Can I retire at age 62 with 792,000?

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 $792,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.2%
1 years$65,403$64,820$64,252$63,697$63,155$62,574
2 years$32,378$31,775$31,190$30,624$30,074$29,488
3 years$21,371$20,765$20,182$19,621$19,080$18,508
4 years$15,868$15,264$14,687$14,136$13,608$13,054
5 years$12,568$11,968$11,398$10,858$10,345$9,811
6 years$10,368$9,772$9,211$8,683$8,185$7,672
7 years$8,797$8,207$7,655$7,139$6,657$6,164
8 years$7,620$7,035$6,492$5,988$5,523$5,050
9 years$6,705$6,125$5,591$5,101$4,651$4,199
10 years$5,973$5,399$4,875$4,397$3,963$3,531
11 years$5,375$4,806$4,292$3,827$3,408$2,997
12 years$4,876$4,314$3,809$3,357$2,953$2,561
13 years$4,455$3,899$3,403$2,963$2,575$2,203
14 years$4,094$3,544$3,057$2,630$2,258$1,903
15 years$3,782$3,237$2,760$2,346$1,988$1,652
16 years$3,509$2,970$2,503$2,101$1,757$1,438
17 years$3,268$2,735$2,277$1,887$1,558$1,256
18 years$3,054$2,528$2,079$1,701$1,385$1,100
19 years$2,863$2,343$1,903$1,537$1,234$965
20 years$2,692$2,177$1,747$1,392$1,103$849
21 years$2,537$2,028$1,607$1,263$987$747
22 years$2,396$1,893$1,481$1,149$884$659
23 years$2,267$1,770$1,367$1,046$794$582
24 years$2,150$1,659$1,264$954$714$514
25 years$2,042$1,556$1,171$871$642$455
26 years$1,942$1,463$1,086$797$578$403
27 years$1,850$1,377$1,009$729$522$357
28 years$1,765$1,297$938$668$471$317
29 years$1,686$1,224$873$613$425$281
30 years$1,612$1,156$813$562$384$249
31 years$1,543$1,093$758$516$347$222
32 years$1,479$1,034$707$475$314$197
33 years$1,418$979$660$436$284$175
34 years$1,362$928$617$402$257$156
35 years$1,308$880$577$370$233$138
36 years$1,258$835$539$340$211$123
37 years$1,210$793$505$314$191$109
38 years$1,166$754$473$289$173$97
39 years$1,123$717$443$267$157$87
40 years$1,083$682$415$246$143$77
41 years$1,045$649$389$227$129$69
42 years$1,008$618$365$209$117$61
43 years$974$589$343$193$107$54
44 years$941$562$322$178$97$49
45 years$910$536$302$165$88$43
46 years$880$511$284$152$80$38
47 years$851$488$266$141$72$34
48 years$824$465$250$130$66$31
49 years$798$444$235$120$60$27
50 years$773$425$221$111$54$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $792,000, adding $6,356 every year, while hoping to spend $49,415 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: 58/35/7 Blend
61$792,000$792,000$792,000$792,000
62$879,340$837,364$825,088$928,653
63$916,456$825,818$800,151$950,983
64$955,701$812,050$772,723$969,158
65$997,241$795,898$742,668$987,739
66$1,041,255$777,193$709,843$1,006,768
67$1,087,942$755,754$674,101$1,026,294
68$1,137,515$731,390$635,287$1,046,373
69$1,190,212$703,898$593,239$1,067,071
70$1,246,288$673,063$547,787$1,088,460
71$1,306,026$638,660$498,755$1,110,626
72$1,369,735$600,449$445,957$1,133,664
73$1,437,753$558,176$389,202$1,157,684
74$1,510,450$511,573$328,287$1,182,810
75$1,588,233$460,357$263,001$1,209,182
76$1,671,547$404,228$193,126$1,236,959
77$1,760,880$342,871$118,431$1,266,321
78$1,856,768$275,950$38,677$1,297,470
79$1,959,800$203,113$0$1,330,636
80$2,070,621$123,987$0$1,369,542
81$2,189,940$38,178$0$1,414,319
82$2,318,534$0$0$1,462,418
83$2,457,260$0$0$1,535,305
84$2,607,057$0$0$1,629,938
85$2,768,955$0$0$1,732,271
86$2,944,091$0$0$1,843,028
87$3,133,711$0$0$1,963,006
88$3,339,186$0$0$2,093,079
89$3,562,023$0$0$2,234,210
90$3,803,880$0$0$2,387,457
91$4,066,581$0$0$2,553,984
92$4,352,129$0$0$2,735,071
93$4,662,733$0$0$2,932,128
94$5,000,819$0$0$3,146,703
95$5,369,058$0$0$3,380,504
96$5,770,389$0$0$3,635,406
97$6,208,047$0$0$3,913,477
98$6,685,593$0$0$4,216,989
99$7,206,944$0$0$4,548,447
100$7,776,414$0$0$4,910,604