Can I retire at age 62 with 785,000?

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 $785,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.1%
1 years$64,825$64,247$63,684$63,134$62,597$61,535
2 years$32,091$31,494$30,914$30,353$29,808$28,741
3 years$21,182$20,581$20,004$19,447$18,911$17,873
4 years$15,728$15,130$14,558$14,011$13,488$12,486
5 years$12,457$11,862$11,297$10,762$10,253$9,291
6 years$10,276$9,686$9,130$8,606$8,113$7,191
7 years$8,720$8,134$7,587$7,076$6,598$5,717
8 years$7,553$6,973$6,434$5,936$5,474$4,633
9 years$6,646$6,071$5,542$5,056$4,610$3,809
10 years$5,920$5,351$4,832$4,358$3,928$3,167
11 years$5,327$4,764$4,254$3,793$3,378$2,656
12 years$4,833$4,276$3,775$3,327$2,927$2,243
13 years$4,416$3,864$3,373$2,937$2,553$1,905
14 years$4,058$3,512$3,030$2,607$2,238$1,625
15 years$3,749$3,209$2,736$2,325$1,970$1,392
16 years$3,478$2,944$2,481$2,082$1,741$1,196
17 years$3,239$2,711$2,257$1,871$1,544$1,031
18 years$3,027$2,505$2,061$1,686$1,373$890
19 years$2,838$2,322$1,886$1,523$1,224$771
20 years$2,668$2,158$1,731$1,380$1,093$668
21 years$2,514$2,010$1,592$1,252$978$580
22 years$2,375$1,876$1,468$1,138$877$504
23 years$2,247$1,755$1,355$1,037$787$439
24 years$2,131$1,644$1,253$946$707$382
25 years$2,024$1,543$1,161$864$636$333
26 years$1,925$1,450$1,077$790$573$291
27 years$1,834$1,365$1,000$723$517$254
28 years$1,750$1,286$929$662$466$221
29 years$1,671$1,213$865$607$421$193
30 years$1,598$1,146$806$557$381$169
31 years$1,530$1,083$751$512$344$148
32 years$1,466$1,025$701$470$311$129
33 years$1,406$970$654$433$282$113
34 years$1,350$920$611$398$255$99
35 years$1,297$872$571$366$231$87
36 years$1,247$828$535$337$209$76
37 years$1,200$786$500$311$190$66
38 years$1,155$747$469$287$172$58
39 years$1,113$711$439$264$156$51
40 years$1,073$676$411$244$141$45
41 years$1,035$644$386$225$128$39
42 years$999$613$362$208$116$34
43 years$965$584$340$192$106$30
44 years$933$557$319$177$96$26
45 years$902$531$299$163$87$23
46 years$872$506$281$151$79$20
47 years$844$483$264$139$72$18
48 years$817$461$248$129$65$15
49 years$791$441$233$119$59$14
50 years$766$421$219$110$54$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $785,000, adding $2,332 every year, while hoping to spend $45,032 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: 56/19/25 Blend
61$785,000$785,000$785,000$785,000
62$867,475$825,870$813,703$910,001
63$908,044$818,424$793,048$931,980
64$951,242$809,104$770,192$950,988
65$997,289$797,771$745,014$970,757
66$1,046,426$784,276$717,386$991,373
67$1,098,920$768,463$687,177$1,012,935
68$1,155,059$750,167$654,246$1,035,552
69$1,215,162$729,212$618,450$1,059,349
70$1,279,577$705,412$579,637$1,084,465
71$1,348,687$678,571$537,649$1,111,057
72$1,422,913$648,480$492,319$1,139,298
73$1,502,714$614,920$443,476$1,169,385
74$1,588,597$577,657$390,939$1,201,538
75$1,681,117$536,445$334,518$1,236,001
76$1,780,884$491,024$274,018$1,273,049
77$1,888,569$441,119$209,232$1,312,986
78$2,004,908$386,439$139,946$1,356,155
79$2,130,709$326,675$65,935$1,402,936
80$2,266,864$261,505$0$1,453,753
81$2,414,349$190,584$0$1,512,557
82$2,574,241$113,550$0$1,595,392
83$2,747,720$30,021$0$1,685,302
84$2,936,088$0$0$1,783,009
85$3,140,775$0$0$1,901,940
86$3,363,353$0$0$2,038,154
87$3,605,555$0$0$2,186,442
88$3,869,283$0$0$2,347,978
89$4,156,636$0$0$2,524,054
90$4,469,917$0$0$2,716,092
91$4,811,666$0$0$2,925,658
92$5,184,678$0$0$3,154,473
93$5,592,026$0$0$3,404,435
94$6,037,097$0$0$3,677,632
95$6,523,617$0$0$3,976,362
96$7,055,691$0$0$4,303,157
97$7,637,836$0$0$4,660,802
98$8,275,028$0$0$5,052,367
99$8,972,745$0$0$5,481,231
100$9,737,019$0$0$5,951,115