Can I retire at age 62 with 795,000?

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 $795,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$65,650$65,066$64,495$63,938$63,394$61,292
2 years$32,500$31,895$31,308$30,740$30,188$28,090
3 years$21,452$20,844$20,259$19,695$19,152$17,125
4 years$15,928$15,322$14,743$14,189$13,660$11,718
5 years$12,615$12,013$11,441$10,899$10,384$8,533
6 years$10,407$9,809$9,246$8,716$8,216$6,459
7 years$8,831$8,238$7,684$7,166$6,682$5,017
8 years$7,649$7,061$6,516$6,011$5,543$3,970
9 years$6,730$6,148$5,613$5,120$4,668$3,184
10 years$5,996$5,419$4,893$4,414$3,978$2,580
11 years$5,395$4,825$4,308$3,841$3,421$2,108
12 years$4,895$4,330$3,823$3,369$2,965$1,733
13 years$4,472$3,913$3,416$2,975$2,585$1,432
14 years$4,110$3,557$3,069$2,640$2,266$1,188
15 years$3,796$3,249$2,771$2,355$1,995$989
16 years$3,522$2,981$2,512$2,108$1,763$825
17 years$3,281$2,746$2,286$1,894$1,564$690
18 years$3,066$2,537$2,087$1,707$1,390$579
19 years$2,874$2,351$1,910$1,543$1,239$486
20 years$2,702$2,185$1,753$1,397$1,107$408
21 years$2,546$2,035$1,613$1,268$990$343
22 years$2,405$1,900$1,486$1,153$888$289
23 years$2,276$1,777$1,372$1,050$797$244
24 years$2,158$1,665$1,269$958$716$205
25 years$2,050$1,562$1,176$875$645$173
26 years$1,950$1,468$1,090$800$581$146
27 years$1,857$1,382$1,012$732$523$123
28 years$1,772$1,302$941$671$472$104
29 years$1,692$1,228$876$615$427$88
30 years$1,618$1,160$816$564$385$74
31 years$1,549$1,097$761$518$348$63
32 years$1,484$1,038$710$476$315$53
33 years$1,424$983$663$438$285$45
34 years$1,367$931$619$403$258$38
35 years$1,313$883$579$371$234$32
36 years$1,263$838$541$342$212$27
37 years$1,215$796$507$315$192$23
38 years$1,170$757$475$290$174$19
39 years$1,127$720$445$268$158$16
40 years$1,087$685$417$247$143$14
41 years$1,049$652$391$228$130$12
42 years$1,012$621$367$210$118$10
43 years$978$591$344$194$107$8
44 years$945$564$323$179$97$7
45 years$913$538$303$165$88$6
46 years$883$513$285$153$80$5
47 years$855$489$268$141$73$4
48 years$827$467$251$130$66$4
49 years$801$446$236$121$60$3
50 years$776$426$222$111$54$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $795,000, adding $6,770 every year, while hoping to spend $21,308 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: 47/45/8 Blend
61$795,000$795,000$795,000$795,000
62$883,073$840,938$828,616$922,346
63$950,475$859,473$833,703$968,581
64$1,024,038$878,201$838,246$1,015,951
65$1,104,367$897,111$842,205$1,066,864
66$1,192,131$916,187$845,537$1,121,655
67$1,288,062$935,414$848,196$1,180,695
68$1,392,970$954,775$850,136$1,244,389
69$1,507,744$974,250$851,307$1,313,187
70$1,633,366$993,820$851,658$1,387,580
71$1,770,913$1,013,461$851,132$1,468,114
72$1,921,575$1,033,150$849,674$1,555,388
73$2,086,660$1,052,859$847,223$1,650,062
74$2,267,611$1,072,560$843,716$1,752,864
75$2,466,013$1,092,221$839,086$1,864,596
76$2,683,617$1,111,810$833,266$1,986,143
77$2,922,347$1,131,291$826,182$2,118,478
78$3,184,326$1,150,623$817,758$2,262,677
79$3,471,889$1,169,765$807,915$2,419,922
80$3,787,610$1,188,672$796,568$2,591,519
81$4,134,325$1,207,296$783,632$2,778,906
82$4,515,157$1,225,584$769,015$2,983,670
83$4,933,546$1,243,481$752,620$3,207,557
84$5,393,284$1,260,927$734,348$3,452,494
85$5,898,544$1,277,859$714,095$3,720,606
86$6,453,928$1,294,206$691,750$4,014,234
87$7,064,504$1,309,898$667,199$4,335,959
88$7,735,856$1,324,855$640,322$4,688,626
89$8,474,135$1,338,994$610,994$5,075,373
90$9,286,118$1,352,227$579,084$5,499,656
91$10,179,274$1,364,458$544,455$5,965,287
92$11,161,830$1,375,586$506,965$6,476,469
93$12,242,851$1,385,504$466,462$7,037,834
94$13,432,326$1,394,098$422,793$7,654,488
95$14,741,259$1,401,245$375,792$8,332,060
96$16,181,777$1,406,815$325,290$9,076,756
97$17,767,240$1,410,671$271,109$9,895,416
98$19,512,370$1,412,665$213,064$10,795,580
99$21,433,389$1,412,643$150,959$11,785,561
100$23,548,171$1,410,439$84,592$12,874,522