Can I retire at age 62 with 784,000?

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 $784,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$64,742$64,165$63,603$63,053$62,517$61,916
2 years$32,050$31,454$30,875$30,314$29,770$29,164
3 years$21,155$20,555$19,978$19,423$18,887$18,296
4 years$15,708$15,110$14,539$13,993$13,471$12,898
5 years$12,441$11,847$11,283$10,748$10,240$9,688
6 years$10,263$9,674$9,118$8,595$8,103$7,572
7 years$8,709$8,124$7,577$7,067$6,590$6,081
8 years$7,543$6,964$6,426$5,928$5,467$4,979
9 years$6,637$6,063$5,535$5,049$4,604$4,137
10 years$5,913$5,344$4,825$4,353$3,923$3,477
11 years$5,320$4,758$4,248$3,788$3,374$2,949
12 years$4,827$4,270$3,770$3,323$2,924$2,519
13 years$4,410$3,859$3,368$2,933$2,549$2,165
14 years$4,053$3,508$3,027$2,604$2,235$1,870
15 years$3,744$3,204$2,733$2,322$1,968$1,621
16 years$3,473$2,940$2,477$2,079$1,739$1,411
17 years$3,235$2,708$2,254$1,868$1,542$1,231
18 years$3,024$2,502$2,058$1,684$1,371$1,077
19 years$2,835$2,319$1,884$1,521$1,222$945
20 years$2,665$2,155$1,729$1,378$1,092$830
21 years$2,511$2,007$1,590$1,250$977$730
22 years$2,372$1,874$1,466$1,137$876$644
23 years$2,244$1,752$1,353$1,035$786$568
24 years$2,128$1,642$1,252$944$706$502
25 years$2,021$1,541$1,159$862$636$443
26 years$1,923$1,448$1,075$789$573$392
27 years$1,832$1,363$998$722$516$347
28 years$1,747$1,284$928$661$466$308
29 years$1,669$1,211$864$606$421$273
30 years$1,596$1,144$805$557$380$242
31 years$1,528$1,082$750$511$344$215
32 years$1,464$1,023$700$470$311$191
33 years$1,404$969$653$432$281$169
34 years$1,348$919$610$397$255$150
35 years$1,295$871$571$366$231$134
36 years$1,245$827$534$337$209$119
37 years$1,198$785$500$311$189$106
38 years$1,154$746$468$286$172$94
39 years$1,112$710$438$264$156$83
40 years$1,072$675$411$243$141$74
41 years$1,034$643$385$225$128$66
42 years$998$612$361$207$116$59
43 years$964$583$339$191$106$52
44 years$932$556$318$177$96$47
45 years$901$530$299$163$87$41
46 years$871$506$281$151$79$37
47 years$843$483$264$139$72$33
48 years$816$461$248$129$65$29
49 years$790$440$233$119$59$26
50 years$765$420$219$110$54$23

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $784,000, adding $4,613 every year, while hoping to spend $42,940 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: 32/46/22 Blend
61$784,000$784,000$784,000$784,000
62$868,726$827,174$815,022$890,506
63$911,649$822,018$796,638$902,130
64$957,510$815,170$776,198$910,440
65$1,006,564$806,502$753,589$918,508
66$1,059,091$795,878$728,692$926,340
67$1,115,396$783,153$701,381$933,944
68$1,175,815$768,176$671,525$941,337
69$1,240,716$750,785$638,989$948,539
70$1,310,503$730,808$603,630$955,578
71$1,385,621$708,064$565,298$962,489
72$1,466,556$682,361$523,837$969,315
73$1,553,844$653,496$479,085$976,112
74$1,648,073$621,254$430,871$982,943
75$1,749,889$585,408$379,018$989,887
76$1,860,003$545,717$323,340$997,036
77$1,979,193$501,928$263,642$1,004,499
78$2,108,320$453,771$199,723$1,012,403
79$2,248,326$400,964$131,371$1,020,895
80$2,400,249$343,204$58,366$1,030,146
81$2,565,230$280,177$0$1,040,354
82$2,744,523$211,545$0$1,056,333
83$2,939,510$136,957$0$1,088,674
84$3,151,710$56,037$0$1,124,016
85$3,382,794$0$0$1,162,758
86$3,634,601$0$0$1,221,347
87$3,909,155$0$0$1,316,265
88$4,208,684$0$0$1,419,929
89$4,535,641$0$0$1,533,204
90$4,892,723$0$0$1,657,039
91$5,282,903$0$0$1,792,480
92$5,709,452$0$0$1,940,678
93$6,175,971$0$0$2,102,901
94$6,686,426$0$0$2,280,545
95$7,245,183$0$0$2,475,149
96$7,857,051$0$0$2,688,404
97$8,527,324$0$0$2,922,177
98$9,261,834$0$0$3,178,520
99$10,067,003$0$0$3,459,697
100$10,949,904$0$0$3,768,197