Can I retire at age 62 with 871,000?

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 $871,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.4%
1 years$71,926$71,286$70,661$70,051$69,455$67,639
2 years$35,607$34,944$34,301$33,678$33,074$31,256
3 years$23,502$22,836$22,195$21,578$20,983$19,222
4 years$17,451$16,787$16,152$15,546$14,965$13,273
5 years$13,821$13,161$12,535$11,941$11,377$9,758
6 years$11,402$10,747$10,130$9,549$9,002$7,459
7 years$9,675$9,025$8,418$7,851$7,321$5,853
8 years$8,380$7,736$7,139$6,586$6,073$4,681
9 years$7,374$6,736$6,149$5,610$5,115$3,795
10 years$6,569$5,937$5,361$4,836$4,358$3,111
11 years$5,911$5,286$4,720$4,208$3,748$2,571
12 years$5,363$4,744$4,189$3,691$3,248$2,139
13 years$4,900$4,287$3,742$3,259$2,832$1,789
14 years$4,503$3,897$3,362$2,893$2,483$1,503
15 years$4,159$3,560$3,036$2,580$2,186$1,267
16 years$3,859$3,266$2,752$2,310$1,932$1,071
17 years$3,594$3,008$2,505$2,076$1,713$908
18 years$3,359$2,780$2,286$1,870$1,523$771
19 years$3,149$2,576$2,093$1,690$1,358$656
20 years$2,960$2,394$1,921$1,531$1,213$559
21 years$2,790$2,230$1,767$1,389$1,085$477
22 years$2,635$2,081$1,628$1,263$973$407
23 years$2,494$1,947$1,504$1,150$873$348
24 years$2,364$1,824$1,391$1,049$785$298
25 years$2,246$1,712$1,288$958$706$255
26 years$2,136$1,609$1,194$876$636$218
27 years$2,035$1,514$1,109$802$574$187
28 years$1,941$1,427$1,031$735$518$160
29 years$1,854$1,346$960$674$467$137
30 years$1,773$1,271$894$618$422$118
31 years$1,697$1,202$833$568$382$101
32 years$1,626$1,137$777$522$345$87
33 years$1,560$1,077$726$480$313$74
34 years$1,497$1,020$678$442$283$64
35 years$1,439$968$634$407$256$55
36 years$1,383$919$593$374$232$47
37 years$1,331$873$555$345$210$40
38 years$1,282$829$520$318$191$35
39 years$1,235$788$487$293$173$30
40 years$1,191$750$457$270$157$26
41 years$1,149$714$428$249$142$22
42 years$1,109$680$402$230$129$19
43 years$1,071$648$377$213$117$16
44 years$1,035$618$354$196$106$14
45 years$1,000$589$332$181$97$12
46 years$968$562$312$167$88$10
47 years$936$536$293$155$80$9
48 years$906$512$275$143$72$8
49 years$878$489$259$132$66$7
50 years$850$467$243$122$60$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $871,000, adding $5,805 every year, while hoping to spend $55,490 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: 82/9/9 Blend
61$871,000$871,000$871,000$871,000
62$965,830$919,667$906,166$1,043,330
63$1,005,304$905,690$877,482$1,080,934
64$1,046,944$889,168$845,977$1,114,241
65$1,090,913$869,918$811,498$1,149,124
66$1,137,388$847,746$773,885$1,185,709
67$1,186,563$822,446$732,971$1,224,137
68$1,238,648$793,802$688,582$1,264,561
69$1,293,874$761,582$640,533$1,307,152
70$1,352,492$725,543$588,634$1,352,097
71$1,414,779$685,428$532,686$1,399,601
72$1,481,036$640,963$472,481$1,449,893
73$1,551,593$591,861$407,800$1,503,222
74$1,626,810$537,817$338,416$1,559,866
75$1,707,084$478,509$264,092$1,620,130
76$1,792,847$413,596$184,579$1,684,351
77$1,884,574$342,720$99,620$1,752,899
78$1,982,787$265,499$8,943$1,826,185
79$2,088,056$181,533$0$1,904,660
80$2,201,008$90,398$0$1,997,258
81$2,322,330$0$0$2,097,560
82$2,452,776$0$0$2,206,171
83$2,593,176$0$0$2,332,718
84$2,744,438$0$0$2,469,072
85$2,907,561$0$0$2,616,133
86$3,083,644$0$0$2,774,894
87$3,273,892$0$0$2,946,444
88$3,479,630$0$0$3,131,980
89$3,702,315$0$0$3,332,818
90$3,943,549$0$0$3,550,405
91$4,205,091$0$0$3,786,331
92$4,488,879$0$0$4,042,346
93$4,797,042$0$0$4,320,374
94$5,131,922$0$0$4,622,530
95$5,496,095$0$0$4,951,143
96$5,892,397$0$0$5,308,774
97$6,323,946$0$0$5,698,240
98$6,794,174$0$0$6,122,643
99$7,306,860$0$0$6,585,395
100$7,866,158$0$0$7,090,252