Can I retire at age 62 with 791,000?

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 $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%16.6%
1 years$65,320$64,738$64,171$63,616$63,075$61,376
2 years$32,337$31,734$31,151$30,585$30,036$28,336
3 years$21,344$20,739$20,157$19,596$19,056$17,409
4 years$15,848$15,245$14,669$14,118$13,591$12,009
5 years$12,552$11,952$11,384$10,844$10,332$8,819
6 years$10,355$9,760$9,200$8,672$8,175$6,734
7 years$8,786$8,196$7,645$7,130$6,648$5,279
8 years$7,610$7,026$6,484$5,981$5,516$4,216
9 years$6,696$6,117$5,584$5,094$4,645$3,415
10 years$5,965$5,392$4,868$4,391$3,958$2,795
11 years$5,368$4,800$4,286$3,822$3,404$2,307
12 years$4,870$4,308$3,804$3,352$2,950$1,917
13 years$4,449$3,894$3,398$2,960$2,572$1,601
14 years$4,089$3,539$3,054$2,627$2,255$1,343
15 years$3,777$3,233$2,757$2,343$1,985$1,131
16 years$3,504$2,966$2,500$2,098$1,755$955
17 years$3,264$2,732$2,275$1,885$1,556$808
18 years$3,051$2,524$2,076$1,699$1,383$685
19 years$2,860$2,340$1,901$1,535$1,233$582
20 years$2,688$2,174$1,744$1,390$1,101$495
21 years$2,533$2,025$1,605$1,262$986$422
22 years$2,393$1,890$1,479$1,147$883$360
23 years$2,265$1,768$1,365$1,045$793$307
24 years$2,147$1,656$1,263$953$713$262
25 years$2,039$1,554$1,170$870$641$224
26 years$1,940$1,461$1,085$796$578$191
27 years$1,848$1,375$1,007$728$521$164
28 years$1,763$1,296$936$667$470$140
29 years$1,684$1,222$871$612$424$120
30 years$1,610$1,154$812$562$383$103
31 years$1,541$1,091$757$516$347$88
32 years$1,477$1,032$706$474$314$75
33 years$1,417$978$659$436$284$65
34 years$1,360$927$616$401$257$55
35 years$1,307$879$576$369$233$47
36 years$1,256$834$539$340$211$41
37 years$1,209$792$504$313$191$35
38 years$1,164$753$472$289$173$30
39 years$1,122$716$442$266$157$26
40 years$1,081$681$415$246$143$22
41 years$1,043$649$389$227$129$19
42 years$1,007$618$365$209$117$16
43 years$973$588$342$193$106$14
44 years$940$561$321$178$97$12
45 years$909$535$302$165$88$10
46 years$879$510$283$152$80$9
47 years$850$487$266$140$72$7
48 years$823$465$250$130$66$6
49 years$797$444$235$120$60$5
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 $5,238 every year, while hoping to spend $54,267 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: 73/17/10 Blend
61$791,000$791,000$791,000$791,000
62$877,085$835,162$822,901$939,096
63$908,808$818,345$792,729$963,937
64$941,948$798,886$759,727$983,873
65$976,592$776,597$723,743$1,004,211
66$1,012,835$751,280$684,619$1,024,975
67$1,050,778$722,727$642,188$1,046,193
68$1,090,532$690,716$596,276$1,067,898
69$1,132,218$655,012$546,703$1,090,125
70$1,175,965$615,368$493,278$1,112,915
71$1,221,914$571,521$435,803$1,136,315
72$1,270,218$523,196$374,072$1,160,377
73$1,321,046$470,097$307,869$1,185,161
74$1,374,578$411,917$236,967$1,210,736
75$1,431,011$348,328$161,132$1,237,178
76$1,490,562$278,984$80,118$1,264,573
77$1,553,466$203,520$0$1,293,018
78$1,619,978$121,551$0$1,323,301
79$1,690,377$32,669$0$1,364,035
80$1,764,970$0$0$1,406,831
81$1,844,091$0$0$1,463,766
82$1,928,103$0$0$1,530,729
83$2,017,405$0$0$1,601,928
84$2,112,434$0$0$1,677,714
85$2,213,668$0$0$1,758,470
86$2,321,629$0$0$1,844,617
87$2,436,891$0$0$1,936,614
88$2,560,080$0$0$2,034,967
89$2,691,886$0$0$2,140,227
90$2,833,062$0$0$2,253,001
91$2,984,436$0$0$2,373,954
92$3,146,916$0$0$2,503,815
93$3,321,498$0$0$2,643,385
94$3,509,276$0$0$2,793,542
95$3,711,450$0$0$2,955,253
96$3,929,339$0$0$3,129,577
97$4,164,391$0$0$3,317,677
98$4,418,198$0$0$3,520,834
99$4,692,507$0$0$3,740,452
100$4,989,242$0$0$3,978,077