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%17.4%
1 years$67,219$66,621$66,036$65,466$64,910$62,958
2 years$33,277$32,657$32,057$31,474$30,909$28,959
3 years$21,964$21,342$20,743$20,166$19,610$17,723
4 years$16,309$15,688$15,095$14,528$13,986$12,177
5 years$12,917$12,300$11,715$11,159$10,632$8,905
6 years$10,656$10,044$9,467$8,924$8,413$6,770
7 years$9,042$8,435$7,867$7,337$6,842$5,282
8 years$7,832$7,230$6,672$6,155$5,676$4,199
9 years$6,891$6,295$5,747$5,243$4,780$3,385
10 years$6,139$5,549$5,010$4,519$4,073$2,757
11 years$5,524$4,940$4,411$3,933$3,503$2,264
12 years$5,012$4,434$3,914$3,450$3,035$1,871
13 years$4,579$4,007$3,497$3,046$2,647$1,554
14 years$4,208$3,642$3,142$2,704$2,320$1,297
15 years$3,887$3,327$2,837$2,411$2,043$1,085
16 years$3,606$3,053$2,572$2,159$1,806$911
17 years$3,359$2,811$2,341$1,940$1,601$767
18 years$3,139$2,598$2,137$1,748$1,423$646
19 years$2,943$2,408$1,956$1,580$1,269$546
20 years$2,767$2,237$1,795$1,431$1,133$461
21 years$2,607$2,084$1,651$1,298$1,014$391
22 years$2,462$1,945$1,522$1,180$909$331
23 years$2,330$1,819$1,405$1,075$816$281
24 years$2,210$1,705$1,300$981$733$238
25 years$2,099$1,600$1,204$895$660$202
26 years$1,996$1,503$1,116$819$595$172
27 years$1,902$1,415$1,037$749$536$146
28 years$1,814$1,333$964$687$484$124
29 years$1,733$1,258$897$630$437$106
30 years$1,657$1,188$835$578$395$90
31 years$1,586$1,123$779$531$357$76
32 years$1,520$1,063$727$488$323$65
33 years$1,458$1,006$678$449$292$55
34 years$1,399$954$634$413$264$47
35 years$1,345$905$593$380$239$40
36 years$1,293$859$554$350$217$34
37 years$1,244$815$519$322$197$29
38 years$1,198$775$486$297$178$25
39 years$1,154$737$455$274$162$21
40 years$1,113$701$427$253$147$18
41 years$1,074$667$400$233$133$15
42 years$1,036$636$375$215$121$13
43 years$1,001$606$352$199$110$11
44 years$967$577$331$183$99$9
45 years$935$550$310$169$90$8
46 years$904$525$292$156$82$7
47 years$875$501$274$145$74$6
48 years$847$478$257$134$68$5
49 years$820$457$242$123$61$4
50 years$795$436$227$114$56$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $814,000, adding $3,613 every year, while hoping to spend $29,197 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: 69/9/22 Blend
61$814,000$814,000$814,000$814,000
62$900,755$857,613$844,996$957,704
63$961,566$868,570$842,238$1,007,210
64$1,027,602$879,086$838,409$1,057,624
65$1,099,364$889,108$833,442$1,112,091
66$1,177,405$898,580$827,268$1,171,007
67$1,262,332$907,442$819,813$1,234,814
68$1,354,813$915,631$811,000$1,303,995
69$1,455,585$923,077$800,750$1,379,087
70$1,565,457$929,711$788,977$1,460,677
71$1,685,321$935,453$775,595$1,549,418
72$1,816,156$940,222$760,509$1,646,026
73$1,959,042$943,932$743,625$1,751,292
74$2,115,169$946,489$724,841$1,866,087
75$2,285,844$947,795$704,051$1,991,375
76$2,472,508$947,745$681,145$2,128,214
77$2,676,748$946,228$656,007$2,277,775
78$2,900,309$943,126$628,516$2,441,348
79$3,145,115$938,314$598,546$2,620,353
80$3,413,285$931,659$565,965$2,816,359
81$3,707,149$923,020$530,635$3,031,095
82$4,029,278$912,248$492,410$3,266,468
83$4,382,500$899,183$451,142$3,524,579
84$4,769,931$883,659$406,671$3,807,746
85$5,195,003$865,497$358,833$4,118,525
86$5,661,496$844,510$307,457$4,459,734
87$6,173,574$820,497$252,363$4,834,478
88$6,735,825$793,247$193,363$5,246,184
89$7,353,300$762,537$130,262$5,698,628
90$8,031,567$728,131$62,855$6,195,974
91$8,776,755$689,778$0$6,742,811
92$9,595,621$647,214$0$7,346,333
93$10,495,606$600,159$0$8,025,872
94$11,484,907$548,317$0$8,772,862
95$12,572,559$491,375$0$9,594,143
96$13,768,510$429,003$0$10,497,249
97$15,083,726$360,852$0$11,490,483
98$16,530,285$286,553$0$12,582,995
99$18,121,495$205,715$0$13,784,867
100$19,872,020$117,927$0$15,107,209