Can I retire at age 62 with 823,000?

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 $823,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$67,963$67,357$66,767$66,190$65,627$64,355
2 years$33,645$33,018$32,411$31,822$31,251$29,974
3 years$22,207$21,578$20,972$20,389$19,827$18,586
4 years$16,489$15,862$15,262$14,689$14,141$12,944
5 years$13,060$12,436$11,844$11,283$10,750$9,602
6 years$10,774$10,155$9,572$9,023$8,506$7,408
7 years$9,142$8,528$7,954$7,418$6,917$5,869
8 years$7,918$7,310$6,746$6,223$5,739$4,740
9 years$6,967$6,365$5,810$5,300$4,833$3,883
10 years$6,207$5,610$5,065$4,569$4,118$3,216
11 years$5,585$4,994$4,460$3,976$3,541$2,687
12 years$5,067$4,483$3,958$3,488$3,069$2,260
13 years$4,629$4,051$3,536$3,079$2,676$1,912
14 years$4,255$3,682$3,177$2,733$2,346$1,625
15 years$3,930$3,364$2,868$2,438$2,066$1,386
16 years$3,646$3,086$2,601$2,183$1,826$1,186
17 years$3,396$2,842$2,367$1,961$1,619$1,018
18 years$3,174$2,626$2,160$1,767$1,439$875
19 years$2,976$2,434$1,978$1,597$1,283$754
20 years$2,797$2,262$1,815$1,446$1,146$651
21 years$2,636$2,107$1,669$1,313$1,025$563
22 years$2,490$1,967$1,539$1,194$919$487
23 years$2,356$1,839$1,421$1,087$825$422
24 years$2,234$1,723$1,314$991$742$365
25 years$2,122$1,617$1,217$905$667$317
26 years$2,018$1,520$1,129$828$601$275
27 years$1,923$1,431$1,048$758$542$239
28 years$1,834$1,348$974$694$489$208
29 years$1,752$1,272$907$637$442$181
30 years$1,675$1,201$845$584$399$157
31 years$1,604$1,135$787$537$361$137
32 years$1,537$1,074$735$493$326$119
33 years$1,474$1,017$686$454$295$104
34 years$1,415$964$641$417$267$90
35 years$1,359$915$599$384$242$78
36 years$1,307$868$560$354$219$68
37 years$1,258$824$525$326$199$60
38 years$1,211$783$491$300$180$52
39 years$1,167$745$460$277$163$45
40 years$1,125$709$431$256$148$39
41 years$1,085$675$405$236$135$34
42 years$1,048$643$379$218$122$30
43 years$1,012$612$356$201$111$26
44 years$978$584$334$185$101$23
45 years$945$557$314$171$91$20
46 years$914$531$295$158$83$17
47 years$885$507$277$146$75$15
48 years$856$484$260$135$68$13
49 years$829$462$245$125$62$11
50 years$804$441$230$115$56$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $823,000, adding $5,249 every year, while hoping to spend $50,470 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: 74/9/17 Blend
61$823,000$823,000$823,000$823,000
62$912,360$868,741$855,985$975,958
63$951,721$857,610$830,961$1,007,668
64$993,406$844,242$803,407$1,035,703
65$1,037,597$828,473$773,185$1,065,091
66$1,084,496$810,133$740,151$1,095,954
67$1,134,322$789,037$704,153$1,128,429
68$1,187,316$764,993$665,035$1,162,666
69$1,243,740$737,795$622,631$1,198,829
70$1,303,881$707,226$576,769$1,237,104
71$1,368,055$673,059$527,269$1,277,694
72$1,436,607$635,049$473,943$1,320,825
73$1,509,915$592,941$416,595$1,366,746
74$1,588,394$546,462$355,018$1,415,735
75$1,672,499$495,327$288,999$1,468,097
76$1,762,728$439,233$218,315$1,524,172
77$1,859,629$377,857$142,731$1,584,336
78$1,963,802$310,864$62,004$1,649,002
79$2,075,908$237,894$0$1,718,632
80$2,196,670$158,570$0$1,798,113
81$2,326,884$72,494$0$1,895,915
82$2,467,423$0$0$2,001,452
83$2,619,249$0$0$2,117,520
84$2,783,415$0$0$2,250,814
85$2,961,081$0$0$2,395,099
86$3,153,523$0$0$2,551,414
87$3,362,142$0$0$2,720,902
88$3,588,480$0$0$2,904,818
89$3,834,231$0$0$3,104,545
90$4,101,260$0$0$3,321,603
91$4,391,617$0$0$3,557,663
92$4,707,561$0$0$3,814,565
93$5,051,572$0$0$4,094,332
94$5,426,384$0$0$4,399,192
95$5,835,002$0$0$4,731,595
96$6,280,736$0$0$5,094,240
97$6,767,227$0$0$5,490,096
98$7,298,485$0$0$5,922,430
99$7,878,923$0$0$6,394,841
100$8,513,399$0$0$6,911,291