Can I retire at age 62 with 803,000?

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 $803,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$66,311$65,720$65,144$64,582$64,032$62,714
2 years$32,827$32,216$31,623$31,049$30,492$29,169
3 years$21,667$21,053$20,462$19,893$19,345$18,060
4 years$16,089$15,476$14,891$14,332$13,797$12,559
5 years$12,742$12,134$11,556$11,008$10,488$9,301
6 years$10,512$9,908$9,339$8,803$8,299$7,164
7 years$8,920$8,321$7,761$7,238$6,749$5,667
8 years$7,726$7,132$6,582$6,072$5,599$4,569
9 years$6,798$6,210$5,669$5,172$4,715$3,736
10 years$6,056$5,474$4,942$4,458$4,018$3,089
11 years$5,449$4,873$4,351$3,880$3,455$2,576
12 years$4,944$4,374$3,862$3,403$2,994$2,162
13 years$4,517$3,953$3,450$3,004$2,611$1,826
14 years$4,151$3,593$3,100$2,667$2,289$1,548
15 years$3,834$3,282$2,799$2,379$2,015$1,318
16 years$3,558$3,011$2,538$2,130$1,781$1,126
17 years$3,314$2,773$2,309$1,914$1,579$964
18 years$3,097$2,563$2,108$1,724$1,404$827
19 years$2,903$2,375$1,930$1,558$1,252$711
20 years$2,729$2,207$1,771$1,411$1,118$612
21 years$2,572$2,056$1,629$1,281$1,000$528
22 years$2,429$1,919$1,501$1,165$897$456
23 years$2,299$1,795$1,386$1,061$805$394
24 years$2,180$1,682$1,282$967$724$341
25 years$2,070$1,578$1,187$883$651$295
26 years$1,969$1,483$1,101$808$586$255
27 years$1,876$1,396$1,023$739$529$221
28 years$1,790$1,315$951$677$477$192
29 years$1,709$1,241$885$621$431$166
30 years$1,635$1,172$824$570$389$144
31 years$1,565$1,108$768$524$352$125
32 years$1,499$1,048$717$481$318$109
33 years$1,438$993$669$442$288$94
34 years$1,381$941$625$407$261$82
35 years$1,326$892$585$375$236$71
36 years$1,275$847$547$345$214$62
37 years$1,227$804$512$318$194$54
38 years$1,182$764$479$293$176$47
39 years$1,139$727$449$270$160$41
40 years$1,098$692$421$249$145$35
41 years$1,059$658$395$230$131$31
42 years$1,022$627$370$212$119$27
43 years$987$597$347$196$108$23
44 years$954$569$326$181$98$20
45 years$922$543$306$167$89$17
46 years$892$518$288$154$81$15
47 years$863$494$270$143$73$13
48 years$836$472$254$132$67$11
49 years$809$451$239$122$61$10
50 years$784$430$224$113$55$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $803,000, adding $3,128 every year, while hoping to spend $29,405 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: 76/8/16 Blend
61$803,000$803,000$803,000$803,000
62$888,133$845,574$833,127$952,275
63$947,435$855,720$829,750$1,005,231
64$1,011,802$865,378$825,275$1,059,295
65$1,081,717$874,493$819,632$1,117,771
66$1,157,714$883,005$812,753$1,181,088
67$1,240,382$890,854$804,561$1,249,722
68$1,330,366$897,971$794,979$1,324,195
69$1,428,378$904,286$783,925$1,405,084
70$1,535,200$909,723$771,314$1,493,023
71$1,651,693$914,202$757,056$1,588,713
72$1,778,806$917,638$741,057$1,692,925
73$1,917,581$919,939$723,219$1,806,508
74$2,069,167$921,009$703,440$1,930,401
75$2,234,829$920,746$681,612$2,065,635
76$2,415,959$919,039$657,623$2,213,348
77$2,614,088$915,774$631,356$2,374,796
78$2,830,906$910,828$602,687$2,551,362
79$3,068,270$904,070$571,488$2,744,569
80$3,328,226$895,362$537,626$2,956,097
81$3,613,028$884,557$500,959$3,187,800
82$3,925,157$871,501$461,342$3,441,717
83$4,267,347$856,029$418,620$3,720,099
84$4,642,608$837,965$372,636$4,025,427
85$5,054,255$817,127$323,220$4,360,433
86$5,505,940$793,317$270,199$4,728,132
87$6,001,686$766,330$213,391$5,131,846
88$6,545,924$735,946$152,605$5,575,234
89$7,143,533$701,933$87,643$6,062,333
90$7,799,892$664,045$18,297$6,597,592
91$8,520,922$622,025$0$7,185,913
92$9,313,149$575,597$0$7,842,211
93$10,183,760$524,471$0$8,566,885
94$11,140,675$468,342$0$9,363,413
95$12,192,618$406,884$0$10,239,076
96$13,349,200$339,756$0$11,201,894
97$14,621,010$266,597$0$12,260,706
98$16,019,717$187,023$0$13,425,251
99$17,558,173$100,633$0$14,706,260
100$19,250,542$6,999$0$16,115,558