Can I retire at age 62 with 862,000?

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 $862,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.3%
1 years$71,183$70,549$69,930$69,327$68,737$67,794
2 years$35,239$34,583$33,947$33,330$32,732$31,783
3 years$23,259$22,600$21,966$21,355$20,766$19,842
4 years$17,271$16,614$15,986$15,385$14,811$13,918
5 years$13,678$13,025$12,405$11,817$11,259$10,399
6 years$11,284$10,636$10,025$9,450$8,909$8,084
7 years$9,575$8,932$8,331$7,770$7,245$6,456
8 years$8,294$7,657$7,065$6,518$6,011$5,256
9 years$7,297$6,666$6,086$5,552$5,062$4,342
10 years$6,501$5,876$5,305$4,786$4,313$3,627
11 years$5,850$5,231$4,671$4,165$3,709$3,057
12 years$5,307$4,695$4,145$3,653$3,214$2,595
13 years$4,849$4,243$3,704$3,225$2,803$2,215
14 years$4,456$3,857$3,328$2,863$2,457$1,901
15 years$4,116$3,523$3,004$2,553$2,163$1,637
16 years$3,819$3,233$2,724$2,286$1,912$1,415
17 years$3,557$2,977$2,479$2,054$1,695$1,226
18 years$3,324$2,751$2,263$1,851$1,507$1,065
19 years$3,117$2,550$2,071$1,673$1,344$927
20 years$2,930$2,369$1,901$1,515$1,200$809
21 years$2,761$2,207$1,749$1,375$1,074$706
22 years$2,608$2,060$1,612$1,250$963$618
23 years$2,468$1,927$1,488$1,138$864$541
24 years$2,340$1,805$1,376$1,038$777$474
25 years$2,222$1,694$1,275$948$699$416
26 years$2,114$1,592$1,182$867$630$365
27 years$2,014$1,498$1,098$794$568$321
28 years$1,921$1,412$1,020$727$512$282
29 years$1,835$1,332$950$667$462$248
30 years$1,755$1,258$885$612$418$218
31 years$1,680$1,189$825$562$378$192
32 years$1,609$1,125$769$517$342$169
33 years$1,544$1,066$718$475$309$149
34 years$1,482$1,010$671$437$280$131
35 years$1,424$958$628$402$254$115
36 years$1,369$909$587$371$230$102
37 years$1,317$863$549$341$208$90
38 years$1,269$821$515$315$189$79
39 years$1,222$780$482$290$171$70
40 years$1,178$742$452$268$155$61
41 years$1,137$707$424$247$141$54
42 years$1,097$673$397$228$128$48
43 years$1,060$641$373$210$116$42
44 years$1,024$611$350$194$105$37
45 years$990$583$329$179$96$33
46 years$958$556$309$166$87$29
47 years$927$531$290$153$79$26
48 years$897$507$273$141$72$23
49 years$869$484$256$131$65$20
50 years$842$462$241$121$59$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $862,000, adding $2,243 every year, while hoping to spend $58,634 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: 31/46/23 Blend
61$862,000$862,000$862,000$862,000
62$952,238$906,552$893,191$974,924
63$986,980$888,587$860,726$974,409
64$1,023,300$867,776$825,209$968,454
65$1,061,299$843,919$786,476$960,841
66$1,101,082$816,801$744,353$951,463
67$1,142,766$786,199$698,663$940,209
68$1,186,478$751,872$649,218$926,962
69$1,232,353$713,568$595,821$911,600
70$1,280,540$671,020$538,268$893,996
71$1,331,201$623,946$476,346$874,020
72$1,384,510$572,046$409,830$851,533
73$1,440,660$515,006$338,489$826,392
74$1,499,857$452,490$262,078$798,452
75$1,562,327$384,148$180,343$767,557
76$1,628,319$309,605$93,019$733,550
77$1,698,101$228,469$0$696,268
78$1,771,966$140,323$0$655,583
79$1,850,237$44,729$0$635,643
80$1,933,264$0$0$613,494
81$2,021,430$0$0$618,780
82$2,115,154$0$0$648,537
83$2,214,896$0$0$680,278
84$2,321,157$0$0$714,173
85$2,434,488$0$0$750,408
86$2,555,491$0$0$789,185
87$2,684,825$0$0$830,728
88$2,823,215$0$0$875,281
89$2,971,453$0$0$923,113
90$3,130,410$0$0$974,518
91$3,301,041$0$0$1,029,820
92$3,484,393$0$0$1,089,373
93$3,681,616$0$0$1,153,568
94$3,893,973$0$0$1,222,833
95$4,122,851$0$0$1,297,638
96$4,369,773$0$0$1,378,501
97$4,636,412$0$0$1,465,990
98$4,924,607$0$0$1,560,729
99$5,236,380$0$0$1,663,406
100$5,573,951$0$0$1,774,776