Can I retire at age 62 with 833,000?

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 $833,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%14.7%
1 years$68,788$68,176$67,578$66,994$66,425$65,137
2 years$34,054$33,419$32,805$32,209$31,631$30,338
3 years$22,477$21,840$21,227$20,637$20,068$18,811
4 years$16,690$16,055$15,448$14,867$14,313$13,102
5 years$13,218$12,587$11,988$11,420$10,880$9,718
6 years$10,905$10,278$9,688$9,132$8,609$7,498
7 years$9,253$8,632$8,051$7,508$7,002$5,941
8 years$8,015$7,399$6,828$6,298$5,808$4,798
9 years$7,052$6,442$5,881$5,365$4,892$3,930
10 years$6,282$5,678$5,127$4,625$4,168$3,255
11 years$5,653$5,055$4,514$4,025$3,584$2,720
12 years$5,129$4,537$4,006$3,530$3,106$2,288
13 years$4,686$4,100$3,579$3,117$2,709$1,935
14 years$4,306$3,727$3,216$2,767$2,374$1,645
15 years$3,978$3,405$2,903$2,467$2,091$1,403
16 years$3,691$3,124$2,632$2,209$1,848$1,201
17 years$3,437$2,877$2,395$1,985$1,638$1,030
18 years$3,213$2,658$2,187$1,789$1,457$886
19 years$3,012$2,464$2,002$1,616$1,298$763
20 years$2,831$2,289$1,837$1,464$1,160$659
21 years$2,668$2,133$1,690$1,329$1,038$569
22 years$2,520$1,991$1,557$1,208$930$493
23 years$2,385$1,862$1,438$1,100$835$427
24 years$2,261$1,744$1,330$1,003$751$370
25 years$2,148$1,637$1,232$916$675$321
26 years$2,043$1,539$1,142$838$608$279
27 years$1,946$1,448$1,061$767$549$242
28 years$1,857$1,364$986$703$495$210
29 years$1,773$1,287$918$644$447$183
30 years$1,696$1,216$855$591$404$159
31 years$1,623$1,149$797$543$365$138
32 years$1,555$1,087$744$499$330$120
33 years$1,492$1,030$694$459$299$105
34 years$1,432$976$649$422$271$91
35 years$1,376$926$606$389$245$79
36 years$1,323$879$567$358$222$69
37 years$1,273$834$531$330$201$60
38 years$1,226$793$497$304$182$52
39 years$1,181$754$466$280$165$46
40 years$1,139$717$437$259$150$40
41 years$1,099$683$409$239$136$35
42 years$1,061$650$384$220$124$30
43 years$1,024$620$360$203$112$26
44 years$990$591$338$188$102$23
45 years$957$563$318$173$92$20
46 years$925$537$298$160$84$17
47 years$895$513$280$148$76$15
48 years$867$490$263$137$69$13
49 years$839$467$248$126$63$12
50 years$813$447$233$117$57$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $833,000, adding $5,235 every year, while hoping to spend $50,537 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: 78/9/13 Blend
61$833,000$833,000$833,000$833,000
62$923,366$879,217$866,305$992,611
63$963,778$868,528$841,556$1,028,239
64$1,006,619$855,621$814,283$1,060,330
65$1,052,082$840,334$784,350$1,094,098
66$1,100,380$822,496$751,611$1,129,690
67$1,151,746$801,926$715,917$1,167,268
68$1,206,434$778,430$677,110$1,207,013
69$1,264,722$751,804$635,025$1,249,121
70$1,326,915$721,834$589,489$1,293,813
71$1,393,347$688,291$540,324$1,341,329
72$1,464,384$650,933$487,341$1,391,936
73$1,540,428$609,506$430,344$1,445,929
74$1,621,919$563,739$369,128$1,503,634
75$1,709,340$513,347$303,479$1,565,410
76$1,803,220$458,029$233,173$1,631,654
77$1,904,141$397,464$157,976$1,702,805
78$2,012,741$331,318$77,646$1,779,347
79$2,129,722$259,233$0$1,861,814
80$2,255,852$180,834$0$1,951,919
81$2,391,978$95,724$0$2,060,760
82$2,539,028$3,484$0$2,178,314
83$2,698,025$0$0$2,305,417
84$2,870,089$0$0$2,452,530
85$3,056,456$0$0$2,612,267
86$3,258,481$0$0$2,785,449
87$3,477,655$0$0$2,973,357
88$3,715,620$0$0$3,177,401
89$3,974,180$0$0$3,399,132
90$4,255,319$0$0$3,640,255
91$4,561,221$0$0$3,902,647
92$4,894,288$0$0$4,188,372
93$5,257,165$0$0$4,499,701
94$5,652,761$0$0$4,839,136
95$6,084,277$0$0$5,209,428
96$6,555,239$0$0$5,613,606
97$7,069,525$0$0$6,055,004
98$7,631,406$0$0$6,537,292
99$8,245,584$0$0$7,064,510
100$8,917,235$0$0$7,641,108