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%18.4%
1 years$68,045$67,439$66,848$66,271$65,707$63,477
2 years$33,686$33,058$32,450$31,861$31,289$29,064
3 years$22,234$21,604$20,998$20,414$19,851$17,702
4 years$16,509$15,881$15,281$14,707$14,158$12,101
5 years$13,075$12,451$11,859$11,296$10,763$8,803
6 years$10,787$10,167$9,583$9,034$8,516$6,655
7 years$9,153$8,538$7,964$7,427$6,926$5,164
8 years$7,928$7,319$6,754$6,230$5,746$4,081
9 years$6,976$6,373$5,817$5,307$4,839$3,269
10 years$6,214$5,617$5,072$4,575$4,123$2,646
11 years$5,592$5,001$4,465$3,981$3,546$2,159
12 years$5,073$4,488$3,963$3,492$3,073$1,772
13 years$4,635$4,056$3,540$3,083$2,679$1,463
14 years$4,260$3,687$3,181$2,737$2,349$1,212
15 years$3,935$3,368$2,872$2,441$2,068$1,007
16 years$3,651$3,090$2,604$2,185$1,828$839
17 years$3,400$2,846$2,369$1,964$1,621$701
18 years$3,178$2,630$2,163$1,770$1,441$587
19 years$2,979$2,437$1,980$1,599$1,284$492
20 years$2,801$2,265$1,817$1,448$1,147$413
21 years$2,639$2,110$1,671$1,314$1,027$347
22 years$2,493$1,969$1,541$1,195$920$291
23 years$2,359$1,842$1,422$1,088$826$245
24 years$2,237$1,726$1,315$993$742$206
25 years$2,124$1,619$1,218$906$668$174
26 years$2,021$1,522$1,130$829$602$146
27 years$1,925$1,432$1,049$759$543$123
28 years$1,837$1,350$975$695$490$104
29 years$1,754$1,273$908$637$442$88
30 years$1,677$1,202$846$585$399$74
31 years$1,606$1,137$788$537$361$62
32 years$1,539$1,076$735$494$327$53
33 years$1,476$1,019$687$454$296$45
34 years$1,417$965$642$418$268$38
35 years$1,361$916$600$385$242$32
36 years$1,309$869$561$354$220$27
37 years$1,259$825$525$326$199$23
38 years$1,213$784$492$301$180$19
39 years$1,168$746$461$277$164$16
40 years$1,127$710$432$256$148$14
41 years$1,087$676$405$236$135$11
42 years$1,049$643$380$218$122$10
43 years$1,013$613$357$201$111$8
44 years$979$584$335$186$101$7
45 years$946$557$314$171$91$6
46 years$915$532$295$158$83$5
47 years$886$507$277$146$75$4
48 years$857$484$261$135$68$4
49 years$830$462$245$125$62$3
50 years$805$442$230$116$56$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $824,000, adding $5,831 every year, while hoping to spend $32,750 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: 67/20/13 Blend
61$824,000$824,000$824,000$824,000
62$914,063$870,391$857,619$972,226
63$972,451$878,194$851,503$1,019,523
64$1,035,698$885,282$844,085$1,066,802
65$1,104,264$891,585$835,286$1,117,660
66$1,178,655$897,030$825,025$1,172,446
67$1,259,430$901,536$813,215$1,231,543
68$1,347,201$905,020$799,767$1,295,375
69$1,442,643$907,394$784,587$1,364,408
70$1,546,497$908,562$767,576$1,439,156
71$1,659,582$908,423$748,631$1,520,189
72$1,782,794$906,870$727,645$1,608,132
73$1,917,123$903,790$704,505$1,703,677
74$2,063,656$899,063$679,093$1,807,586
75$2,223,592$892,560$651,286$1,920,700
76$2,398,249$884,146$620,954$2,043,948
77$2,589,078$873,677$587,964$2,178,351
78$2,797,678$861,001$552,174$2,325,040
79$3,025,806$845,956$513,437$2,485,260
80$3,275,401$828,370$471,600$2,660,384
81$3,548,595$808,063$426,502$2,851,928
82$3,847,737$784,843$377,974$3,061,563
83$4,175,412$758,506$325,843$3,291,132
84$4,534,469$728,838$269,923$3,542,669
85$4,928,045$695,611$210,026$3,818,417
86$5,359,593$658,584$145,950$4,120,848
87$5,832,920$617,503$77,487$4,452,692
88$6,352,215$572,098$4,420$4,816,956
89$6,922,095$522,085$0$5,216,960
90$7,547,645$467,163$0$5,666,564
91$8,234,464$407,014$0$6,160,919
92$8,988,724$341,301$0$6,703,897
93$9,817,219$269,671$0$7,300,441
94$10,727,439$191,748$0$7,955,999
95$11,727,629$107,135$0$8,676,579
96$12,826,878$15,416$0$9,468,803
97$14,035,196$0$0$10,339,967
98$15,363,611$0$0$11,316,572
99$16,824,275$0$0$12,394,188
100$18,430,574$0$0$13,579,306