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%17.1%
1 years$68,458$67,848$67,253$66,673$66,106$64,195
2 years$33,890$33,259$32,647$32,054$31,479$29,569
3 years$22,369$21,735$21,125$20,537$19,971$18,123
4 years$16,610$15,978$15,374$14,796$14,244$12,470
5 years$13,155$12,527$11,930$11,365$10,828$9,134
6 years$10,852$10,229$9,642$9,089$8,568$6,955
7 years$9,208$8,590$8,012$7,472$6,968$5,436
8 years$7,976$7,363$6,795$6,268$5,781$4,329
9 years$7,018$6,411$5,853$5,339$4,868$3,496
10 years$6,252$5,651$5,102$4,602$4,148$2,853
11 years$5,626$5,031$4,492$4,005$3,567$2,347
12 years$5,104$4,515$3,987$3,513$3,091$1,944
13 years$4,663$4,081$3,562$3,102$2,696$1,618
14 years$4,286$3,709$3,200$2,753$2,363$1,353
15 years$3,959$3,388$2,889$2,456$2,081$1,135
16 years$3,673$3,109$2,620$2,199$1,839$955
17 years$3,421$2,863$2,384$1,975$1,630$805
18 years$3,197$2,646$2,176$1,780$1,450$680
19 years$2,997$2,452$1,992$1,609$1,292$576
20 years$2,818$2,278$1,828$1,457$1,154$488
21 years$2,655$2,122$1,682$1,322$1,033$414
22 years$2,508$1,981$1,550$1,202$926$352
23 years$2,373$1,853$1,431$1,095$831$299
24 years$2,250$1,736$1,323$999$747$254
25 years$2,137$1,629$1,226$912$672$216
26 years$2,033$1,531$1,137$834$605$184
27 years$1,937$1,441$1,056$763$546$157
28 years$1,848$1,358$981$699$493$134
29 years$1,765$1,281$913$641$445$114
30 years$1,687$1,210$851$589$402$97
31 years$1,615$1,144$793$541$363$83
32 years$1,548$1,082$740$497$329$71
33 years$1,485$1,025$691$457$297$60
34 years$1,425$971$646$420$269$51
35 years$1,369$921$604$387$244$44
36 years$1,317$874$565$356$221$37
37 years$1,267$830$528$328$200$32
38 years$1,220$789$495$303$182$27
39 years$1,176$750$464$279$165$23
40 years$1,133$714$435$257$149$20
41 years$1,093$680$407$237$136$17
42 years$1,055$647$382$219$123$15
43 years$1,019$617$359$202$112$12
44 years$985$588$337$187$101$11
45 years$952$561$316$173$92$9
46 years$921$535$297$159$83$8
47 years$891$510$279$147$76$7
48 years$863$487$262$136$69$6
49 years$835$465$246$126$63$5
50 years$809$444$232$116$57$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $829,000, adding $4,115 every year, while hoping to spend $34,369 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: 36/34/30 Blend
61$829,000$829,000$829,000$829,000
62$917,803$873,866$861,016$942,472
63$974,850$880,117$853,292$967,528
64$1,036,565$885,522$844,157$991,180
65$1,103,386$890,004$833,528$1,016,067
66$1,175,797$893,480$821,317$1,042,326
67$1,254,330$895,863$807,433$1,070,107
68$1,339,569$897,058$791,779$1,099,578
69$1,432,158$896,966$774,256$1,130,930
70$1,532,803$895,482$754,759$1,164,371
71$1,642,283$892,495$733,177$1,200,138
72$1,761,453$887,885$709,396$1,238,491
73$1,891,256$881,526$683,296$1,279,723
74$2,032,729$873,285$654,750$1,324,158
75$2,187,011$863,019$623,628$1,372,157
76$2,355,358$850,580$589,792$1,424,122
77$2,539,154$835,807$553,099$1,480,501
78$2,739,918$818,532$513,398$1,541,790
79$2,959,325$798,576$470,533$1,608,542
80$3,199,221$775,750$424,340$1,681,371
81$3,461,634$749,855$374,648$1,760,956
82$3,748,800$720,677$321,278$1,848,054
83$4,063,180$687,993$264,044$1,943,505
84$4,407,486$651,566$202,751$2,048,237
85$4,784,701$611,144$137,195$2,163,284
86$5,198,113$566,463$67,163$2,289,788
87$5,651,343$517,242$0$2,429,017
88$6,148,377$463,184$0$2,584,801
89$6,693,607$403,976$0$2,779,371
90$7,291,871$339,287$0$2,993,006
91$7,948,497$268,766$0$3,227,694
92$8,669,353$192,046$0$3,485,632
93$9,460,905$108,734$0$3,769,244
94$10,330,275$18,419$0$4,081,209
95$11,285,308$0$0$4,424,482
96$12,334,646$0$0$4,832,009
97$13,487,811$0$0$5,287,559
98$14,755,293$0$0$5,788,400
99$16,148,647$0$0$6,339,114
100$17,680,605$0$0$6,944,750