Can I retire at age 62 with 787,000?

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 $787,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.5%
1 years$64,990$64,411$63,846$63,295$62,756$61,339
2 years$32,173$31,574$30,993$30,430$29,884$28,464
3 years$21,236$20,634$20,055$19,497$18,960$17,581
4 years$15,768$15,168$14,595$14,046$13,522$12,195
5 years$12,488$11,892$11,326$10,789$10,279$9,008
6 years$10,303$9,711$9,153$8,628$8,134$6,919
7 years$8,742$8,155$7,606$7,094$6,615$5,458
8 years$7,572$6,990$6,451$5,951$5,488$4,387
9 years$6,662$6,086$5,556$5,069$4,621$3,577
10 years$5,935$5,365$4,844$4,369$3,938$2,948
11 years$5,341$4,776$4,264$3,803$3,387$2,451
12 years$4,846$4,287$3,785$3,335$2,935$2,051
13 years$4,427$3,874$3,381$2,945$2,559$1,726
14 years$4,068$3,521$3,038$2,614$2,243$1,458
15 years$3,758$3,217$2,743$2,331$1,975$1,237
16 years$3,487$2,951$2,487$2,087$1,746$1,053
17 years$3,248$2,718$2,263$1,875$1,548$898
18 years$3,035$2,512$2,066$1,690$1,376$768
19 years$2,845$2,328$1,891$1,527$1,227$658
20 years$2,675$2,163$1,736$1,383$1,096$564
21 years$2,521$2,015$1,596$1,255$981$485
22 years$2,381$1,881$1,471$1,141$879$417
23 years$2,253$1,759$1,359$1,039$789$359
24 years$2,136$1,648$1,256$948$709$309
25 years$2,029$1,547$1,164$866$638$266
26 years$1,930$1,454$1,079$792$575$230
27 years$1,839$1,368$1,002$725$518$198
28 years$1,754$1,289$932$664$468$171
29 years$1,675$1,216$867$609$422$148
30 years$1,602$1,148$808$559$382$128
31 years$1,534$1,086$753$513$345$110
32 years$1,469$1,027$702$472$312$95
33 years$1,409$973$656$434$282$83
34 years$1,353$922$613$399$256$71
35 years$1,300$875$573$367$232$62
36 years$1,250$830$536$338$210$53
37 years$1,203$788$502$312$190$46
38 years$1,158$749$470$287$172$40
39 years$1,116$712$440$265$156$35
40 years$1,076$678$413$244$142$30
41 years$1,038$645$387$225$129$26
42 years$1,002$614$363$208$117$22
43 years$968$585$340$192$106$19
44 years$935$558$320$177$96$17
45 years$904$532$300$164$87$15
46 years$874$508$282$151$79$13
47 years$846$484$265$140$72$11
48 years$819$463$249$129$65$9
49 years$793$442$234$119$59$8
50 years$768$422$220$110$54$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $787,000, adding $3,721 every year, while hoping to spend $34,170 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: 47/25/28 Blend
61$787,000$787,000$787,000$787,000
62$871,112$829,401$817,203$904,909
63$923,609$833,685$808,222$933,421
64$980,315$837,034$797,796$960,732
65$1,041,624$839,365$785,839$989,720
66$1,107,968$840,593$772,263$1,020,560
67$1,179,823$840,623$756,975$1,053,448
68$1,257,709$839,359$739,879$1,088,599
69$1,342,203$836,695$720,872$1,126,257
70$1,433,936$832,521$699,850$1,166,687
71$1,533,603$826,720$676,700$1,210,187
72$1,641,968$819,166$651,307$1,257,086
73$1,759,872$809,729$623,549$1,307,751
74$1,888,241$798,268$593,300$1,362,588
75$2,028,092$784,634$560,426$1,422,046
76$2,180,547$768,670$524,790$1,486,626
77$2,346,839$750,211$486,246$1,556,879
78$2,528,324$729,079$444,643$1,633,419
79$2,726,497$705,087$399,822$1,716,926
80$2,943,002$678,039$351,619$1,808,151
81$3,179,651$647,726$299,861$1,907,929
82$3,438,436$613,926$244,367$2,017,180
83$3,721,554$576,405$184,950$2,136,928
84$4,031,419$534,916$121,413$2,268,301
85$4,370,695$489,197$53,551$2,412,550
86$4,742,310$438,973$0$2,571,060
87$5,149,494$383,950$0$2,750,997
88$5,595,799$323,820$0$2,965,857
89$6,085,140$258,258$0$3,201,567
90$6,621,830$186,918$0$3,460,267
91$7,210,616$109,436$0$3,744,321
92$7,856,729$25,428$0$4,056,338
93$8,565,930$0$0$4,399,194
94$9,344,566$0$0$4,794,086
95$10,199,628$0$0$5,235,513
96$11,138,816$0$0$5,720,466
97$12,170,614$0$0$6,253,340
98$13,304,369$0$0$6,838,972
99$14,550,375$0$0$7,482,694
100$15,919,977$0$0$8,190,379