Can I retire at age 62 with 801,000?

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 $801,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.3%
1 years$66,146$65,557$64,982$64,421$63,873$62,737
2 years$32,745$32,136$31,545$30,972$30,416$29,275
3 years$21,613$21,001$20,411$19,844$19,297$18,188
4 years$16,049$15,438$14,854$14,296$13,763$12,693
5 years$12,710$12,104$11,528$10,981$10,462$9,435
6 years$10,486$9,883$9,316$8,782$8,278$7,295
7 years$8,897$8,300$7,742$7,220$6,733$5,793
8 years$7,707$7,115$6,565$6,056$5,585$4,689
9 years$6,781$6,195$5,655$5,159$4,704$3,851
10 years$6,041$5,460$4,930$4,447$4,008$3,197
11 years$5,436$4,861$4,340$3,870$3,447$2,678
12 years$4,932$4,363$3,852$3,395$2,987$2,259
13 years$4,506$3,943$3,441$2,997$2,605$1,916
14 years$4,141$3,584$3,092$2,660$2,283$1,632
15 years$3,825$3,274$2,792$2,373$2,010$1,396
16 years$3,549$3,004$2,531$2,124$1,777$1,198
17 years$3,305$2,766$2,303$1,909$1,575$1,031
18 years$3,089$2,556$2,103$1,720$1,401$889
19 years$2,896$2,369$1,925$1,554$1,249$769
20 years$2,722$2,202$1,767$1,408$1,115$665
21 years$2,565$2,051$1,625$1,278$998$577
22 years$2,423$1,914$1,498$1,162$895$501
23 years$2,293$1,790$1,383$1,058$803$435
24 years$2,174$1,677$1,279$965$722$378
25 years$2,065$1,574$1,184$881$649$329
26 years$1,964$1,479$1,098$806$585$287
27 years$1,871$1,392$1,020$737$527$250
28 years$1,785$1,312$948$676$476$218
29 years$1,705$1,238$882$620$430$190
30 years$1,630$1,169$822$569$388$166
31 years$1,561$1,105$766$522$351$145
32 years$1,496$1,046$715$480$318$126
33 years$1,434$990$668$441$287$110
34 years$1,377$938$624$406$260$96
35 years$1,323$890$583$374$236$84
36 years$1,272$845$546$344$214$74
37 years$1,224$802$511$317$194$64
38 years$1,179$763$478$292$175$56
39 years$1,136$725$448$270$159$49
40 years$1,095$690$420$249$144$43
41 years$1,056$657$394$229$131$38
42 years$1,020$625$369$212$119$33
43 years$985$596$347$195$108$29
44 years$952$568$325$180$98$25
45 years$920$542$305$167$89$22
46 years$890$517$287$154$81$19
47 years$861$493$270$142$73$17
48 years$834$471$253$131$67$15
49 years$807$450$238$121$60$13
50 years$782$429$224$112$55$11

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $801,000, adding $3,424 every year, while hoping to spend $33,019 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: 44/50/6 Blend
61$801,000$801,000$801,000$801,000
62$886,234$843,781$831,365$923,581
63$941,498$849,994$824,084$955,945
64$1,001,292$855,405$815,452$987,320
65$1,066,044$859,940$805,390$1,020,553
66$1,136,222$863,519$793,813$1,055,824
67$1,212,345$866,060$780,633$1,093,337
68$1,294,979$867,472$765,760$1,133,312
69$1,384,750$867,660$749,095$1,175,998
70$1,482,344$866,526$730,540$1,221,668
71$1,588,518$863,960$709,987$1,270,628
72$1,704,103$859,851$687,329$1,323,214
73$1,830,015$854,077$662,447$1,379,799
74$1,967,261$846,511$635,224$1,440,798
75$2,116,949$837,018$605,532$1,506,670
76$2,280,300$825,454$573,239$1,577,923
77$2,458,657$811,667$538,209$1,655,119
78$2,653,497$795,496$500,296$1,738,883
79$2,866,450$776,771$459,352$1,829,904
80$3,099,305$755,311$415,218$1,928,949
81$3,354,037$730,924$367,730$2,036,861
82$3,632,818$703,408$316,718$2,154,579
83$3,938,039$672,549$262,002$2,283,138
84$4,272,335$638,119$203,395$2,423,687
85$4,638,607$599,881$140,702$2,577,492
86$5,040,049$557,579$73,720$2,745,959
87$5,480,179$510,946$2,235$2,930,639
88$5,962,874$459,698$0$3,133,249
89$6,492,400$403,537$0$3,360,428
90$7,073,459$342,144$0$3,609,995
91$7,711,230$275,187$0$3,884,142
92$8,411,416$202,312$0$4,185,450
93$9,180,300$123,145$0$4,516,769
94$10,024,805$37,294$0$4,881,250
95$10,952,555$0$0$5,282,371
96$11,971,950$0$0$5,754,598
97$13,092,243$0$0$6,296,219
98$14,323,630$0$0$6,891,658
99$15,677,341$0$0$7,546,358
100$17,165,752$0$0$8,266,317