years$3,507$2,936$2,444$2,026$1,672$1,487
18 years$3,278$2,713$2,231$1,825$1,486$1,312
19 years$3,073$2,514$2,043$1,649$1,325$1,159
20 years$2,889$2,336$1,875$1,494$1,183$1,027
21 years$2,722$2,176$1,724$1,356$1,059$911
22 years$2,571$2,031$1,589$1,233$949$809
23 years$2,433$1,900$1,467$1,123$852$720
24 years$2,307$1,780$1,357$1,024$766$641
25 years$2,191$1,670$1,257$935$689$572
26 years$2,085$1,570$1,166$855$621$510
27 years$1,986$1,478$1,082$783$560$456
28 years$1,894$1,392$1,006$717$505$407
29 years$1,809$1,313$936$658$456$364
30 years$1,730$1,240$872$603$412$326
31 years$1,656$1,173$813$554$373$292
32 years$1,587$1,109$759$509$337$262
33 years$1,522$1,051$708$468$305$234
34 years$1,461$996$662$431$276$210
35 years$1,404$945$619$397$250$188
36 years$1,350$897$579$365$227$169
37 years$1,299$851$542$337$205$152
38 years$1,251$809$507$310$186$136
39 years$1,205$769$475$286$169$122
40 years$1,162$732$446$264$153$110
41 years$1,121$697$418$243$139$99
42 years$1,082$664$392$225$126$88
43 years$1,045$632$368$207$114$79
44 years$1,010$603$345$192$104$71
45 years$976$575$324$177$94$64
46 years$944$548$304$163$86$58
47 years$914$523$286$151$78$52
48 years$885$500$269$139$71$47
49 years$857$477$253$129$64$42
50 years$830$456$238$119$58$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $850,000, adding $2,488 every year, while hoping to spend $46,914 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: 69/17/14 Blend
61$850,000$850,000$850,000$850,000
62$939,266$894,216$881,041$1,000,929
63$985,155$888,117$860,640$1,036,159
64$1,034,153$880,146$837,983$1,068,847
65$1,086,526$870,163$812,945$1,103,403
66$1,142,568$858,017$785,395$1,140,004
67$1,202,601$843,551$755,197$1,178,847
68$1,266,977$826,596$722,207$1,220,149
69$1,336,084$806,974$686,276$1,264,151
70$1,410,345$784,497$647,247$1,311,120
71$1,490,228$758,965$604,957$1,361,352
72$1,576,243$730,166$559,235$1,415,174
73$1,668,954$697,878$509,903$1,472,946
74$1,768,976$661,863$456,774$1,535,071
75$1,876,990$621,872$399,654$1,601,990
76$1,993,739$577,640$338,339$1,674,195
77$2,120,044$528,888$272,617$1,752,227
78$2,256,805$475,320$202,266$1,836,688
79$2,405,011$416,623$127,054$1,928,240
80$2,565,752$352,467$46,740$2,027,618
81$2,740,224$282,503$0$2,135,633
82$2,929,745$206,364$0$2,259,005
83$3,135,762$123,659$0$2,400,734
84$3,359,870$33,978$0$2,554,969
85$3,603,820$0$0$2,722,965
86$3,869,543$0$0$2,917,914
87$4,159,161$0$0$3,137,364
88$4,475,009$0$0$3,376,736
89$4,819,661$0$0$3,637,984
90$5,195,945$0$0$3,923,259
91$5,606,977$0$0$4,234,929
92$6,056,187$0$0$4,575,602
93$6,547,352$0$0$4,948,148
94$7,084,629$0$0$5,355,727
95$7,672,596$0$0$5,801,820
96$8,316,293$0$0$6,290,258
97$9,021,272$0$0$6,825,261
98$9,793,645$0$0$7,411,477
99$10,640,145$0$0$8,054,023
100$11,568,185$0$0$8,758,535