Can I retire at age 62 with 831,000?

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 $831,000?

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$68,623$68,012$67,416$66,833$66,265$65,875
2 years$33,972$33,339$32,726$32,131$31,555$31,161
3 years$22,423$21,788$21,176$20,587$20,020$19,635
4 years$16,650$16,016$15,411$14,832$14,278$13,905
5 years$13,187$12,557$11,959$11,392$10,854$10,494
6 years$10,879$10,254$9,665$9,110$8,588$8,241
7 years$9,231$8,611$8,032$7,490$6,985$6,651
8 years$7,995$7,381$6,811$6,283$5,794$5,474
9 years$7,035$6,427$5,867$5,352$4,880$4,573
10 years$6,267$5,665$5,115$4,613$4,158$3,864
11 years$5,639$5,043$4,503$4,015$3,576$3,295
12 years$5,117$4,526$3,996$3,522$3,099$2,831
13 years$4,674$4,090$3,570$3,109$2,702$2,447
14 years$4,296$3,718$3,208$2,760$2,369$2,126
15 years$3,968$3,397$2,896$2,461$2,086$1,854
16 years$3,682$3,116$2,626$2,204$1,843$1,624
17 years$3,429$2,870$2,390$1,980$1,634$1,426
18 years$3,205$2,652$2,181$1,785$1,453$1,256
19 years$3,004$2,458$1,997$1,613$1,295$1,108
20 years$2,824$2,284$1,833$1,460$1,157$980
21 years$2,662$2,127$1,686$1,325$1,035$868
22 years$2,514$1,986$1,554$1,205$928$770
23 years$2,379$1,857$1,435$1,098$833$684
24 years$2,256$1,740$1,327$1,001$749$608
25 years$2,142$1,633$1,229$914$674$542
26 years$2,038$1,535$1,140$836$607$483
27 years$1,942$1,444$1,058$765$547$430
28 years$1,852$1,361$984$701$494$384
29 years$1,769$1,284$915$643$446$343
30 years$1,692$1,213$853$590$403$307
31 years$1,619$1,146$795$542$364$274
32 years$1,552$1,085$742$498$329$245
33 years$1,488$1,027$693$458$298$219
34 years$1,429$974$647$421$270$196
35 years$1,373$923$605$388$244$176
36 years$1,320$876$566$357$222$157
37 years$1,270$832$530$329$201$141
38 years$1,223$791$496$303$182$126
39 years$1,178$752$465$280$165$113
40 years$1,136$716$436$258$150$101
41 years$1,096$681$408$238$136$91
42 years$1,058$649$383$220$123$81
43 years$1,022$618$360$203$112$73
44 years$987$589$337$187$102$66
45 years$955$562$317$173$92$59
46 years$923$536$298$160$84$53
47 years$893$512$280$148$76$47
48 years$865$488$263$136$69$42
49 years$837$466$247$126$63$38
50 years$811$445$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 $831,000, adding $3,297 every year, while hoping to spend $58,634 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: 59/18/23 Blend
61$831,000$831,000$831,000$831,000
62$919,163$875,120$862,239$967,559
63$950,531$855,615$828,738$981,354
64$983,134$833,188$792,150$989,771
65$1,017,036$807,636$752,308$997,673
66$1,052,304$778,741$709,041$1,005,024
67$1,089,013$746,274$662,168$1,011,784
68$1,127,241$709,990$611,500$1,017,915
69$1,167,075$669,634$556,840$1,023,376
70$1,208,603$624,933$497,981$1,028,128
71$1,251,927$575,601$434,709$1,032,128
72$1,297,150$521,333$366,799$1,035,335
73$1,344,389$461,807$294,016$1,037,708
74$1,393,766$396,685$216,115$1,039,204
75$1,445,416$325,608$132,841$1,039,781
76$1,499,482$248,197$43,925$1,039,401
77$1,556,123$164,052$0$1,038,022
78$1,615,507$72,750$0$1,048,113
79$1,677,818$0$0$1,069,448
80$1,743,258$0$0$1,096,457
81$1,812,044$0$0$1,140,015
82$1,884,411$0$0$1,185,865
83$1,960,617$0$0$1,234,173
84$2,040,942$0$0$1,285,121
85$2,125,690$0$0$1,338,904
86$2,215,196$0$0$1,395,738
87$2,309,820$0$0$1,455,858
88$2,409,959$0$0$1,519,520
89$2,516,045$0$0$1,587,002
90$2,628,551$0$0$1,658,612
91$2,747,992$0$0$1,734,682
92$2,874,933$0$0$1,815,578
93$3,009,992$0$0$1,901,700
94$3,153,843$0$0$1,993,486
95$3,307,228$0$0$2,091,416
96$3,470,956$0$0$2,196,014
97$3,645,915$0$0$2,307,856
98$3,833,080$0$0$2,427,574
99$4,033,517$0$0$2,555,858
100$4,248,396$0$0$2,693,469