Can I retire at age 62 with 799,000?

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 $799,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$65,981$65,393$64,820$64,260$63,713$61,600
2 years$32,664$32,055$31,466$30,894$30,340$28,231
3 years$21,559$20,949$20,360$19,794$19,249$17,211
4 years$16,008$15,399$14,817$14,261$13,728$11,777
5 years$12,679$12,073$11,499$10,954$10,436$8,576
6 years$10,460$9,859$9,293$8,760$8,258$6,491
7 years$8,875$8,279$7,722$7,202$6,716$5,042
8 years$7,687$7,097$6,549$6,041$5,571$3,990
9 years$6,764$6,179$5,641$5,146$4,692$3,200
10 years$6,026$5,447$4,918$4,436$3,998$2,593
11 years$5,422$4,849$4,329$3,860$3,438$2,118
12 years$4,919$4,352$3,842$3,386$2,979$1,742
13 years$4,494$3,933$3,433$2,989$2,598$1,439
14 years$4,131$3,575$3,084$2,654$2,278$1,194
15 years$3,815$3,266$2,785$2,367$2,005$994
16 years$3,540$2,996$2,525$2,119$1,772$829
17 years$3,297$2,759$2,298$1,904$1,571$694
18 years$3,081$2,550$2,097$1,716$1,397$581
19 years$2,889$2,363$1,920$1,550$1,245$488
20 years$2,716$2,196$1,762$1,404$1,112$410
21 years$2,559$2,045$1,621$1,274$995$345
22 years$2,417$1,909$1,494$1,159$892$291
23 years$2,287$1,786$1,379$1,055$801$245
24 years$2,169$1,673$1,276$962$720$206
25 years$2,060$1,570$1,181$879$648$174
26 years$1,960$1,476$1,096$804$584$147
27 years$1,867$1,389$1,017$736$526$124
28 years$1,781$1,309$946$674$475$105
29 years$1,701$1,235$880$618$429$89
30 years$1,626$1,166$820$567$387$75
31 years$1,557$1,102$764$521$350$63
32 years$1,492$1,043$713$479$317$53
33 years$1,431$988$666$440$287$45
34 years$1,374$936$622$405$260$38
35 years$1,320$888$582$373$235$32
36 years$1,269$843$544$343$213$27
37 years$1,221$800$509$316$193$23
38 years$1,176$761$477$292$175$20
39 years$1,133$723$447$269$159$17
40 years$1,092$688$419$248$144$14
41 years$1,054$655$393$229$131$12
42 years$1,017$624$368$211$119$10
43 years$982$594$346$195$108$8
44 years$949$567$324$180$98$7
45 years$918$540$305$166$89$6
46 years$888$515$286$154$80$5
47 years$859$492$269$142$73$4
48 years$831$470$253$131$66$4
49 years$805$448$237$121$60$3
50 years$780$428$223$112$55$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $799,000, adding $3,901 every year, while hoping to spend $49,721 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: 90/5/5 Blend
61$799,000$799,000$799,000$799,000
62$884,522$842,175$829,790$963,934
63$921,840$830,539$804,686$1,004,500
64$961,299$816,666$777,073$1,041,640
65$1,003,063$800,394$746,817$1,080,810
66$1,047,314$781,553$713,774$1,122,173
67$1,094,250$759,958$677,796$1,165,907
68$1,144,087$735,420$638,725$1,212,211
69$1,197,062$707,733$596,400$1,261,298
70$1,253,432$676,682$550,649$1,313,406
71$1,313,482$642,039$501,296$1,368,794
72$1,377,521$603,563$448,153$1,427,749
73$1,445,889$560,998$391,027$1,490,583
74$1,518,958$514,075$329,715$1,557,642
75$1,597,136$462,510$264,005$1,629,303
76$1,680,871$405,999$193,676$1,705,985
77$1,770,652$344,226$118,497$1,788,145
78$1,867,019$276,854$38,227$1,876,287
79$1,970,562$203,526$0$1,970,965
80$2,081,929$123,869$0$2,075,320
81$2,201,832$37,484$0$2,189,834
82$2,331,053$0$0$2,313,219
83$2,470,450$0$0$2,449,386
84$2,620,967$0$0$2,598,643
85$2,783,641$0$0$2,759,957
86$2,959,610$0$0$2,934,456
87$3,150,128$0$0$3,123,384
88$3,356,570$0$0$3,328,104
89$3,580,451$0$0$3,550,120
90$3,823,436$0$0$3,791,082
91$4,087,355$0$0$4,052,805
92$4,374,222$0$0$4,337,287
93$4,686,254$0$0$4,646,727
94$5,025,887$0$0$4,983,541
95$5,395,805$0$0$5,350,389
96$5,798,958$0$0$5,750,200
97$6,238,596$0$0$6,186,194
98$6,718,293$0$0$6,661,919
99$7,241,986$0$0$7,181,276
100$7,814,005$0$0$7,748,563