Can I retire at age 62 with 816,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $816,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.7%
1 years$67,385$66,784$66,199$65,627$65,069$64,336
2 years$33,359$32,737$32,135$31,551$30,985$30,247
3 years$22,018$21,394$20,794$20,215$19,658$18,938
4 years$16,349$15,727$15,132$14,564$14,020$13,324
5 years$12,949$12,330$11,743$11,187$10,658$9,987
6 years$10,682$10,069$9,490$8,946$8,433$7,789
7 years$9,064$8,456$7,887$7,355$6,859$6,241
8 years$7,851$7,248$6,688$6,170$5,690$5,099
9 years$6,908$6,311$5,761$5,255$4,792$4,227
10 years$6,154$5,563$5,022$4,530$4,083$3,544
11 years$5,538$4,952$4,422$3,943$3,511$2,998
12 years$5,024$4,445$3,924$3,458$3,043$2,555
13 years$4,590$4,017$3,506$3,053$2,653$2,190
14 years$4,218$3,651$3,150$2,710$2,326$1,886
15 years$3,897$3,335$2,844$2,417$2,048$1,631
16 years$3,615$3,060$2,579$2,164$1,810$1,415
17 years$3,367$2,818$2,346$1,944$1,605$1,232
18 years$3,147$2,604$2,142$1,752$1,427$1,075
19 years$2,950$2,413$1,961$1,583$1,272$940
20 years$2,773$2,243$1,800$1,434$1,136$823
21 years$2,613$2,089$1,655$1,302$1,017$722
22 years$2,468$1,950$1,526$1,183$911$634
23 years$2,336$1,824$1,409$1,078$818$558
24 years$2,215$1,709$1,303$983$735$491
25 years$2,104$1,604$1,207$898$662$433
26 years$2,001$1,507$1,119$821$596$382
27 years$1,907$1,418$1,039$751$537$337
28 years$1,819$1,337$966$688$485$298
29 years$1,737$1,261$899$631$438$263
30 years$1,661$1,191$837$579$396$233
31 years$1,590$1,126$781$532$358$206
32 years$1,524$1,065$728$489$324$182
33 years$1,461$1,009$680$450$293$161
34 years$1,403$956$635$414$265$143
35 years$1,348$907$594$381$240$126
36 years$1,296$861$556$351$218$112
37 years$1,247$817$520$323$197$99
38 years$1,201$777$487$298$179$88
39 years$1,157$739$456$275$162$78
40 years$1,116$703$428$253$147$69
41 years$1,076$669$401$234$133$61
42 years$1,039$637$376$216$121$54
43 years$1,003$607$353$199$110$48
44 years$970$579$331$184$100$43
45 years$937$552$311$170$91$38
46 years$907$526$292$157$82$34
47 years$877$502$275$145$75$30
48 years$849$480$258$134$68$26
49 years$822$458$243$124$62$23
50 years$797$437$228$114$56$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $816,000, adding $2,811 every year, while hoping to spend $43,220 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: 57/19/24 Blend
61$816,000$816,000$816,000$816,000
62$902,132$858,884$846,236$947,530
63$948,163$854,983$828,599$974,983
64$997,442$849,443$808,922$1,000,061
65$1,050,252$842,137$787,093$1,026,476
66$1,106,908$832,932$762,991$1,054,367
67$1,167,753$821,686$736,491$1,083,892
68$1,233,165$808,250$707,465$1,115,226
69$1,303,557$792,463$675,774$1,148,562
70$1,379,384$774,158$641,276$1,184,119
71$1,461,145$753,156$603,824$1,222,137
72$1,549,390$729,269$563,260$1,262,885
73$1,644,721$702,296$519,422$1,306,661
74$1,747,800$672,026$472,140$1,353,797
75$1,859,356$638,236$421,237$1,404,663
76$1,980,189$600,688$366,527$1,459,668
77$2,111,179$559,133$307,817$1,519,267
78$2,253,294$513,305$244,903$1,583,964
79$2,407,598$462,925$177,576$1,654,322
80$2,575,262$407,697$105,613$1,730,961
81$2,757,573$347,308$28,786$1,814,571
82$2,955,948$281,429$0$1,905,917
83$3,171,947$209,711$0$2,019,470
84$3,407,284$131,785$0$2,151,298
85$3,663,847$47,263$0$2,295,130
86$3,943,713$0$0$2,452,188
87$4,249,170$0$0$2,633,077
88$4,582,734$0$0$2,841,468
89$4,947,176$0$0$3,069,219
90$5,345,547$0$0$3,318,245
91$5,781,205$0$0$3,590,655
92$6,257,848$0$0$3,888,770
93$6,779,548$0$0$4,215,146
94$7,350,789$0$0$4,572,600
95$7,976,507$0$0$4,964,229
96$8,662,141$0$0$5,393,450
97$9,413,678$0$0$5,864,022
98$10,237,714$0$0$6,380,086
99$11,141,513$0$0$6,946,203
100$12,133,076$0$0$7,567,398