Can I retire at age 62 with 814,000?

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 $814,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.3%
1 years$67,219$66,621$66,036$65,466$64,910$63,495
2 years$33,277$32,657$32,057$31,474$30,909$29,491
3 years$21,964$21,342$20,743$20,166$19,610$18,233
4 years$16,309$15,688$15,095$14,528$13,986$12,660
5 years$12,917$12,300$11,715$11,159$10,632$9,362
6 years$10,656$10,044$9,467$8,924$8,413$7,199
7 years$9,042$8,435$7,867$7,337$6,842$5,685
8 years$7,832$7,230$6,672$6,155$5,676$4,575
9 years$6,891$6,295$5,747$5,243$4,780$3,735
10 years$6,139$5,549$5,010$4,519$4,073$3,082
11 years$5,524$4,940$4,411$3,933$3,503$2,565
12 years$5,012$4,434$3,914$3,450$3,035$2,149
13 years$4,579$4,007$3,497$3,046$2,647$1,811
14 years$4,208$3,642$3,142$2,704$2,320$1,533
15 years$3,887$3,327$2,837$2,411$2,043$1,302
16 years$3,606$3,053$2,572$2,159$1,806$1,110
17 years$3,359$2,811$2,341$1,940$1,601$948
18 years$3,139$2,598$2,137$1,748$1,423$812
19 years$2,943$2,408$1,956$1,580$1,269$696
20 years$2,767$2,237$1,795$1,431$1,133$598
21 years$2,607$2,084$1,651$1,298$1,014$515
22 years$2,462$1,945$1,522$1,180$909$443
23 years$2,330$1,819$1,405$1,075$816$382
24 years$2,210$1,705$1,300$981$733$330
25 years$2,099$1,600$1,204$895$660$285
26 years$1,996$1,503$1,116$819$595$246
27 years$1,902$1,415$1,037$749$536$213
28 years$1,814$1,333$964$687$484$184
29 years$1,733$1,258$897$630$437$159
30 years$1,657$1,188$835$578$395$138
31 years$1,586$1,123$779$531$357$119
32 years$1,520$1,063$727$488$323$103
33 years$1,458$1,006$678$449$292$89
34 years$1,399$954$634$413$264$77
35 years$1,345$905$593$380$239$67
36 years$1,293$859$554$350$217$58
37 years$1,244$815$519$322$197$50
38 years$1,198$775$486$297$178$44
39 years$1,154$737$455$274$162$38
40 years$1,113$701$427$253$147$33
41 years$1,074$667$400$233$133$28
42 years$1,036$636$375$215$121$25
43 years$1,001$606$352$199$110$21
44 years$967$577$331$183$99$19
45 years$935$550$310$169$90$16
46 years$904$525$292$156$82$14
47 years$875$501$274$145$74$12
48 years$847$478$257$134$68$10
49 years$820$457$242$123$61$9
50 years$795$436$227$114$56$8

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $814,000, adding $2,807 every year, while hoping to spend $45,172 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: 45/38/17 Blend
61$814,000$814,000$814,000$814,000
62$899,923$856,781$844,164$935,914
63$943,653$850,701$824,381$955,278
64$990,329$842,809$802,421$971,527
65$1,040,204$832,968$778,164$988,185
66$1,093,556$821,034$751,484$1,005,311
67$1,150,688$806,854$722,248$1,022,970
68$1,211,933$790,266$690,318$1,041,240
69$1,277,658$771,096$655,551$1,060,207
70$1,348,263$749,163$617,796$1,079,972
71$1,424,188$724,275$576,895$1,100,648
72$1,505,918$696,227$532,683$1,122,366
73$1,593,982$664,803$484,989$1,145,272
74$1,688,965$629,775$433,633$1,169,532
75$1,791,506$590,901$378,426$1,195,337
76$1,902,310$547,925$319,174$1,222,898
77$2,022,151$500,578$255,671$1,252,455
78$2,151,878$448,574$187,703$1,284,279
79$2,292,426$391,611$115,048$1,318,674
80$2,444,823$329,370$37,472$1,355,982
81$2,610,200$261,514$0$1,396,587
82$2,789,799$187,687$0$1,449,138
83$2,984,989$107,513$0$1,513,686
84$3,197,272$20,596$0$1,584,014
85$3,428,305$0$0$1,660,774
86$3,679,908$0$0$1,775,422
87$3,954,084$0$0$1,909,828
88$4,253,040$0$0$2,056,474
89$4,579,201$0$0$2,216,560
90$4,935,240$0$0$2,391,411
91$5,324,098$0$0$2,582,482
92$5,749,011$0$0$2,791,377
93$6,213,543$0$0$3,019,863
94$6,721,619$0$0$3,269,883
95$7,277,559$0$0$3,543,577
96$7,886,120$0$0$3,843,304
97$8,552,542$0$0$4,171,659
98$9,282,593$0$0$4,531,500
99$10,082,626$0$0$4,925,977
100$10,959,639$0$0$5,358,556