Can I retire at age 62 with 883,000?

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 $883,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$72,917$72,268$71,634$71,016$70,412$69,160
2 years$36,098$35,425$34,774$34,142$33,529$32,272
3 years$23,826$23,151$22,501$21,875$21,272$20,050
4 years$17,691$17,018$16,375$15,760$15,172$13,992
5 years$14,012$13,343$12,708$12,105$11,533$10,401
6 years$11,559$10,895$10,270$9,681$9,126$8,041
7 years$9,808$9,150$8,534$7,959$7,422$6,386
8 years$8,496$7,843$7,238$6,677$6,157$5,169
9 years$7,475$6,829$6,234$5,687$5,185$4,245
10 years$6,659$6,019$5,435$4,902$4,418$3,525
11 years$5,992$5,359$4,785$4,266$3,800$2,952
12 years$5,437$4,810$4,246$3,742$3,293$2,490
13 years$4,967$4,346$3,794$3,304$2,871$2,112
14 years$4,565$3,951$3,409$2,933$2,517$1,799
15 years$4,216$3,609$3,078$2,615$2,216$1,539
16 years$3,912$3,311$2,790$2,342$1,959$1,321
17 years$3,644$3,050$2,539$2,104$1,737$1,137
18 years$3,405$2,818$2,318$1,896$1,544$980
19 years$3,192$2,612$2,122$1,713$1,376$847
20 years$3,001$2,427$1,947$1,552$1,229$733
21 years$2,828$2,261$1,791$1,408$1,100$636
22 years$2,671$2,110$1,651$1,281$986$552
23 years$2,528$1,974$1,524$1,166$885$479
24 years$2,397$1,849$1,410$1,064$796$417
25 years$2,277$1,735$1,306$971$716$363
26 years$2,166$1,631$1,211$888$645$316
27 years$2,063$1,535$1,124$813$581$275
28 years$1,968$1,446$1,045$745$525$240
29 years$1,880$1,364$973$683$474$209
30 years$1,797$1,289$906$627$428$183
31 years$1,721$1,218$845$576$387$159
32 years$1,649$1,153$788$529$350$139
33 years$1,581$1,092$736$487$317$122
34 years$1,518$1,034$688$448$287$106
35 years$1,459$981$643$412$260$93
36 years$1,402$931$601$380$235$81
37 years$1,349$885$563$350$213$71
38 years$1,299$841$527$322$193$62
39 years$1,252$799$494$297$175$54
40 years$1,207$761$463$274$159$47
41 years$1,165$724$434$253$144$41
42 years$1,124$689$407$233$131$36
43 years$1,086$657$382$215$119$32
44 years$1,049$626$359$199$108$28
45 years$1,014$597$337$184$98$24
46 years$981$570$316$170$89$21
47 years$949$544$297$157$81$19
48 years$919$519$279$145$73$16
49 years$890$496$262$134$67$14
50 years$862$473$247$124$60$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $883,000, adding $5,490 every year, while hoping to spend $36,639 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: 37/35/28 Blend
61$883,000$883,000$883,000$883,000
62$978,729$931,930$918,243$1,006,582
63$1,039,576$938,611$910,021$1,034,335
64$1,105,401$944,391$900,295$1,060,561
65$1,176,673$949,188$888,977$1,088,189
66$1,253,909$952,914$875,973$1,117,370
67$1,337,675$955,474$861,185$1,148,272
68$1,428,596$956,769$844,512$1,181,084
69$1,527,356$956,694$825,847$1,216,016
70$1,634,710$955,136$805,077$1,253,301
71$1,751,489$951,977$782,085$1,293,201
72$1,878,606$947,088$756,750$1,336,006
73$2,017,065$940,337$728,942$1,382,040
74$2,167,972$931,580$698,528$1,431,663
75$2,332,545$920,667$665,369$1,485,274
76$2,512,122$907,438$629,316$1,543,320
77$2,708,179$891,722$590,219$1,606,294
78$2,922,337$873,341$547,915$1,674,746
79$3,156,385$852,104$502,240$1,749,288
80$3,412,288$827,809$453,017$1,830,595
81$3,692,213$800,243$400,064$1,919,422
82$3,998,545$769,181$343,192$2,016,601
83$4,333,908$734,382$282,201$2,123,058
84$4,701,195$695,596$216,883$2,239,820
85$5,103,590$652,553$147,022$2,368,025
86$5,544,600$604,972$72,391$2,508,932
87$6,028,087$552,553$0$2,663,939
88$6,558,305$494,981$0$2,836,761
89$7,139,938$431,921$0$3,050,163
90$7,778,148$363,021$0$3,284,471
91$8,478,618$287,908$0$3,541,864
92$9,247,610$206,189$0$3,824,751
93$10,092,020$117,446$0$4,135,789
94$11,019,446$21,241$0$4,477,916
95$12,038,259$0$0$4,854,372
96$13,157,677$0$0$5,300,660
97$14,387,858$0$0$5,800,231
98$15,739,993$0$0$6,349,462
99$17,226,410$0$0$6,953,381
100$18,860,691$0$0$7,617,521