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%13.8%
1 years$67,715$67,112$66,523$65,949$65,388$64,358
2 years$33,522$32,898$32,293$31,706$31,137$30,102
3 years$22,126$21,499$20,896$20,314$19,755$18,747
4 years$16,429$15,804$15,207$14,635$14,089$13,116
5 years$13,012$12,391$11,801$11,241$10,710$9,775
6 years$10,735$10,118$9,537$8,990$8,475$7,578
7 years$9,108$8,497$7,925$7,391$6,892$6,035
8 years$7,889$7,283$6,721$6,200$5,718$4,899
9 years$6,942$6,342$5,789$5,281$4,815$4,035
10 years$6,184$5,590$5,047$4,552$4,103$3,361
11 years$5,565$4,976$4,443$3,962$3,529$2,824
12 years$5,049$4,466$3,943$3,475$3,058$2,389
13 years$4,613$4,036$3,523$3,068$2,666$2,033
14 years$4,239$3,669$3,165$2,723$2,337$1,738
15 years$3,916$3,352$2,858$2,429$2,058$1,492
16 years$3,633$3,075$2,591$2,175$1,819$1,285
17 years$3,384$2,832$2,358$1,954$1,613$1,110
18 years$3,162$2,617$2,152$1,761$1,434$961
19 years$2,965$2,425$1,970$1,591$1,278$833
20 years$2,787$2,254$1,808$1,441$1,142$724
21 years$2,626$2,099$1,663$1,308$1,022$630
22 years$2,480$1,960$1,533$1,189$916$549
23 years$2,348$1,833$1,416$1,083$822$479
24 years$2,226$1,717$1,309$988$739$418
25 years$2,114$1,611$1,212$902$665$365
26 years$2,011$1,515$1,125$825$599$319
27 years$1,916$1,425$1,044$755$540$279
28 years$1,828$1,343$971$692$487$245
29 years$1,746$1,267$903$634$440$214
30 years$1,669$1,197$841$582$398$188
31 years$1,598$1,131$784$535$359$164
32 years$1,531$1,070$732$491$325$144
33 years$1,468$1,014$683$452$294$126
34 years$1,410$961$639$416$266$111
35 years$1,354$911$597$383$241$97
36 years$1,302$865$558$352$219$85
37 years$1,253$821$523$325$198$75
38 years$1,207$781$489$299$180$66
39 years$1,163$742$459$276$163$58
40 years$1,121$706$430$255$148$51
41 years$1,082$672$403$235$134$45
42 years$1,044$640$378$217$122$39
43 years$1,008$610$355$200$110$34
44 years$974$581$333$185$100$30
45 years$942$555$313$171$91$27
46 years$911$529$294$158$83$23
47 years$882$505$276$146$75$20
48 years$853$482$259$135$68$18
49 years$826$460$244$124$62$16
50 years$801$440$229$115$56$14

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $820,000, adding $2,223 every year, while hoping to spend $35,168 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: 38/50/12 Blend
61$820,000$820,000$820,000$820,000
62$905,933$862,473$849,763$936,969
63$960,920$867,316$840,812$964,097
64$1,020,336$871,217$830,382$989,810
65$1,084,598$874,094$818,386$1,016,823
66$1,154,160$875,857$804,735$1,045,269
67$1,229,523$876,414$789,333$1,075,297
68$1,311,239$875,663$772,081$1,107,073
69$1,399,914$873,499$752,874$1,140,782
70$1,496,215$869,809$731,604$1,176,631
71$1,600,873$864,474$708,157$1,214,850
72$1,714,695$857,367$682,414$1,255,696
73$1,838,570$848,353$654,251$1,299,454
74$1,973,472$837,291$623,536$1,346,442
75$2,120,477$824,029$590,135$1,397,015
76$2,280,766$808,406$553,905$1,451,566
77$2,455,640$790,254$514,697$1,510,531
78$2,646,532$769,394$472,356$1,574,399
79$2,855,018$745,634$426,720$1,643,709
80$3,082,834$718,774$377,619$1,719,062
81$3,331,890$688,600$324,876$1,801,124
82$3,604,290$654,889$268,306$1,890,635
83$3,902,349$617,400$207,717$1,988,416
84$4,228,619$575,883$142,906$2,095,379
85$4,585,908$530,072$73,663$2,212,534
86$4,977,309$479,683$0$2,341,000
87$5,406,227$424,420$0$2,482,050
88$5,876,413$363,967$0$2,647,098
89$6,391,999$297,994$0$2,828,256
90$6,957,535$226,147$0$3,027,246
91$7,578,032$148,057$0$3,245,973
92$8,259,011$63,332$0$3,486,542
93$9,006,553$0$0$3,751,283
94$9,827,355$0$0$4,058,419
95$10,728,796$0$0$4,434,115
96$11,719,005$0$0$4,846,927
97$12,806,934$0$0$5,300,602
98$14,002,450$0$0$5,799,269
99$15,316,417$0$0$6,347,477
100$16,760,810$0$0$6,950,239