Can I retire at age 62 with 822,000?

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 $822,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%16.8%
1 years$67,880$67,275$66,685$66,110$65,547$63,730
2 years$33,604$32,978$32,372$31,783$31,213$29,396
3 years$22,180$21,552$20,947$20,364$19,803$18,043
4 years$16,469$15,843$15,244$14,671$14,124$12,434
5 years$13,044$12,421$11,830$11,269$10,737$9,122
6 years$10,761$10,143$9,560$9,012$8,495$6,957
7 years$9,131$8,518$7,945$7,409$6,909$5,447
8 years$7,909$7,301$6,738$6,215$5,732$4,346
9 years$6,959$6,357$5,803$5,294$4,827$3,515
10 years$6,199$5,603$5,059$4,564$4,113$2,874
11 years$5,578$4,988$4,454$3,972$3,537$2,369
12 years$5,061$4,477$3,953$3,484$3,065$1,966
13 years$4,624$4,046$3,532$3,076$2,673$1,640
14 years$4,249$3,678$3,173$2,730$2,343$1,374
15 years$3,925$3,360$2,865$2,435$2,063$1,155
16 years$3,642$3,083$2,598$2,180$1,823$974
17 years$3,392$2,839$2,364$1,959$1,617$823
18 years$3,170$2,623$2,158$1,765$1,437$697
19 years$2,972$2,431$1,975$1,595$1,281$591
20 years$2,794$2,259$1,813$1,445$1,144$502
21 years$2,633$2,104$1,667$1,311$1,024$427
22 years$2,487$1,964$1,537$1,192$918$363
23 years$2,353$1,837$1,419$1,086$824$310
24 years$2,231$1,721$1,312$990$741$264
25 years$2,119$1,615$1,215$904$666$225
26 years$2,016$1,518$1,127$827$600$192
27 years$1,921$1,429$1,047$757$541$164
28 years$1,832$1,346$973$693$488$140
29 years$1,750$1,270$906$636$441$120
30 years$1,673$1,200$843$584$398$102
31 years$1,602$1,134$786$536$360$88
32 years$1,535$1,073$734$493$326$75
33 years$1,472$1,016$685$453$295$64
34 years$1,413$963$640$417$267$55
35 years$1,358$913$598$384$242$47
36 years$1,306$867$560$353$219$40
37 years$1,256$823$524$326$199$34
38 years$1,210$783$491$300$180$29
39 years$1,166$744$460$277$163$25
40 years$1,124$708$431$255$148$22
41 years$1,084$674$404$235$134$18
42 years$1,047$642$379$217$122$16
43 years$1,011$612$356$201$111$13
44 years$977$583$334$185$100$12
45 years$944$556$313$171$91$10
46 years$913$530$294$158$83$8
47 years$884$506$277$146$75$7
48 years$855$483$260$135$68$6
49 years$828$461$244$125$62$5
50 years$803$441$230$115$56$5

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $822,000, adding $4,420 every year, while hoping to spend $41,768 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: 52/24/24 Blend
61$822,000$822,000$822,000$822,000
62$910,403$866,837$854,096$951,450
63$958,824$864,871$838,268$978,345
64$1,010,783$861,409$820,509$1,002,945
65$1,066,598$856,334$800,711$1,028,847
66$1,126,617$849,520$778,761$1,056,188
67$1,191,221$840,836$754,539$1,085,127
68$1,260,830$830,142$727,921$1,115,836
69$1,335,905$817,288$698,776$1,148,511
70$1,416,951$802,119$666,969$1,183,368
71$1,504,525$784,468$632,357$1,220,649
72$1,599,236$764,157$594,791$1,260,622
73$1,701,758$741,000$554,116$1,303,587
74$1,812,829$714,800$510,170$1,349,877
75$1,933,259$685,347$462,782$1,399,863
76$2,063,942$652,420$411,776$1,453,956
77$2,205,860$615,784$356,966$1,512,615
78$2,360,092$575,192$298,159$1,576,348
79$2,527,827$530,382$235,153$1,645,719
80$2,710,372$481,077$167,737$1,721,357
81$2,909,164$426,984$95,691$1,803,957
82$3,125,787$367,795$18,784$1,894,291
83$3,361,981$303,181$0$1,993,216
84$3,619,665$232,798$0$2,117,888
85$3,900,947$156,282$0$2,259,340
86$4,208,151$73,247$0$2,413,990
87$4,543,832$0$0$2,583,200
88$4,910,806$0$0$2,772,888
89$5,312,172$0$0$3,001,589
90$5,751,342$0$0$3,251,912
91$6,232,072$0$0$3,526,009
92$6,758,502$0$0$3,826,250
93$7,335,186$0$0$4,155,244
94$7,967,142$0$0$4,515,864
95$8,659,896$0$0$4,911,277
96$9,419,535$0$0$5,344,968
97$10,252,761$0$0$5,820,777
98$11,166,958$0$0$6,342,932
99$12,170,258$0$0$6,916,094
100$13,271,620$0$0$7,545,392