Can I retire at age 62 with 791,000?

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 $791,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.5%
1 years$65,320$64,738$64,171$63,616$63,075$61,401
2 years$32,337$31,734$31,151$30,585$30,036$28,361
3 years$21,344$20,739$20,157$19,596$19,056$17,433
4 years$15,848$15,245$14,669$14,118$13,591$12,031
5 years$12,552$11,952$11,384$10,844$10,332$8,840
6 years$10,355$9,760$9,200$8,672$8,175$6,754
7 years$8,786$8,196$7,645$7,130$6,648$5,297
8 years$7,610$7,026$6,484$5,981$5,516$4,233
9 years$6,696$6,117$5,584$5,094$4,645$3,431
10 years$5,965$5,392$4,868$4,391$3,958$2,810
11 years$5,368$4,800$4,286$3,822$3,404$2,321
12 years$4,870$4,308$3,804$3,352$2,950$1,930
13 years$4,449$3,894$3,398$2,960$2,572$1,613
14 years$4,089$3,539$3,054$2,627$2,255$1,354
15 years$3,777$3,233$2,757$2,343$1,985$1,141
16 years$3,504$2,966$2,500$2,098$1,755$964
17 years$3,264$2,732$2,275$1,885$1,556$816
18 years$3,051$2,524$2,076$1,699$1,383$693
19 years$2,860$2,340$1,901$1,535$1,233$589
20 years$2,688$2,174$1,744$1,390$1,101$501
21 years$2,533$2,025$1,605$1,262$986$427
22 years$2,393$1,890$1,479$1,147$883$365
23 years$2,265$1,768$1,365$1,045$793$311
24 years$2,147$1,656$1,263$953$713$266
25 years$2,039$1,554$1,170$870$641$228
26 years$1,940$1,461$1,085$796$578$195
27 years$1,848$1,375$1,007$728$521$167
28 years$1,763$1,296$936$667$470$143
29 years$1,684$1,222$871$612$424$122
30 years$1,610$1,154$812$562$383$105
31 years$1,541$1,091$757$516$347$90
32 years$1,477$1,032$706$474$314$77
33 years$1,417$978$659$436$284$66
34 years$1,360$927$616$401$257$57
35 years$1,307$879$576$369$233$49
36 years$1,256$834$539$340$211$42
37 years$1,209$792$504$313$191$36
38 years$1,164$753$472$289$173$31
39 years$1,122$716$442$266$157$26
40 years$1,081$681$415$246$143$23
41 years$1,043$649$389$227$129$19
42 years$1,007$618$365$209$117$17
43 years$973$588$342$193$106$14
44 years$940$561$321$178$97$12
45 years$909$535$302$165$88$11
46 years$879$510$283$152$80$9
47 years$850$487$266$140$72$8
48 years$823$465$250$130$66$7
49 years$797$444$235$120$60$6
50 years$772$424$221$111$54$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $791,000, adding $2,169 every year, while hoping to spend $55,839 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: 55/21/24 Blend
61$791,000$791,000$791,000$791,000
62$873,919$831,996$819,736$916,124
63$903,647$813,352$787,785$926,698
64$934,535$791,922$752,892$932,183
65$966,643$767,512$714,899$936,987
66$1,000,036$739,915$673,643$941,061
67$1,034,780$708,911$628,951$944,357
68$1,070,949$674,270$580,643$946,824
69$1,108,623$635,746$528,531$948,408
70$1,147,884$593,080$472,419$949,055
71$1,188,826$545,998$412,102$948,710
72$1,231,544$494,210$347,366$947,315
73$1,276,146$437,411$277,987$944,811
74$1,322,746$375,276$203,732$941,139
75$1,371,466$307,465$124,357$936,238
76$1,422,440$233,615$39,608$930,046
77$1,475,813$153,346$0$922,502
78$1,531,741$66,255$0$926,559
79$1,590,393$0$0$940,809
80$1,651,954$0$0$961,600
81$1,716,624$0$0$999,547
82$1,784,619$0$0$1,039,471
83$1,856,176$0$0$1,081,512
84$1,931,552$0$0$1,125,827
85$2,011,026$0$0$1,172,583
86$2,094,905$0$0$1,221,963
87$2,183,519$0$0$1,274,168
88$2,277,233$0$0$1,329,416
89$2,376,442$0$0$1,387,946
90$2,481,579$0$0$1,450,018
91$2,593,116$0$0$1,515,918
92$2,711,570$0$0$1,585,956
93$2,837,505$0$0$1,660,473
94$2,971,541$0$0$1,739,843
95$3,114,354$0$0$1,824,474
96$3,266,685$0$0$1,914,813
97$3,429,345$0$0$2,011,350
98$3,603,225$0$0$2,114,622
99$3,789,299$0$0$2,225,219
100$3,988,637$0$0$2,343,786