Can I retire at age 62 with 838,000?

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 $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%12.2%
1 years$69,201$68,585$67,983$67,396$66,823$66,208
2 years$34,258$33,620$33,002$32,402$31,821$31,201
3 years$22,612$21,971$21,354$20,760$20,188$19,583
4 years$16,790$16,151$15,540$14,957$14,398$13,812
5 years$13,298$12,663$12,060$11,488$10,945$10,380
6 years$10,970$10,340$9,746$9,187$8,661$8,117
7 years$9,308$8,684$8,099$7,553$7,044$6,522
8 years$8,063$7,443$6,869$6,336$5,843$5,344
9 years$7,094$6,481$5,916$5,397$4,921$4,443
10 years$6,320$5,712$5,158$4,652$4,193$3,736
11 years$5,687$5,086$4,541$4,049$3,606$3,171
12 years$5,160$4,564$4,030$3,551$3,125$2,710
13 years$4,714$4,125$3,600$3,135$2,725$2,331
14 years$4,332$3,749$3,235$2,783$2,389$2,014
15 years$4,002$3,425$2,921$2,482$2,103$1,748
16 years$3,713$3,143$2,648$2,223$1,859$1,522
17 years$3,458$2,894$2,410$1,997$1,648$1,329
18 years$3,232$2,674$2,200$1,800$1,465$1,164
19 years$3,030$2,479$2,014$1,626$1,306$1,021
20 years$2,848$2,303$1,848$1,473$1,167$898
21 years$2,684$2,145$1,700$1,337$1,044$791
22 years$2,535$2,003$1,567$1,215$936$697
23 years$2,399$1,873$1,447$1,107$840$616
24 years$2,275$1,755$1,338$1,009$755$544
25 years$2,160$1,647$1,239$922$679$481
26 years$2,055$1,548$1,149$843$612$426
27 years$1,958$1,457$1,067$772$552$378
28 years$1,868$1,373$992$707$498$335
29 years$1,784$1,295$923$648$450$297
30 years$1,706$1,223$860$595$406$264
31 years$1,633$1,156$802$546$367$234
32 years$1,565$1,094$748$502$332$208
33 years$1,501$1,036$698$462$301$185
34 years$1,441$982$653$425$272$165
35 years$1,384$931$610$391$247$146
36 years$1,331$884$571$360$223$130
37 years$1,281$839$534$332$202$116
38 years$1,233$798$500$306$184$103
39 years$1,188$759$469$282$166$92
40 years$1,146$722$439$260$151$82
41 years$1,105$687$412$240$137$73
42 years$1,067$654$386$222$124$65
43 years$1,030$623$363$204$113$58
44 years$996$594$340$189$102$51
45 years$963$567$320$174$93$46
46 years$931$541$300$161$84$41
47 years$901$516$282$149$77$36
48 years$872$492$265$138$70$32
49 years$845$470$249$127$63$29
50 years$818$449$234$117$57$26

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $838,000, adding $6,953 every year, while hoping to spend $20,779 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: 61/10/29 Blend
61$838,000$838,000$838,000$838,000
62$930,648$886,234$873,245$979,740
63$1,003,465$907,551$880,390$1,035,316
64$1,083,014$929,216$887,078$1,093,121
65$1,169,958$951,224$893,272$1,155,787
66$1,265,029$973,569$898,932$1,223,793
67$1,369,033$996,245$904,017$1,297,668
68$1,482,857$1,019,244$908,485$1,377,995
69$1,607,478$1,042,557$912,288$1,465,416
70$1,743,972$1,066,173$915,381$1,560,638
71$1,893,522$1,090,080$917,711$1,664,442
72$2,057,434$1,114,267$919,228$1,777,687
73$2,237,145$1,138,719$919,874$1,901,321
74$2,434,236$1,163,418$919,592$2,036,390
75$2,650,451$1,188,349$918,322$2,184,044
76$2,887,710$1,213,491$915,998$2,345,552
77$3,148,127$1,238,822$912,554$2,522,315
78$3,434,031$1,264,319$907,920$2,715,873
79$3,747,988$1,289,957$902,021$2,927,929
80$4,092,825$1,315,708$894,782$3,160,354
81$4,471,656$1,341,540$886,119$3,415,216
82$4,887,910$1,367,421$875,950$3,694,791
83$5,345,367$1,393,314$864,184$4,001,589
84$5,848,190$1,419,182$850,729$4,338,377
85$6,400,964$1,444,981$835,488$4,708,204
86$7,008,744$1,470,666$818,358$5,114,432
87$7,677,096$1,496,189$799,233$5,560,766
88$8,412,154$1,521,496$778,002$6,051,290
89$9,220,676$1,546,532$754,547$6,590,507
90$10,110,107$1,571,234$728,746$7,183,379
91$11,088,651$1,595,538$700,472$7,835,375
92$12,165,347$1,619,373$669,592$8,552,524
93$13,350,154$1,642,664$635,965$9,341,471
94$14,654,045$1,665,330$599,445$10,209,541
95$16,089,112$1,687,285$559,881$11,164,807
96$17,668,677$1,708,438$517,113$12,216,167
97$19,407,420$1,728,689$470,974$13,373,429
98$21,321,515$1,747,933$421,290$14,647,404
99$23,428,786$1,766,058$367,879$16,050,005
100$25,748,872$1,782,945$310,553$17,594,366