Can I retire at age 62 with 860,000?

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 $860,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.9%
1 years$71,018$70,385$69,768$69,166$68,578$66,650
2 years$35,157$34,503$33,868$33,253$32,656$30,728
3 years$23,205$22,548$21,915$21,305$20,718$18,851
4 years$17,231$16,575$15,948$15,349$14,776$12,984
5 years$13,647$12,995$12,377$11,790$11,233$9,521
6 years$11,258$10,611$10,002$9,428$8,888$7,257
7 years$9,553$8,911$8,312$7,752$7,228$5,679
8 years$8,274$7,639$7,049$6,503$5,997$4,528
9 years$7,280$6,651$6,071$5,539$5,050$3,661
10 years$6,486$5,862$5,293$4,774$4,303$2,991
11 years$5,836$5,219$4,660$4,155$3,701$2,464
12 years$5,295$4,684$4,136$3,645$3,207$2,043
13 years$4,838$4,233$3,695$3,218$2,796$1,703
14 years$4,446$3,848$3,320$2,856$2,451$1,426
15 years$4,107$3,515$2,997$2,547$2,158$1,198
16 years$3,810$3,225$2,718$2,281$1,908$1,009
17 years$3,549$2,970$2,473$2,049$1,691$852
18 years$3,317$2,745$2,257$1,847$1,504$721
19 years$3,109$2,544$2,067$1,669$1,340$611
20 years$2,923$2,364$1,897$1,511$1,197$519
21 years$2,754$2,202$1,745$1,372$1,071$441
22 years$2,601$2,055$1,608$1,247$960$375
23 years$2,462$1,922$1,485$1,136$862$319
24 years$2,334$1,801$1,373$1,036$775$272
25 years$2,217$1,690$1,272$946$697$232
26 years$2,109$1,588$1,179$865$628$198
27 years$2,009$1,495$1,095$792$566$169
28 years$1,917$1,409$1,018$725$511$144
29 years$1,831$1,329$947$665$461$123
30 years$1,751$1,255$882$611$417$105
31 years$1,676$1,186$823$561$377$90
32 years$1,606$1,123$768$515$341$77
33 years$1,540$1,063$717$474$309$66
34 years$1,479$1,008$670$436$279$56
35 years$1,421$956$626$401$253$48
36 years$1,366$907$586$370$229$41
37 years$1,314$861$548$341$208$35
38 years$1,266$819$513$314$188$30
39 years$1,219$779$481$289$171$26
40 years$1,176$741$451$267$155$22
41 years$1,134$705$423$246$141$19
42 years$1,095$671$397$227$128$16
43 years$1,057$640$372$210$116$14
44 years$1,022$610$349$194$105$12
45 years$988$582$328$179$95$10
46 years$955$555$308$165$87$9
47 years$925$529$289$153$79$7
48 years$895$505$272$141$71$6
49 years$867$483$256$130$65$5
50 years$840$461$240$121$59$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $860,000, adding $4,642 every year, while hoping to spend $58,623 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: 39/32/29 Blend
61$860,000$860,000$860,000$860,000
62$952,508$906,928$893,598$981,319
63$987,290$888,993$861,159$984,902
64$1,023,654$868,215$825,669$983,047
65$1,061,701$844,391$786,963$979,933
66$1,101,538$817,310$744,870$975,484
67$1,143,282$786,746$699,210$969,620
68$1,187,060$752,459$649,797$962,261
69$1,233,008$714,198$596,433$953,321
70$1,281,277$671,696$538,916$942,714
71$1,332,028$624,669$477,030$930,351
72$1,385,437$572,821$410,553$916,141
73$1,441,697$515,834$339,252$899,990
74$1,501,016$453,376$262,883$881,804
75$1,563,622$385,094$181,192$861,486
76$1,629,763$310,615$93,913$838,938
77$1,699,710$229,546$771$814,062
78$1,773,759$141,472$0$786,759
79$1,852,232$45,954$0$787,449
80$1,935,482$0$0$787,753
81$2,023,894$0$0$807,672
82$2,117,891$0$0$846,112
83$2,217,934$0$0$887,088
84$2,324,528$0$0$930,817
85$2,438,225$0$0$977,533
86$2,559,633$0$0$1,027,495
87$2,689,414$0$0$1,080,986
88$2,828,298$0$0$1,138,317
89$2,977,081$0$0$1,199,828
90$3,136,639$0$0$1,265,894
91$3,307,933$0$0$1,336,924
92$3,492,017$0$0$1,413,370
93$3,690,047$0$0$1,495,725
94$3,903,295$0$0$1,584,534
95$4,133,155$0$0$1,680,393
96$4,381,161$0$0$1,783,958
97$4,648,995$0$0$1,895,950
98$4,938,508$0$0$2,017,161
99$5,251,734$0$0$2,148,462
100$5,590,909$0$0$2,290,811