Can I retire at age 62 with 820,000?

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 $820,000?

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$67,715$67,112$66,523$65,949$65,388$64,517
2 years$33,522$32,898$32,293$31,706$31,137$30,261
3 years$22,126$21,499$20,896$20,314$19,755$18,901
4 years$16,429$15,804$15,207$14,635$14,089$13,264
5 years$13,012$12,391$11,801$11,241$10,710$9,917
6 years$10,735$10,118$9,537$8,990$8,475$7,713
7 years$9,108$8,497$7,925$7,391$6,892$6,163
8 years$7,889$7,283$6,721$6,200$5,718$5,020
9 years$6,942$6,342$5,789$5,281$4,815$4,150
10 years$6,184$5,590$5,047$4,552$4,103$3,469
11 years$5,565$4,976$4,443$3,962$3,529$2,925
12 years$5,049$4,466$3,943$3,475$3,058$2,485
13 years$4,613$4,036$3,523$3,068$2,666$2,123
14 years$4,239$3,669$3,165$2,723$2,337$1,822
15 years$3,916$3,352$2,858$2,429$2,058$1,571
16 years$3,633$3,075$2,591$2,175$1,819$1,358
17 years$3,384$2,832$2,358$1,954$1,613$1,178
18 years$3,162$2,617$2,152$1,761$1,434$1,024
19 years$2,965$2,425$1,970$1,591$1,278$892
20 years$2,787$2,254$1,808$1,441$1,142$779
21 years$2,626$2,099$1,663$1,308$1,022$681
22 years$2,480$1,960$1,533$1,189$916$596
23 years$2,348$1,833$1,416$1,083$822$522
24 years$2,226$1,717$1,309$988$739$458
25 years$2,114$1,611$1,212$902$665$402
26 years$2,011$1,515$1,125$825$599$353
27 years$1,916$1,425$1,044$755$540$310
28 years$1,828$1,343$971$692$487$273
29 years$1,746$1,267$903$634$440$240
30 years$1,669$1,197$841$582$398$212
31 years$1,598$1,131$784$535$359$186
32 years$1,531$1,070$732$491$325$164
33 years$1,468$1,014$683$452$294$145
34 years$1,410$961$639$416$266$128
35 years$1,354$911$597$383$241$113
36 years$1,302$865$558$352$219$99
37 years$1,253$821$523$325$198$88
38 years$1,207$781$489$299$180$77
39 years$1,163$742$459$276$163$68
40 years$1,121$706$430$255$148$60
41 years$1,082$672$403$235$134$53
42 years$1,044$640$378$217$122$47
43 years$1,008$610$355$200$110$41
44 years$974$581$333$185$100$37
45 years$942$555$313$171$91$32
46 years$911$529$294$158$83$28
47 years$882$505$276$146$75$25
48 years$853$482$259$135$68$22
49 years$826$460$244$124$62$20
50 years$801$440$229$115$56$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $820,000, adding $5,400 every year, while hoping to spend $40,559 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: 64/14/22 Blend
61$820,000$820,000$820,000$820,000
62$909,210$865,750$853,040$961,905
63$958,795$865,017$838,462$997,328
64$1,012,078$862,889$822,037$1,030,968
65$1,069,394$859,255$803,659$1,066,791
66$1,131,110$853,996$783,220$1,105,014
67$1,197,629$846,988$760,603$1,145,875
68$1,269,394$838,097$735,690$1,189,642
69$1,346,892$827,183$708,355$1,236,608
70$1,430,657$814,097$678,467$1,287,098
71$1,521,277$798,681$645,889$1,341,474
72$1,619,398$780,767$610,477$1,400,133
73$1,725,730$760,179$572,082$1,463,516
74$1,841,055$736,727$530,547$1,532,112
75$1,966,231$710,215$485,708$1,606,459
76$2,102,202$680,432$437,395$1,687,155
77$2,250,008$647,154$385,430$1,774,859
78$2,410,792$610,148$329,625$1,870,300
79$2,585,811$569,164$269,785$1,974,285
80$2,776,450$523,938$205,709$2,087,705
81$2,984,230$474,194$137,183$2,211,546
82$3,210,829$419,636$63,985$2,346,895
83$3,458,090$359,955$0$2,494,955
84$3,728,043$294,821$0$2,660,373
85$4,022,925$223,889$0$2,857,545
86$4,345,196$146,792$0$3,073,116
87$4,697,564$63,142$0$3,308,939
88$5,083,011$0$0$3,567,057
89$5,504,823$0$0$3,853,955
90$5,966,615$0$0$4,178,751
91$6,472,369$0$0$4,534,524
92$7,026,471$0$0$4,924,366
93$7,633,750$0$0$5,351,682
94$8,299,524$0$0$5,820,224
95$9,029,652$0$0$6,334,120
96$9,830,585$0$0$6,897,922
97$10,709,431$0$0$7,516,639
98$11,674,017$0$0$8,195,793
99$12,732,966$0$0$8,941,462
100$13,895,776$0$0$9,760,345