Can I retire at age 62 with 796,000?

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 $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%15.1%
1 years$65,733$65,147$64,576$64,019$63,474$62,142
2 years$32,541$31,935$31,348$30,778$30,226$28,890
3 years$21,479$20,870$20,284$19,720$19,176$17,878
4 years$15,948$15,342$14,762$14,207$13,677$12,427
5 years$12,631$12,028$11,456$10,912$10,397$9,198
6 years$10,420$9,822$9,258$8,727$8,227$7,081
7 years$8,842$8,248$7,693$7,175$6,691$5,598
8 years$7,659$7,070$6,525$6,019$5,550$4,510
9 years$6,739$6,156$5,620$5,127$4,674$3,686
10 years$6,003$5,426$4,899$4,419$3,983$3,046
11 years$5,402$4,831$4,313$3,846$3,425$2,538
12 years$4,901$4,336$3,828$3,373$2,968$2,130
13 years$4,478$3,918$3,420$2,978$2,588$1,797
14 years$4,115$3,562$3,073$2,644$2,269$1,523
15 years$3,801$3,254$2,774$2,358$1,998$1,295
16 years$3,527$2,985$2,515$2,111$1,766$1,105
17 years$3,285$2,749$2,289$1,897$1,566$946
18 years$3,070$2,540$2,089$1,709$1,392$811
19 years$2,878$2,354$1,913$1,545$1,241$697
20 years$2,705$2,188$1,755$1,399$1,108$599
21 years$2,549$2,038$1,615$1,270$992$516
22 years$2,408$1,902$1,488$1,154$889$446
23 years$2,279$1,779$1,374$1,051$798$385
24 years$2,161$1,667$1,271$959$717$332
25 years$2,052$1,564$1,177$876$645$287
26 years$1,952$1,470$1,092$801$581$249
27 years$1,860$1,384$1,014$733$524$215
28 years$1,774$1,304$942$671$473$187
29 years$1,694$1,230$877$616$427$162
30 years$1,620$1,162$817$565$386$140
31 years$1,551$1,098$761$519$349$122
32 years$1,486$1,039$710$477$316$105
33 years$1,426$984$663$439$286$91
34 years$1,368$933$620$404$259$79
35 years$1,315$885$579$372$234$69
36 years$1,264$840$542$342$212$60
37 years$1,217$797$507$315$192$52
38 years$1,171$758$475$291$174$45
39 years$1,129$721$445$268$158$39
40 years$1,088$686$417$247$143$34
41 years$1,050$653$391$228$130$29
42 years$1,013$622$367$210$118$26
43 years$979$592$344$194$107$22
44 years$946$564$323$179$97$19
45 years$914$538$304$166$88$17
46 years$884$513$285$153$80$15
47 years$856$490$268$141$73$13
48 years$828$468$252$131$66$11
49 years$802$447$237$121$60$10
50 years$777$427$222$112$55$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $796,000, adding $3,140 every year, while hoping to spend $26,943 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: 66/15/19 Blend
61$796,000$796,000$796,000$796,000
62$880,431$838,243$825,905$934,169
63$941,568$850,650$824,906$982,976
64$1,008,037$862,761$822,970$1,032,920
65$1,080,356$874,535$820,038$1,086,871
66$1,159,090$885,925$816,046$1,145,222
67$1,244,863$896,882$810,931$1,208,406
68$1,338,363$907,353$804,621$1,276,903
69$1,440,346$917,283$797,045$1,351,237
70$1,551,644$926,612$788,129$1,431,991
71$1,673,171$935,276$777,791$1,519,805
72$1,805,938$943,207$765,950$1,615,385
73$1,951,052$950,334$752,518$1,719,510
74$2,109,737$956,578$737,405$1,833,040
75$2,283,338$961,857$720,516$1,956,920
76$2,473,336$966,086$701,750$2,092,196
77$2,681,362$969,170$681,005$2,240,019
78$2,909,213$971,011$658,170$2,401,658
79$3,158,866$971,504$633,133$2,578,514
80$3,432,501$970,539$605,774$2,772,130
81$3,732,517$967,996$575,968$2,984,208
82$4,061,557$963,751$543,585$3,216,626
83$4,422,530$957,669$508,490$3,471,453
84$4,818,644$949,611$470,541$3,750,971
85$5,253,430$939,426$429,587$4,057,695
86$5,730,777$926,955$385,476$4,394,400
87$6,254,970$912,030$338,044$4,764,143
88$6,830,731$894,473$287,122$5,170,297
89$7,463,258$874,094$232,533$5,616,580
90$8,158,280$850,695$174,093$6,107,090
91$8,922,109$824,063$111,609$6,646,347
92$9,761,696$793,974$44,880$7,239,332
93$10,684,701$760,191$0$7,891,538
94$11,699,563$722,463$0$8,614,359
95$12,815,580$680,525$0$9,419,188
96$14,042,993$634,095$0$10,304,324
97$15,393,090$582,877$0$11,277,928
98$16,878,305$526,558$0$12,348,993
99$18,512,338$464,805$0$13,527,433
100$20,310,284$397,268$0$14,824,170