Can I retire at age 62 with 796,000?

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 $796,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$65,733$65,147$64,576$64,019$63,474$63,154
2 years$32,541$31,935$31,348$30,778$30,226$29,902
3 years$21,479$20,870$20,284$19,720$19,176$18,860
4 years$15,948$15,342$14,762$14,207$13,677$13,370
5 years$12,631$12,028$11,456$10,912$10,397$10,100
6 years$10,420$9,822$9,258$8,727$8,227$7,941
7 years$8,842$8,248$7,693$7,175$6,691$6,416
8 years$7,659$7,070$6,525$6,019$5,550$5,287
9 years$6,739$6,156$5,620$5,127$4,674$4,421
10 years$6,003$5,426$4,899$4,419$3,983$3,740
11 years$5,402$4,831$4,313$3,846$3,425$3,194
12 years$4,901$4,336$3,828$3,373$2,968$2,747
13 years$4,478$3,918$3,420$2,978$2,588$2,377
14 years$4,115$3,562$3,073$2,644$2,269$2,068
15 years$3,801$3,254$2,774$2,358$1,998$1,806
16 years$3,527$2,985$2,515$2,111$1,766$1,584
17 years$3,285$2,749$2,289$1,897$1,566$1,393
18 years$3,070$2,540$2,089$1,709$1,392$1,228
19 years$2,878$2,354$1,913$1,545$1,241$1,086
20 years$2,705$2,188$1,755$1,399$1,108$961
21 years$2,549$2,038$1,615$1,270$992$853
22 years$2,408$1,902$1,488$1,154$889$758
23 years$2,279$1,779$1,374$1,051$798$674
24 years$2,161$1,667$1,271$959$717$600
25 years$2,052$1,564$1,177$876$645$535
26 years$1,952$1,470$1,092$801$581$478
27 years$1,860$1,384$1,014$733$524$427
28 years$1,774$1,304$942$671$473$382
29 years$1,694$1,230$877$616$427$341
30 years$1,620$1,162$817$565$386$305
31 years$1,551$1,098$761$519$349$273
32 years$1,486$1,039$710$477$316$245
33 years$1,426$984$663$439$286$219
34 years$1,368$933$620$404$259$197
35 years$1,315$885$579$372$234$176
36 years$1,264$840$542$342$212$158
37 years$1,217$797$507$315$192$142
38 years$1,171$758$475$291$174$127
39 years$1,129$721$445$268$158$114
40 years$1,088$686$417$247$143$103
41 years$1,050$653$391$228$130$92
42 years$1,013$622$367$210$118$83
43 years$979$592$344$194$107$74
44 years$946$564$323$179$97$67
45 years$914$538$304$166$88$60
46 years$884$513$285$153$80$54
47 years$856$490$268$141$73$48
48 years$828$468$252$131$66$44
49 years$802$447$237$121$60$39
50 years$777$427$222$112$55$35

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $796,000, adding $4,689 every year, while hoping to spend $56,371 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: 56/39/5 Blend
61$796,000$796,000$796,000$796,000
62$882,029$839,841$827,503$930,289
63$912,017$821,015$795,246$944,476
64$943,175$799,377$760,019$953,179
65$975,563$774,730$721,663$961,253
66$1,009,244$746,865$680,012$968,642
67$1,044,286$715,561$634,892$975,291
68$1,080,764$680,584$586,122$981,139
69$1,118,757$641,688$533,512$986,126
70$1,158,349$598,609$476,863$990,185
71$1,199,632$551,073$415,970$993,250
72$1,242,705$498,786$350,615$995,251
73$1,287,674$441,439$280,573$996,116
74$1,334,653$378,705$205,609$995,770
75$1,383,766$310,241$125,476$994,136
76$1,435,148$235,680$39,917$991,133
77$1,488,943$154,639$0$986,681
78$1,545,309$66,710$0$983,438
79$1,604,415$0$0$981,026
80$1,666,448$0$0$989,491
81$1,731,606$0$0$1,028,476
82$1,800,109$0$0$1,069,486
83$1,872,194$0$0$1,112,667
84$1,948,118$0$0$1,158,176
85$2,028,162$0$0$1,206,186
86$2,112,633$0$0$1,256,883
87$2,201,865$0$0$1,310,473
88$2,296,221$0$0$1,367,180
89$2,396,099$0$0$1,427,246
90$2,501,933$0$0$1,490,938
91$2,614,197$0$0$1,558,547
92$2,733,409$0$0$1,630,391
93$2,860,137$0$0$1,706,820
94$2,995,001$0$0$1,788,213
95$3,138,680$0$0$1,874,988
96$3,291,916$0$0$1,967,601
97$3,455,525$0$0$2,066,555
98$3,630,399$0$0$2,172,397
99$3,817,517$0$0$2,285,729
100$4,017,949$0$0$2,407,210