Can I retire at age 62 with 832,000?

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 $832,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.9%
1 years$68,706$68,094$67,497$66,914$66,345$63,713
2 years$34,013$33,379$32,765$32,170$31,593$28,973
3 years$22,450$21,814$21,201$20,612$20,044$17,520
4 years$16,670$16,035$15,429$14,850$14,295$11,886
5 years$13,202$12,572$11,974$11,406$10,867$8,579
6 years$10,892$10,266$9,677$9,121$8,599$6,432
7 years$9,242$8,621$8,041$7,499$6,993$4,948
8 years$8,005$7,390$6,820$6,291$5,801$3,876
9 years$7,043$6,434$5,874$5,358$4,886$3,076
10 years$6,275$5,672$5,121$4,619$4,163$2,467
11 years$5,646$5,049$4,508$4,020$3,580$1,993
12 years$5,123$4,532$4,001$3,526$3,103$1,620
13 years$4,680$4,095$3,575$3,113$2,705$1,323
14 years$4,301$3,723$3,212$2,763$2,372$1,085
15 years$3,973$3,401$2,900$2,464$2,088$892
16 years$3,686$3,120$2,629$2,207$1,845$735
17 years$3,433$2,873$2,392$1,983$1,636$607
18 years$3,209$2,655$2,184$1,787$1,455$503
19 years$3,008$2,461$1,999$1,614$1,297$416
20 years$2,828$2,287$1,835$1,462$1,158$345
21 years$2,665$2,130$1,688$1,327$1,037$287
22 years$2,517$1,988$1,555$1,207$929$238
23 years$2,382$1,860$1,436$1,099$834$198
24 years$2,258$1,742$1,328$1,002$750$165
25 years$2,145$1,635$1,230$915$675$137
26 years$2,041$1,537$1,141$837$608$114
27 years$1,944$1,446$1,060$766$548$95
28 years$1,854$1,363$985$702$494$79
29 years$1,771$1,286$917$644$446$66
30 years$1,694$1,214$854$591$403$55
31 years$1,621$1,148$796$542$365$46
32 years$1,553$1,086$743$499$330$38
33 years$1,490$1,028$693$458$299$32
34 years$1,430$975$648$422$270$27
35 years$1,374$925$606$388$245$22
36 years$1,321$878$567$358$222$18
37 years$1,272$833$530$330$201$15
38 years$1,224$792$497$304$182$13
39 years$1,180$753$465$280$165$11
40 years$1,137$717$436$258$150$9
41 years$1,097$682$409$238$136$7
42 years$1,059$650$384$220$123$6
43 years$1,023$619$360$203$112$5
44 years$989$590$338$187$102$4
45 years$956$563$317$173$92$4
46 years$924$537$298$160$84$3
47 years$894$512$280$148$76$3
48 years$866$489$263$137$69$2
49 years$838$467$247$126$63$2
50 years$812$446$232$117$57$1

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $832,000, adding $6,572 every year, while hoping to spend $30,149 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: 49/23/28 Blend
61$832,000$832,000$832,000$832,000
62$923,643$879,547$866,651$961,270
63$985,776$890,567$863,606$999,342
64$1,053,237$901,116$859,448$1,037,183
65$1,126,536$911,139$854,108$1,077,710
66$1,206,236$920,579$847,514$1,121,192
67$1,292,957$929,372$839,591$1,167,926
68$1,387,380$937,452$830,258$1,218,242
69$1,490,253$944,748$819,433$1,272,503
70$1,602,403$951,185$807,027$1,331,110
71$1,724,736$956,681$792,951$1,394,509
72$1,858,253$961,152$777,108$1,463,191
73$2,004,052$964,505$759,399$1,537,699
74$2,163,345$966,646$739,718$1,618,632
75$2,337,464$967,470$717,957$1,706,655
76$2,527,878$966,868$694,001$1,802,501
77$2,736,202$964,725$667,730$1,906,979
78$2,964,214$960,916$639,019$2,020,984
79$3,213,875$955,312$607,738$2,145,505
80$3,487,342$947,774$573,748$2,281,634
81$3,786,990$938,154$536,908$2,430,578
82$4,115,437$926,297$497,068$2,593,667
83$4,475,563$912,038$454,072$2,772,374
84$4,870,544$895,201$407,756$2,968,324
85$5,303,874$875,601$357,951$3,183,309
86$5,779,405$853,041$304,478$3,419,310
87$6,301,378$827,314$247,152$3,678,514
88$6,874,466$798,199$185,778$3,963,335
89$7,503,814$765,463$120,154$4,276,437
90$8,195,092$728,860$50,069$4,620,761
91$8,954,546$688,129$0$4,999,553
92$9,789,057$642,994$0$5,423,781
93$10,706,204$593,164$0$5,906,456
94$11,714,337$538,330$0$6,437,038
95$12,822,658$478,166$0$7,020,415
96$14,041,301$412,328$0$7,661,976
97$15,381,433$340,452$0$8,367,665
98$16,855,359$262,153$0$9,144,029
99$18,476,633$177,027$0$9,998,292
100$20,260,191$84,642$0$10,938,413