Can I retire at age 62 with 824,000?

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 $824,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$68,045$67,439$66,848$66,271$65,707$64,752
2 years$33,686$33,058$32,450$31,861$31,289$30,329
3 years$22,234$21,604$20,998$20,414$19,851$18,915
4 years$16,509$15,881$15,281$14,707$14,158$13,254
5 years$13,075$12,451$11,859$11,296$10,763$9,893
6 years$10,787$10,167$9,583$9,034$8,516$7,683
7 years$9,153$8,538$7,964$7,427$6,926$6,128
8 years$7,928$7,319$6,754$6,230$5,746$4,984
9 years$6,976$6,373$5,817$5,307$4,839$4,112
10 years$6,214$5,617$5,072$4,575$4,123$3,431
11 years$5,592$5,001$4,465$3,981$3,546$2,888
12 years$5,073$4,488$3,963$3,492$3,073$2,448
13 years$4,635$4,056$3,540$3,083$2,679$2,088
14 years$4,260$3,687$3,181$2,737$2,349$1,788
15 years$3,935$3,368$2,872$2,441$2,068$1,538
16 years$3,651$3,090$2,604$2,185$1,828$1,328
17 years$3,400$2,846$2,369$1,964$1,621$1,149
18 years$3,178$2,630$2,163$1,770$1,441$997
19 years$2,979$2,437$1,980$1,599$1,284$866
20 years$2,801$2,265$1,817$1,448$1,147$754
21 years$2,639$2,110$1,671$1,314$1,027$658
22 years$2,493$1,969$1,541$1,195$920$575
23 years$2,359$1,842$1,422$1,088$826$502
24 years$2,237$1,726$1,315$993$742$440
25 years$2,124$1,619$1,218$906$668$385
26 years$2,021$1,522$1,130$829$602$337
27 years$1,925$1,432$1,049$759$543$296
28 years$1,837$1,350$975$695$490$260
29 years$1,754$1,273$908$637$442$228
30 years$1,677$1,202$846$585$399$200
31 years$1,606$1,137$788$537$361$176
32 years$1,539$1,076$735$494$327$155
33 years$1,476$1,019$687$454$296$136
34 years$1,417$965$642$418$268$120
35 years$1,361$916$600$385$242$105
36 years$1,309$869$561$354$220$93
37 years$1,259$825$525$326$199$81
38 years$1,213$784$492$301$180$72
39 years$1,168$746$461$277$164$63
40 years$1,127$710$432$256$148$56
41 years$1,087$676$405$236$135$49
42 years$1,049$643$380$218$122$43
43 years$1,013$613$357$201$111$38
44 years$979$584$335$186$101$33
45 years$946$557$314$171$91$29
46 years$915$532$295$158$83$26
47 years$886$507$277$146$75$23
48 years$857$484$261$135$68$20
49 years$830$462$245$125$62$18
50 years$805$442$230$116$56$16

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $824,000, adding $2,098 every year, while hoping to spend $29,423 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: 44/32/24 Blend
61$824,000$824,000$824,000$824,000
62$910,212$866,540$853,768$943,844
63$971,748$877,695$851,063$979,051
64$1,038,574$888,410$847,282$1,014,180
65$1,111,200$898,633$842,357$1,051,675
66$1,190,184$908,307$836,217$1,091,769
67$1,276,142$917,374$828,790$1,134,724
68$1,369,751$925,768$819,997$1,180,827
69$1,471,757$933,422$809,759$1,230,396
70$1,582,980$940,263$797,989$1,283,784
71$1,704,322$946,214$784,600$1,341,381
72$1,836,777$951,193$769,499$1,403,618
73$1,981,439$955,112$752,588$1,470,973
74$2,139,512$957,879$733,765$1,543,971
75$2,312,321$959,394$712,926$1,623,198
76$2,501,326$959,553$689,957$1,709,297
77$2,708,134$958,243$664,743$1,802,981
78$2,934,514$955,347$637,162$1,905,040
79$3,182,414$950,739$607,087$2,016,343
80$3,453,981$944,286$574,384$2,137,853
81$3,751,576$935,845$538,916$2,270,635
82$4,077,803$925,268$500,535$2,415,863
83$4,435,527$912,394$459,092$2,574,837
84$4,827,906$897,056$414,426$2,748,992
85$5,258,415$879,075$366,372$2,939,912
86$5,730,886$858,262$314,758$3,149,349
87$6,249,536$834,416$259,402$3,379,235
88$6,819,012$807,327$200,116$3,631,706
89$7,444,434$776,768$136,703$3,909,121
90$8,131,441$742,504$68,956$4,214,082
91$8,886,243$704,282$0$4,549,465
92$9,715,686$661,838$0$4,919,299
93$10,627,307$614,890$0$5,345,131
94$11,629,414$563,140$0$5,813,213
95$12,731,156$506,276$0$6,327,875
96$13,942,616$443,965$0$6,893,893
97$15,274,900$375,857$0$7,516,536
98$16,740,246$301,581$0$8,201,612
99$18,352,138$220,745$0$8,955,527
100$20,125,431$132,936$0$9,785,346