Can I retire at age 62 with 794,000?

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 $794,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.9%
1 years$65,568$64,984$64,414$63,858$63,315$62,810
2 years$32,459$31,855$31,269$30,701$30,150$29,642
3 years$21,425$20,817$20,233$19,670$19,128$18,632
4 years$15,908$15,303$14,724$14,171$13,642$13,161
5 years$12,599$11,998$11,427$10,885$10,371$9,907
6 years$10,394$9,797$9,235$8,705$8,206$7,759
7 years$8,820$8,228$7,674$7,157$6,674$6,245
8 years$7,639$7,053$6,508$6,004$5,536$5,125
9 years$6,722$6,141$5,605$5,114$4,663$4,269
10 years$5,988$5,413$4,887$4,408$3,973$3,597
11 years$5,388$4,818$4,302$3,836$3,417$3,058
12 years$4,889$4,325$3,818$3,365$2,961$2,619
13 years$4,466$3,908$3,411$2,971$2,582$2,256
14 years$4,105$3,553$3,065$2,637$2,263$1,953
15 years$3,791$3,245$2,767$2,352$1,993$1,698
16 years$3,518$2,978$2,509$2,106$1,761$1,482
17 years$3,276$2,742$2,283$1,892$1,562$1,297
18 years$3,062$2,534$2,084$1,705$1,389$1,138
19 years$2,871$2,348$1,908$1,541$1,238$1,001
20 years$2,699$2,182$1,751$1,395$1,105$882
21 years$2,543$2,033$1,611$1,266$989$778
22 years$2,402$1,897$1,484$1,151$887$688
23 years$2,273$1,775$1,371$1,049$796$609
24 years$2,155$1,663$1,268$956$715$539
25 years$2,047$1,560$1,174$873$644$478
26 years$1,947$1,467$1,089$799$580$425
27 years$1,855$1,380$1,011$731$523$377
28 years$1,770$1,301$940$670$472$335
29 years$1,690$1,227$875$614$426$298
30 years$1,616$1,159$815$564$385$265
31 years$1,547$1,095$760$518$348$236
32 years$1,483$1,036$709$476$315$210
33 years$1,422$981$662$438$285$187
34 years$1,365$930$618$403$258$167
35 years$1,312$882$578$371$234$149
36 years$1,261$837$541$341$212$133
37 years$1,213$795$506$314$192$118
38 years$1,168$756$474$290$174$106
39 years$1,126$719$444$267$158$94
40 years$1,086$684$416$247$143$84
41 years$1,047$651$390$227$130$75
42 years$1,011$620$366$210$118$67
43 years$976$591$344$194$107$60
44 years$943$563$322$179$97$53
45 years$912$537$303$165$88$48
46 years$882$512$284$153$80$43
47 years$854$489$267$141$73$38
48 years$826$467$251$130$66$34
49 years$800$446$236$120$60$30
50 years$775$426$222$111$54$27

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $794,000, adding $3,064 every year, while hoping to spend $32,502 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: 49/41/10 Blend
61$794,000$794,000$794,000$794,000
62$878,149$836,067$823,760$918,670
63$933,138$842,452$816,774$953,158
64$992,647$848,061$808,464$986,926
65$1,057,102$852,821$798,753$1,022,856
66$1,126,972$856,655$787,557$1,061,162
67$1,202,774$859,482$774,791$1,102,078
68$1,285,074$861,214$760,364$1,145,862
69$1,374,497$861,759$744,181$1,192,804
70$1,471,729$861,018$726,145$1,243,221
71$1,577,525$858,888$706,150$1,297,466
72$1,692,716$855,257$684,090$1,355,928
73$1,818,217$850,008$659,851$1,419,039
74$1,955,033$843,017$633,314$1,487,276
75$2,104,273$834,150$604,356$1,561,169
76$2,267,154$823,269$572,847$1,641,301
77$2,445,019$810,224$538,653$1,728,320
78$2,639,344$794,859$501,631$1,822,941
79$2,851,756$777,006$461,635$1,925,954
80$3,084,045$756,489$418,509$2,038,236
81$3,338,182$733,121$372,093$2,160,753
82$3,616,337$706,705$322,219$2,294,574
83$3,920,900$677,030$268,710$2,440,884
84$4,254,503$643,875$211,383$2,600,987
85$4,620,044$607,007$150,046$2,776,330
86$5,020,715$566,177$84,499$2,968,507
87$5,460,032$521,123$14,533$3,179,284
88$5,941,865$471,569$0$3,410,610
89$6,470,481$417,221$0$3,671,054
90$7,050,575$357,770$0$3,958,652
91$7,687,322$292,889$0$4,274,503
92$8,386,422$222,234$0$4,621,536
93$9,154,152$145,438$0$5,002,986
94$9,997,428$62,117$0$5,422,420
95$10,923,870$0$0$5,883,778
96$11,941,869$0$0$6,404,101
97$13,060,674$0$0$7,006,838
98$14,290,469$0$0$7,669,464
99$15,642,478$0$0$8,398,039
100$17,129,065$0$0$9,199,235