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%16.2%
1 years$64,742$64,165$63,603$63,053$62,517$60,932
2 years$32,050$31,454$30,875$30,314$29,770$28,183
3 years$21,155$20,555$19,978$19,423$18,887$17,348
4 years$15,708$15,110$14,539$13,993$13,471$11,992
5 years$12,441$11,847$11,283$10,748$10,240$8,825
6 years$10,263$9,674$9,118$8,595$8,103$6,753
7 years$8,709$8,124$7,577$7,067$6,590$5,306
8 years$7,543$6,964$6,426$5,928$5,467$4,248
9 years$6,637$6,063$5,535$5,049$4,604$3,449
10 years$5,913$5,344$4,825$4,353$3,923$2,830
11 years$5,320$4,758$4,248$3,788$3,374$2,342
12 years$4,827$4,270$3,770$3,323$2,924$1,951
13 years$4,410$3,859$3,368$2,933$2,549$1,634
14 years$4,053$3,508$3,027$2,604$2,235$1,374
15 years$3,744$3,204$2,733$2,322$1,968$1,160
16 years$3,473$2,940$2,477$2,079$1,739$982
17 years$3,235$2,708$2,254$1,868$1,542$834
18 years$3,024$2,502$2,058$1,684$1,371$709
19 years$2,835$2,319$1,884$1,521$1,222$604
20 years$2,665$2,155$1,729$1,378$1,092$516
21 years$2,511$2,007$1,590$1,250$977$441
22 years$2,372$1,874$1,466$1,137$876$377
23 years$2,244$1,752$1,353$1,035$786$323
24 years$2,128$1,642$1,252$944$706$276
25 years$2,021$1,541$1,159$862$636$237
26 years$1,923$1,448$1,075$789$573$203
27 years$1,832$1,363$998$722$516$174
28 years$1,747$1,284$928$661$466$150
29 years$1,669$1,211$864$606$421$129
30 years$1,596$1,144$805$557$380$110
31 years$1,528$1,082$750$511$344$95
32 years$1,464$1,023$700$470$311$82
33 years$1,404$969$653$432$281$70
34 years$1,348$919$610$397$255$60
35 years$1,295$871$571$366$231$52
36 years$1,245$827$534$337$209$45
37 years$1,198$785$500$311$189$38
38 years$1,154$746$468$286$172$33
39 years$1,112$710$438$264$156$28
40 years$1,072$675$411$243$141$24
41 years$1,034$643$385$225$128$21
42 years$998$612$361$207$116$18
43 years$964$583$339$191$106$16
44 years$932$556$318$177$96$13
45 years$901$530$299$163$87$11
46 years$871$506$281$151$79$10
47 years$843$483$264$139$72$9
48 years$816$461$248$129$65$7
49 years$790$440$233$119$59$6
50 years$765$420$219$110$54$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $784,000, adding $5,889 every year, while hoping to spend $41,325 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: 35/42/23 Blend
61$784,000$784,000$784,000$784,000
62$870,043$828,491$816,339$894,251
63$914,817$825,117$799,716$909,285
64$962,774$820,193$781,152$921,289
65$1,014,194$813,600$760,538$933,407
66$1,069,385$805,209$737,759$945,677
67$1,128,685$794,887$712,697$958,142
68$1,192,466$782,492$685,227$970,852
69$1,261,135$767,872$655,220$983,867
70$1,335,141$750,867$622,539$997,257
71$1,414,974$731,308$587,043$1,011,104
72$1,501,174$709,015$548,582$1,025,501
73$1,594,337$683,800$507,002$1,040,558
74$1,695,113$655,460$462,141$1,056,398
75$1,804,220$623,783$413,828$1,073,165
76$1,922,447$588,544$361,888$1,091,021
77$2,050,659$549,506$306,134$1,110,154
78$2,189,812$506,417$246,375$1,130,772
79$2,340,952$459,012$182,408$1,153,117
80$2,505,234$407,008$114,024$1,177,459
81$2,683,926$350,110$41,002$1,204,105
82$2,878,425$288,003$0$1,233,400
83$3,090,265$220,356$0$1,274,796
84$3,321,137$146,819$0$1,330,997
85$3,572,902$67,022$0$1,392,485
86$3,847,607$0$0$1,459,876
87$4,147,505$0$0$1,542,835
88$4,475,078$0$0$1,667,388
89$4,833,055$0$0$1,803,613
90$5,224,444$0$0$1,952,665
91$5,652,554$0$0$2,115,822
92$6,121,031$0$0$2,294,486
93$6,633,888$0$0$2,490,204
94$7,195,545$0$0$2,704,677
95$7,810,868$0$0$2,939,782
96$8,485,218$0$0$3,197,583
97$9,224,496$0$0$3,480,355
98$10,035,206$0$0$3,790,604
99$10,924,507$0$0$4,131,088
100$11,900,287$0$0$4,504,848