Can I retire at age 62 with 858,000?

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 $858,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.6%
1 years$70,853$70,222$69,606$69,005$68,418$67,958
2 years$35,076$34,422$33,789$33,175$32,580$32,116
3 years$23,151$22,495$21,864$21,256$20,670$20,217
4 years$17,191$16,537$15,911$15,314$14,742$14,303
5 years$13,615$12,965$12,348$11,762$11,207$10,783
6 years$11,232$10,587$9,979$9,406$8,867$8,459
7 years$9,531$8,891$8,293$7,734$7,212$6,819
8 years$8,255$7,621$7,033$6,487$5,983$5,606
9 years$7,264$6,635$6,057$5,526$5,038$4,678
10 years$6,471$5,849$5,281$4,763$4,293$3,948
11 years$5,823$5,207$4,649$4,146$3,692$3,363
12 years$5,283$4,673$4,126$3,636$3,199$2,885
13 years$4,826$4,223$3,686$3,210$2,790$2,491
14 years$4,436$3,839$3,312$2,850$2,446$2,161
15 years$4,097$3,507$2,990$2,541$2,153$1,883
16 years$3,801$3,218$2,711$2,276$1,903$1,646
17 years$3,541$2,963$2,467$2,045$1,687$1,444
18 years$3,309$2,738$2,252$1,843$1,500$1,269
19 years$3,102$2,538$2,062$1,665$1,337$1,119
20 years$2,916$2,358$1,892$1,508$1,195$988
21 years$2,748$2,197$1,740$1,369$1,069$874
22 years$2,595$2,050$1,604$1,244$958$774
23 years$2,456$1,918$1,481$1,133$860$687
24 years$2,329$1,797$1,370$1,034$773$610
25 years$2,212$1,686$1,269$944$696$542
26 years$2,104$1,585$1,177$863$627$482
27 years$2,005$1,491$1,093$790$565$429
28 years$1,912$1,405$1,016$724$510$383
29 years$1,826$1,326$945$664$460$341
30 years$1,747$1,252$880$609$416$304
31 years$1,672$1,184$821$559$376$272
32 years$1,602$1,120$766$514$340$242
33 years$1,537$1,061$715$473$308$217
34 years$1,475$1,005$668$435$279$193
35 years$1,417$953$625$400$252$173
36 years$1,363$905$584$369$229$155
37 years$1,311$859$547$340$207$138
38 years$1,263$817$512$313$188$124
39 years$1,217$777$480$289$170$111
40 years$1,173$739$450$266$155$99
41 years$1,132$703$422$246$140$89
42 years$1,092$670$396$227$127$79
43 years$1,055$638$371$209$115$71
44 years$1,019$608$348$193$105$64
45 years$986$580$327$179$95$57
46 years$953$553$307$165$86$51
47 years$922$528$289$152$78$46
48 years$893$504$271$141$71$41
49 years$865$482$255$130$65$37
50 years$838$460$240$120$59$33

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $858,000, adding $2,745 every year, while hoping to spend $44,365 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: 46/46/8 Blend
61$858,000$858,000$858,000$858,000
62$948,347$902,873$889,574$989,755
63$997,875$899,910$872,171$1,015,602
64$1,050,967$895,315$852,698$1,038,795
65$1,107,941$888,961$831,039$1,062,930
66$1,169,144$880,713$807,072$1,088,108
67$1,234,958$870,429$780,670$1,114,443
68$1,305,802$857,958$751,700$1,142,063
69$1,382,136$843,140$720,024$1,171,114
70$1,464,464$825,804$685,495$1,201,757
71$1,553,342$805,772$647,963$1,234,175
72$1,649,381$782,852$607,267$1,268,572
73$1,753,250$756,844$563,242$1,305,177
74$1,865,685$727,533$515,715$1,344,246
75$1,987,498$694,695$464,504$1,386,066
76$2,119,578$658,091$409,420$1,430,959
77$2,262,905$617,467$350,266$1,479,281
78$2,418,556$572,558$286,835$1,531,434
79$2,587,716$523,080$218,911$1,587,865
80$2,771,688$468,736$146,269$1,649,070
81$2,971,905$409,209$68,674$1,715,607
82$3,189,946$344,167$0$1,788,093
83$3,427,547$273,258$0$1,868,425
84$3,686,619$196,109$0$1,962,497
85$3,969,263$112,328$0$2,065,317
86$4,277,796$21,500$0$2,177,860
87$4,614,765$0$0$2,301,204
88$4,982,974$0$0$2,475,430
89$5,385,512$0$0$2,677,893
90$5,825,779$0$0$2,899,431
91$6,307,517$0$0$3,141,940
92$6,834,850$0$0$3,407,508
93$7,412,315$0$0$3,698,434
94$8,044,911$0$0$4,017,251
95$8,738,144$0$0$4,366,747
96$9,498,074$0$0$4,749,993
97$10,331,380$0$0$5,170,372
98$11,245,414$0$0$5,631,609
99$12,248,278$0$0$6,137,810
100$13,348,892$0$0$6,693,494