Can I retire at age 62 with 830,000?

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 $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%19.2%
1 years$68,541$67,930$67,334$66,753$66,185$63,736
2 years$33,931$33,299$32,687$32,093$31,517$29,077
3 years$22,396$21,761$21,150$20,562$19,996$17,641
4 years$16,630$15,997$15,392$14,814$14,261$12,011
5 years$13,171$12,542$11,945$11,378$10,841$8,701
6 years$10,865$10,241$9,653$9,099$8,578$6,549
7 years$9,220$8,601$8,022$7,481$6,976$5,058
8 years$7,986$7,372$6,803$6,276$5,788$3,979
9 years$7,026$6,419$5,860$5,346$4,874$3,172
10 years$6,260$5,658$5,109$4,608$4,153$2,554
11 years$5,633$5,037$4,497$4,010$3,572$2,073
12 years$5,110$4,521$3,991$3,518$3,095$1,693
13 years$4,669$4,086$3,566$3,105$2,699$1,389
14 years$4,291$3,714$3,204$2,757$2,366$1,145
15 years$3,963$3,393$2,893$2,458$2,083$946
16 years$3,677$3,113$2,623$2,201$1,841$784
17 years$3,425$2,867$2,387$1,978$1,632$651
18 years$3,201$2,649$2,179$1,782$1,451$541
19 years$3,001$2,455$1,995$1,611$1,294$451
20 years$2,821$2,281$1,830$1,459$1,156$376
21 years$2,658$2,125$1,684$1,324$1,034$314
22 years$2,511$1,983$1,552$1,204$927$262
23 years$2,376$1,855$1,433$1,096$832$219
24 years$2,253$1,738$1,325$1,000$748$183
25 years$2,140$1,631$1,227$913$673$154
26 years$2,036$1,533$1,138$835$606$129
27 years$1,939$1,443$1,057$764$547$108
28 years$1,850$1,359$983$700$493$90
29 years$1,767$1,283$914$642$445$76
30 years$1,690$1,211$852$589$402$63
31 years$1,617$1,145$794$541$364$53
32 years$1,550$1,083$741$497$329$45
33 years$1,486$1,026$692$457$298$37
34 years$1,427$972$646$421$270$31
35 years$1,371$922$604$387$244$26
36 years$1,318$875$565$357$221$22
37 years$1,268$831$529$329$201$18
38 years$1,221$790$495$303$182$15
39 years$1,177$751$464$279$165$13
40 years$1,135$715$435$258$150$11
41 years$1,095$680$408$238$136$9
42 years$1,057$648$383$219$123$8
43 years$1,021$617$359$203$112$6
44 years$986$589$337$187$101$5
45 years$953$561$317$173$92$5
46 years$922$535$297$160$84$4
47 years$892$511$279$147$76$3
48 years$864$488$262$136$69$3
49 years$836$466$247$126$63$2
50 years$810$445$232$116$57$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $830,000, adding $5,836 every year, while hoping to spend $43,188 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: 80/14/6 Blend
61$830,000$830,000$830,000$830,000
62$920,680$876,690$863,825$993,443
63$968,637$873,696$846,811$1,038,930
64$1,020,039$869,108$827,780$1,082,523
65$1,075,191$862,802$806,619$1,129,041
66$1,134,428$854,647$783,208$1,178,755
67$1,198,119$844,504$757,425$1,231,960
68$1,266,667$832,225$729,139$1,288,983
69$1,340,518$817,654$698,215$1,350,185
70$1,420,157$800,625$664,512$1,415,962
71$1,506,121$780,964$627,881$1,486,752
72$1,598,998$758,484$588,168$1,563,036
73$1,699,436$732,990$545,211$1,645,347
74$1,808,144$704,272$498,841$1,734,270
75$1,925,904$672,111$448,882$1,830,450
76$2,053,576$636,274$395,149$1,934,601
77$2,192,104$596,514$337,450$2,047,506
78$2,342,528$552,573$275,584$2,170,032
79$2,505,989$504,173$209,340$2,303,133
80$2,683,747$451,023$138,499$2,447,860
81$2,877,183$392,818$62,833$2,605,375
82$3,087,820$329,230$0$2,776,957
83$3,317,333$259,917$0$2,965,164
84$3,567,564$184,517$0$3,174,771
85$3,840,543$102,646$0$3,403,485
86$4,138,502$13,899$0$3,653,214
87$4,463,899$0$0$3,926,062
88$4,819,439$0$0$4,237,004
89$5,208,102$0$0$4,579,277
90$5,633,166$0$0$4,953,629
91$6,098,242$0$0$5,363,244
92$6,607,307$0$0$5,811,627
93$7,164,738$0$0$6,302,637
94$7,775,357$0$0$6,840,525
95$8,444,473$0$0$7,429,969
96$9,177,934$0$0$8,076,126
97$9,982,180$0$0$8,784,673
98$10,864,304$0$0$9,561,861
99$11,832,119$0$0$10,414,580
100$12,894,230$0$0$11,350,413