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%15.7%
1 years$67,467$66,866$66,280$65,708$65,149$63,625
2 years$33,400$32,778$32,175$31,590$31,023$29,497
3 years$22,045$21,420$20,819$20,240$19,682$18,201
4 years$16,369$15,746$15,151$14,582$14,038$12,613
5 years$12,964$12,345$11,758$11,200$10,671$9,307
6 years$10,695$10,081$9,502$8,957$8,444$7,141
7 years$9,075$8,466$7,896$7,364$6,867$5,626
8 years$7,861$7,257$6,697$6,177$5,697$4,518
9 years$6,916$6,318$5,768$5,262$4,798$3,679
10 years$6,162$5,569$5,029$4,536$4,088$3,028
11 years$5,544$4,958$4,427$3,947$3,516$2,514
12 years$5,030$4,450$3,929$3,462$3,047$2,101
13 years$4,596$4,022$3,510$3,057$2,657$1,766
14 years$4,224$3,656$3,154$2,714$2,329$1,490
15 years$3,901$3,339$2,848$2,420$2,050$1,262
16 years$3,620$3,064$2,582$2,167$1,812$1,073
17 years$3,371$2,822$2,349$1,947$1,607$914
18 years$3,151$2,607$2,145$1,755$1,429$780
19 years$2,954$2,416$1,963$1,585$1,273$667
20 years$2,777$2,245$1,802$1,436$1,137$572
21 years$2,617$2,092$1,657$1,303$1,018$490
22 years$2,471$1,952$1,527$1,185$912$421
23 years$2,339$1,826$1,410$1,079$819$362
24 years$2,218$1,711$1,304$984$736$311
25 years$2,106$1,606$1,208$899$662$268
26 years$2,004$1,509$1,120$822$597$231
27 years$1,909$1,420$1,040$752$538$199
28 years$1,821$1,338$967$689$485$171
29 years$1,739$1,262$900$632$438$148
30 years$1,663$1,192$838$580$396$127
31 years$1,592$1,127$782$533$358$110
32 years$1,525$1,066$729$490$324$95
33 years$1,463$1,010$681$450$293$82
34 years$1,405$957$636$414$265$71
35 years$1,349$908$595$381$240$61
36 years$1,298$862$556$351$218$53
37 years$1,249$818$521$324$197$46
38 years$1,202$778$488$298$179$39
39 years$1,158$740$457$275$162$34
40 years$1,117$704$428$254$147$29
41 years$1,078$670$402$234$134$25
42 years$1,040$638$377$216$121$22
43 years$1,005$608$353$199$110$19
44 years$971$579$332$184$100$16
45 years$938$552$312$170$91$14
46 years$908$527$293$157$82$12
47 years$878$503$275$145$75$11
48 years$850$480$258$134$68$9
49 years$823$459$243$124$62$8
50 years$798$438$228$115$56$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $817,000, adding $5,923 every year, while hoping to spend $28,245 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: 33/37/30 Blend
61$817,000$817,000$817,000$817,000
62$906,444$863,143$850,479$927,962
63$968,848$875,384$848,918$957,160
64$1,036,672$887,279$846,357$985,706
65$1,110,437$898,780$842,735$1,015,932
66$1,190,718$909,837$837,983$1,048,008
67$1,278,150$920,398$832,034$1,082,122
68$1,373,428$930,404$824,814$1,118,482
69$1,477,319$939,794$816,246$1,157,320
70$1,590,666$948,505$806,251$1,198,892
71$1,714,398$956,467$794,745$1,243,484
72$1,849,538$963,605$781,641$1,291,412
73$1,997,211$969,841$766,846$1,343,025
74$2,158,656$975,093$750,264$1,398,713
75$2,335,236$979,270$731,795$1,458,906
76$2,528,455$982,278$711,335$1,524,080
77$2,739,964$984,017$688,772$1,594,765
78$2,971,587$984,380$663,992$1,671,544
79$3,225,327$983,253$636,874$1,755,068
80$3,503,394$980,516$607,293$1,846,052
81$3,808,220$976,041$575,117$1,945,291
82$4,142,484$969,693$540,209$2,053,664
83$4,509,136$961,327$502,425$2,172,145
84$4,911,427$950,790$461,615$2,301,808
85$5,352,935$937,922$417,622$2,443,845
86$5,837,605$922,550$370,282$2,599,571
87$6,369,779$904,493$319,425$2,770,445
88$6,954,242$883,559$264,871$2,958,074
89$7,596,264$859,543$206,434$3,164,239
90$8,301,653$832,231$143,919$3,390,908
91$9,076,804$801,393$77,123$3,640,256
92$9,928,765$766,787$5,833$3,914,685
93$10,865,298$728,160$0$4,216,851
94$11,894,958$685,239$0$4,572,173
95$13,027,167$637,739$0$4,964,861
96$14,272,308$585,358$0$5,396,704
97$15,641,818$527,775$0$5,871,737
98$17,148,302$464,654$0$6,394,411
99$18,805,643$395,637$0$6,969,637
100$20,629,142$320,347$0$7,602,831