Can I retire at age 62 with 800,000?

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 $800,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$66,063$65,475$64,901$64,340$63,793$61,505
2 years$32,705$32,095$31,505$30,933$30,378$28,097
3 years$21,586$20,975$20,386$19,819$19,273$17,072
4 years$16,029$15,419$14,836$14,278$13,746$11,641
5 years$12,695$12,088$11,513$10,967$10,449$8,446
6 years$10,473$9,871$9,304$8,771$8,268$6,368
7 years$8,886$8,290$7,732$7,211$6,724$4,927
8 years$7,697$7,106$6,557$6,049$5,578$3,882
9 years$6,773$6,187$5,648$5,152$4,698$3,100
10 years$6,033$5,453$4,924$4,441$4,003$2,501
11 years$5,429$4,855$4,335$3,865$3,442$2,034
12 years$4,926$4,357$3,847$3,390$2,983$1,665
13 years$4,500$3,938$3,437$2,993$2,601$1,369
14 years$4,136$3,579$3,088$2,657$2,280$1,130
15 years$3,820$3,270$2,788$2,370$2,008$936
16 years$3,544$3,000$2,528$2,122$1,775$777
17 years$3,301$2,763$2,300$1,906$1,573$647
18 years$3,085$2,553$2,100$1,718$1,399$539
19 years$2,892$2,366$1,922$1,552$1,247$450
20 years$2,719$2,199$1,764$1,406$1,114$376
21 years$2,562$2,048$1,623$1,276$997$315
22 years$2,420$1,912$1,496$1,160$893$264
23 years$2,290$1,788$1,381$1,057$802$221
24 years$2,172$1,675$1,277$964$721$185
25 years$2,063$1,572$1,183$880$649$155
26 years$1,962$1,478$1,097$805$584$130
27 years$1,869$1,391$1,019$737$527$110
28 years$1,783$1,310$947$675$475$92
29 years$1,703$1,236$881$619$429$77
30 years$1,628$1,167$821$568$388$65
31 years$1,559$1,104$765$522$351$55
32 years$1,494$1,044$714$479$317$46
33 years$1,433$989$667$441$287$39
34 years$1,375$937$623$406$260$32
35 years$1,321$889$582$373$235$27
36 years$1,271$844$545$344$213$23
37 years$1,223$801$510$317$193$19
38 years$1,177$762$478$292$175$16
39 years$1,134$724$447$269$159$14
40 years$1,094$689$419$248$144$11
41 years$1,055$656$393$229$131$10
42 years$1,019$625$369$211$119$8
43 years$984$595$346$195$108$7
44 years$951$567$325$180$98$6
45 years$919$541$305$166$89$5
46 years$889$516$287$154$81$4
47 years$860$492$269$142$73$3
48 years$833$470$253$131$66$3
49 years$806$449$238$121$60$2
50 years$781$429$224$112$55$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $800,000, adding $4,589 every year, while hoping to spend $40,771 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: 26/44/30 Blend
61$800,000$800,000$800,000$800,000
62$886,334$843,934$831,534$901,020
63$933,360$841,906$816,010$911,542
64$983,816$838,413$798,600$919,068
65$1,038,009$833,339$779,197$926,319
66$1,096,276$826,563$757,690$933,303
67$1,158,986$817,955$733,963$940,028
68$1,226,546$807,378$707,894$946,511
69$1,299,402$794,688$679,356$952,772
70$1,378,043$779,729$648,216$958,841
71$1,463,007$762,340$614,336$964,753
72$1,554,886$742,347$577,569$970,553
73$1,654,331$719,568$537,764$976,295
74$1,762,056$693,810$494,762$982,047
75$1,878,846$664,868$448,397$987,887
76$2,005,567$632,524$398,497$993,911
77$2,143,168$596,551$344,879$1,000,227
78$2,292,695$556,706$287,357$1,006,967
79$2,455,298$512,733$225,731$1,014,279
80$2,632,242$464,360$159,797$1,022,337
81$2,824,919$411,302$89,338$1,031,343
82$3,034,861$353,256$14,131$1,041,524
83$3,263,753$289,903$0$1,053,146
84$3,513,452$220,904$0$1,087,674
85$3,786,000$145,904$0$1,130,487
86$4,083,643$64,525$0$1,177,525
87$4,408,858$0$0$1,229,314
88$4,764,368$0$0$1,297,882
89$5,153,173$0$0$1,407,165
90$5,578,576$0$0$1,526,868
91$6,044,212$0$0$1,658,030
92$6,554,088$0$0$1,801,796
93$7,112,611$0$0$1,959,427
94$7,724,639$0$0$2,132,313
95$8,395,520$0$0$2,321,984
96$9,131,145$0$0$2,530,125
97$9,938,000$0$0$2,758,592
98$10,823,232$0$0$3,009,430
99$11,794,712$0$0$3,284,892
100$12,861,110$0$0$3,587,459