Can I retire at age 62 with 797,000?

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 $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%14.7%
1 years$65,816$65,229$64,657$64,099$63,554$62,322
2 years$32,582$31,975$31,387$30,817$30,264$29,027
3 years$21,506$20,896$20,309$19,745$19,201$17,998
4 years$15,968$15,361$14,780$14,225$13,694$12,536
5 years$12,647$12,043$11,470$10,926$10,410$9,298
6 years$10,433$9,834$9,269$8,738$8,237$7,174
7 years$8,853$8,259$7,703$7,184$6,699$5,684
8 years$7,668$7,079$6,533$6,026$5,557$4,590
9 years$6,747$6,164$5,627$5,133$4,680$3,761
10 years$6,011$5,433$4,905$4,425$3,988$3,115
11 years$5,409$4,837$4,319$3,851$3,430$2,602
12 years$4,907$4,341$3,833$3,378$2,972$2,189
13 years$4,483$3,923$3,424$2,982$2,592$1,852
14 years$4,120$3,566$3,077$2,647$2,272$1,574
15 years$3,806$3,258$2,778$2,361$2,000$1,342
16 years$3,531$2,989$2,519$2,114$1,768$1,149
17 years$3,289$2,753$2,292$1,899$1,568$986
18 years$3,074$2,544$2,092$1,712$1,394$848
19 years$2,882$2,357$1,915$1,547$1,242$730
20 years$2,709$2,191$1,758$1,401$1,110$630
21 years$2,553$2,040$1,617$1,271$993$545
22 years$2,411$1,905$1,490$1,156$890$471
23 years$2,282$1,781$1,376$1,053$799$408
24 years$2,163$1,669$1,272$960$718$354
25 years$2,055$1,566$1,178$877$646$307
26 years$1,955$1,472$1,093$802$582$267
27 years$1,862$1,385$1,015$734$525$232
28 years$1,776$1,305$944$672$474$201
29 years$1,697$1,232$878$617$428$175
30 years$1,622$1,163$818$566$386$152
31 years$1,553$1,099$762$520$349$132
32 years$1,488$1,040$711$478$316$115
33 years$1,427$985$664$439$286$100
34 years$1,370$934$621$404$259$87
35 years$1,316$886$580$372$234$76
36 years$1,266$841$543$343$212$66
37 years$1,218$798$508$316$193$58
38 years$1,173$759$476$291$175$50
39 years$1,130$721$446$268$158$44
40 years$1,090$686$418$247$144$38
41 years$1,051$653$392$228$130$33
42 years$1,015$622$367$211$118$29
43 years$980$593$345$194$107$25
44 years$947$565$324$180$97$22
45 years$915$539$304$166$88$19
46 years$885$514$285$153$80$17
47 years$857$491$268$142$73$15
48 years$829$468$252$131$66$13
49 years$803$447$237$121$60$11
50 years$778$427$223$112$55$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $797,000, adding $3,504 every year, while hoping to spend $34,499 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: 70/23/7 Blend
61$797,000$797,000$797,000$797,000
62$881,908$839,667$827,314$942,435
63$935,156$844,104$818,322$987,359
64$992,679$847,603$807,873$1,031,918
65$1,054,877$850,080$795,881$1,079,729
66$1,122,189$851,448$782,257$1,131,102
67$1,195,097$851,614$766,908$1,186,381
68$1,274,133$850,479$749,736$1,245,945
69$1,359,881$847,938$730,638$1,310,211
70$1,452,982$843,880$709,507$1,379,640
71$1,554,142$838,187$686,232$1,454,740
72$1,664,140$830,733$660,696$1,536,072
73$1,783,828$821,385$632,775$1,624,254
74$1,914,148$810,002$602,343$1,719,969
75$2,056,134$796,436$569,265$1,823,969
76$2,210,925$780,527$533,400$1,937,085
77$2,379,775$762,107$494,604$2,060,231
78$2,564,062$741,001$452,724$2,194,420
79$2,765,305$717,019$407,599$2,340,765
80$2,985,176$689,963$359,063$2,500,496
81$3,225,515$659,622$306,943$2,674,969
82$3,488,348$625,773$251,056$2,865,680
83$3,775,905$588,182$191,212$3,074,279
84$4,090,643$546,598$127,213$3,302,588
85$4,435,267$500,760$58,853$3,552,615
86$4,812,754$450,387$0$3,826,573
87$5,226,386$395,187$0$4,127,960
88$5,679,774$334,848$0$4,463,176
89$6,176,897$269,042$0$4,830,812
90$6,722,137$197,421$0$5,234,163
91$7,320,320$119,620$0$5,676,864
92$7,976,762$35,251$0$6,162,923
93$8,697,320$0$0$6,696,758
94$9,488,442$0$0$7,297,437
95$10,357,234$0$0$7,966,933
96$11,311,524$0$0$8,702,359
97$12,359,934$0$0$9,510,367
98$13,511,963$0$0$10,398,283
99$14,778,075$0$0$11,374,179
100$16,169,799$0$0$12,446,947