Can I retire at age 62 with 806,000?

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 $806,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.2%
1 years$66,559$65,966$65,387$64,823$64,272$63,947
2 years$32,950$32,336$31,741$31,165$30,606$30,278
3 years$21,748$21,132$20,539$19,968$19,417$19,097
4 years$16,149$15,534$14,947$14,386$13,849$13,538
5 years$12,790$12,179$11,599$11,049$10,528$10,227
6 years$10,551$9,945$9,374$8,836$8,330$8,041
7 years$8,953$8,352$7,790$7,265$6,775$6,496
8 years$7,755$7,159$6,606$6,094$5,620$5,353
9 years$6,823$6,233$5,690$5,191$4,733$4,477
10 years$6,079$5,494$4,961$4,475$4,033$3,787
11 years$5,470$4,891$4,367$3,894$3,468$3,234
12 years$4,963$4,390$3,876$3,416$3,006$2,782
13 years$4,534$3,967$3,463$3,016$2,621$2,407
14 years$4,167$3,606$3,111$2,677$2,297$2,094
15 years$3,849$3,294$2,809$2,387$2,023$1,829
16 years$3,571$3,023$2,547$2,138$1,788$1,604
17 years$3,326$2,784$2,318$1,921$1,585$1,410
18 years$3,108$2,572$2,116$1,731$1,409$1,244
19 years$2,914$2,384$1,937$1,564$1,256$1,099
20 years$2,739$2,215$1,778$1,417$1,122$973
21 years$2,581$2,063$1,635$1,286$1,004$864
22 years$2,438$1,926$1,507$1,169$900$767
23 years$2,307$1,801$1,391$1,065$808$683
24 years$2,188$1,688$1,287$971$726$608
25 years$2,078$1,584$1,192$887$654$542
26 years$1,977$1,489$1,105$811$589$484
27 years$1,883$1,401$1,026$742$531$432
28 years$1,796$1,320$954$680$479$386
29 years$1,716$1,245$888$624$432$346
30 years$1,641$1,176$827$572$391$309
31 years$1,571$1,112$771$526$353$277
32 years$1,505$1,052$719$483$320$248
33 years$1,443$996$672$444$289$222
34 years$1,386$944$628$409$262$199
35 years$1,331$896$587$376$237$179
36 years$1,280$850$549$346$215$160
37 years$1,232$807$514$319$195$144
38 years$1,186$767$481$294$177$129
39 years$1,143$730$451$271$160$116
40 years$1,102$694$423$250$145$104
41 years$1,063$661$396$231$132$93
42 years$1,026$629$372$213$120$84
43 years$991$600$349$197$108$75
44 years$958$572$327$182$98$68
45 years$926$545$307$168$89$61
46 years$895$520$289$155$81$55
47 years$866$496$271$143$74$49
48 years$839$474$255$132$67$44
49 years$812$452$240$122$61$40
50 years$787$432$225$113$55$36

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $806,000, adding $4,759 every year, while hoping to spend $52,568 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: 46/29/25 Blend
61$806,000$806,000$806,000$806,000
62$893,121$850,403$837,910$927,596
63$928,287$836,141$810,048$938,113
64$965,279$819,418$779,491$944,005
65$1,004,226$800,058$746,093$949,356
66$1,045,271$777,875$709,701$954,142
67$1,088,570$752,672$670,156$958,341
68$1,134,290$724,239$627,293$961,931
69$1,182,616$692,355$580,936$964,895
70$1,233,749$656,787$530,903$967,216
71$1,287,909$617,287$477,006$968,880
72$1,345,335$573,593$419,045$969,880
73$1,406,290$525,430$356,813$970,210
74$1,471,059$472,503$290,095$969,871
75$1,539,957$414,506$218,662$968,869
76$1,613,326$351,110$142,281$967,218
77$1,691,541$281,971$60,704$964,940
78$1,775,015$206,724$0$962,067
79$1,864,198$124,985$0$965,670
80$1,959,584$36,346$0$986,511
81$2,061,714$0$0$1,008,525
82$2,171,182$0$0$1,050,900
83$2,288,640$0$0$1,108,876
84$2,414,802$0$0$1,171,215
85$2,550,454$0$0$1,238,313
86$2,696,457$0$0$1,310,606
87$2,853,756$0$0$1,388,571
88$3,023,391$0$0$1,472,734
89$3,206,503$0$0$1,563,670
90$3,404,346$0$0$1,662,016
91$3,618,299$0$0$1,768,466
92$3,849,877$0$0$1,883,787
93$4,100,745$0$0$2,008,821
94$4,372,734$0$0$2,144,495
95$4,667,857$0$0$2,291,827
96$4,988,330$0$0$2,451,937
97$5,336,589$0$0$2,626,059
98$5,715,312$0$0$2,815,548
99$6,127,448$0$0$3,021,896
100$6,576,242$0$0$3,246,745