Can I retire at age 62 with 789,000?

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 $789,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$65,155$64,575$64,008$63,456$62,916$62,598
2 years$32,255$31,654$31,072$30,508$29,960$29,639
3 years$21,290$20,686$20,106$19,546$19,008$18,694
4 years$15,808$15,207$14,632$14,082$13,557$13,252
5 years$12,520$11,922$11,355$10,816$10,305$10,012
6 years$10,329$9,735$9,176$8,650$8,154$7,871
7 years$8,764$8,176$7,626$7,112$6,632$6,359
8 years$7,591$7,008$6,467$5,966$5,502$5,240
9 years$6,679$6,102$5,570$5,082$4,633$4,382
10 years$5,950$5,378$4,856$4,380$3,948$3,708
11 years$5,354$4,788$4,275$3,812$3,395$3,166
12 years$4,858$4,298$3,794$3,344$2,942$2,723
13 years$4,438$3,884$3,390$2,952$2,566$2,356
14 years$4,079$3,530$3,046$2,621$2,249$2,050
15 years$3,768$3,225$2,750$2,337$1,980$1,791
16 years$3,496$2,959$2,493$2,093$1,750$1,570
17 years$3,256$2,725$2,269$1,880$1,552$1,381
18 years$3,043$2,518$2,071$1,694$1,380$1,217
19 years$2,853$2,334$1,896$1,531$1,230$1,076
20 years$2,682$2,169$1,740$1,387$1,098$953
21 years$2,527$2,020$1,600$1,258$983$845
22 years$2,387$1,885$1,475$1,144$881$751
23 years$2,259$1,763$1,362$1,042$791$668
24 years$2,142$1,652$1,260$950$711$595
25 years$2,034$1,551$1,167$868$640$531
26 years$1,935$1,457$1,082$794$576$474
27 years$1,843$1,371$1,005$726$520$423
28 years$1,759$1,292$934$666$469$378
29 years$1,680$1,219$869$610$423$338
30 years$1,606$1,151$810$560$382$303
31 years$1,537$1,088$755$514$346$271
32 years$1,473$1,030$704$473$313$243
33 years$1,413$975$658$435$283$218
34 years$1,356$924$614$400$256$195
35 years$1,303$877$574$368$232$175
36 years$1,253$832$537$339$210$157
37 years$1,206$790$503$312$191$141
38 years$1,161$751$471$288$173$126
39 years$1,119$714$441$266$157$113
40 years$1,079$680$414$245$142$102
41 years$1,041$647$388$226$129$91
42 years$1,005$616$364$209$117$82
43 years$970$587$341$193$106$74
44 years$937$560$320$178$96$66
45 years$906$534$301$164$88$60
46 years$877$509$283$152$79$53
47 years$848$486$265$140$72$48
48 years$821$464$249$129$66$43
49 years$795$443$234$120$60$39
50 years$770$423$220$111$54$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $789,000, adding $5,574 every year, while hoping to spend $47,036 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: 50/27/23 Blend
61$789,000$789,000$789,000$789,000
62$875,228$833,411$821,181$913,083
63$914,455$824,202$798,645$930,745
64$956,107$812,965$773,777$944,715
65$1,000,381$799,552$746,450$958,933
66$1,047,494$783,804$716,530$973,440
67$1,097,683$765,555$683,878$988,288
68$1,151,206$744,626$648,347$1,003,534
69$1,208,347$720,831$609,785$1,019,246
70$1,269,418$693,972$568,033$1,035,500
71$1,334,760$663,837$522,923$1,052,387
72$1,404,746$630,206$474,281$1,070,006
73$1,479,787$592,842$421,926$1,088,476
74$1,560,332$551,499$365,668$1,107,928
75$1,646,875$505,912$305,307$1,128,514
76$1,739,958$455,803$240,637$1,150,403
77$1,840,177$400,881$171,441$1,173,789
78$1,948,184$340,833$97,494$1,198,891
79$2,064,698$275,333$18,559$1,225,956
80$2,190,507$204,034$0$1,255,262
81$2,326,478$126,571$0$1,303,240
82$2,473,563$42,557$0$1,360,031
83$2,632,808$0$0$1,421,538
84$2,805,365$0$0$1,502,657
85$2,992,500$0$0$1,604,410
86$3,195,603$0$0$1,714,920
87$3,416,205$0$0$1,835,027
88$3,655,990$0$0$1,965,659
89$3,916,811$0$0$2,107,834
90$4,200,704$0$0$2,262,674
91$4,509,913$0$0$2,431,413
92$4,846,904$0$0$2,615,408
93$5,214,392$0$0$2,816,154
94$5,615,368$0$0$3,035,297
95$6,053,120$0$0$3,274,647
96$6,531,269$0$0$3,536,198
97$7,053,803$0$0$3,822,144
98$7,625,110$0$0$4,134,902
99$8,250,023$0$0$4,477,134
100$8,933,862$0$0$4,851,767