Can I retire at age 62 with 831,000?

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 $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%
1 years$68,623$68,012$67,416$66,833$66,265$65,986
2 years$33,972$33,339$32,726$32,131$31,555$31,273
3 years$22,423$21,788$21,176$20,587$20,020$19,744
4 years$16,650$16,016$15,411$14,832$14,278$14,011
5 years$13,187$12,557$11,959$11,392$10,854$10,595
6 years$10,879$10,254$9,665$9,110$8,588$8,339
7 years$9,231$8,611$8,032$7,490$6,985$6,745
8 years$7,995$7,381$6,811$6,283$5,794$5,564
9 years$7,035$6,427$5,867$5,352$4,880$4,659
10 years$6,267$5,665$5,115$4,613$4,158$3,946
11 years$5,639$5,043$4,503$4,015$3,576$3,373
12 years$5,117$4,526$3,996$3,522$3,099$2,905
13 years$4,674$4,090$3,570$3,109$2,702$2,517
14 years$4,296$3,718$3,208$2,760$2,369$2,193
15 years$3,968$3,397$2,896$2,461$2,086$1,918
16 years$3,682$3,116$2,626$2,204$1,843$1,684
17 years$3,429$2,870$2,390$1,980$1,634$1,483
18 years$3,205$2,652$2,181$1,785$1,453$1,309
19 years$3,004$2,458$1,997$1,613$1,295$1,159
20 years$2,824$2,284$1,833$1,460$1,157$1,028
21 years$2,662$2,127$1,686$1,325$1,035$913
22 years$2,514$1,986$1,554$1,205$928$812
23 years$2,379$1,857$1,435$1,098$833$724
24 years$2,256$1,740$1,327$1,001$749$646
25 years$2,142$1,633$1,229$914$674$577
26 years$2,038$1,535$1,140$836$607$516
27 years$1,942$1,444$1,058$765$547$461
28 years$1,852$1,361$984$701$494$413
29 years$1,769$1,284$915$643$446$370
30 years$1,692$1,213$853$590$403$332
31 years$1,619$1,146$795$542$364$297
32 years$1,552$1,085$742$498$329$267
33 years$1,488$1,027$693$458$298$239
34 years$1,429$974$647$421$270$215
35 years$1,373$923$605$388$244$193
36 years$1,320$876$566$357$222$174
37 years$1,270$832$530$329$201$156
38 years$1,223$791$496$303$182$140
39 years$1,178$752$465$280$165$126
40 years$1,136$716$436$258$150$113
41 years$1,096$681$408$238$136$102
42 years$1,058$649$383$220$123$92
43 years$1,022$618$360$203$112$83
44 years$987$589$337$187$102$74
45 years$955$562$317$173$92$67
46 years$923$536$298$160$84$60
47 years$893$512$280$148$76$54
48 years$865$488$263$136$69$49
49 years$837$466$247$126$63$44
50 years$811$445$232$116$57$40

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $831,000, adding $4,790 every year, while hoping to spend $55,839 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: 60/16/24 Blend
61$831,000$831,000$831,000$831,000
62$920,703$876,660$863,779$969,778
63$955,202$860,204$833,304$987,229
64$991,349$841,070$799,936$999,785
65$1,029,253$819,068$763,519$1,012,270
66$1,069,031$793,997$723,892$1,024,688
67$1,110,813$765,644$680,883$1,037,046
68$1,154,738$733,782$634,314$1,049,353
69$1,200,957$698,174$584,000$1,061,626
70$1,249,637$658,567$529,747$1,073,882
71$1,300,957$614,694$471,350$1,086,146
72$1,355,113$566,272$408,599$1,098,447
73$1,412,319$513,004$341,271$1,110,822
74$1,472,808$454,574$269,136$1,123,314
75$1,536,835$390,648$191,952$1,135,978
76$1,604,677$320,874$109,468$1,148,874
77$1,676,638$244,881$21,419$1,162,076
78$1,753,050$162,275$0$1,175,670
79$1,834,276$72,642$0$1,208,332
80$1,920,713$0$0$1,248,661
81$2,012,795$0$0$1,295,683
82$2,111,000$0$0$1,359,508
83$2,215,848$0$0$1,427,690
84$2,327,910$0$0$1,500,607
85$2,447,814$0$0$1,578,671
86$2,576,244$0$0$1,662,334
87$2,713,956$0$0$1,752,095
88$2,861,774$0$0$1,848,498
89$3,020,606$0$0$1,952,141
90$3,191,448$0$0$2,063,681
91$3,375,391$0$0$2,183,840
92$3,573,637$0$0$2,313,409
93$3,787,503$0$0$2,453,259
94$4,018,439$0$0$2,604,346
95$4,268,035$0$0$2,767,721
96$4,538,042$0$0$2,944,538
97$4,830,380$0$0$3,136,068
98$5,147,166$0$0$3,343,706
99$5,490,722$0$0$3,568,988
100$5,863,605$0$0$3,813,602