Can I retire at age 62 with 863,000?

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 $863,000?

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$71,266$70,631$70,012$69,407$68,817$67,126
2 years$35,280$34,623$33,986$33,369$32,770$31,077
3 years$23,286$22,627$21,991$21,380$20,791$19,148
4 years$17,291$16,633$16,004$15,403$14,828$13,249
5 years$13,694$13,040$12,420$11,831$11,272$9,761
6 years$11,297$10,648$10,037$9,461$8,919$7,477
7 years$9,586$8,943$8,341$7,779$7,254$5,881
8 years$8,303$7,665$7,074$6,525$6,018$4,714
9 years$7,306$6,674$6,093$5,558$5,068$3,832
10 years$6,508$5,883$5,312$4,791$4,318$3,148
11 years$5,856$5,237$4,676$4,170$3,714$2,609
12 years$5,314$4,701$4,150$3,657$3,218$2,176
13 years$4,855$4,248$3,708$3,229$2,806$1,825
14 years$4,461$3,861$3,331$2,866$2,460$1,537
15 years$4,121$3,527$3,008$2,556$2,166$1,299
16 years$3,823$3,236$2,727$2,289$1,914$1,102
17 years$3,561$2,981$2,482$2,056$1,697$937
18 years$3,328$2,754$2,265$1,853$1,509$798
19 years$3,120$2,553$2,074$1,675$1,345$681
20 years$2,933$2,372$1,903$1,517$1,202$582
21 years$2,764$2,209$1,751$1,376$1,075$498
22 years$2,611$2,062$1,613$1,252$964$426
23 years$2,471$1,929$1,490$1,140$865$366
24 years$2,343$1,807$1,378$1,040$778$314
25 years$2,225$1,696$1,276$949$700$269
26 years$2,117$1,594$1,184$868$630$231
27 years$2,016$1,500$1,099$795$568$199
28 years$1,923$1,414$1,022$728$513$171
29 years$1,837$1,334$951$668$463$147
30 years$1,757$1,259$886$613$418$127
31 years$1,682$1,191$826$563$378$109
32 years$1,611$1,126$770$517$342$94
33 years$1,546$1,067$719$476$310$81
34 years$1,484$1,011$672$438$280$70
35 years$1,425$959$628$403$254$60
36 years$1,371$910$588$371$230$52
37 years$1,319$864$550$342$209$44
38 years$1,270$822$515$315$189$38
39 years$1,224$781$483$290$171$33
40 years$1,180$743$452$268$155$28
41 years$1,138$708$424$247$141$25
42 years$1,099$674$398$228$128$21
43 years$1,061$642$373$211$116$18
44 years$1,025$612$350$194$105$16
45 years$991$584$329$180$96$14
46 years$959$557$309$166$87$12
47 years$928$531$290$153$79$10
48 years$898$507$273$142$72$9
49 years$870$484$256$131$65$7
50 years$843$463$241$121$59$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $863,000, adding $6,134 every year, while hoping to spend $35,752 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: 36/35/29 Blend
61$863,000$863,000$863,000$863,000
62$957,353$911,614$898,238$983,313
63$1,016,963$918,243$890,289$1,009,834
64$1,081,456$923,999$880,875$1,034,788
65$1,151,290$928,801$869,911$1,061,048
66$1,226,972$932,563$857,304$1,088,757
67$1,309,060$935,195$842,959$1,118,073
68$1,398,163$936,599$826,778$1,149,174
69$1,494,956$936,672$808,655$1,182,257
70$1,600,178$935,306$788,481$1,217,545
71$1,714,644$932,384$766,144$1,255,283
72$1,839,250$927,783$741,522$1,295,745
73$1,974,982$921,372$714,491$1,339,239
74$2,122,924$913,014$684,921$1,386,103
75$2,284,271$902,561$652,674$1,436,717
76$2,460,337$889,856$617,609$1,491,502
77$2,652,569$874,736$579,576$1,550,928
78$2,862,558$857,026$538,419$1,615,515
79$3,092,058$836,539$493,975$1,685,841
80$3,342,999$813,081$446,075$1,762,550
81$3,617,506$786,442$394,539$1,846,355
82$3,917,918$756,405$339,183$1,938,049
83$4,246,812$722,736$279,812$2,038,509
84$4,607,026$685,188$216,225$2,148,711
85$5,001,683$643,503$148,209$2,269,736
86$5,434,224$597,404$75,543$2,402,780
87$5,908,440$546,601$0$2,549,173
88$6,428,503$490,787$0$2,711,004
89$6,999,010$429,636$0$2,914,270
90$7,625,025$362,804$0$3,137,452
91$8,312,126$289,930$0$3,382,629
92$9,066,455$210,629$0$3,652,096
93$9,894,781$124,496$0$3,948,391
94$10,804,557$31,105$0$4,274,311
95$11,803,997$0$0$4,632,950
96$12,902,146$0$0$5,054,678
97$14,108,973$0$0$5,531,438
98$15,435,456$0$0$6,055,605
99$16,893,693$0$0$6,631,977
100$18,497,010$0$0$7,265,837