Can I retire at age 62 with 895,000?

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 $895,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.3%
1 years$73,908$73,250$72,608$71,981$71,369$70,978
2 years$36,588$35,907$35,246$34,606$33,985$33,591
3 years$24,150$23,466$22,807$22,172$21,561$21,176
4 years$17,932$17,250$16,597$15,974$15,378$15,004
5 years$14,202$13,524$12,880$12,270$11,690$11,329
6 years$11,716$11,043$10,409$9,812$9,250$8,902
7 years$9,942$9,274$8,650$8,067$7,523$7,188
8 years$8,611$7,950$7,336$6,767$6,241$5,920
9 years$7,577$6,922$6,318$5,764$5,256$4,948
10 years$6,750$6,101$5,509$4,969$4,478$4,184
11 years$6,074$5,431$4,850$4,324$3,851$3,570
12 years$5,511$4,875$4,304$3,793$3,337$3,069
13 years$5,035$4,406$3,845$3,349$2,910$2,654
14 years$4,627$4,004$3,455$2,973$2,551$2,307
15 years$4,274$3,658$3,119$2,651$2,246$2,014
16 years$3,965$3,356$2,828$2,374$1,985$1,765
17 years$3,693$3,091$2,574$2,133$1,760$1,551
18 years$3,452$2,856$2,349$1,922$1,565$1,367
19 years$3,236$2,647$2,151$1,737$1,395$1,207
20 years$3,042$2,460$1,974$1,573$1,246$1,068
21 years$2,867$2,291$1,816$1,428$1,115$947
22 years$2,707$2,139$1,673$1,298$1,000$841
23 years$2,562$2,000$1,545$1,182$897$747
24 years$2,429$1,874$1,429$1,078$806$665
25 years$2,307$1,759$1,323$985$726$593
26 years$2,195$1,653$1,227$900$654$528
27 years$2,091$1,556$1,140$824$589$472
28 years$1,995$1,466$1,060$755$532$421
29 years$1,905$1,383$986$692$480$377
30 years$1,822$1,306$918$635$434$337
31 years$1,744$1,235$856$584$392$301
32 years$1,671$1,168$799$536$355$270
33 years$1,603$1,106$746$493$321$241
34 years$1,539$1,049$697$454$291$216
35 years$1,478$995$652$418$263$194
36 years$1,421$944$610$385$239$174
37 years$1,368$897$571$354$216$156
38 years$1,317$852$534$327$196$140
39 years$1,269$810$501$301$178$125
40 years$1,224$771$469$278$161$112
41 years$1,180$734$440$256$146$101
42 years$1,139$699$413$237$133$90
43 years$1,100$666$387$218$120$81
44 years$1,063$635$363$202$109$73
45 years$1,028$605$341$186$99$65
46 years$994$577$321$172$90$59
47 years$962$551$301$159$82$53
48 years$931$526$283$147$74$47
49 years$902$502$266$136$68$42
50 years$874$480$250$125$61$38

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $895,000, adding $6,400 every year, while hoping to spend $49,737 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: 52/19/29 Blend
61$895,000$895,000$895,000$895,000
62$992,892$945,457$931,584$1,036,140
63$1,041,247$938,864$909,872$1,060,317
64$1,092,867$930,282$885,766$1,081,082
65$1,148,033$919,559$859,133$1,102,699
66$1,207,053$906,538$829,834$1,125,271
67$1,270,263$891,049$797,724$1,148,914
68$1,338,033$872,914$762,652$1,173,758
69$1,410,769$851,943$724,457$1,199,953
70$1,488,917$827,937$682,976$1,227,662
71$1,572,964$800,684$638,033$1,257,071
72$1,663,448$769,959$589,449$1,288,391
73$1,760,957$735,525$537,033$1,321,854
74$1,866,140$697,130$480,588$1,357,721
75$1,979,706$654,509$419,908$1,396,287
76$2,102,437$607,382$354,776$1,437,877
77$2,235,192$555,450$284,967$1,482,857
78$2,378,915$498,400$210,247$1,531,636
79$2,534,643$435,900$130,369$1,584,669
80$2,703,517$367,600$45,077$1,642,462
81$2,886,792$293,129$0$1,705,580
82$3,085,849$212,096$0$1,788,870
83$3,302,203$124,087$0$1,894,625
84$3,537,527$28,666$0$2,009,751
85$3,793,656$0$0$2,135,208
86$4,072,612$0$0$2,287,659
87$4,376,620$0$0$2,460,416
88$4,708,128$0$0$2,648,884
89$5,069,829$0$0$2,854,609
90$5,464,691$0$0$3,079,286
91$5,895,978$0$0$3,324,786
92$6,367,283$0$0$3,593,167
93$6,882,563$0$0$3,886,694
94$7,446,176$0$0$4,207,861
95$8,062,917$0$0$4,559,417
96$8,738,068$0$0$4,944,386
97$9,477,446$0$0$5,366,098
98$10,287,456$0$0$5,828,223
99$11,175,151$0$0$6,334,801
100$12,148,299$0$0$6,890,280