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%12.3%
1 years$66,311$65,720$65,144$64,582$64,032$63,416
2 years$32,827$32,216$31,623$31,049$30,492$29,871
3 years$21,667$21,053$20,462$19,893$19,345$18,739
4 years$16,089$15,476$14,891$14,332$13,797$13,211
5 years$12,742$12,134$11,556$11,008$10,488$9,923
6 years$10,512$9,908$9,339$8,803$8,299$7,756
7 years$8,920$8,321$7,761$7,238$6,749$6,228
8 years$7,726$7,132$6,582$6,072$5,599$5,100
9 years$6,798$6,210$5,669$5,172$4,715$4,238
10 years$6,056$5,474$4,942$4,458$4,018$3,562
11 years$5,449$4,873$4,351$3,880$3,455$3,021
12 years$4,944$4,374$3,862$3,403$2,994$2,580
13 years$4,517$3,953$3,450$3,004$2,611$2,217
14 years$4,151$3,593$3,100$2,667$2,289$1,915
15 years$3,834$3,282$2,799$2,379$2,015$1,660
16 years$3,558$3,011$2,538$2,130$1,781$1,445
17 years$3,314$2,773$2,309$1,914$1,579$1,261
18 years$3,097$2,563$2,108$1,724$1,404$1,103
19 years$2,903$2,375$1,930$1,558$1,252$968
20 years$2,729$2,207$1,771$1,411$1,118$850
21 years$2,572$2,056$1,629$1,281$1,000$748
22 years$2,429$1,919$1,501$1,165$897$659
23 years$2,299$1,795$1,386$1,061$805$582
24 years$2,180$1,682$1,282$967$724$514
25 years$2,070$1,578$1,187$883$651$454
26 years$1,969$1,483$1,101$808$586$402
27 years$1,876$1,396$1,023$739$529$356
28 years$1,790$1,315$951$677$477$315
29 years$1,709$1,241$885$621$431$280
30 years$1,635$1,172$824$570$389$248
31 years$1,565$1,108$768$524$352$220
32 years$1,499$1,048$717$481$318$195
33 years$1,438$993$669$442$288$173
34 years$1,381$941$625$407$261$154
35 years$1,326$892$585$375$236$137
36 years$1,275$847$547$345$214$122
37 years$1,227$804$512$318$194$108
38 years$1,182$764$479$293$176$96
39 years$1,139$727$449$270$160$86
40 years$1,098$692$421$249$145$76
41 years$1,059$658$395$230$131$68
42 years$1,022$627$370$212$119$60
43 years$987$597$347$196$108$54
44 years$954$569$326$181$98$48
45 years$922$543$306$167$89$42
46 years$892$518$288$154$81$38
47 years$863$494$270$143$73$34
48 years$836$472$254$132$67$30
49 years$809$451$239$122$61$27
50 years$784$430$224$113$55$24

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $803,000, adding $5,369 every year, while hoping to spend $43,021 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: 41/39/20 Blend
61$803,000$803,000$803,000$803,000
62$890,444$847,885$835,439$921,509
63$935,495$843,657$817,652$939,929
64$983,700$837,781$797,827$955,304
65$1,035,334$830,129$775,851$971,061
66$1,090,701$820,568$751,605$987,257
67$1,150,133$808,956$724,964$1,003,959
68$1,213,994$795,143$695,798$1,021,244
69$1,282,686$778,969$663,971$1,039,199
70$1,356,647$760,265$629,342$1,057,924
71$1,436,361$738,854$591,761$1,077,534
72$1,522,357$714,546$551,072$1,098,159
73$1,615,220$687,141$507,115$1,119,947
74$1,715,588$656,426$459,719$1,143,066
75$1,824,165$622,179$408,707$1,167,705
76$1,941,726$584,161$353,894$1,194,079
77$2,069,119$542,122$295,088$1,222,431
78$2,207,281$495,798$232,085$1,253,031
79$2,357,239$444,908$164,675$1,286,187
80$2,520,125$389,156$92,639$1,322,244
81$2,697,183$328,229$15,747$1,361,588
82$2,889,780$261,797$0$1,404,653
83$3,099,423$189,511$0$1,466,075
84$3,327,769$111,001$0$1,536,754
85$3,576,640$25,879$0$1,613,990
86$3,848,043$0$0$1,698,521
87$4,144,187$0$0$1,819,606
88$4,467,503$0$0$1,964,023
89$4,820,666$0$0$2,121,872
90$5,206,622$0$0$2,294,485
91$5,628,614$0$0$2,483,323
92$6,090,213$0$0$2,689,999
93$6,595,352$0$0$2,916,288
94$7,148,358$0$0$3,164,143
95$7,754,000$0$0$3,435,717
96$8,417,527$0$0$3,733,380
97$9,144,722$0$0$4,059,741
98$9,941,951$0$0$4,417,676
99$10,816,229$0$0$4,810,352
100$11,775,279$0$0$5,241,256