Can I retire at age 62 with 838,000?

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 $838,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.6%
1 years$69,201$68,585$67,983$67,396$66,823$65,825
2 years$34,258$33,620$33,002$32,402$31,821$30,817
3 years$22,612$21,971$21,354$20,760$20,188$19,210
4 years$16,790$16,151$15,540$14,957$14,398$13,454
5 years$13,298$12,663$12,060$11,488$10,945$10,037
6 years$10,970$10,340$9,746$9,187$8,661$7,790
7 years$9,308$8,684$8,099$7,553$7,044$6,211
8 years$8,063$7,443$6,869$6,336$5,843$5,048
9 years$7,094$6,481$5,916$5,397$4,921$4,162
10 years$6,320$5,712$5,158$4,652$4,193$3,471
11 years$5,687$5,086$4,541$4,049$3,606$2,920
12 years$5,160$4,564$4,030$3,551$3,125$2,474
13 years$4,714$4,125$3,600$3,135$2,725$2,108
14 years$4,332$3,749$3,235$2,783$2,389$1,805
15 years$4,002$3,425$2,921$2,482$2,103$1,551
16 years$3,713$3,143$2,648$2,223$1,859$1,338
17 years$3,458$2,894$2,410$1,997$1,648$1,157
18 years$3,232$2,674$2,200$1,800$1,465$1,003
19 years$3,030$2,479$2,014$1,626$1,306$871
20 years$2,848$2,303$1,848$1,473$1,167$758
21 years$2,684$2,145$1,700$1,337$1,044$661
22 years$2,535$2,003$1,567$1,215$936$576
23 years$2,399$1,873$1,447$1,107$840$503
24 years$2,275$1,755$1,338$1,009$755$440
25 years$2,160$1,647$1,239$922$679$385
26 years$2,055$1,548$1,149$843$612$337
27 years$1,958$1,457$1,067$772$552$296
28 years$1,868$1,373$992$707$498$259
29 years$1,784$1,295$923$648$450$227
30 years$1,706$1,223$860$595$406$200
31 years$1,633$1,156$802$546$367$175
32 years$1,565$1,094$748$502$332$154
33 years$1,501$1,036$698$462$301$135
34 years$1,441$982$653$425$272$119
35 years$1,384$931$610$391$247$104
36 years$1,331$884$571$360$223$92
37 years$1,281$839$534$332$202$81
38 years$1,233$798$500$306$184$71
39 years$1,188$759$469$282$166$62
40 years$1,146$722$439$260$151$55
41 years$1,105$687$412$240$137$48
42 years$1,067$654$386$222$124$42
43 years$1,030$623$363$204$113$37
44 years$996$594$340$189$102$33
45 years$963$567$320$174$93$29
46 years$931$541$300$161$84$25
47 years$901$516$282$149$77$22
48 years$872$492$265$138$70$20
49 years$845$470$249$127$63$17
50 years$818$449$234$117$57$15

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $838,000, adding $5,012 every year, while hoping to spend $56,796 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: 68/12/20 Blend
61$838,000$838,000$838,000$838,000
62$928,646$884,232$871,243$986,859
63$962,937$867,129$839,999$1,009,320
64$998,823$847,284$805,805$1,026,801
65$1,036,405$824,503$768,502$1,044,547
66$1,075,795$798,581$727,924$1,062,580
67$1,117,114$769,299$683,897$1,080,928
68$1,160,493$736,428$636,240$1,099,622
69$1,206,073$699,723$584,764$1,118,699
70$1,254,010$658,926$529,271$1,138,203
71$1,304,471$613,766$469,554$1,158,182
72$1,357,639$563,953$405,396$1,178,692
73$1,413,715$509,182$336,573$1,199,799
74$1,472,914$449,133$262,848$1,221,575
75$1,535,474$383,463$183,977$1,244,105
76$1,601,653$311,813$99,701$1,267,484
77$1,671,734$233,804$9,753$1,291,821
78$1,746,024$149,034$0$1,317,239
79$1,824,861$57,079$0$1,362,279
80$1,908,612$0$0$1,412,113
81$1,997,681$0$0$1,470,513
82$2,092,509$0$0$1,540,739
83$2,193,577$0$0$1,615,615
84$2,301,415$0$0$1,695,537
85$2,416,601$0$0$1,780,938
86$2,539,770$0$0$1,872,292
87$2,671,618$0$0$1,970,120
88$2,812,907$0$0$2,074,992
89$2,964,474$0$0$2,187,534
90$3,127,237$0$0$2,308,434
91$3,302,205$0$0$2,438,445
92$3,490,483$0$0$2,578,396
93$3,693,285$0$0$2,729,196
94$3,911,948$0$0$2,891,843
95$4,147,935$0$0$3,067,434
96$4,402,857$0$0$3,257,176
97$4,678,484$0$0$3,462,392
98$4,976,761$0$0$3,684,539
99$5,299,826$0$0$3,925,218
100$5,650,030$0$0$4,186,190