Can I retire at age 62 with 798,000?

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 $798,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.7%
1 years$65,898$65,311$64,738$64,179$63,634$61,895
2 years$32,623$32,015$31,426$30,856$30,302$28,562
3 years$21,533$20,922$20,335$19,769$19,225$17,539
4 years$15,988$15,380$14,799$14,243$13,711$12,093
5 years$12,663$12,058$11,484$10,940$10,423$8,876
6 years$10,447$9,846$9,281$8,749$8,247$6,774
7 years$8,864$8,269$7,713$7,193$6,707$5,307
8 years$7,678$7,088$6,541$6,034$5,564$4,236
9 years$6,756$6,171$5,634$5,139$4,686$3,429
10 years$6,018$5,440$4,912$4,430$3,993$2,805
11 years$5,415$4,843$4,324$3,856$3,434$2,314
12 years$4,913$4,347$3,838$3,382$2,976$1,921
13 years$4,489$3,928$3,429$2,986$2,595$1,604
14 years$4,125$3,570$3,081$2,650$2,275$1,344
15 years$3,811$3,262$2,781$2,364$2,003$1,131
16 years$3,535$2,993$2,522$2,116$1,770$954
17 years$3,293$2,756$2,295$1,902$1,569$807
18 years$3,078$2,547$2,095$1,714$1,395$684
19 years$2,885$2,360$1,918$1,548$1,244$580
20 years$2,712$2,193$1,760$1,402$1,111$493
21 years$2,556$2,043$1,619$1,273$994$420
22 years$2,414$1,907$1,492$1,157$891$358
23 years$2,285$1,784$1,378$1,054$800$305
24 years$2,166$1,671$1,274$961$719$260
25 years$2,057$1,568$1,180$878$647$222
26 years$1,957$1,474$1,094$803$583$190
27 years$1,864$1,387$1,016$735$525$162
28 years$1,779$1,307$945$673$474$139
29 years$1,699$1,233$879$617$428$119
30 years$1,624$1,165$819$567$387$102
31 years$1,555$1,101$763$520$350$87
32 years$1,490$1,042$712$478$316$74
33 years$1,429$986$665$440$286$64
34 years$1,372$935$621$405$259$54
35 years$1,318$887$581$372$235$47
36 years$1,267$842$543$343$213$40
37 years$1,220$799$509$316$193$34
38 years$1,174$760$476$291$175$29
39 years$1,132$722$446$269$159$25
40 years$1,091$687$418$248$144$21
41 years$1,053$654$392$229$130$18
42 years$1,016$623$368$211$118$16
43 years$981$594$345$195$107$14
44 years$948$566$324$180$98$12
45 years$917$540$304$166$89$10
46 years$887$515$286$153$80$9
47 years$858$491$269$142$73$7
48 years$830$469$252$131$66$6
49 years$804$448$237$121$60$5
50 years$779$428$223$112$55$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $798,000, adding $2,481 every year, while hoping to spend $41,301 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: 27/50/23 Blend
61$798,000$798,000$798,000$798,000
62$881,955$839,661$827,292$899,318
63$927,971$836,861$811,062$910,461
64$977,295$832,539$792,905$918,637
65$1,030,224$826,577$772,711$926,543
66$1,087,078$818,850$750,368$934,184
67$1,148,211$809,226$725,758$941,566
68$1,214,014$797,563$698,755$948,703
69$1,284,912$783,712$669,232$955,612
70$1,361,374$767,515$637,052$962,317
71$1,443,915$748,805$602,075$968,852
72$1,533,102$727,403$564,152$975,255
73$1,629,556$703,123$523,128$981,576
74$1,733,960$675,766$478,843$987,878
75$1,847,067$645,121$431,127$994,232
76$1,969,702$610,967$379,804$1,000,727
77$2,102,774$573,067$324,690$1,007,466
78$2,247,283$531,173$265,593$1,014,570
79$2,404,328$485,022$202,312$1,022,181
80$2,575,117$434,336$134,637$1,030,462
81$2,760,982$378,822$62,351$1,039,604
82$2,963,386$318,167$0$1,049,825
83$3,183,939$252,046$0$1,065,006
84$3,424,416$180,111$0$1,098,369
85$3,686,766$101,996$0$1,134,985
86$3,973,136$17,314$0$1,175,289
87$4,285,892$0$0$1,219,770
88$4,627,636$0$0$1,309,879
89$5,001,231$0$0$1,418,928
90$5,409,832$0$0$1,538,325
91$5,856,913$0$0$1,669,103
92$6,346,298$0$0$1,812,397
93$6,882,197$0$0$1,969,458
94$7,469,248$0$0$2,141,664
95$8,112,558$0$0$2,330,531
96$8,817,751$0$0$2,537,731
97$9,591,021$0$0$2,765,104
98$10,439,192$0$0$3,014,678
99$11,369,778$0$0$3,288,685
100$12,391,055$0$0$3,589,586