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%13.2%
1 years$66,146$65,557$64,982$64,421$63,873$63,022
2 years$32,745$32,136$31,545$30,972$30,416$29,560
3 years$21,613$21,001$20,411$19,844$19,297$18,463
4 years$16,049$15,438$14,854$14,296$13,763$12,957
5 years$12,710$12,104$11,528$10,981$10,462$9,687
6 years$10,486$9,883$9,316$8,782$8,278$7,534
7 years$8,897$8,300$7,742$7,220$6,733$6,020
8 years$7,707$7,115$6,565$6,056$5,585$4,904
9 years$6,781$6,195$5,655$5,159$4,704$4,054
10 years$6,041$5,460$4,930$4,447$4,008$3,388
11 years$5,436$4,861$4,340$3,870$3,447$2,858
12 years$4,932$4,363$3,852$3,395$2,987$2,427
13 years$4,506$3,943$3,441$2,997$2,605$2,074
14 years$4,141$3,584$3,092$2,660$2,283$1,780
15 years$3,825$3,274$2,792$2,373$2,010$1,534
16 years$3,549$3,004$2,531$2,124$1,777$1,327
17 years$3,305$2,766$2,303$1,909$1,575$1,151
18 years$3,089$2,556$2,103$1,720$1,401$1,000
19 years$2,896$2,369$1,925$1,554$1,249$871
20 years$2,722$2,202$1,767$1,408$1,115$761
21 years$2,565$2,051$1,625$1,278$998$665
22 years$2,423$1,914$1,498$1,162$895$582
23 years$2,293$1,790$1,383$1,058$803$510
24 years$2,174$1,677$1,279$965$722$447
25 years$2,065$1,574$1,184$881$649$393
26 years$1,964$1,479$1,098$806$585$345
27 years$1,871$1,392$1,020$737$527$303
28 years$1,785$1,312$948$676$476$267
29 years$1,705$1,238$882$620$430$235
30 years$1,630$1,169$822$569$388$207
31 years$1,561$1,105$766$522$351$182
32 years$1,496$1,046$715$480$318$160
33 years$1,434$990$668$441$287$141
34 years$1,377$938$624$406$260$125
35 years$1,323$890$583$374$236$110
36 years$1,272$845$546$344$214$97
37 years$1,224$802$511$317$194$86
38 years$1,179$763$478$292$175$75
39 years$1,136$725$448$270$159$67
40 years$1,095$690$420$249$144$59
41 years$1,056$657$394$229$131$52
42 years$1,020$625$369$212$119$46
43 years$985$596$347$195$108$40
44 years$952$568$325$180$98$36
45 years$920$542$305$167$89$32
46 years$890$517$287$154$81$28
47 years$861$493$270$142$73$25
48 years$834$471$253$131$67$22
49 years$807$450$238$121$60$19
50 years$782$429$224$112$55$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $801,000, adding $6,874 every year, while hoping to spend $48,856 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: 62/17/21 Blend
61$801,000$801,000$801,000$801,000
62$889,793$847,340$834,924$939,698
63$928,569$836,877$810,912$963,758
64$969,663$824,264$784,457$983,973
65$1,013,260$809,344$755,428$1,004,932
66$1,059,561$791,951$723,683$1,026,712
67$1,108,788$771,908$689,079$1,049,403
68$1,161,183$749,030$651,461$1,073,102
69$1,217,009$723,118$610,671$1,097,922
70$1,276,558$693,964$566,542$1,123,986
71$1,340,146$661,348$518,900$1,151,436
72$1,408,122$625,034$467,564$1,180,427
73$1,480,866$584,777$412,343$1,211,135
74$1,558,797$540,314$353,040$1,243,756
75$1,642,374$491,369$289,446$1,278,510
76$1,732,101$437,651$221,347$1,315,642
77$1,828,529$378,849$148,516$1,355,425
78$1,932,264$314,639$70,717$1,398,164
79$2,043,974$244,674$0$1,444,200
80$2,164,388$168,592$0$1,496,670
81$2,294,310$86,008$0$1,570,327
82$2,434,623$0$0$1,649,839
83$2,586,296$0$0$1,736,443
84$2,750,395$0$0$1,847,598
85$2,928,091$0$0$1,968,012
86$3,120,672$0$0$2,098,565
87$3,329,556$0$0$2,240,224
88$3,556,298$0$0$2,394,052
89$3,802,613$0$0$2,561,217
90$4,070,384$0$0$2,743,008
91$4,361,685$0$0$2,940,838
92$4,678,796$0$0$3,156,265
93$5,024,228$0$0$3,391,003
94$5,400,742$0$0$3,646,937
95$5,811,378$0$0$3,926,143
96$6,259,481$0$0$4,230,906
97$6,748,734$0$0$4,563,740
98$7,283,190$0$0$4,927,413
99$7,867,313$0$0$5,324,973
100$8,506,015$0$0$5,759,776