Can I retire at age 62 with 797,000?

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 $797,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.3%
1 years$65,816$65,229$64,657$64,099$63,554$61,668
2 years$32,582$31,975$31,387$30,817$30,264$28,379
3 years$21,506$20,896$20,309$19,745$19,201$17,376
4 years$15,968$15,361$14,780$14,225$13,694$11,944
5 years$12,647$12,043$11,470$10,926$10,410$8,740
6 years$10,433$9,834$9,269$8,738$8,237$6,648
7 years$8,853$8,259$7,703$7,184$6,699$5,190
8 years$7,668$7,079$6,533$6,026$5,557$4,128
9 years$6,747$6,164$5,627$5,133$4,680$3,330
10 years$6,011$5,433$4,905$4,425$3,988$2,714
11 years$5,409$4,837$4,319$3,851$3,430$2,230
12 years$4,907$4,341$3,833$3,378$2,972$1,844
13 years$4,483$3,923$3,424$2,982$2,592$1,533
14 years$4,120$3,566$3,077$2,647$2,272$1,280
15 years$3,806$3,258$2,778$2,361$2,000$1,072
16 years$3,531$2,989$2,519$2,114$1,768$901
17 years$3,289$2,753$2,292$1,899$1,568$758
18 years$3,074$2,544$2,092$1,712$1,394$640
19 years$2,882$2,357$1,915$1,547$1,242$541
20 years$2,709$2,191$1,758$1,401$1,110$457
21 years$2,553$2,040$1,617$1,271$993$388
22 years$2,411$1,905$1,490$1,156$890$329
23 years$2,282$1,781$1,376$1,053$799$279
24 years$2,163$1,669$1,272$960$718$237
25 years$2,055$1,566$1,178$877$646$201
26 years$1,955$1,472$1,093$802$582$171
27 years$1,862$1,385$1,015$734$525$146
28 years$1,776$1,305$944$672$474$124
29 years$1,697$1,232$878$617$428$105
30 years$1,622$1,163$818$566$386$90
31 years$1,553$1,099$762$520$349$76
32 years$1,488$1,040$711$478$316$65
33 years$1,427$985$664$439$286$55
34 years$1,370$934$621$404$259$47
35 years$1,316$886$580$372$234$40
36 years$1,266$841$543$343$212$34
37 years$1,218$798$508$316$193$29
38 years$1,173$759$476$291$175$25
39 years$1,130$721$446$268$158$21
40 years$1,090$686$418$247$144$18
41 years$1,051$653$392$228$130$15
42 years$1,015$622$367$211$118$13
43 years$980$593$345$194$107$11
44 years$947$565$324$180$97$10
45 years$915$539$304$166$88$8
46 years$885$514$285$153$80$7
47 years$857$491$268$142$73$6
48 years$829$468$252$131$66$5
49 years$803$447$237$121$60$4
50 years$778$427$223$112$55$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $797,000, adding $5,160 every year, while hoping to spend $39,930 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: 57/31/12 Blend
61$797,000$797,000$797,000$797,000
62$883,617$841,376$829,022$931,045
63$931,260$840,118$814,309$962,437
64$982,425$837,460$797,765$991,763
65$1,037,429$833,292$779,286$1,022,772
66$1,096,619$827,495$758,764$1,055,632
67$1,160,377$819,946$736,086$1,090,527
68$1,229,124$810,511$711,134$1,127,664
69$1,303,320$799,052$683,782$1,167,272
70$1,383,472$785,419$653,902$1,209,605
71$1,470,137$769,455$621,359$1,254,944
72$1,563,927$750,994$586,010$1,303,602
73$1,665,514$729,859$547,708$1,355,927
74$1,775,638$705,864$506,298$1,412,302
75$1,895,112$678,811$461,618$1,473,156
76$2,024,831$648,490$413,499$1,538,960
77$2,165,778$614,680$361,766$1,610,239
78$2,319,036$577,148$306,234$1,687,574
79$2,485,796$535,646$246,711$1,771,609
80$2,667,366$489,913$182,995$1,863,057
81$2,865,190$439,670$114,877$1,962,707
82$3,080,852$384,628$42,139$2,071,434
83$3,316,100$324,475$0$2,190,206
84$3,572,855$258,887$0$2,324,637
85$3,853,231$187,518$0$2,477,425
86$4,159,559$110,004$0$2,644,511
87$4,494,401$25,961$0$2,827,381
88$4,860,579$0$0$3,027,676
89$5,261,202$0$0$3,269,386
90$5,699,690$0$0$3,543,704
91$6,179,813$0$0$3,844,139
92$6,705,719$0$0$4,173,295
93$7,281,978$0$0$4,534,043
94$7,913,622$0$0$4,929,542
95$8,606,193$0$0$5,363,272
96$9,365,797$0$0$5,839,067
97$10,199,155$0$0$6,361,148
98$11,113,675$0$0$6,934,166
99$12,117,513$0$0$7,563,243
100$13,219,655$0$0$8,254,023