Can I retire at age 62 with 816,000?

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 $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%13.2%
1 years$67,385$66,784$66,199$65,627$65,069$64,203
2 years$33,359$32,737$32,135$31,551$30,985$30,114
3 years$22,018$21,394$20,794$20,215$19,658$18,809
4 years$16,349$15,727$15,132$14,564$14,020$13,200
5 years$12,949$12,330$11,743$11,187$10,658$9,868
6 years$10,682$10,069$9,490$8,946$8,433$7,675
7 years$9,064$8,456$7,887$7,355$6,859$6,133
8 years$7,851$7,248$6,688$6,170$5,690$4,996
9 years$6,908$6,311$5,761$5,255$4,792$4,130
10 years$6,154$5,563$5,022$4,530$4,083$3,452
11 years$5,538$4,952$4,422$3,943$3,511$2,911
12 years$5,024$4,445$3,924$3,458$3,043$2,473
13 years$4,590$4,017$3,506$3,053$2,653$2,112
14 years$4,218$3,651$3,150$2,710$2,326$1,813
15 years$3,897$3,335$2,844$2,417$2,048$1,563
16 years$3,615$3,060$2,579$2,164$1,810$1,352
17 years$3,367$2,818$2,346$1,944$1,605$1,172
18 years$3,147$2,604$2,142$1,752$1,427$1,019
19 years$2,950$2,413$1,961$1,583$1,272$888
20 years$2,773$2,243$1,800$1,434$1,136$775
21 years$2,613$2,089$1,655$1,302$1,017$677
22 years$2,468$1,950$1,526$1,183$911$593
23 years$2,336$1,824$1,409$1,078$818$519
24 years$2,215$1,709$1,303$983$735$456
25 years$2,104$1,604$1,207$898$662$400
26 years$2,001$1,507$1,119$821$596$351
27 years$1,907$1,418$1,039$751$537$309
28 years$1,819$1,337$966$688$485$272
29 years$1,737$1,261$899$631$438$239
30 years$1,661$1,191$837$579$396$211
31 years$1,590$1,126$781$532$358$185
32 years$1,524$1,065$728$489$324$163
33 years$1,461$1,009$680$450$293$144
34 years$1,403$956$635$414$265$127
35 years$1,348$907$594$381$240$112
36 years$1,296$861$556$351$218$99
37 years$1,247$817$520$323$197$87
38 years$1,201$777$487$298$179$77
39 years$1,157$739$456$275$162$68
40 years$1,116$703$428$253$147$60
41 years$1,076$669$401$234$133$53
42 years$1,039$637$376$216$121$47
43 years$1,003$607$353$199$110$41
44 years$970$579$331$184$100$36
45 years$937$552$311$170$91$32
46 years$907$526$292$157$82$28
47 years$877$502$275$145$75$25
48 years$849$480$258$134$68$22
49 years$822$458$243$124$62$20
50 years$797$437$228$114$56$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $816,000, adding $5,240 every year, while hoping to spend $24,745 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: 32/43/25 Blend
61$816,000$816,000$816,000$816,000
62$904,637$861,389$848,741$926,516
63$970,582$877,269$850,845$959,447
64$1,042,423$893,097$852,191$992,320
65$1,120,737$908,845$852,726$1,027,232
66$1,206,156$924,483$852,397$1,064,378
67$1,299,378$939,977$851,146$1,103,973
68$1,401,170$955,291$848,914$1,146,259
69$1,512,376$970,387$845,640$1,191,498
70$1,633,926$985,224$841,256$1,239,983
71$1,766,844$999,757$835,696$1,292,038
72$1,912,257$1,013,939$828,886$1,348,020
73$2,071,405$1,027,720$820,752$1,408,325
74$2,245,655$1,041,046$811,214$1,473,389
75$2,436,513$1,053,858$800,190$1,543,696
76$2,645,634$1,066,094$787,594$1,619,780
77$2,874,845$1,077,689$773,335$1,702,232
78$3,126,155$1,088,571$757,317$1,791,704
79$3,401,778$1,098,666$739,442$1,888,917
80$3,704,152$1,107,894$719,607$1,994,668
81$4,035,964$1,116,169$697,702$2,109,838
82$4,400,171$1,123,400$673,613$2,235,399
83$4,800,031$1,129,490$647,223$2,372,428
84$5,239,136$1,134,336$618,406$2,522,110
85$5,721,438$1,137,829$587,033$2,685,757
86$6,251,295$1,139,853$552,969$2,864,819
87$6,833,504$1,140,283$516,070$3,060,895
88$7,473,353$1,138,988$476,190$3,275,752
89$8,176,666$1,135,829$433,173$3,511,340
90$8,949,859$1,130,658$386,858$3,769,815
91$9,800,002$1,123,317$337,075$4,053,554
92$10,734,883$1,113,640$283,647$4,365,184
93$11,763,083$1,101,451$226,392$4,707,604
94$12,894,057$1,086,561$165,115$5,084,012
95$14,138,221$1,068,773$99,616$5,497,942
96$15,507,052$1,047,875$29,686$5,953,291
97$17,013,196$1,023,646$0$6,454,362
98$18,670,586$995,849$0$7,017,891
99$20,494,574$964,234$0$7,646,359
100$22,502,076$928,537$0$8,337,686