Can I retire at age 62 with 790,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $790,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$65,237$64,656$64,089$63,536$62,996$61,623
2 years$32,296$31,694$31,111$30,546$29,998$28,622
3 years$21,317$20,713$20,131$19,571$19,032$17,696
4 years$15,828$15,226$14,650$14,100$13,574$12,287
5 years$12,536$11,937$11,369$10,830$10,319$9,086
6 years$10,342$9,748$9,188$8,661$8,165$6,987
7 years$8,775$8,186$7,635$7,121$6,640$5,517
8 years$7,601$7,017$6,475$5,973$5,509$4,440
9 years$6,688$6,110$5,577$5,088$4,639$3,624
10 years$5,958$5,385$4,862$4,386$3,953$2,991
11 years$5,361$4,794$4,281$3,817$3,399$2,489
12 years$4,864$4,303$3,799$3,348$2,946$2,086
13 years$4,444$3,889$3,394$2,956$2,569$1,757
14 years$4,084$3,535$3,050$2,624$2,252$1,487
15 years$3,772$3,229$2,753$2,340$1,983$1,264
16 years$3,500$2,963$2,496$2,095$1,752$1,077
17 years$3,260$2,728$2,272$1,883$1,554$920
18 years$3,047$2,521$2,074$1,697$1,382$788
19 years$2,856$2,337$1,898$1,533$1,231$676
20 years$2,685$2,171$1,742$1,388$1,100$580
21 years$2,530$2,022$1,603$1,260$984$499
22 years$2,390$1,888$1,477$1,146$882$430
23 years$2,262$1,766$1,364$1,043$792$371
24 years$2,144$1,654$1,261$952$712$320
25 years$2,037$1,553$1,168$869$641$276
26 years$1,938$1,459$1,083$795$577$239
27 years$1,846$1,373$1,006$727$520$206
28 years$1,761$1,294$935$666$469$178
29 years$1,682$1,221$870$611$424$154
30 years$1,608$1,153$811$561$383$134
31 years$1,539$1,090$756$515$346$116
32 years$1,475$1,031$705$473$313$100
33 years$1,415$977$658$435$283$87
34 years$1,358$926$615$401$257$75
35 years$1,305$878$575$369$232$65
36 years$1,255$833$538$340$211$56
37 years$1,207$791$504$313$191$49
38 years$1,163$752$472$288$173$42
39 years$1,120$715$442$266$157$37
40 years$1,080$680$414$245$142$32
41 years$1,042$648$388$226$129$28
42 years$1,006$617$364$209$117$24
43 years$971$588$342$193$106$21
44 years$939$560$321$178$97$18
45 years$907$534$301$164$88$16
46 years$878$510$283$152$80$14
47 years$849$486$266$140$72$12
48 years$822$464$250$130$66$10
49 years$796$443$235$120$60$9
50 years$771$424$221$111$54$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $790,000, adding $5,891 every year, while hoping to spend $20,311 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: 85/10/5 Blend
61$790,000$790,000$790,000$790,000
62$876,657$834,787$822,542$950,671
63$944,465$854,080$828,486$1,019,101
64$1,018,509$873,639$833,949$1,090,855
65$1,099,403$893,453$838,892$1,169,028
66$1,187,824$913,515$843,277$1,254,251
67$1,284,517$933,812$847,062$1,347,218
68$1,390,302$954,333$850,203$1,448,694
69$1,506,082$975,065$852,654$1,559,520
70$1,632,852$995,992$854,367$1,680,626
71$1,771,706$1,017,099$855,292$1,813,032
72$1,923,852$1,038,368$855,376$1,957,863
73$2,090,616$1,059,780$854,562$2,116,359
74$2,273,461$1,081,312$852,793$2,289,884
75$2,474,000$1,102,941$850,007$2,479,943
76$2,694,006$1,124,643$846,140$2,688,191
77$2,935,433$1,146,390$841,124$2,916,454
78$3,200,436$1,168,151$834,890$3,166,740
79$3,491,384$1,189,895$827,363$3,441,265
80$3,810,892$1,211,586$818,466$3,742,467
81$4,161,835$1,233,186$808,117$4,073,034
82$4,547,385$1,254,655$796,232$4,435,928
83$4,971,035$1,275,949$782,722$4,834,410
84$5,436,630$1,297,021$767,493$5,272,075
85$5,948,411$1,317,819$750,448$5,752,883
86$6,511,046$1,338,290$731,486$6,281,197
87$7,129,682$1,358,374$710,499$6,861,824
88$7,809,984$1,378,010$687,376$7,500,063
89$8,558,200$1,397,130$662,001$8,201,749
90$9,381,209$1,415,662$634,250$8,973,313
91$10,286,592$1,433,529$603,998$9,821,844
92$11,282,702$1,450,650$571,109$10,755,148
93$12,378,742$1,466,936$535,446$11,781,830
94$13,584,852$1,482,294$496,861$12,911,371
95$14,912,205$1,496,624$455,204$14,154,219
96$16,373,111$1,509,820$410,314$15,521,886
97$17,981,135$1,521,768$362,027$17,027,057
98$19,751,224$1,532,347$310,168$18,683,711
99$21,699,846$1,541,430$254,555$20,507,252
100$23,845,148$1,548,878$195,001$22,514,655