Can I retire at age 62 with 829,000?

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 $829,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%11.4%
1 years$68,458$67,848$67,253$66,673$66,106$65,717
2 years$33,890$33,259$32,647$32,054$31,479$31,086
3 years$22,369$21,735$21,125$20,537$19,971$19,588
4 years$16,610$15,978$15,374$14,796$14,244$13,872
5 years$13,155$12,527$11,930$11,365$10,828$10,469
6 years$10,852$10,229$9,642$9,089$8,568$8,222
7 years$9,208$8,590$8,012$7,472$6,968$6,635
8 years$7,976$7,363$6,795$6,268$5,781$5,461
9 years$7,018$6,411$5,853$5,339$4,868$4,562
10 years$6,252$5,651$5,102$4,602$4,148$3,855
11 years$5,626$5,031$4,492$4,005$3,567$3,287
12 years$5,104$4,515$3,987$3,513$3,091$2,824
13 years$4,663$4,081$3,562$3,102$2,696$2,441
14 years$4,286$3,709$3,200$2,753$2,363$2,120
15 years$3,959$3,388$2,889$2,456$2,081$1,850
16 years$3,673$3,109$2,620$2,199$1,839$1,620
17 years$3,421$2,863$2,384$1,975$1,630$1,422
18 years$3,197$2,646$2,176$1,780$1,450$1,253
19 years$2,997$2,452$1,992$1,609$1,292$1,105
20 years$2,818$2,278$1,828$1,457$1,154$978
21 years$2,655$2,122$1,682$1,322$1,033$866
22 years$2,508$1,981$1,550$1,202$926$768
23 years$2,373$1,853$1,431$1,095$831$682
24 years$2,250$1,736$1,323$999$747$607
25 years$2,137$1,629$1,226$912$672$540
26 years$2,033$1,531$1,137$834$605$482
27 years$1,937$1,441$1,056$763$546$429
28 years$1,848$1,358$981$699$493$383
29 years$1,765$1,281$913$641$445$342
30 years$1,687$1,210$851$589$402$306
31 years$1,615$1,144$793$541$363$273
32 years$1,548$1,082$740$497$329$244
33 years$1,485$1,025$691$457$297$219
34 years$1,425$971$646$420$269$196
35 years$1,369$921$604$387$244$175
36 years$1,317$874$565$356$221$157
37 years$1,267$830$528$328$200$141
38 years$1,220$789$495$303$182$126
39 years$1,176$750$464$279$165$113
40 years$1,133$714$435$257$149$101
41 years$1,093$680$407$237$136$91
42 years$1,055$647$382$219$123$81
43 years$1,019$617$359$202$112$73
44 years$985$588$337$187$101$65
45 years$952$561$316$173$92$59
46 years$921$535$297$159$83$53
47 years$891$510$279$147$76$47
48 years$863$487$262$136$69$42
49 years$835$465$246$126$63$38
50 years$809$444$232$116$57$34

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $829,000, adding $3,526 every year, while hoping to spend $39,598 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: 33/43/24 Blend
61$829,000$829,000$829,000$829,000
62$917,195$873,258$860,409$940,635
63$968,617$873,916$847,100$959,204
64$1,023,957$873,278$832,019$975,384
65$1,083,572$871,241$815,064$992,025
66$1,147,857$867,692$796,128$1,009,193
67$1,217,241$862,512$775,102$1,026,965
68$1,292,201$855,576$751,868$1,045,428
69$1,373,256$846,750$726,307$1,064,681
70$1,460,981$835,893$698,291$1,084,836
71$1,556,004$822,855$667,687$1,106,024
72$1,659,019$807,478$634,357$1,128,390
73$1,770,787$789,593$598,156$1,152,099
74$1,892,146$769,021$558,933$1,177,338
75$2,024,017$745,575$516,529$1,204,317
76$2,167,412$719,054$470,779$1,233,275
77$2,323,448$689,248$421,510$1,264,478
78$2,493,351$655,932$368,541$1,298,228
79$2,678,471$618,870$311,685$1,334,861
80$2,880,293$577,813$250,745$1,374,757
81$3,100,453$532,495$185,514$1,418,340
82$3,340,749$482,638$115,779$1,466,085
83$3,603,163$427,945$41,315$1,518,525
84$3,889,875$368,104$0$1,576,252
85$4,203,287$302,785$0$1,649,702
86$4,546,041$231,641$0$1,741,770
87$4,921,048$154,301$0$1,842,757
88$5,331,511$70,379$0$1,953,654
89$5,780,960$0$0$2,075,557
90$6,273,280$0$0$2,219,401
91$6,812,751$0$0$2,413,634
92$7,404,085$0$0$2,626,666
93$8,052,473$0$0$2,860,383
94$8,763,631$0$0$3,116,861
95$9,543,856$0$0$3,398,389
96$10,400,084$0$0$3,707,486
97$11,339,954$0$0$4,046,929
98$12,371,881$0$0$4,419,776
99$13,505,134$0$0$4,829,394
100$14,749,927$0$0$5,279,496