Can I retire at age 62 with 882,000?

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 $882,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$72,835$72,186$71,553$70,935$70,332$68,245
2 years$36,057$35,385$34,734$34,103$33,491$31,406
3 years$23,799$23,125$22,475$21,850$21,248$19,230
4 years$17,671$16,999$16,356$15,742$15,154$13,218
5 years$13,996$13,327$12,693$12,091$11,520$9,672
6 years$11,546$10,883$10,258$9,670$9,116$7,357
7 years$9,797$9,139$8,524$7,950$7,413$5,744
8 years$8,486$7,834$7,229$6,669$6,150$4,569
9 years$7,467$6,821$6,227$5,680$5,179$3,685
10 years$6,652$6,012$5,429$4,897$4,413$3,003
11 years$5,985$5,353$4,779$4,262$3,795$2,468
12 years$5,431$4,804$4,241$3,738$3,289$2,041
13 years$4,961$4,342$3,789$3,300$2,868$1,696
14 years$4,560$3,946$3,405$2,929$2,514$1,416
15 years$4,212$3,605$3,074$2,613$2,214$1,186
16 years$3,908$3,308$2,787$2,339$1,956$997
17 years$3,640$3,046$2,536$2,102$1,735$839
18 years$3,402$2,815$2,315$1,894$1,542$708
19 years$3,189$2,609$2,119$1,711$1,375$598
20 years$2,998$2,424$1,945$1,550$1,228$506
21 years$2,825$2,258$1,789$1,407$1,099$429
22 years$2,668$2,108$1,649$1,279$985$364
23 years$2,525$1,971$1,523$1,165$884$309
24 years$2,394$1,847$1,408$1,062$795$262
25 years$2,274$1,733$1,304$970$715$223
26 years$2,163$1,629$1,210$887$644$189
27 years$2,061$1,533$1,123$812$581$161
28 years$1,966$1,445$1,044$744$524$137
29 years$1,878$1,363$972$682$473$117
30 years$1,795$1,287$905$626$428$99
31 years$1,719$1,217$844$575$387$85
32 years$1,647$1,151$787$529$350$72
33 years$1,580$1,090$735$486$316$61
34 years$1,516$1,033$687$447$287$52
35 years$1,457$980$642$412$260$44
36 years$1,401$930$601$379$235$38
37 years$1,348$884$562$349$213$32
38 years$1,298$840$526$322$193$28
39 years$1,251$798$493$297$175$23
40 years$1,206$760$462$274$159$20
41 years$1,163$723$434$253$144$17
42 years$1,123$689$407$233$131$15
43 years$1,085$656$382$215$119$12
44 years$1,048$625$358$199$108$11
45 years$1,013$596$336$184$98$9
46 years$980$569$316$170$89$8
47 years$948$543$297$157$81$7
48 years$918$518$279$145$73$6
49 years$889$495$262$134$67$5
50 years$861$473$246$124$60$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $882,000, adding $3,173 every year, while hoping to spend $26,126 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: 59/13/28 Blend
61$882,000$882,000$882,000$882,000
62$975,237$928,491$914,820$1,025,180
63$1,046,913$946,189$917,669$1,077,379
64$1,125,025$963,879$919,737$1,131,244
65$1,210,201$981,532$920,971$1,189,456
66$1,303,133$999,119$921,316$1,252,448
67$1,404,583$1,016,606$920,710$1,320,691
68$1,515,390$1,033,959$919,093$1,394,709
69$1,636,476$1,051,140$916,400$1,475,078
70$1,768,859$1,068,108$912,561$1,562,434
71$1,913,657$1,084,820$907,506$1,657,478
72$2,072,102$1,101,228$901,160$1,760,981
73$2,245,551$1,117,282$893,443$1,873,799
74$2,435,497$1,132,930$884,274$1,996,869
75$2,643,586$1,148,112$873,565$2,131,230
76$2,871,630$1,162,768$861,228$2,278,024
77$3,121,625$1,176,831$847,167$2,438,514
78$3,395,766$1,190,232$831,283$2,614,089
79$3,696,476$1,202,895$813,473$2,806,283
80$4,026,420$1,214,740$793,628$3,016,788
81$4,388,535$1,225,683$771,634$3,247,468
82$4,786,056$1,235,631$747,374$3,500,381
83$5,222,545$1,244,488$720,722$3,777,792
84$5,701,927$1,252,151$691,549$4,082,204
85$6,228,527$1,258,510$659,720$4,416,373
86$6,807,108$1,263,448$625,092$4,783,339
87$7,442,918$1,266,841$587,517$5,186,454
88$8,141,736$1,268,557$546,839$5,629,415
89$8,909,933$1,268,456$502,898$6,116,296
90$9,754,525$1,266,389$455,524$6,651,590
91$10,683,242$1,262,198$404,539$7,240,251
92$11,704,601$1,255,714$349,760$7,887,741
93$12,827,987$1,246,760$290,993$8,600,081
94$14,063,737$1,235,148$228,038$9,383,908
95$15,423,245$1,220,676$160,683$10,246,541
96$16,919,059$1,203,133$88,710$11,196,049
97$18,565,010$1,182,293$11,888$12,241,326
98$20,376,335$1,157,919$0$13,392,178
99$22,369,821$1,129,758$0$14,680,354
100$24,563,970$1,097,542$0$16,101,981