Can I retire at age 62 with 879,000?

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 $879,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.7%
1 years$72,587$71,940$71,310$70,694$70,093$67,633
2 years$35,934$35,265$34,616$33,987$33,377$30,925
3 years$23,718$23,046$22,399$21,776$21,176$18,808
4 years$17,611$16,941$16,301$15,688$15,103$12,837
5 years$13,948$13,282$12,650$12,050$11,481$9,324
6 years$11,507$10,846$10,223$9,637$9,085$7,038
7 years$9,764$9,108$8,495$7,923$7,388$5,451
8 years$8,457$7,808$7,205$6,646$6,129$4,300
9 years$7,441$6,798$6,206$5,661$5,162$3,439
10 years$6,629$5,992$5,410$4,880$4,398$2,778
11 years$5,965$5,334$4,763$4,247$3,782$2,262
12 years$5,412$4,788$4,227$3,725$3,278$1,853
13 years$4,945$4,327$3,777$3,289$2,858$1,526
14 years$4,544$3,933$3,393$2,919$2,506$1,262
15 years$4,197$3,593$3,064$2,604$2,206$1,047
16 years$3,894$3,296$2,778$2,331$1,950$870
17 years$3,627$3,036$2,528$2,095$1,729$725
18 years$3,390$2,805$2,307$1,888$1,537$606
19 years$3,178$2,600$2,112$1,706$1,370$506
20 years$2,987$2,416$1,939$1,545$1,224$424
21 years$2,815$2,250$1,783$1,402$1,095$355
22 years$2,659$2,101$1,643$1,275$982$298
23 years$2,516$1,965$1,517$1,161$881$250
24 years$2,386$1,841$1,403$1,059$792$210
25 years$2,266$1,727$1,300$967$713$177
26 years$2,156$1,624$1,205$884$642$148
27 years$2,054$1,528$1,119$809$579$125
28 years$1,959$1,440$1,041$742$522$105
29 years$1,871$1,358$968$680$472$88
30 years$1,789$1,283$902$624$426$74
31 years$1,713$1,213$841$573$385$63
32 years$1,641$1,147$785$527$348$53
33 years$1,574$1,087$733$484$315$44
34 years$1,511$1,030$684$446$286$37
35 years$1,452$977$640$410$259$31
36 years$1,396$927$599$378$234$26
37 years$1,343$881$560$348$212$22
38 years$1,294$837$525$321$193$19
39 years$1,246$796$492$296$175$16
40 years$1,202$757$461$273$158$13
41 years$1,159$721$432$252$144$11
42 years$1,119$686$405$232$130$9
43 years$1,081$654$380$214$118$8
44 years$1,044$623$357$198$107$7
45 years$1,010$594$335$183$97$6
46 years$977$567$315$169$89$5
47 years$945$541$296$156$80$4
48 years$915$517$278$144$73$3
49 years$886$493$261$133$66$3
50 years$858$471$246$123$60$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $879,000, adding $6,034 every year, while hoping to spend $41,570 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: 56/35/9 Blend
61$879,000$879,000$879,000$879,000
62$974,882$928,295$914,671$1,027,040
63$1,030,090$929,551$901,082$1,064,206
64$1,089,536$929,476$885,645$1,099,536
65$1,153,608$927,960$868,253$1,137,012
66$1,222,733$924,887$848,797$1,176,848
67$1,297,379$920,134$827,159$1,219,274
68$1,378,063$913,571$803,220$1,264,551
69$1,465,349$905,060$776,852$1,312,965
70$1,559,860$894,454$747,922$1,364,835
71$1,662,280$881,596$716,291$1,420,511
72$1,773,362$866,323$681,816$1,480,386
73$1,893,932$848,460$644,344$1,544,890
74$2,024,900$827,822$603,717$1,614,504
75$2,167,267$804,213$559,769$1,689,757
76$2,322,134$777,425$512,327$1,771,237
77$2,490,713$747,240$461,211$1,859,594
78$2,674,336$713,425$406,231$1,955,549
79$2,874,470$675,734$347,192$2,059,897
80$3,092,729$633,908$283,886$2,173,521
81$3,330,890$587,672$216,099$2,297,397
82$3,590,908$536,736$143,606$2,432,603
83$3,874,937$480,792$66,173$2,580,335
84$4,185,346$419,517$0$2,741,913
85$4,524,744$352,566$0$2,920,379
86$4,896,005$279,579$0$3,122,650
87$5,302,291$200,172$0$3,344,178
88$5,747,086$113,941$0$3,586,964
89$6,234,224$20,459$0$3,853,217
90$6,767,929$0$0$4,145,380
91$7,352,854$0$0$4,497,236
92$7,994,121$0$0$4,891,704
93$8,697,372$0$0$5,324,383
94$9,468,823$0$0$5,799,108
95$10,315,317$0$0$6,320,101
96$11,244,395$0$0$6,892,014
97$12,264,362$0$0$7,519,972
98$13,384,365$0$0$8,209,617
99$14,614,485$0$0$8,967,169
100$15,965,821$0$0$9,799,476