Can I retire at age 62 with 880,000?

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 $880,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.2%
1 years$72,670$72,022$71,391$70,774$70,172$68,671
2 years$35,975$35,305$34,656$34,026$33,415$31,911
3 years$23,745$23,072$22,425$21,801$21,200$19,738
4 years$17,631$16,961$16,319$15,706$15,120$13,713
5 years$13,964$13,297$12,664$12,064$11,494$10,145
6 years$11,520$10,858$10,235$9,648$9,095$7,805
7 years$9,775$9,119$8,505$7,932$7,397$6,167
8 years$8,467$7,816$7,213$6,654$6,136$4,966
9 years$7,450$6,806$6,213$5,668$5,168$4,056
10 years$6,637$5,999$5,416$4,886$4,403$3,349
11 years$5,972$5,340$4,768$4,252$3,787$2,789
12 years$5,418$4,793$4,232$3,729$3,281$2,339
13 years$4,950$4,332$3,781$3,293$2,862$1,972
14 years$4,549$3,937$3,397$2,923$2,508$1,670
15 years$4,202$3,597$3,067$2,607$2,209$1,420
16 years$3,899$3,300$2,781$2,334$1,952$1,211
17 years$3,631$3,039$2,530$2,097$1,731$1,035
18 years$3,394$2,808$2,310$1,890$1,539$887
19 years$3,182$2,603$2,115$1,708$1,372$761
20 years$2,991$2,419$1,941$1,547$1,225$655
21 years$2,818$2,253$1,785$1,404$1,096$564
22 years$2,662$2,103$1,645$1,276$983$486
23 years$2,519$1,967$1,519$1,162$882$419
24 years$2,389$1,843$1,405$1,060$793$362
25 years$2,269$1,729$1,301$968$714$313
26 years$2,158$1,625$1,207$885$643$270
27 years$2,056$1,530$1,121$810$579$234
28 years$1,961$1,441$1,042$742$523$202
29 years$1,873$1,360$969$681$472$175
30 years$1,791$1,284$903$625$427$152
31 years$1,715$1,214$842$574$386$132
32 years$1,643$1,149$785$527$349$114
33 years$1,576$1,088$733$485$316$99
34 years$1,513$1,031$685$446$286$86
35 years$1,454$978$641$411$259$74
36 years$1,398$928$599$378$235$64
37 years$1,345$882$561$349$213$56
38 years$1,295$838$525$321$193$48
39 years$1,248$797$492$296$175$42
40 years$1,203$758$461$273$159$36
41 years$1,161$721$433$252$144$32
42 years$1,120$687$406$233$131$27
43 years$1,082$655$381$215$118$24
44 years$1,046$624$357$198$108$21
45 years$1,011$595$336$183$98$18
46 years$978$568$315$169$89$16
47 years$946$542$296$156$80$14
48 years$916$517$278$144$73$12
49 years$887$494$262$133$66$10
50 years$859$472$246$123$60$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $880,000, adding $4,612 every year, while hoping to spend $56,078 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: 79/14/7 Blend
61$880,000$880,000$880,000$880,000
62$974,517$927,877$914,237$1,050,377
63$1,014,251$913,677$885,198$1,086,566
64$1,056,159$896,901$853,306$1,118,448
65$1,100,403$877,364$818,407$1,151,746
66$1,147,159$854,871$780,339$1,186,573
67$1,196,622$829,212$738,933$1,223,056
68$1,249,002$800,168$694,012$1,261,333
69$1,304,531$767,507$645,392$1,301,558
70$1,363,459$730,981$592,879$1,343,900
71$1,426,063$690,330$536,271$1,388,546
72$1,492,644$645,278$475,359$1,435,704
73$1,563,532$595,535$409,921$1,485,600
74$1,639,086$540,791$339,728$1,538,489
75$1,719,704$480,721$264,540$1,594,650
76$1,805,818$414,980$184,106$1,654,390
77$1,897,903$343,206$98,165$1,718,052
78$1,996,479$265,013$6,444$1,786,012
79$2,102,118$179,995$0$1,858,687
80$2,215,444$87,725$0$1,943,367
81$2,337,145$0$0$2,034,691
82$2,467,974$0$0$2,134,649
83$2,608,761$0$0$2,256,776
84$2,760,413$0$0$2,388,349
85$2,923,928$0$0$2,530,235
86$3,100,403$0$0$2,683,390
87$3,291,044$0$0$2,848,861
88$3,497,173$0$0$3,027,801
89$3,720,246$0$0$3,221,476
90$3,961,863$0$0$3,431,279
91$4,223,783$0$0$3,658,739
92$4,507,940$0$0$3,905,540
93$4,816,460$0$0$4,173,534
94$5,151,685$0$0$4,464,757
95$5,516,186$0$0$4,781,448
96$5,912,796$0$0$5,126,073
97$6,344,629$0$0$5,501,342
98$6,815,115$0$0$5,910,239
99$7,328,025$0$0$6,356,048
100$7,887,512$0$0$6,842,383