Can I retire at age 62 with 817,000?

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 $817,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$67,467$66,866$66,280$65,708$65,149$64,308
2 years$33,400$32,778$32,175$31,590$31,023$30,177
3 years$22,045$21,420$20,819$20,240$19,682$18,858
4 years$16,369$15,746$15,151$14,582$14,038$13,241
5 years$12,964$12,345$11,758$11,200$10,671$9,904
6 years$10,695$10,081$9,502$8,957$8,444$7,707
7 years$9,075$8,466$7,896$7,364$6,867$6,162
8 years$7,861$7,257$6,697$6,177$5,697$5,022
9 years$6,916$6,318$5,768$5,262$4,798$4,154
10 years$6,162$5,569$5,029$4,536$4,088$3,474
11 years$5,544$4,958$4,427$3,947$3,516$2,932
12 years$5,030$4,450$3,929$3,462$3,047$2,492
13 years$4,596$4,022$3,510$3,057$2,657$2,130
14 years$4,224$3,656$3,154$2,714$2,329$1,830
15 years$3,901$3,339$2,848$2,420$2,050$1,578
16 years$3,620$3,064$2,582$2,167$1,812$1,366
17 years$3,371$2,822$2,349$1,947$1,607$1,185
18 years$3,151$2,607$2,145$1,755$1,429$1,031
19 years$2,954$2,416$1,963$1,585$1,273$899
20 years$2,777$2,245$1,802$1,436$1,137$785
21 years$2,617$2,092$1,657$1,303$1,018$687
22 years$2,471$1,952$1,527$1,185$912$602
23 years$2,339$1,826$1,410$1,079$819$528
24 years$2,218$1,711$1,304$984$736$463
25 years$2,106$1,606$1,208$899$662$407
26 years$2,004$1,509$1,120$822$597$358
27 years$1,909$1,420$1,040$752$538$315
28 years$1,821$1,338$967$689$485$277
29 years$1,739$1,262$900$632$438$244
30 years$1,663$1,192$838$580$396$215
31 years$1,592$1,127$782$533$358$190
32 years$1,525$1,066$729$490$324$167
33 years$1,463$1,010$681$450$293$148
34 years$1,405$957$636$414$265$130
35 years$1,349$908$595$381$240$115
36 years$1,298$862$556$351$218$101
37 years$1,249$818$521$324$197$90
38 years$1,202$778$488$298$179$79
39 years$1,158$740$457$275$162$70
40 years$1,117$704$428$254$147$62
41 years$1,078$670$402$234$134$54
42 years$1,040$638$377$216$121$48
43 years$1,005$608$353$199$110$43
44 years$971$579$332$184$100$38
45 years$938$552$312$170$91$33
46 years$908$527$293$157$82$29
47 years$878$503$275$145$75$26
48 years$850$480$258$134$68$23
49 years$823$459$243$124$62$20
50 years$798$438$228$115$56$18

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $817,000, adding $3,610 every year, while hoping to spend $24,318 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: 53/18/29 Blend
61$817,000$817,000$817,000$817,000
62$904,058$860,757$848,093$944,468
63$970,397$877,060$850,630$989,202
64$1,042,689$893,346$852,437$1,035,100
65$1,121,513$909,590$853,464$1,084,574
66$1,207,510$925,763$853,658$1,137,977
67$1,301,385$941,834$852,964$1,195,696
68$1,403,912$957,770$851,324$1,258,163
69$1,515,945$973,534$848,677$1,325,849
70$1,638,423$989,090$844,960$1,399,278
71$1,772,382$1,004,395$840,106$1,479,027
72$1,918,960$1,019,405$834,044$1,565,730
73$2,079,412$1,034,073$826,702$1,660,091
74$2,255,118$1,048,349$818,003$1,762,883
75$2,447,599$1,062,178$807,866$1,874,960
76$2,658,532$1,075,502$796,206$1,997,264
77$2,889,759$1,088,259$782,937$2,130,836
78$3,143,314$1,100,383$767,964$2,276,820
79$3,421,434$1,111,803$751,193$2,436,482
80$3,726,583$1,122,444$732,520$2,611,218
81$4,061,476$1,132,226$711,842$2,802,565
82$4,429,104$1,141,063$689,046$3,012,221
83$4,832,761$1,148,863$664,017$3,242,059
84$5,276,075$1,155,530$636,635$3,494,143
85$5,763,045$1,160,960$606,771$3,770,751
86$6,298,072$1,165,044$574,295$4,074,394
87$6,886,009$1,167,665$539,068$4,407,842
88$7,532,200$1,168,699$500,945$4,774,150
89$8,242,533$1,168,013$459,775$5,176,686
90$9,023,494$1,165,469$415,400$5,619,167
91$9,882,230$1,160,917$367,655$6,105,688
92$10,826,615$1,154,199$316,369$6,640,767
93$11,865,324$1,145,149$261,362$7,229,385
94$13,007,914$1,133,589$202,445$7,877,035
95$14,264,917$1,119,330$139,423$8,589,774
96$15,647,936$1,102,174$72,090$9,374,280
97$17,169,754$1,081,910$234$10,237,915
98$18,844,458$1,058,313$0$11,188,798
99$20,687,569$1,031,146$0$12,259,535
100$22,716,188$1,000,159$0$13,437,954