Can I retire at age 62 with 834,000?

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 $834,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.9%
1 years$68,871$68,257$67,659$67,075$66,504$65,701
2 years$34,095$33,460$32,844$32,247$31,669$30,860
3 years$22,504$21,866$21,252$20,661$20,092$19,303
4 years$16,710$16,074$15,466$14,885$14,330$13,567
5 years$13,234$12,602$12,002$11,433$10,893$10,159
6 years$10,918$10,291$9,700$9,143$8,619$7,914
7 years$9,264$8,642$8,061$7,517$7,010$6,334
8 years$8,024$7,408$6,836$6,306$5,815$5,169
9 years$7,060$6,450$5,888$5,371$4,897$4,280
10 years$6,290$5,685$5,133$4,630$4,173$3,584
11 years$5,660$5,061$4,519$4,030$3,589$3,028
12 years$5,135$4,543$4,011$3,535$3,110$2,577
13 years$4,691$4,105$3,583$3,120$2,712$2,206
14 years$4,311$3,732$3,220$2,770$2,377$1,898
15 years$3,982$3,409$2,907$2,470$2,093$1,639
16 years$3,695$3,128$2,635$2,212$1,850$1,420
17 years$3,441$2,880$2,398$1,987$1,640$1,234
18 years$3,216$2,662$2,189$1,791$1,458$1,075
19 years$3,015$2,467$2,004$1,618$1,300$939
20 years$2,835$2,292$1,839$1,466$1,161$821
21 years$2,671$2,135$1,692$1,330$1,039$719
22 years$2,523$1,993$1,559$1,209$931$631
23 years$2,388$1,864$1,440$1,102$836$554
24 years$2,264$1,746$1,331$1,005$751$487
25 years$2,150$1,639$1,233$918$676$429
26 years$2,045$1,540$1,144$839$609$378
27 years$1,949$1,450$1,062$768$549$333
28 years$1,859$1,366$987$704$496$293
29 years$1,775$1,289$919$645$447$259
30 years$1,698$1,217$856$592$404$229
31 years$1,625$1,151$798$544$366$202
32 years$1,557$1,089$744$500$331$178
33 years$1,494$1,031$695$460$299$157
34 years$1,434$977$649$423$271$139
35 years$1,378$927$607$389$245$123
36 years$1,325$880$568$358$222$109
37 years$1,275$835$532$330$202$96
38 years$1,227$794$498$304$183$85
39 years$1,183$755$466$281$166$75
40 years$1,140$718$437$259$150$67
41 years$1,100$684$410$239$136$59
42 years$1,062$651$385$220$124$52
43 years$1,025$620$361$204$112$46
44 years$991$591$339$188$102$41
45 years$958$564$318$174$93$36
46 years$927$538$299$160$84$32
47 years$897$513$281$148$76$28
48 years$868$490$264$137$69$25
49 years$840$468$248$126$63$22
50 years$814$447$233$117$57$20

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $834,000, adding $4,202 every year, while hoping to spend $20,118 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: 70/23/7 Blend
61$834,000$834,000$834,000$834,000
62$923,402$879,200$866,273$986,739
63$996,184$900,876$873,888$1,050,852
64$1,075,715$922,939$881,084$1,118,103
65$1,162,663$945,388$887,825$1,191,138
66$1,257,762$968,219$894,074$1,270,519
67$1,361,821$991,429$899,793$1,356,867
68$1,475,731$1,015,014$904,940$1,450,864
69$1,600,472$1,038,966$909,473$1,553,263
70$1,737,125$1,063,280$913,344$1,664,892
71$1,886,878$1,087,947$916,508$1,786,664
72$2,051,042$1,112,959$918,914$1,919,582
73$2,231,060$1,138,305$920,509$2,064,754
74$2,428,520$1,163,974$921,238$2,223,399
75$2,645,172$1,189,952$921,042$2,396,859
76$2,882,945$1,216,225$919,862$2,586,613
77$3,143,961$1,242,776$917,634$2,794,292
78$3,430,560$1,269,587$914,290$3,021,690
79$3,745,319$1,296,639$909,760$3,270,785
80$4,091,076$1,323,908$903,971$3,543,756
81$4,470,957$1,351,371$896,845$3,843,004
82$4,888,408$1,379,001$888,303$4,171,174
83$5,347,223$1,406,770$878,259$4,531,181
84$5,851,584$1,434,646$866,624$4,926,235
85$6,406,096$1,462,594$853,307$5,359,875
86$7,015,834$1,490,578$838,209$5,836,000
87$7,686,390$1,518,557$821,230$6,358,906
88$8,423,923$1,546,487$802,263$6,933,326
89$9,235,221$1,574,322$781,196$7,564,477
90$10,127,760$1,602,011$757,913$8,258,107
91$11,109,781$1,629,499$732,292$9,020,549
92$12,190,361$1,656,727$704,206$9,858,782
93$13,379,503$1,683,631$673,522$10,780,498
94$14,688,227$1,710,145$640,100$11,794,173
95$16,128,678$1,736,193$603,795$12,909,145
96$17,714,236$1,761,700$564,455$14,135,707
97$19,459,645$1,786,579$521,921$15,485,200
98$21,381,149$1,810,743$476,026$16,970,123
99$23,496,651$1,834,093$426,597$18,604,248
100$25,825,874$1,856,529$373,453$20,402,755