Can I retire at age 62 with 830,000?

Use the below retirement simulation to view the chances of a successful retirement.
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 $830,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15%
1 years$68,541$67,930$67,334$66,753$66,185$64,823
2 years$33,931$33,299$32,687$32,093$31,517$30,150
3 years$22,396$21,761$21,150$20,562$19,996$18,667
4 years$16,630$15,997$15,392$14,814$14,261$12,982
5 years$13,171$12,542$11,945$11,378$10,841$9,614
6 years$10,865$10,241$9,653$9,099$8,578$7,405
7 years$9,220$8,601$8,022$7,481$6,976$5,857
8 years$7,986$7,372$6,803$6,276$5,788$4,722
9 years$7,026$6,419$5,860$5,346$4,874$3,862
10 years$6,260$5,658$5,109$4,608$4,153$3,193
11 years$5,633$5,037$4,497$4,010$3,572$2,662
12 years$5,110$4,521$3,991$3,518$3,095$2,235
13 years$4,669$4,086$3,566$3,105$2,699$1,887
14 years$4,291$3,714$3,204$2,757$2,366$1,600
15 years$3,963$3,393$2,893$2,458$2,083$1,362
16 years$3,677$3,113$2,623$2,201$1,841$1,163
17 years$3,425$2,867$2,387$1,978$1,632$996
18 years$3,201$2,649$2,179$1,782$1,451$855
19 years$3,001$2,455$1,995$1,611$1,294$735
20 years$2,821$2,281$1,830$1,459$1,156$633
21 years$2,658$2,125$1,684$1,324$1,034$546
22 years$2,511$1,983$1,552$1,204$927$471
23 years$2,376$1,855$1,433$1,096$832$407
24 years$2,253$1,738$1,325$1,000$748$352
25 years$2,140$1,631$1,227$913$673$305
26 years$2,036$1,533$1,138$835$606$264
27 years$1,939$1,443$1,057$764$547$229
28 years$1,850$1,359$983$700$493$198
29 years$1,767$1,283$914$642$445$172
30 years$1,690$1,211$852$589$402$149
31 years$1,617$1,145$794$541$364$129
32 years$1,550$1,083$741$497$329$112
33 years$1,486$1,026$692$457$298$98
34 years$1,427$972$646$421$270$85
35 years$1,371$922$604$387$244$74
36 years$1,318$875$565$357$221$64
37 years$1,268$831$529$329$201$56
38 years$1,221$790$495$303$182$48
39 years$1,177$751$464$279$165$42
40 years$1,135$715$435$258$150$36
41 years$1,095$680$408$238$136$32
42 years$1,057$648$383$219$123$28
43 years$1,021$617$359$203$112$24
44 years$986$589$337$187$101$21
45 years$953$561$317$173$92$18
46 years$922$535$297$160$84$16
47 years$892$511$279$147$76$14
48 years$864$488$262$136$69$12
49 years$836$466$247$126$63$10
50 years$810$445$232$116$57$9

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $830,000, adding $5,499 every year, while hoping to spend $35,590 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: 81/13/6 Blend
61$830,000$830,000$830,000$830,000
62$920,332$876,342$863,477$994,042
63$976,339$881,416$854,536$1,048,134
64$1,036,865$885,545$844,103$1,102,185
65$1,102,334$888,646$832,090$1,160,415
66$1,173,213$890,629$818,405$1,223,219
67$1,250,011$891,401$802,952$1,291,038
68$1,333,293$890,860$785,632$1,364,352
69$1,423,677$888,900$766,338$1,443,693
70$1,521,843$885,407$744,961$1,529,647
71$1,628,539$880,261$721,387$1,622,858
72$1,744,591$873,334$695,493$1,724,036
73$1,870,902$864,491$667,155$1,833,964
74$2,008,471$853,587$636,242$1,953,505
75$2,158,394$840,472$602,615$2,083,608
76$2,321,878$824,984$566,131$2,225,321
77$2,500,253$806,951$526,639$2,379,796
78$2,694,980$786,193$483,983$2,548,306
79$2,907,671$762,519$437,999$2,732,250
80$3,140,096$735,726$388,515$2,933,174
81$3,394,208$705,598$335,353$3,152,778
82$3,672,155$671,910$278,324$3,392,938
83$3,976,302$634,421$217,236$3,655,721
84$4,309,254$592,877$151,882$3,943,405
85$4,673,879$547,009$82,052$4,258,500
86$5,073,337$496,534$7,522$4,603,773
87$5,511,104$441,152$0$4,982,275
88$5,991,013$380,544$0$5,401,977
89$6,517,283$314,377$0$5,862,787
90$7,094,560$242,296$0$6,368,324
91$7,727,964$163,927$0$6,923,106
92$8,423,132$78,876$0$7,532,111
93$9,186,276$0$0$8,200,827
94$10,024,236$0$0$8,937,198
95$10,944,548$0$0$9,758,352
96$11,955,513$0$0$10,660,415
97$13,066,278$0$0$11,651,549
98$14,286,916$0$0$12,740,748
99$15,628,528$0$0$13,937,918
100$17,103,342$0$0$15,253,975