Can I retire at age 62 with 822,000?

Use the below retirement simulation to view the chances of a successful retirement.
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%16.1%
1 years$67,880$67,275$66,685$66,110$65,547$63,911
2 years$33,604$32,978$32,372$31,783$31,213$29,575
3 years$22,180$21,552$20,947$20,364$19,803$18,214
4 years$16,469$15,843$15,244$14,671$14,124$12,596
5 years$13,044$12,421$11,830$11,269$10,737$9,275
6 years$10,761$10,143$9,560$9,012$8,495$7,101
7 years$9,131$8,518$7,945$7,409$6,909$5,582
8 years$7,909$7,301$6,738$6,215$5,732$4,472
9 years$6,959$6,357$5,803$5,294$4,827$3,633
10 years$6,199$5,603$5,059$4,564$4,113$2,983
11 years$5,578$4,988$4,454$3,972$3,537$2,470
12 years$5,061$4,477$3,953$3,484$3,065$2,059
13 years$4,624$4,046$3,532$3,076$2,673$1,725
14 years$4,249$3,678$3,173$2,730$2,343$1,452
15 years$3,925$3,360$2,865$2,435$2,063$1,227
16 years$3,642$3,083$2,598$2,180$1,823$1,040
17 years$3,392$2,839$2,364$1,959$1,617$883
18 years$3,170$2,623$2,158$1,765$1,437$752
19 years$2,972$2,431$1,975$1,595$1,281$641
20 years$2,794$2,259$1,813$1,445$1,144$547
21 years$2,633$2,104$1,667$1,311$1,024$468
22 years$2,487$1,964$1,537$1,192$918$401
23 years$2,353$1,837$1,419$1,086$824$343
24 years$2,231$1,721$1,312$990$741$294
25 years$2,119$1,615$1,215$904$666$252
26 years$2,016$1,518$1,127$827$600$217
27 years$1,921$1,429$1,047$757$541$186
28 years$1,832$1,346$973$693$488$160
29 years$1,750$1,270$906$636$441$137
30 years$1,673$1,200$843$584$398$118
31 years$1,602$1,134$786$536$360$102
32 years$1,535$1,073$734$493$326$87
33 years$1,472$1,016$685$453$295$75
34 years$1,413$963$640$417$267$65
35 years$1,358$913$598$384$242$56
36 years$1,306$867$560$353$219$48
37 years$1,256$823$524$326$199$41
38 years$1,210$783$491$300$180$36
39 years$1,166$744$460$277$163$31
40 years$1,124$708$431$255$148$26
41 years$1,084$674$404$235$134$23
42 years$1,047$642$379$217$122$20
43 years$1,011$612$356$201$111$17
44 years$977$583$334$185$100$14
45 years$944$556$313$171$91$12
46 years$913$530$294$158$83$11
47 years$884$506$277$146$75$9
48 years$855$483$260$135$68$8
49 years$828$461$244$125$62$7
50 years$803$441$230$115$56$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $822,000, adding $3,196 every year, while hoping to spend $39,876 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: 77/12/11 Blend
61$822,000$822,000$822,000$822,000
62$909,141$865,575$852,834$977,065
63$959,445$865,560$838,976$1,022,201
64$1,013,544$864,208$823,317$1,066,274
65$1,071,783$861,412$805,756$1,113,465
66$1,134,540$857,056$786,184$1,164,069
67$1,202,232$851,020$764,489$1,218,411
68$1,275,315$843,176$740,555$1,276,850
69$1,354,292$833,386$714,258$1,339,780
70$1,439,714$821,507$685,471$1,407,639
71$1,532,190$807,385$654,059$1,480,905
72$1,632,385$790,859$619,881$1,560,110
73$1,741,033$771,755$582,792$1,645,836
74$1,858,940$749,894$542,638$1,738,730
75$1,986,995$725,081$499,259$1,839,500
76$2,126,172$697,114$452,487$1,948,930
77$2,277,545$665,775$402,149$2,067,884
78$2,442,294$630,839$348,061$2,197,316
79$2,621,720$592,062$290,033$2,338,276
80$2,817,253$549,190$227,866$2,491,922
81$3,030,465$501,952$161,352$2,659,533
82$3,263,089$450,065$90,275$2,842,517
83$3,517,032$393,226$14,406$3,042,430
84$3,794,392$331,117$0$3,260,985
85$4,097,479$263,400$0$3,507,885
86$4,428,837$189,722$0$3,779,713
87$4,791,266$109,706$0$4,077,106
88$5,187,850$22,956$0$4,402,631
89$5,621,983$0$0$4,759,115
90$6,097,404$0$0$5,159,045
91$6,618,230$0$0$5,600,519
92$7,188,996$0$0$6,084,354
93$7,814,695$0$0$6,614,787
94$8,500,826$0$0$7,196,484
95$9,253,447$0$0$7,834,583
96$10,079,230$0$0$8,534,747
97$10,985,524$0$0$9,303,210
98$11,980,423$0$0$10,146,841
99$13,072,845$0$0$11,073,205
100$14,272,612$0$0$12,090,637